Jinchuan Technology's net profit increased 11 times last year, the price of cobalt continued to rise

On the evening of April 24, Jinchuan Technology released its annual report. In 2017, the company achieved operating income of 4.217 billion Yuan, an increase of 100.39% over the previous year; net profit of 928 million Yuan, an increase of 1152.36% over the previous year. The gross profit margin was 25.99%, which was significantly higher than the 9.11% in the same period of last year.

Regarding the main reason for the sharp increase in operating income, the company said that the price of cobalt metal continued to rise. The price of the company's products followed, and the sales revenue increased significantly.

Jinchuan Technology is a metal cobalt, cobalt trioxide, nickel cobalt manganese ternary precursor manufacturer, which is used in lithium cobalt oxide cathode materials for battery, lithium nickel cobalt manganese oxide cathode materials and heat resistant alloys, magnetic materials and catalysts. In January 2017, the company signed a listing counseling agreement with Hualong Securities and is currently in the IPO counseling period.

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