Shenghe Resource expects to get profit of RMB120-150 million in H1 2017
2017-07-06 17:37:36 [Print]
Shenghe Resources Holding Co., Ltd. (600392) issued a notice of performance on night of 5 July, expecting to see a net profit of RMB120-150 million in the first six months of 2017 with RMB23.0929 million of loss in the first period of 2016, and turning losses into gains.
The company said that MIIT together with other ministries carried out a special rectification action on the rare earth industry in the first half of 2017 to promote the rectification of rare earth industry orderly and stabilize the rare earth products market. With the rare earth supply-side reform going forward continuously, rare earth enterprises with six rare earth group as the core promoted actively structural adjustment and industrial upgrading process of the rare earth industry. The demand for rare earth increases along with more application, prices for the material move up on the whole.
In addition, the company's major asset restructuring is completed. The company has merged three financial statements of Chenguang Rare Earth, Kebairui and Hainan Wensheng since February 2017, with related businesses to become a listed company's new profit growth point and profit ability to be enhanced.
The company said that MIIT together with other ministries carried out a special rectification action on the rare earth industry in the first half of 2017 to promote the rectification of rare earth industry orderly and stabilize the rare earth products market. With the rare earth supply-side reform going forward continuously, rare earth enterprises with six rare earth group as the core promoted actively structural adjustment and industrial upgrading process of the rare earth industry. The demand for rare earth increases along with more application, prices for the material move up on the whole.
In addition, the company's major asset restructuring is completed. The company has merged three financial statements of Chenguang Rare Earth, Kebairui and Hainan Wensheng since February 2017, with related businesses to become a listed company's new profit growth point and profit ability to be enhanced.
