Shengshi Container (00716) fell nearly 7% at the end of the session. As of press release, it was down 5.08% to HK$0.56, with a turnover of HK$10.08 million.
The Zhitong Finance App learned that Shengshi Container (00716) fell nearly 7% at the end of the session. As of press release, it was down 5.08% to HK$0.56, with a turnover of HK$10.08 million.
According to the news, Shengshi Container announced its 2023 results, achieving a turnover of US$382 million, a year-on-year decrease of 50.74%; the company's shareholders should account for profit of US$19.438 million, a year-on-year decrease of 58.05%; a basic profit of 0.82 cents per share, with a proposed final dividend of 4 Hong Kong cents per share.
According to the announcement, the decline in turnover and average sales price was due to overproduction of containers in 2021, leading to a decline in demand for dry containers. Coupled with weak global trade, it directly affected gross profit margins.