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Orchid Science and Technology Innovation (600123): Short-term decline in coal prices can be expected to drag down coal production growth
Event Overview: The company recently released the 2023 Annual Report and the 2024 Quarterly Report. In 2023, the company achieved revenue of 13.28 billion yuan, a year-on-year decrease of 6.2%; net profit to mother was 2.10 billion yuan, a year-on-year decrease of 34.9 billion yuan
A-share afternoon review: Shanghai index rose 0.33%, leading the way in copper high-speed connectors and low-altitude economic concepts
Major A-share indices had mixed ups and downs. As of the midday close, the Shanghai Index rose 0.33% to 3031.96 points, the Shenzhen Stock Exchange Index closed flat, and the GEM index fell 0.09%.
Coal stocks fluctuated and declined, and Orchid Science and Technology Innovation fell more than 7%
Coal stocks fluctuated and declined, with Orchid Science and Technology falling more than 7%, while Shanxi Coking, Lu'an Huaneng, Dayou Energy, Panjiang Shares, and Shanxi Coking Coal followed suit.
Guohai Securities released a research report on April 23 stating that it gave Orchid Science Innovation (600123.SH) a purchase rating. The main reasons for the rating include: 1) coal business: increase in production and sales, price decline; 2) coal chem
Guohai Securities released a research report on April 23 stating that it gave Orchid Science Innovation (600123.SH) a purchase rating. The main reasons for the rating include: 1) coal business: increase in production and sales, price decline; 2) coal chemical business: improvement in urea production, sales and profit, continued discontinuation of dimethyl ether production, and continued loss of caprolactam; 3) dividends: dividends for the first three quarters correspond to the annual dividend rate of 53.1%. (Mainichi Keizai Shimbun)
Minsheng Securities released a research report on April 23 stating that it gave Orchid Science Innovation (600123.SH) a recommended rating. The main reasons for the rating include: 1) the sharp reduction in the four fees in 2023, which dragged down perfor
Minsheng Securities released a research report on April 23 stating that it gave Orchid Science Innovation (600123.SH) a recommended rating. The main reasons for the rating include: 1) the sharp reduction in the four fees in 2023, which dragged down performance; 2) 24Q1 coal price decline, reduced investment income, and sharp increase in income tax rates caused loss of profits; 3) cash dividends of 53.10% in the first three quarters, with a dividend rate of 7.0%; 4) coal business profits were damaged, and there was plenty of room for future expansion; 5) 24Q1 was affected by the shutdown of production and emission reductions, and the gross margin increased. (Daily economy
Review of the 2023 Annual Report and 2024 Quarterly Report of Orchid Science and Technology (600123): Performance falls short of expectations, and the increase in coal production can be expected in the future
Event: On April 22, 2024, the company released its 2023 annual report and 2024 quarterly report. In 2023, the company achieved operating income of 13.284 billion yuan, a year-on-year decrease of 6.16%; net profit to mother2
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