Baowu Magnesium released its third quarter financial report, and the magnesium industry has a promising future

Baowu Magnesium Company achieved revenue of 6.347 billion yuan in the first three quarters of 2024, a year-on-year increase of 14.1%; net profit attributable to the parent company was 154 million yuan, a year-on-year decrease of 25.9%; non-net profit after deduction was 124 million yuan, a year-on-year decrease of 33.7%. Among them, revenue in the third quarter was 2.271 billion yuan, a year-on-year increase of 11.9% and a month-on-month increase of 2.7%; net profit attributable to the parent company was 34 million yuan, a year-on-year decrease of 60.6% and a month-on-month decrease of 42.5%. Baowu Magnesium has a complete magnesium industry chain. Its three major raw magnesium bases and four major magnesium alloy bases have a production capacity of more than 500,000 tons/year respectively. The company is moving towards the field of deep processing and has achieved remarkable cooperation results in the fields of automobiles, building formwork, magnesium hydrogen storage and other fields.