China's Qinfa (00866) fell by more than 5%. As of press release, it was down 5.1% to HK$0.465, with a turnover of HK$1,677,500.
The Zhitong Finance App learned that China's Qinfa (00866) fell by more than 5%. As of press release, it fell 5.1% to HK$0.465, with a turnover of HK$1,677,500.
According to the news, China's Qin Fa issued a profit warning. The Group expects to obtain profit after tax of not more than RMB 200 million for the year ending December 31, 2023. The profit after tax for the same period last year was approximately RMB 490 million, down about 59% from the previous year. Mainly due to the year-on-year decline in average coal sales prices of about 21%; a 15% year-on-year increase in coal operation and trade volume; and impairment losses of property, plant and equipment, and coal mining rights due to a decrease in average coal sales prices.