The Zhitong Finance App learned that Shanghai Electric (02727) fell by more than 7%. As of press release, it was down 7.51% to HK$1.6, with a turnover of HK$20.441,800.
According to the news, Shanghai Electric announced its results for the first quarter of 2024. The group achieved total operating revenue of 20.587 billion yuan (RMB, same below) during the period, a year-on-year decrease of 3.3%; net profit to mother was 32.09 million yuan, a year-on-year decrease of 91.27%, mainly due to increased losses due to fluctuations in the fair value of its financial assets. The report shows that the company's fair value change revenue for the first quarter was $249 million, compared to $315 million in the same period last year, a decrease of 179% over the previous year.