Naipu Mining disclosed its semi-annual report, posting an attributable net loss of 11.76 million yuan in the first half, down 169.24 percent year on year, swinging from profit to loss. The company achieved operating revenue of 497 million yuan in the first half, up 20.38 percent year on year, but financial expenses reached 41.8 million yuan, surging 967.01 percent year on year. The company attributed this to exchange rate fluctuations, with exchange losses becoming the primary cause of the loss. Overseas revenue was 290 million yuan, accounting for 58.34 percent of the total, and the expanded foreign currency settlement exposure directly eroded profits. Net cash flow from operating activities was negative 1.6968 million yuan, down 803.99 percent year on year. The asset-liability ratio rose to 50.19 percent, and the interest coverage ratio plunged from 3.47 times to 0.09 times.
Jiangxi Naipu Mining MachineryCompany swung to a net loss due to exchange losses and surging financial expenses, with cash flow and interest coverage deteriorating.
