On April 9, China Tianrui Cement (01252) collapsed in late trading volume, reaching a record low of HK $0.035. At the close, it fell 99.04% to HK $0.048, with a turnover of HK $24.3816 million and a total market value of only HK $140 million.
China Tianrui Cement Daily K-line Wind screenshot
news, China Tianrui Cement previously announced its annual performance as of the end of December last year, turnover of 7.889 billion yuan, down 28.6% year-on-year. The annual loss was 634 million yuan, compared with 449 million yuan in the same period last year, turning from profit to loss; the loss per share was 22 cents. No dividend.
Huatai Securities has previously pointed out that it is expected that the overall supply-demand relationship of the cement industry will remain under pressure in 2024, the profitability of the domestic market may still be in the process of bottoming out, and it may still be a priority to enhance the competitiveness of the main industry and accelerate the cultivation of new growth poles. Due to the lower price starting point before the Spring Festival and the slower price repair after the festival than in previous years, the bank expects that the profits of most cement enterprises in 1Q24 will decline in the same/ring ratio or both, and the loss of the industry may expand.
