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The steel sector fluctuated and declined. Ningxin New Materials fell more than 7%, while New Steel Co., Ltd., Zhongnan Co., Ltd., Hanggang Steel, CITIC Special Steel, Jinling Mining, and Baosteel shares followed suit.
The steel sector fluctuated and declined. Ningxin New Materials fell more than 7%, while New Steel Co., Ltd., Zhongnan Co., Ltd., Hanggang Steel, CITIC Special Steel, Jinling Mining, and Baosteel shares followed suit.
New Steel Co., Ltd. (600782.SH) announced first-quarter results with a net loss of 156 million yuan
According to the Zhitong Finance App, New Steel Co., Ltd. (600782.SH) disclosed its report for the first quarter of 2024. During the reporting period, the company achieved revenue of 11.294 billion yuan, a year-on-year decrease of 50.62%; a net profit loss of 156 million yuan to mother; and a loss of 241 million yuan in non-net profit. Basic earnings per share - $0.05.
New Steel Co., Ltd. (600782): Vigorously promoting reform and innovation will help reduce costs and increase efficiency
Guide to this report: Under downward pressure from the industry, the company's 2023 performance continues to be under pressure. However, after the company joined Baowu, it continued to push forward changes in institutional mechanisms, variety structure, etc., which is beneficial to its cost reduction and efficiency. We expect the company's profits to gradually return
New Steel Co., Ltd. (600782.SH) announced 2023 annual results, net profit of 498 million yuan, down 52.43% year on year
According to the Zhitong Finance App, New Steel Co., Ltd. (600782.SH) disclosed its 2023 annual report. The company achieved operating revenue of 71,143 billion yuan during the reporting period, a year-on-year decrease of 28.14%. Net profit attributable to shareholders of listed companies was 498 million yuan, a year-on-year decrease of 52.43%. Net loss attributable to shareholders of listed companies after deducting non-recurring profit and loss was 296 million yuan, which changed from profit to loss over the previous year. Basic earnings per share were 0.16 yuan/share. It is proposed to distribute a cash dividend of 1.50 yuan (tax included) for every 10 shares.
Shareholders in Xinyu Iron & Steel (SHSE:600782) Have Lost 32%, as Stock Drops 3.6% This Past Week
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term Xinyu Iron & Steel Co.
Oriental Securities: Non-ferrous steel is expected to reassess the value of central state-owned enterprises. It is recommended to focus on these targets
The Zhitong Finance App learned that Oriental Securities released a research report indicating that as of December 2023, there were 97 enterprises directly managed by the central government in China, with a total of 12 central state-owned enterprises in the mining, metallurgy, gold, and steel sectors, second only to strong monopoly industries such as energy and power. Among them, the non-ferrous steel sector is an important part of the market value assessment of central state-owned enterprises. In particular, steel and aluminum account for a relatively large share of the market value. It still has great potential in promoting the asset quality of listed companies through mergers and restructuring, resolution of related transaction issues, and increase dividend rates, etc., and is expected to have a leading effect. Recommended target: Baowu System: Baosteel Co., Ltd. (600019.SH)
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