Dongyue Group (00189) is now down nearly 6%. As of press release, it is down 5.72% to HK$6.92, with a turnover of HK$107 million.
The Zhitong Finance App learned that Dongyue Group (00189) is now down nearly 6%. As of press release, it is down 5.72% to HK$6.92, with a turnover of HK$107 million.
According to the news, Dongyue Group announced annual results, with revenue of 14.493 billion yuan, down 27.6% year on year; company owners should account for 708 million yuan in profit, down 81.6% year on year. According to the announcement, the fluorosilicon chemical industry was less prosperous during the period, supply and production capacity for some products increased, while the increase in downstream demand did not meet expectations, leading to a marked decline in the prices of many major products in the industry. As a result, the performance of several major business segments of the Group declined to varying degrees.
CICC said that Dongyue Group's 2023 annual results are in line with market expectations. It plans to pay a dividend of HK$0.1 per share. Mr. Fu Jun of Xinhualian has resigned as the company's executive director, and the repurchase plan has basically been completed. The bank believes that the 2024 refrigerant price increase is expected to help the company reverse fundamentals and enter a new stage of long-term development.