Minmetals rare earth net profit fell ninety percent

Net profit fell 94%, substantially the transcript by minmetals rare earth in the first half of 2013. And that is since the end of last year minmetals rare earth backdoor * ST aluminium since listing, the company to hand over the first half of the annual report.First half of the annual net profit decline significantly, namely highlights is behind the industry slump. In fact, due to the influence of rare earth prices have tumbled in the ASTM A234 socket welding pipe fitting tee first half of this year, the whole situation of rare earth industry is not optimistic, in addition to minmetals rare earth, baotou rare earth, xiamen tungsten, guang sheng colored net profits are also varying degrees of decline.

As one of the largest heavy rare earth separation processing enterprises in the south of minmetals rare earths, encountered the reorganization of the first year that net profit fell ninety percent.August 18, black carbon steel butt welded concentric reducer minmetals rare earth half annual report, released 2013 first-half operating income of 265.597 million yuan, down 88.89% year on year. Net profit of 10.1755 million yuan, down 94.46% year on year. Basic earnings per share 0.011 yuan, down 94.69%.Minmetals rare earth in half annals, explains the main reason for decline in net profit for the rare earth market weakness, rare earth products sales quantity, price and gross margin fell and some of the larger products provision.

The main reason for the "operating income fell significantly on the one hand, is in 2012 the company completed the material assets reorganization, so the current operation ShouRuShu to implement several concentric reducer steel pipe fittings in rare earth current assets, and in the same period of last year's revenues are including the aluminium assets to achieve several, on the other hand this rare earth market weakness, rare earth products sales quantity, the price down." The company is half said in its annual report.

It is important to note that despite the recent rare earths prices close to a period of time the price picks up more apparent, but will not be able to make up for the company in the first half of the year."Half-year performance at 1-6 month, and the industry as a whole prices to rise up out of the time it seems too late, the company's performance is not good is very normal phenomenon." Saddle ridge information industry analyst zhang beibei told reporters.

And a perennial engaged in the rare earth industry insiders told reporters, minmetals rare earth significantly decline in performance completely understandable, restructuring its expectations for this year is down, and, on the other hand, before the restructuring, minmetals rare earth's performance has been not very stable.Data show that minmetals rare earth 2012 full-year net profit is 2012 yuan, only has obvious decline from a year earlier, down 68.87%, while the figure in 2013 and a half years in the annual report further.

"Minmetals rare earth since listed backdoor * ST b last year profit fell sharply, the main reason is due to the same period last year revenue including the aluminium assets value, on the other hand is because of rare earth in the first half of the downturn in the atmosphere." Zhuo and rare earth industry analysts edge information was told reporters.

It is understood that in the first half of this year the rare earth industry is not only the price back in 2011, jumped in front of the starting point, and at the same time also makes the rare earth enterprise faced with selling price, the humiliation of a sharp decline in profits. "Although the price is better than Chinese cabbage, but overall is still in the continuous low." While being said.And above the personage inside course of study tells a reporter, although the rare earth prices have rebounded, but may be caused by the private mining operations in short timeliness of rise, the whole, there is no substantial positive to support prices, therefore minmetals rare earth is still hard to say next.