After the performance of Conch Environmental Protection (00587), it fell by nearly 5% to a low of HK$0.97, setting a new low on the market. As of press release, it decreased by 4.85% to HK$0.98, with a turnover of HK$4.6583 million.
The Zhitong Finance App learned that after the Conch Environmental Protection (00587) performance, it fell by nearly 5%, to a low of HK$0.97, setting a new low in the market. As of press release, it decreased by 4.85% to HK$0.98, with a turnover of HK$4.6583 million.
According to the news, Hailuo Environmental announced its 2023 annual results. The group obtained revenue of RMB 1,882 million, an increase of 8.79% over the previous year; profit attributable to the company's equity shareholders was RMB 264 million, a year-on-year decrease of 19.63%; profit per share was $0.14, and a final cash dividend of HK$0.03 per share was planned.
Huatai Securities pointed out that the company's 2H23 performance was weaker than expected. Mainly because hazardous waste disposal volumes and prices were weaker than expected; provision for accounts receivable was higher than anticipated. The bank pointed out that although competition in the hazardous waste market is still fierce, the company's competitive advantage is still stable with abundant disposal resources, excellent process management levels, and further deepening collaboration in cement production.