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Zhejiang Huayou Cobalt's H1'19 earnings slump 98% YOY to 32.8M yuan

Zhejiang Huayou Cobalt Co. Ltd. on Aug. 28 said its net profit attributable to shareholders for the first six months ended June 30 slumped 97.8% year over year to 32.8 million Chinese yuan from 1.51 billion yuan of the year-ago period.

EPS fell to 3 fen, compared with 1.4 yuan of a year earlier. Operating revenue increased by 34.2% year over year to 9.10 billion yuan from 6.78 billion yuan of the previous year.

Zhejiang Huayou Cobalt swung to a loss after deducting non-recurring items of 41.1 million yuan from the year-ago profit of 1.50 billion yuan.

The company produced 12,645 tonnes of cobalt during the period, an increase of 17.8% year over year.

As of Aug. 27, US$1 was equivalent to 7.16 Chinese yuan.