China Oriental Group (00581) fell by more than 10%, down 13.91% at press time, to HK$0.99, with a turnover of HK$2.95 million.
The Zhitong Finance App learned that China Oriental Group (00581) fell by more than 10% and fell 13.91% at press time to HK$0.99, with a turnover of HK$2.95 million.
According to the news, the 2023 annual results were announced. The group achieved revenue of 46.26 billion yuan (RMB, same below), a year-on-year decrease of 4.86%; shareholders' losses of 160 million yuan; profit attributable to shareholders of 808 million yuan in the same period of the previous year, year-on-year profit and loss; basic loss of 0.04 yuan per share; and proposed to pay a special dividend of HK$0.05 per share. According to the announcement, the decline in revenue from self-produced steel products is mainly due to a 10.5% decrease in the average sales unit price of the Group's steel products from 3,974 yuan per ton in 2022 to 3,557 yuan per ton in 2023. The sharp drop in the average sales unit price of the Group's steel products is due to the continued slump in demand for downstream products in the steel industry for the year ended December 31, 2023.
Earlier, the subsidiary Qingdao Huijintong Electric Power Equipment Co., Ltd. (Huijintong) announced the results for the year ended December 31, 2023, with total operating income of 4,094 billion yuan (RMB, same below), an increase of 13.42% over the previous year; net profit to mother of 26.1728 million yuan, a year-on-year decrease of 33.49%; and basic income per share of 0.0772 yuan.