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Yunnan Energy New Material Turns to Profit in H1; Shares Slide 3%

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Yunnan Energy New Material (SHE:002812) turned to an attributable profit of 820.3 million yuan in the first half, from an attributable loss of 93.1 million yuan in the year-ago period, according to a Tuesday filing with the Shenzhen Stock Exchange.

The maker of film products for cigarettes and batteries logged earnings per share of 0.8352 yuan compared with a loss per share of 0.0872 yuan in the prior-year period.

Operating revenue grew 50% year over year to 8.67 billion yuan from 5.76 billion yuan.

Directors also declared a dividend of 4.10 yuan per 10 shares, or 0.41 yuan per share.

Company shares fell 3% during afternoon trading on Tuesday.

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