On April 30, Pengxin Mining released the first quarter report 2019. The company earned operating income of 4.148 billion Yuan and 43.5657 million Yuan belonged to the deductible non-net profits of the listed company’s shareholders. In the report period, its operation remained stable and its performance is in line with expectations.

    In the past year, under the circumstances of tense trade between China and the US, slowing growth in the world economy and low mineral prices because of weak global demand for industrial goods, global mining companies experienced a severe capital winter and performance fluctuation. But Pengxin Mining has actively followed the counter-cyclical M & A（Merger & Acquisition）rhythm to disperse investment risks, improved its ability to resist cyclical fluctuations, conformed to the direction of national strategy to acquire mineral resources with better economic benefits, and constantly enriched its mineral species and explored opportunities for future appreciation in asset value. Compared with other companies in the same industry, Pengxin Mining stood in the forefront of the industry in maintaining and increasing the value of assets and operating steadily.

    In addition to multi-industry expansion leading to the steady growth in corporate performance, the company’s advanced light assets and liabilities structure and abundant operating cash flow are the key approaches to support the company's continuous capital operations and acquisition and integration of high-quality resources. Under the leadership of the board of directors, the company has strengthened technological innovation, further enhanced its core competitiveness, established a matching organizational structure and institutional system, gradually set up an all-round talent echelon based on the corporate strategic identity and uniform sense of honor and disgrace, continued to deepen the business transformation and upgrade to lay a solid foundation for the sustainable development of the company.

    Pengxin Mining said that in 2019, the company will continue to work together to promote the four major sectors -“mining production, new energy, international trade and finance”. As the economy will be recovered gradually and synergistic resonance is being strengthened among the various business sectors, along with capacity convergence of multi-layout and release of benefits of capital operation integration in the early stage, the company will step into a new stage of all-round development and high-speed growth to accelerate the pace towards "global leading provider of integrated resources." 

From WWW.CHINANEWS.COM