Shenghe Resources sees net profit up by 682.82% YOY in H1 2017
2017-09-01 17:40:23 [Print]
Shenghe Resources recently released its semi-annual performance report of 2017. According to the report, the company achieved operational revenue of RMB2.21 billion, up by 450.78% YOY; the net profit attributed to shareholders of listed companies was RMB134 million, up by 682.82% YOY.
The report shows that within the report period, Shenghe Resources purchased 100.00% of Chenguang Rare Earth’s share, 71.43% of Kebairui’s share and 100.00% of Wensheng New material’s share, and thus rapidly strengthened its business capacity.
In particular, Chenguang Rare Earth achieved operational revenue of RMB1.165 billion with net profit of RMB89.665 million; Kebairui achieved operational revenue of RMB192 million with net profit of RMB7.9657 million; Wensheng New Material achieved operational revenue of RMB585 million with net profit of RMB86.2887 million.
Relevant document shows that Chenghuang Rare Earth, as China’s biggest private rare earth enterprise, has an annual processing capacity of 3,000t of Rare Earth Oxide (REO), 8,000t of rare earth metals, 5,000t of scraps of neodymium iron boron and 1,000t of fluorescent powder wastes. Wensheng New Material is China’s biggest producer of zircon sand and mainly engages in the beneficiation and processing for zirconium and titanium ore with an annual capacity of 750,000t of zircon sand, ilmenite and Rutile, establishing stable cooperation with international raw material giants like ILUKA and MZI and being a leading zircon sand supplier nationwide.
The report shows that within the report period, Shenghe Resources purchased 100.00% of Chenguang Rare Earth’s share, 71.43% of Kebairui’s share and 100.00% of Wensheng New material’s share, and thus rapidly strengthened its business capacity.
In particular, Chenguang Rare Earth achieved operational revenue of RMB1.165 billion with net profit of RMB89.665 million; Kebairui achieved operational revenue of RMB192 million with net profit of RMB7.9657 million; Wensheng New Material achieved operational revenue of RMB585 million with net profit of RMB86.2887 million.
Relevant document shows that Chenghuang Rare Earth, as China’s biggest private rare earth enterprise, has an annual processing capacity of 3,000t of Rare Earth Oxide (REO), 8,000t of rare earth metals, 5,000t of scraps of neodymium iron boron and 1,000t of fluorescent powder wastes. Wensheng New Material is China’s biggest producer of zircon sand and mainly engages in the beneficiation and processing for zirconium and titanium ore with an annual capacity of 750,000t of zircon sand, ilmenite and Rutile, establishing stable cooperation with international raw material giants like ILUKA and MZI and being a leading zircon sand supplier nationwide.
