Shengyang shares net profit fell 31.10% in the first quarter compared with the same period last year

SMM News: Shengyang shares disclosed the first quarter of 2020 report, during the reporting period, the company achieved 259 million yuan in revenue, down 41.44% from the same period last year, mainly due to the impact of the epidemic, domestic and foreign sales revenue decreased year on year. The net profit belonging to the shareholders of listed companies was 3.1978 million yuan, down 31.10% from the same period last year; the net outflow of cash from operating activities was 71.2116 million yuan, compared with 77.7465 million yuan in the same period last year; and the basic income per share was 0.01 yuan.

With the escalation of global trade disputes in 2019 and the downward pressure on the global economy, central banks began a wave of interest rate cuts. At the same time, the meeting of the political Bureau of the CPC Central Committee stressed that at present and for some time to come, the basic trend of China's economic stability and long-term improvement has not changed, and 2020 is also the year for China to build a well-off society in an all-round way and the end of the 13th five-year Plan. Against this background, the new crown virus is raging all over the world, and how to achieve stable economic growth in China is worth looking forward to.

In the zinc market, overseas mines will increase production step by step in 2019, but the increase in domestic mine production will be repeatedly hindered. In the first quarter of 2020, zinc prices fell through the mine cost line, mine profits plummeted, and how smelters and mine profits will be distributed in 2020. can overseas mines be expected to be put into production under the disturbance of the epidemic situation? In addition, the output of domestic refining zinc smelters broke through the bottleneck in 2019 and refreshed the all-time high. Under the disturbance of the supply end of zinc mines in 2020, can the capacity utilization rate of smelters maintain a high load? Whether the infrastructure investment under the tone of "stabilizing the economy" in 2020 can exceed the expected performance, whether the super-seasonal performance of the galvanizing industry can still be expected, and whether the contradiction between supply and demand of zinc may reverse in 2020, paying attention to and laying out structural opportunities is another option. Can zinc prices pick up in 2020?

In view of the above topics, SMM will invite industry bigwigs, industry professionals, upstream and downstream enterprises of the industry chain to hold the "2020 (15th) lead and Zinc Summit" in Changsha to discuss the current situation and problems faced by the industry, as well as future development prospects, and analyze the fundamentals and the future trend of zinc prices.

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