News Column

Huaze Cobalt and Nickel H1 Net Up 385% to CNY69.3mn

August 18, 2014

CHENGDU, August 18, SinoCast -- Chengdu Huaze Cobalt and Nickel Material (SZSE: 000693) posed operating revenue of about CNY 3.68 billion for the first half of 2014, up 176.53% year on year. Net profit attributable to shareholders jumped 385.02% CNY 69.3 million. Basic EPS was CNY 0.1271.

Indonesia's ban on the export of mineral ore delivered a strong impact on China's stainless steel industry, which regards ferronickel as a major nickel metal source. The demand for nickel metal rose and the price increased as a result.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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