APT sales price decreased 31.77%

Smi-annual report disclosed today, sandblasted tungsten target report shows that gold production during the first half of 2057.58 kilograms, an increase of 91.24% over the previous year. Including mineral gold 1280.79 kg, an increase of 84.51% over last year; smelting gold 776.79 kilograms, an increase of 103.48 percent over the previous year.
   However, during the reporting period by the economic crisis shadow antimony tungsten products prices much lower than a year earlier. The first half of antimony oxide, antimony paratungstate sales price decreased by 35.76%, 31.51% and 31.77%. In this unfavorable context, the company achieved a total sales income of 661 million yuan, representing a decrease of 2.71% over last year; operating profit of 51.71 million yuan, representing a decrease of 50.52% over last year; total profit of 48.63 million yuan, compared with the same period last year decreased 52.56 %; net profit attributable to parent company 36.48 million yuan, representing a decrease of 54.56% over last year. Looking ahead, said the company, the state introduced a tungsten antimony mineral resources protection control policies, from the exploitation of macro-control on the total amount, to a certain extent, ease the financial crisis to the antimony tungsten industry, the negative impact.
  Said that in order to overcome the adverse effects of the financial crisis, tungsten carbide inserts crises into opportunities, the Company enhanced cost management and quota consumption assessment, strict control of non-productive investment, the full implementation of refinement and standardization of management, strengthen the mine class classification subsidiaries guidance and technical services, production and operation of the first half and investment have achieved good results.
   During the reporting period, Gansu Chenzhou newly built 300 tons / day processing plant in the first half of the pre-production, production has basically into the normal, longhui Jinxinglou 600 tons / day processing plant expansion project and Hubei Pan Long new 500 t / day New projects are selected plant commissioning and enter debug; Xiang tungsten Industry 1500 tons / day processing plant expansion project is progressing well. The reporting period, the company ore processing capacity of 6,200 tons of total / day period increased 7.83% over last year.