Huabao International (00336) fell nearly 8%, and the intraday low of HK$2 hit a new low since February 2017. As of press release, it decreased by 5.99% to HK$2.04, with a turnover of HK$1.51 million.
The Zhitong Finance App learned that Huabao International (00336) fell nearly 8%, and the intraday low of HK$2 hit a new low since February 2017. As of press release, it decreased by 5.99% to HK$2.04, with a turnover of HK$1.51 million.
According to the news, Huabao International recently announced that Huabao shares, a subsidiary of the company, are expected to achieve net profit of 300 million to 440 million yuan (RMB, same below) for the year ended December 31, 2023, a year-on-year decrease of 39.3% to -58.62%.
According to the announcement, in 2023, due to multiple effects of factors such as changes in downstream market demand for Huabao products and customer independent flavoring, Huabao's product structure changed, and operating income and gross margin levels declined, leading to a decline in net profit attributable to Huabao shareholders.