Conch Environmental Protection (00587) fell by more than 7%, and the intraday low of HK$0.89 hit a new low since listing. As of press release, it decreased by 7.22% to HK$0.9, with a turnover of HK$1,938,200.
The Zhitong Finance App learned that Conch Environmental Protection (00587) fell by more than 7%, and the intraday low of HK$0.89 hit a new low since listing. As of press release, it decreased by 7.22% to HK$0.9, with a turnover of HK$1,938,200.
According to the news, Hailuo Environmental Protection recently announced its 2023 annual results. The group obtained revenue of RMB 1,882 million (same unit), an increase of 8.79% over the previous year; the profit attributable to the company's equity shareholders was RMB 264 million, a decrease of 19.63% over the previous year; and plans to pay a final cash dividend of HK$0.03 per share.
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 believes that considering that hazardous waste disposal production capacity is still large, the bank believes that competition in the hazardous waste disposal industry may still face fierce competition in 2024.