Tianneng Power (00819) plummeted by 12%, as of the time of drafting, it dropped by 10.66%, closing at HKD 6.45, with a turnover of 38.0972 million Hong Kong dollars.
According to the Zhongtong Financial APP, Tianneng Power (00819) plummeted by 12%, as of the time of drafting, it dropped by 10.66%, closing at HKD 6.45, with a turnover of 38.0972 million Hong Kong dollars.
On the news front, Tianneng Power released the performance of its subsidiary Tianneng Holdings in the first three quarters, with an income of 32.888 billion yuan, a decrease of 6.21% year-on-year; net income attributable to the equity holders of Tianneng Holdings was 1.464 billion yuan, a decrease of 14.45% year-on-year. In the third quarter, the company's revenue was 11.265 billion yuan, a year-on-year decrease of 16.6%; net profit attributable to equity holders was 0.27 billion yuan, a year-on-year decrease of 56.4%.
Tianneng Holdings stated that the decline in performance was mainly attributed to the significant increase in raw material prices in the first half of the year, combined with a decrease in sales volume in the third quarter. It is reported that since the beginning of this year, lead prices have experienced a rollercoaster trend. Since late February, lead futures prices have been fluctuating upwards. From less than 0.0158 million yuan per ton at the lowest, it rose to nearly 0.02 million yuan per ton at the highest. Lead prices reversed their upward trend in August.