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Jinduicheng Molybdenum's FY'19 net profit rises 48% to 562.9M yuan

Jinduicheng Molybdenum Co. Ltd. said Jan. 15 that its net profit attributable to shareholders for the 2019 full year rose 47.6% to 562.9 million Chinese yuan, from 381.4 million yuan in the previous year.

Basic EPS for the year rose 47.5% to 17.4 yuan from 11.8 yuan.

The company's total operating revenue in 2019 increased by 4.3% to 9.15 billion yuan from 8.78 billion yuan.

Earnings after deducting nonrecurring items are 54.7% up at 540.7 million yuan, compared with 349.6 million yuan of 2018.

Jinduicheng Molybdenum attributed its earnings growth to improved molybdenum production, sales volume and increased product prices over the period.

As of Jan. 14, US$1 was equivalent to 6.89 Chinese yuan.