The copper foil market is in short supply Tongling Nonferrous Metals' net profit soared by 204% last year
The rise in the price of copper allowed Tongling Nonferrous to produce a splendid performance report in 2017. "Securities Daily" reporter learned from the company recently that the current supply of copper foil market, processing costs continue to remain high.
Rapid increase in product prices
On April 13, Tongling Nonferrous Metals disclosed its 2017 annual report. During the period, it achieved operating revenue of 82.43 billion yuan, a slight decrease of 4.90% year-on-year, but net profit attributable to the parent company was 549 million yuan, a substantial increase of 204.35% year-on-year. As of the end of 2017, the company's total assets were 47.794 billion yuan and its net assets were 18.575 billion yuan.