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ST Huaze sees net profit of -RMB398 million in 2016

2017-04-18 16:32:54  【Print】
ST Huaze (000693, “the company”) issued its 2016 annual report on the evening of April 14.Asian Metal Copyright According to relevant regulations, stocks of the Company will be practiced a delisting risk warning if the audited net profit of the company is negative for the recent two consecutive fiscal years or the company’s net profit is negative for the recent two consecutive fiscal years caused by retroactive restatement.Asian Metal Copyright Preliminary estimation indicated that the company achieved operation revenue of RMB2,056 million in fiscal year 2016, down by 75.Asian Metal Copyright04% YOY.Asian Metal Copyright83% YOY; net profit belonging to shareholders of listed companies of -RMB398 million, down by 156.Asian Metal CopyrightST Huaze 000693, “the company” issued its 2016 annual report on the evening of April 14.Asian Metal Copyright04% YOY.Asian Metal Copyright In addition, the company saw a loss of RMB155 million in 2015.Asian Metal Copyright In addition, the company saw a loss of RMB155 million in 2015.Asian Metal Copyright The company stated that affected by the continuing weakened macro economy and industrial situation in 2016, prices for their major products kept dropping and the earning performance of their main businesses was still unimproved with operation costs increasing and company’s revenue decreasing.Asian Metal Copyright According to relevant regulations, stocks of the Company will be practiced a delisting risk warning if the audited net profit of the company is negative for the recent two consecutive fiscal years or the company’s net profit is negative for the recent two consecutive fiscal years caused by retroactive restatement.

The company stated that affected by the continuing weakened macro economy and industrial situation in 2016, prices for their major products kept dropping and the earning performance of their main businesses was still unimproved with operation costs increasing and company’s revenue decreasing.

Meanwhile, the company also released its Q1 2017 performance forecast that the company will see net profit belonging to shareholders of listed companies of –RMB45-35 million in Q1 2017, with changes of negative 124.01%-74.Asian Metal Copyright83% YOY; net profit belonging to shareholders of listed companies of -RMB398 million, down by 156.Asian Metal Copyright23% YOY.

The company stated that Pingan Xinhai Resource Development Co, Ltd., a sub-subsidiary of the company, suspends production seasonally and Shaanxi Huaze Cobalt and Nickel Metal Co.Asian Metal Copyright23% YOY.Asian Metal Copyright, Ltd.Asian Metal Copyright .Asian Metal Copyright, a wholly-owned subsidiaries of the company, saw default interest due to loans overdue during Q1 2017, which mainly accounted for the company’s increased loss year-on-year.

.Asian Metal Copyright23% YOY.Asian Metal Copyright

Cobalt Oxide

72%min In warehouse Rotterdam

Unit:EUR/kg
China's cobalt tetroxide producers' total number statistics by province by month
Unit: pcs