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
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 . 23% 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 . , Ltd . , 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.
. Preliminary estimation indicated that the company achieved operation revenue of RMB2,056 million in fiscal year 2016, down by 75 . 83% YOY; net profit belonging to shareholders of listed companies of -RMB398 million, down by 156 . 04% YOY . In addition, the company saw a loss of RMB155 million in 2015 . 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.
China's battery grade cobalt sulfate producers' number MoM inventory decrease statistics by province by month