Shandong Humon Smelting reports mixed Q1 amid audit concerns

Shandong Humon Smelting (SZSE:002237) reported a Q1 2025 revenue of CNY18.96 billion, down 8.88% compared to the same period last year, and net profit attributable to shareholders of CNY156.35 million, a 10.52% increase. Operating cash flow saw a significant decrease, falling 307.92% to negative CNY2.63 billion. The company noted a 40.18% increase in inventory due to rising metal prices. One director, Wang Yongmei, was unable to guarantee the accuracy and completeness of the report. The company also reported a safety incident from 2023 that is still affecting their financial standing. The company noted that as of April 24th, 2025, CNY671,800.00 of "Humon Convertible Bonds" have been converted to shares.