China Knowledge reported that Xiamen Tungsten Co Ltd has said that its unaudited net profit decreased 77.69% year on year to RMB 71.18 million in the first half of this year. Basic earnings per share for the period were at RMB 0.1, less than the RMB 0.47 it realized in the same period of 2012.
In a statement filed with the Shanghai Stock Exchange, the tungsten producer said that the decline of net profit was mainly due to decreasing price in tungsten products.
From Jan to Jun 2013, the company realized RMB 3.65 billion in unaudited operations revenue, reflecting a year on year decrease of 19.32%.
As of the end of last month, the company's total assets hit RMB 14.66 billion, 7.28% more than at the end of 2012.
Source - China Knowledge