Tibet Mineral Development net profit plunges in Q1 2025

Tibet Mineral Development (SZSE:000762) reported a significant decline in financial performance for the first quarter of 2025. Net profit attributable to shareholders was CNY -13,439,922.41, a 156.77% decrease compared to the same period last year when it was CNY 23,672,747.97. Revenue also decreased by 54.16% to CNY 67,741,157.68. The company attributed the revenue decline to decreased sales and lower average selling prices of its products. Operating cash flow also declined, falling 60.16% to CNY 11,186,210.20, reflecting the impact of reduced sales. Basic and diluted earnings per share both show a steep decline of 156.83% to CNY -0.0258. The company has stated there is no change in accounting methods.