Mingtai Al. Net Profits Dropped 65%-75% to 65,000 Thousand Yuan

(China Aluminum Network) Henan Mingtai Al. Industrial Co., Ltd announced net profits of shareholders of the listed company was about 65,000 thousand yuan in 2012, compared with the expectation decreased 65%-75%.

The announcement showed company’s net profits was 0.256 billion yuan in 2011, basic EPS was 0.72 yuan.

The company said the following two reasons caused sales decreasing, aluminum ingot price inversion between domestic and overseas and LME aluminum ingot price lower than domestic leaded declined in profits level of company export products. Also affected by domestic and overseas economy environment, sluggish market demand, decreased products added value, decreased sales revenue in 2012 and increased cost of production leaded company’s profit space shrinked.

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