China Commodity Market Place
Guangsheng Nonferrous Metals’ 2019 annual report shows the company’s operation revenue grew by 87.5% y-o-y to RMB4.51 bln. Net profit attributed to the listed shareholders was RMB44.11 mln in contrast to a net loss of RMB266 mln in 2018.
During the reporting period, the company’s tungsten concentrate production dropped by 40.7% and sales fell by 35.03% y-o-y. The result was a consequence of the company reducing operations during the year, in the wake of ore depletion and weak prices.