Shenghe Resources Sees Up to 147% Profit Jump in H1; Shares Slide 8%
Shenghe Resources (SHA:600392) expects its attributable net profit for the first half to surge between 112% and 147% year over year, to about 800 million yuan to 930 million yuan, according to a Shanghai bourse filing on Saturday.Net profit a year earlier was 376.9 million yuan.The Chinese rare earth miner attributed the growth to positive demand for major rare earth materials and higher selling prices of its products.Shenghe's shares fell 4% recently.