Baowu Magnesium's third quarter financial report released, revenue increased but net profit declined

On October 29, Baowu Magnesium released its third quarter financial report for 2024. The report showed that the company achieved operating income of 6.347 billion yuan in the first three quarters, a year-on-year increase of 14.09%. However, the net profit attributable to the parent company declined to 154 million yuan, a year-on-year decrease of 25.88%. This result was mainly due to the decline in magnesium prices and the reduction in gross profit of magnesium alloy products.