China's Sanjiang Chemical (02198) rose more than 7% after profit. As of press release, it rose 6.72% to HK$1.27, with a turnover of HK$1,608,500.
The Zhitong Finance App learned that China's Sanjiang Chemical (02198) rose more than 7% after profit. As of press release, it had risen 6.72% to HK$1.27, with a turnover of HK$1,608,500.
According to the news, China Sanjiang Chemical announced that the Group expects to obtain a net profit of 20 million yuan to 60 million yuan (RMB, same unit) for the year ending December 31, 2023, and a net loss attributable to the parent company owner of about 308 million yuan in the same period last year.
According to the company announcement, the expected turnaround of losses to profit is mainly due to maximizing overall production capacity for ongoing projects; it involves several one-time projects of Lotte Chemical Co., Ltd. In addition, the company has made provision for impairment of certain production facilities and inventory.