Yunnan Energy New Material Projects H1 Turnaround; Shares Down 7%
Yunnan Energy New Material (SHE:002812) forecasted first-half attributable net profit of between 736.0 million yuan and 900.0 million yuan, compared with loss of 93.1 million yuan the previous year. The turnaround is attributed to booming demand in the downstream lithium battery separator market and price recovery, according to a Friday filing with the Shenzhen bourse. H1 basic earnings per share will range between 0.75 yuan and 0.92 yuan, versus last year's loss per share of 0.10 yuan. Shares of the new materials manufacturer fell nearly 7% in recent trade.
Yunnan Energy New Material (SHE:002812) forecasted first-half attributable net profit of between 736.0 million yuan and 900.0 million yuan, compared with loss of 93.1 million yuan the previous year.
The turnaround is attributed to booming demand in the downstream lithium battery separator market and price recovery, according to a Friday filing with the Shenzhen bourse.
H1 basic earnings per share will range between 0.75 yuan and 0.92 yuan, versus last year's loss per share of 0.10 yuan.
Shares of the new materials manufacturer fell nearly 7% in recent trade.