Zijin Mining released its 2014 quarterly report on the evening of the 29th. The company achieved operating income of 10.76 billion yuan, a slight decrease of 8.58% year-on-year and a net profit of 520 million yuan, a year-on-year decrease of 27.64%.

Although the company's performance indicators have declined from various data, the company's decline is much smaller than that of the international industry giants. In terms of operating income, Zijin Mining's sales of various products increased, but revenue growth was offset by a sharp drop in metal prices year-on-year, compared with 11.8 billion yuan in the same period last year. This year it fell slightly to 10.8 billion, a decrease of 8.58%. Although the net profit fell by 27.64% compared with 720 million yuan in the same period of last year, in terms of profit, it has been forced by international mining giant Newmont, and the unit sales cost has also dropped significantly.

According to the announcement, the price of smelting products in Zijin Mining fell in the first quarter, affecting the income reduction by 1.895 billion yuan, and the decline in the price of mining products affected the income by 705 million yuan.

Recently, important gold producers at home and abroad have successively released their first-quarter results. Due to the sharp drop in international gold prices, global gold companies have been “out of the tide” compared to the same period last year. In the first quarter of this year, the world gold price fell to 1,293 US dollars / ounce, compared with the same period last year of 1,630 US dollars / ounce, gold corporate profits again under pressure. Newmont Mining, which is known as the "world's second-largest gold", has fallen to a net profit of $100 million from last year's $310 million, a drop of 68% year-on-year. The domestic CICC shares are also not optimistic. The net profit attributable to the parent company in the first quarter slipped from 390 million yuan last year to 130 million yuan this year, a decrease of 66.15%.

Analysts believe that from the data, in the first quarter, the major economic indicators of the three major gold companies have experienced varying degrees of decline, but Zijin Mining's slide margin is much smaller than the other two, indicating that its team has carried out effective price decline measures. Reflecting the company's ability to withstand pressure and risk in the market "shuffle".

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