30
Apr
04:39
Zangge Mining reports 42.5% drop in Q1 net profit
Shenzhen-listed lithium miner Zangge Mining posted a 42.5% on-year decline in its Q1 net profit on Tuesday on the back of collapsing lithium carbonate prices, Kallanish learns.
The company saw its net profit shrink to CNY 529 million ($73m). Operating income fell 55.3% to CNY 614m, while the gross sales profit margin declined by 19 percentage points to around 50.14%.
The financial performance was attributed to the sharp drop in the selling price of lithium carb…
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Very good overview of the weekly steel market.
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