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China's biggest zinc producer looses RMB 1.09 bln in 2011

Apr. 25, 2012 (China Knowledge) - Huludao Zinc Industry Co<000751> China's largest producer of the metal by capacity, announced yesterday that it suffered a loss of RMB 1.09 billion last year, larger than the loss of RMB 583 million in 2010.

Losses per share were RMB 0.98 in 2011, up from RMB 0.53 in 2010.

The zinc producer said the widened loss was due to falling zinc prices amid weak demand

Huludao Zinc Industry's operating revenue fell 11.87% year on year to RMB 6.90 billion last year.

The company's output of zinc dropped 12.1% year on year to 330,000 metric tons in 2011, and that of lead declined 2.73% year on year to 15,800 metric tons. The firm produces 510,000 metric tons of sulfuric acid and 386,000 metric tons of silver.

Huludao Zinc Industry also said that it booked a loss of RMB 113 million in the first quarter of this year, more than the RMB 48.49 million recorded in the same period of 2011.

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