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ADD NEW ENERGY: Annual Report 2024
China Galaxy Securities: Medium to long-term conflicts in Steel supply and demand are intensifying, accelerating the supply-side reform in the Steel Industry.
Short-term imported iron ore may run weakly, potentially leading to a reduction in raw material costs, which is Bullish for domestic Steel companies. In the medium to long term, mainstream mines may also adjust their supply strategy under the changing landscape, increasing uncertainty in iron ore prices.
Latest assessment from Citigroup on the Steel Industry: Under the "pressure test" of tariffs, why have these two steel companies become the "first choice"?
Citi released the latest assessment report on the Steel Industry.
Hong Kong stock Concept tracking | Supply-side reform adjusts Steel supply, market focuses on the implementation status of domestic production restrictions (with related stocks)
Citi published a report on China's resource industry, stating that the announced tariffs by the USA have little impact on the Steel-related sub-industries.
《Performance》ADD NEW ENERGY (02623.HK) achieved a net profit of 61.72 million yuan for the year, an increase of 22.2%, not distributing dividends.
ADD NEW ENERGY (02623.HK) announced its 2024 annual results, with revenue of 0.282 billion RMB, a decrease of 77.7% year-on-year. It recorded a net profit of 61.72 million yuan, an increase of 22.2%, with earnings per share of 17.65 cents. No final dividend will be distributed.
Add New Energy Reports Revenue Decline but Increased Profitability in 2024