According to the financial news app Intelligence Finance, Fufeng Group (00546) fell more than 5% again, as of press time, the drop was 5.18%, and the price was HKD 4.39, with a turnover of 53.0341 million HKD.

On the news front, Fufeng Group recently issued a profit warning, expecting the group's net profit for the six months ending June 30, 2024 to be between RMB 1.05 billion and RMB 1.2 billion, a decrease of RMB 0.45 billion to RMB 0.6 billion compared to the same period last year. The expected decline is due to the fall in the selling price of main products, resulting in a decrease in gross profit and net profit.

It is reported that Fufeng Group is the world's largest MSG manufacturer. According to the financial report, MSG's revenue in 2023 is about RMB 10.338 billion, accounting for 36.9% of the company's total revenue. According to Zhuochuang Information, from April to May, the supply of some MSG markets exceeded demand, and companies actively shipped their products, which gradually led to a decline in actual order prices, and the downward trend continued until early June. As of June 7th, the average monthly price of large packaging MSG in the main production companies was 7,600 yuan/ton, a month-on-month decrease of 3.2%.