Sina News
Zhangyuan Tungsten achieved an operating income of RMB 830.57 mln in Q3 2022, up 6.18% y-o-y; however, the net profit attributable to the parent company was RMB 36.15 mln, down 35.54% y-o-y. In the first three quarters of 2022, Zhangyuan Tungsten achieved an operating income of 2.51 bln up 23.04% y-o-y and net profit attributable to the parent company was RMB 177.83 mln up 90.55% y-o-y.
The net profit growth during the first three quarters of 2022 can be attributed to increased sales and rising profitability during the period y-o-y. The decline in Q3 2022 profits was mainly driven by declining prices of tungsten and no sales of side products including tin and copper during the period.
