Chinese cobalt producer GEM posted a strong net profit in 2017 against a backdrop of robust sales of battery materials and higher cobalt prices, according to the company's preliminary earnings report released on Tuesday February 27.
The Shenzhen-listed company achieved a net profit of 602.8 million yuan ($95.5 million) last year, an increase of more than 125% from the 263.7 million yuan profit posted in 2016.Its total revenue was also up by 34.3% year-on-year to 10.5 billion yuan last year. The...