SouthGobi Reschedules Key Shareholder Decisions
South Gobi (01878) performance plummeted 30% the day after that: the coal center is about to move up, but business continuity has become a “near concern”
South Gobi (01878), where the stock price often rides the “roller coaster,” and once again, it is on the stock price roller coaster. In early trading on May 16, South Gobi's stock price fell rapidly. At one point, it fell nearly 30%. In the end, the stock price plummeted by 28.04% to HK$4.26. The next day, its stock price broke out of yesterday's sharp decline, rising slightly by 4.23% to HK$4.44. The latest market value was HK$1,313 billion. As a typical “small-cap stock” in the Hong Kong stock market, its stock price often shows a “steep” trend due to capital speculation, and sharp rises and falls are “commonplace.” For example, it was recorded close to February 16 and 22
Express News | National Bureau of Statistics: In April, industrial raw coal production of 370 million tons fell 2.9% year on year
Express News | Cathay Pacific Junan: Releasing the downside risks of coal and looking forward to greater flexibility
Changes in Hong Kong stocks | After the South Gobi (01878) results, it plummeted by nearly 30%, net profit increased by nearly 56% in the first quarter, and the company's ability to continue operating is questionable
South Gobi (01878) plummeted by nearly 30% after the results. As of press release, it fell 26.69% to HK$4.32, with a turnover of HK$62.4063 million.
SouthGobi Resources Books Higher Profit, Revenue in Q1
SouthGobi Resources (HKG:1878) reported a $12.3 million net profit attributable to equity holders for Q1, up from $7.9 million from the same period last year, according to a filing with the Hong Kong
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Coal prices are rebounding or being suppressed! Production declined markedly in the first 4 months, and expectations for increased coal production in Shanxi are heating up
In the first four months of this year, there was a significant year-on-year decline in coal production capacity in the Shanxi region. Combined market prices dropped more than in the same period last year, and the profitability of some listed companies in the coal industry in Shanxi declined markedly. Meanwhile, under the annual coal production capacity task in Shanxi Province, the industry expects coal production in Shanxi Province to increase starting in May.
SouthGobi's Improved Operations Boost Exports
SouthGobi Discloses Q1 2024 Financials
South Gobi (01878.HK) operating profit in the first quarter was US$32.1 million
South Gobi (01878.HK) announced that the company recorded operating profit of US$32.1 million in the first quarter of 2024 and US$27.9 million in the first quarter of 2023. Earnings for the first quarter of 2024 were $82.2 million, compared to $61.8 million for the first quarter of 2023. Financial performance was affected by increased sales due to the expansion of the sales network and diversification of the customer base.
SOUTHGOBI: SOUTHGOBI ANNOUNCES UNAUDITED FIRST QUARTER 2024 FINANCIAL AND OPERATING RESULTS
Haitong Securities: 24Q1 performance is under pressure, coal may still fluctuate and adjust in the short term
Currently, the prices of thermal coal and coking coal have both entered the bottom fluctuation range, but the upward trend is yet to be further boosted by the demand side.
Express News | GF Securities: Coal prices continue to rise, supply and demand are improving steadily, and valuation flexibility can be expected
Hong Kong Stock Concept Tracking | Expectations are about to drive demand for coal to drive coal prices to rebound at the bottom of the summer season (with concept stocks)
The Zhitong Finance App learned that last week, the coal market showed a strong upward trend. The spot price of thermal coal in ports rose 31 yuan/ton month-on-month to close at 860 yuan/ton. Tianfeng International believes that the recent month-on-month rise in thermal coal prices is due more to supply-side contraction. Meanwhile, on the port side, downstream inquiries have gradually increased, and some demand for bottom checks has been released, giving port traders a strong will to raise prices. Considering entering the peak season for traditional thermal coal, Dongwu Securities analysts believe that coking coal prices will follow the rise in thermal coal prices, but thermal coal prices are more flexible, which is the first driving force for highly elastic coal targets. Related Targets: South Gobi (01
SouthGobi Amends Terms for Flexible Debt Repayment
Tianfeng International: What are the future expectations of the coal price increase industry?
Regarding the recent month-on-month rise in thermal coal prices, it is mostly due to supply-side contraction. Coking companies have maintained a strategy of low inventory for a long time. Currently, coking coal stocks are at their lowest level in nearly 5 years.
Coal prices fluctuated weakly in Q1, with net profit from coal companies falling mainly year-on-year
It is expected that the relationship between coal supply and demand will be difficult to further relax in 2024. With the arrival of the peak summer season, there is little room for further decline in domestic coal prices; moreover, there are still marginal improvements in economic stabilization policies such as real estate and infrastructure in the later stages, and demand for coal is very rigid.
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Guojin Securities: The first rise in coal prices in the beginning of the year is expected to pull back slightly in May after the off-season catalyzed by port storage
After the off-season coal prices fell under pressure in March-April, coal prices in the port market are expected to bottom out in May, but the increase is limited. Judging from the 1-2 M24 coal price fluctuation experience, whether the port can successfully go to storage is an important condition for whether market coal prices can recover after the off-season.
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