Zhongjin Gold Corp. Ltd. on Aug. 19 said its net profit attributable to shareholders dropped 41% year over year in the first six months.
The gold producer's net profit attributable to shareholders during the period fell to 73.4 million Chinese yuan from 124.5 million yuan of a year earlier. EPS was reduced to 2 fen from 4 fen of a year earlier.
The company said its gold production in the first half was hurt as some of its operations were ordered to be suspended due to tighter environmental regulations in China. Zhongjin Gold mined 11.8 tonnes of gold during the period, a yearly drop of 4.5%. Refined gold production fell by 10.7% year over year to 33.1 tonnes and smelted gold production fell 13.7% to 17.9 tonnes from the prior year.
Operating revenues were up 3.8% to 16.71 billion yuan from 16.10 billion yuan of the previous year.
The company's net profit attributable to shareholders after deducting non-recurring items came in at 61.1 million yuan, 44% lower compared to 109 million yuan of the previous year.
As of Aug. 19, US$1 was equivalent to 7.05 Chinese yuan.
