December 10 -- Nanjing Yunhai Special Metals （002182） expects 2010 net profit attributable to shareholders to surge by between 460 percent and 510 percent year-on-year to 28-31 million yuan, reports Securities Daily, citing a company filing.
The board secretary of the company attributes the growth to the lower base in 2009.
The major products of Yunhai Metals are aluminum alloy and magnesium alloy, which contribute 54.45 percent and 36.26 percent of its total revenue in the first half of 2010.
The average profit margin of aluminum and magnesium alloy was 7.9 percent in the first half.
The company has been focusing on expanding the capacity of aluminum alloy in 2010 due to the slow recovery of magnesium market.
A nonferrous metal industry analyst from Yingda Securities said Yunhai Metals has expanded its aluminum alloy capacity to 285,000 tons.
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