Zijin Mining's net profit up by 11.12% YOY to RMB1.84 billion in 2016
2017-03-28 17:36:15 [Print]
Zijin Mining (02899) issued annual performance report of 2016 that its sales revenue reached RMB78.851 billion, up by 6.12% YOY, and the net profits attributable to shareholders of parent company was RMB1.84 billion, up by 11.12% YOY.
During the reporting period, the output and prices of mineral products moved up, while rises in net profits were limited as the company implemented moderate operation, held stocks continuously since 2015 and made hedge of most mineral products, which failed to achieve benefits from rises in prices for gold, etc; the company shrank the hedge sharply in H2 of 2016 and almost held no stocks at the year-end.
According to the announcement, the group produced 6.9 million ounces of gold within 2016, down by 13.24% YOY; 561,300t of copper, up by 35.44% YOY; 464,500t of zinc, up by 11.42% YOY; 588,700kg of silver, up by 45.94% YOY; 630,000t of iron concentrate, down by 68.02% YOY.
In particular, sales revenue of products such as silver accounted for 14.42% of the total operation revenue in the reporting period, and the gross profits accounted for 18.82% of the group’s total.
By the end of 2016, the company’s capital totaled RMB89.218 billion, up by 6.32% YOY. In particular, its overseas asset was RMB21.13 billion, accounting for 23.68% of the total figure.
During the reporting period, the output and prices of mineral products moved up, while rises in net profits were limited as the company implemented moderate operation, held stocks continuously since 2015 and made hedge of most mineral products, which failed to achieve benefits from rises in prices for gold, etc; the company shrank the hedge sharply in H2 of 2016 and almost held no stocks at the year-end.
According to the announcement, the group produced 6.9 million ounces of gold within 2016, down by 13.24% YOY; 561,300t of copper, up by 35.44% YOY; 464,500t of zinc, up by 11.42% YOY; 588,700kg of silver, up by 45.94% YOY; 630,000t of iron concentrate, down by 68.02% YOY.
In particular, sales revenue of products such as silver accounted for 14.42% of the total operation revenue in the reporting period, and the gross profits accounted for 18.82% of the group’s total.
By the end of 2016, the company’s capital totaled RMB89.218 billion, up by 6.32% YOY. In particular, its overseas asset was RMB21.13 billion, accounting for 23.68% of the total figure.
Copper Rod TC Ф8mm EXW China
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China refined copper producers' operating rate statistics by province by month
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