September 08, 2008

Luoping Zinc net profit in 2007 up by 14% YoY

Interfax China reported that Yunnan Luoping Zinc and Electricity Co. Ltd, which is listed on the small and medium sized enterprise board of the Shenzhen Stock Exchange, reported that it's net profit in 2007increased by 14.35% YoY to CNY 100.39 million (USD14.25 million). Luoping Zinc generated operating revenue of CNY 1.24 billion in 2007 up by 26.24% YoY.

It attributed the hike in operating revenue and net profit to increased production and sales, despite a zinc ingot price decline in the second half of 2007.

In 2007, Luoping Zinc produced 5,268 tonnes of zinc and 2,701 tonnes of lead, both in concentrate form, as well as 50,288 tonnes of zinc ingot up 44.35% YoY and 240.22 tonnes of cadmium up by 34.24% YoY. It also produced 1.91 tonnes of germanium in concentrate form, 1.65 tonnes of indium ingot, 3,561 tonnes of zinc powder and generated 266.28 million kilowatt hours of electricity up 4.52% YoY.

Luoping Zinc intends to boost its electrolytic zinc production capacity from a current 60,000 tonnes per annum to 80,000 tonnes per annum by the end of 2008, and to an eventual 120,000 tonnes per annum through an ongoing technical upgrade project.