SMM: a few days ago, Zhangyuan tungsten industry announced its third-quarter results. In the first three quarters, the company's revenue was about 1.352 billion yuan, down 2.27% from the same period last year; the net loss was about 3.02 million yuan, down 97.35% from the same period last year; and basic earnings per share was-0.0033 yuan, down 97.33% from the same period last year.
The company made a profit of 58.5894 million yuan in the third quarter, up 169.52% from the same period last year.
The company said that under the influence of novel coronavirus's epidemic situation, the foreign market shrank and the market price of tungsten products remained low. During the reporting period, the company vigorously implemented measures to reduce costs and increase efficiency, and adjusted the product sales structure, resulting in an increase in comprehensive gross profit margin. The operating performance in 2020 was significantly higher than that of the previous year, and the net profit attributed to shareholders of listed companies is expected to be in the range of-28.8421 million yuan to 57.6842 million yuan. Compared with the same period last year, the net profit belonging to shareholders of listed companies was-288.4209 million yuan, an increase of 90.00% to 120.00%.
