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China Oriental Group Logs Operating Profit of 57 Million Yuan in July-September
China Oriental (00581.HK) reported an annual operating profit decline of 84.59% last season.
China Oriental (00581.HK) announced that the sales volume of self-produced steel products for the three months ending September this year is approximately 1.7 million tons, a decrease of 10.53% year-on-year. The gross profit per ton of self-produced steel products is about 50 to 100 Chinese yuan. During the period, the operating profit after deducting the net financial cost is about 57 million Chinese yuan, a year-on-year decline of 84.59%.
china oriental (00581.HK): The sales volume of self-produced steel products in the third quarter is approximately 1.7 million tons.
Gelonghui reported on November 22 that china oriental (00581.HK) announced that for the three months ending September 30, 2024, the sales volume of the steel products produced by the group was approximately 1.7 million tons, with a gross profit of about 50-100 yuan per ton for the self-produced steel products. After deducting net financial costs, the operating profit was approximately 57 million yuan.
Brokerage Morning Meeting Highlights: The historical bottom of real estate stock valuation may have been established.
At today's brokerage morning meeting, China Securities Co.,Ltd. proposed supply-side optimization, suggesting to focus on industries such as steel, photovoltaic, cement, coal, and rare earths; htsc stated that domestic sales of household appliances are improving with stable exports, focusing on two major themes for the year 2025; China International Capital Corporation believes that the historical bottom of real estate stock valuation may have been established.
Market Update | Hong Kong steel stocks have surged! The China Securities Regulatory Commission has released guidelines for market cap management, and the steel sector is expected to undergo valuation recovery.
On November 15, the Securities Regulatory Commission issued guidelines for market cap management, establishing market cap management systems for major index constituent stocks and making special requirements for long-term companies trading below net asset value to disclose value enhancement plans.
China Securities Co., Ltd.: Real estate policies drive a recovery in the steel industry, with crude steel monthly production rebounding for the first time since June.
From January to October, domestic pig iron production was 715.11 million tons, a year-on-year decrease of 4%; crude steel production was 850.73 million tons, a year-on-year decrease of 3%; steel production was 1164.84 million tons, a year-on-year increase of 0.5%. In October, pig iron and crude steel production grew by 1.4% and 2.9% respectively, marking the first rebound since June.
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