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Provider: Thomson Reuters Stock Report

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Xinjiang Xinxin Mining Industry Co Ltd Comments On FY 2012 Earnings Guidance

Monday, 28 Jan 2013 11:17pm EST 

Xinjiang Xinxin Mining Industry Co Ltd announced that the financial results of the Group for the year fiscal 2012 are expected to decrease significantly as compared to those for the fiscal 2011. The Company considers that as affected by European debt crisis and the slowdown of economic growth in China, the international and domestic prices of nickel and copper continued to fall in the fiscal 2012. Despite double digit growth rates were recorded in the production volume and sales of the Group’s main products and there was a decrease in the production cost for the fiscal 2012 as compared to the fiscal 2011, the profit after tax of the Group is expected to significantly decline since the average selling prices of the Group’s nickel cathode and copper cathode dropped by approximately 22.0% and 9.6%, respectively, as compared to that of the fiscal 2011. 

Company Quote

-0.08 -4.55%
16 Sep 2014