Zhongbao New Materials (02439) rebounded sharply by more than 16%. As of press release, it rose 16.05% to HK$0.47, with a turnover of HK$2.39 million.
The Zhitong Finance App learned that Zhongbao New Materials (02439) rebounded sharply by more than 16%. As of press release, it had risen 16.05% to HK$0.47, with a turnover of HK$2.39 million. Previously, the company's stock price plummeted 85% on January 19 and 22 trading days.
According to reports, based on the sales revenue of disposable biodegradable plastic products in 2021, Zhongbao New Materials ranked fourth among all disposable biodegradable plastic product manufacturers in China, accounting for about 2.6% of the market share in 2021, and ranked first among all disposable biodegradable plastic product manufacturers in Northeast China, with a market share of 29.6%.
Analysts said that China's disposable biodegradable plastic products market is scattered, with about 1,200 market operators on December 31, 2021. Zhongbao New Materials not only faces competition from existing competitors in the industry, but also faces threats from new entrants. Furthermore, as the biodegradable plastics industry further improves the product standard system, strengthens market supervision and management of degradable labeling, and increases the punishment of “pseudo-degradable” products, it will accelerate the elimination of small-scale and technologically weak enterprises.