Mobile phone: 13065499999
Address (Add): Nanzhao Tie Village, Pailou Town, Haicheng City, Liaoning Province
Small losses do not change the trend of big turning point: in the first quarter of 2013, the company realized 781 million yuan of operating income, an increase of 4.66% compared with the previous year; the net profit of shareholders belonging to listed companies was - 536.2 million yuan, an increase of 93.59% compared with the previous year; the basic earnings per share was - 0.002 yuan, an increase of 93.67% compared with the previous year. The first quarter is the traditional off-season of the company, and the new production line contributes less output, the company's performance is in line with expectations. Although the first quarter is still in a loss state, but do not change the trend of the company's performance turning point, magnesium era is coming. The fall in aluminium prices has dragged down performance and weakened its impact in the future: in the first quarter of this year, the company's aluminium alloy business has a greater drag on performance due to the continued fall in aluminium prices (down nearly 1,000 yuan/ton) and the reduction of profit margins. At present, the aluminium price (14400 yuan/ton, including tax price) has been lower than the average operating cost line of most electrolytic aluminium enterprises. Although the production capacity of electrolytic aluminium in China is gradually shifting to low-cost areas such as the west, we believe that the possibility of a sustained and rapid decline in aluminium prices in the short term is not likely. A steady or slow decline in aluminium prices will help improve profitability. At the same time, the company is improving the automation and recycling technology of the aluminium alloy production line. In 2013, the profitability of the company's aluminium alloy business will rebound from the bottom. There is no doubt that the big turning point of magnesium alloy business profit is: Wutaiyunhai has been in normal operation (January-August 2012 to achieve a break-even profit, the current monthly profit is still acceptable), Chaohu Yunhai production commissioning is nearing the end, this year will contribute about 20,000 tons of output, and the gross profit rate of magnesium alloy products will continue to rise in the future. Because of the strong demand of downstream automobile and 3C industries, the company's orders are very full. The "qualitative change + quantitative change" of profitability will continue to contribute positive energy to the company's magnesium alloy business performance. There is no doubt that the profit inflection point is big. The company expects medium-term performance growth of 49.92-98.66%. The company expects net profit attributable to shareholders of Listed Companies in the first half of 2013 to be 815-10.8 million yuan, an increase of 49.92-98.66% over the same period last year. This also verifies our judgment on the big turning point of company performance. In the future, with the sustained development of magnesium alloy business and the weakening of aluminum alloy business, the company's performance will enter a rapid release period.