Baowu Magnesium achieves year-on-year revenue growth
2025-04-27 15:06:51 [Print]
In 2024, Baowu Magnesium Technology Co., Ltd. achieved an operating revenue of 8.982 billion yuan (1.23 billion US dollars), up by 17.39% year-on-year, according to its annual report.
However, due to declining magnesium prices, gross margins for magnesium materials and die-cast products fell, leading to a year-on-year decline in overall profitability. In 2024, the company increased the proportion of aluminum deep-processing products within its overall business, further enhancing aluminum's contribution to company profits.
During the year, Baowu Magnesium produced 460,970 tonnes of non-ferrous metal smelting and rolling products, including magnesium and aluminum alloys, representing a 27.81% YoY increase. Sales volume reached 449,452 tonnes, up by 23.54% YoY.
Currently, Baowu Magnesium has production capacity of 100,000tpa of primary magnesium and 200,000tpa of magnesium alloy. Production capacity under construction by its subsidiaries includes 50,000tpa of primary magnesium from Chaohu Yunhai Magnesium Co., Ltd., 100,000tpa of primary magnesium and 100,000tpa of magnesium alloy from Wutai Yunhai Magnesium Co., Ltd., and 300,000tpa of primary magnesium and 300,000tpa of magnesium alloy from its partially-owned subsidiary Anhui Baomei Light Alloy Co., Ltd.
However, due to declining magnesium prices, gross margins for magnesium materials and die-cast products fell, leading to a year-on-year decline in overall profitability. In 2024, the company increased the proportion of aluminum deep-processing products within its overall business, further enhancing aluminum's contribution to company profits.
During the year, Baowu Magnesium produced 460,970 tonnes of non-ferrous metal smelting and rolling products, including magnesium and aluminum alloys, representing a 27.81% YoY increase. Sales volume reached 449,452 tonnes, up by 23.54% YoY.
Currently, Baowu Magnesium has production capacity of 100,000tpa of primary magnesium and 200,000tpa of magnesium alloy. Production capacity under construction by its subsidiaries includes 50,000tpa of primary magnesium from Chaohu Yunhai Magnesium Co., Ltd., 100,000tpa of primary magnesium and 100,000tpa of magnesium alloy from Wutai Yunhai Magnesium Co., Ltd., and 300,000tpa of primary magnesium and 300,000tpa of magnesium alloy from its partially-owned subsidiary Anhui Baomei Light Alloy Co., Ltd.
Aluminum Alloy TC A356.2 Delivered China
Unit:RMB/mt
China secondary aluminum alloy producers' inventory statistics by province by month
Unit: mt
