Chinese Yunhai Special Metals’ net profit drops in H1 2020
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Update time : 2020-07-29 22:37:20
Nanjing Yunhai Special Metals Co., Ltd., a China-based alloy company, reported that its operating income was around RMB 2.52 billion in the first half of this year, growing by 2.34% compared to the same period a year ago. The net profit attributable to the parent company was around RMB 97 million during the period, a year-on-year decrease of 65.08%, mainly due to subsidy of demolition subjects from the government in the same period of 2019.
From January to June, the sales volume of Yunhai Special Metals' main products, aluminum alloys and magnesium alloys, had a year-on-year increase, which wasn’t affected by the sluggish market amid the COVID-19 epidemic.
