Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Profits
China’s leading Rare Earth producer records rising 1-H Y 2011 net profits
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., the Country’s leading Rare Earth producer, said Monday that 1-H Y 2011 net profit rose 458.51% from a year earlier on a wave of soaring prices of Rare Earth products.
Its net profit totaled 1.976-B Yuan (US$307-M) in 1-H of this year, the Company said in a statement filed with the Shanghai Stock Exchange.
Earnings per share were 1.632 Yuan in 1-H, compared with 0.292 Yuan in the same period last year, according to the statement.
Revenue reached 5.979-B Yuan, + 156.81% Y-Y, the statement said.
The Company said prices of rare earth metals increased significantly in 1-H of the year, which led to a rise in profits, and forecast is for a drastic increase in net profits for the 1st 3 Quarters.
Shares of the company fell 4.19% to 61.29 Tuan on Monday. The decline outpaced the 3.79 fall of the benchmark Shanghai Composite Index in wake of the US credit rating downgrade.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., the Country’s leading Rare Earth producer, said Monday that 1-H Y 2011 net profit rose 458.51% from a year earlier on a wave of soaring prices of Rare Earth products.
Its net profit totaled 1.976-B Yuan (US$307-M) in 1-H of this year, the Company said in a statement filed with the Shanghai Stock Exchange.
Earnings per share were 1.632 Yuan in 1-H, compared with 0.292 Yuan in the same period last year, according to the statement.
Revenue reached 5.979-B Yuan, + 156.81% Y-Y, the statement said.
The Company said prices of rare earth metals increased significantly in 1-H of the year, which led to a rise in profits, and forecast is for a drastic increase in net profits for the 1st 3 Quarters.
Shares of the company fell 4.19% to 61.29 Tuan on Monday. The decline outpaced the 3.79 fall of the benchmark Shanghai Composite Index in wake of the US credit rating downgrade.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
Comments
Post a Comment