On January 15, Glonghui reported that Maiquer Group (002719.SZ) announced its annual performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of 0.15 billion yuan to 0.22 billion yuan, compared to a loss of 97.0985 million yuan in the same period last year; a net loss after deducting non-recurring gains and losses is expected to be between 0.145 billion yuan and 0.21 billion yuan, compared to a loss of 98.5932 million yuan in the same period last year; basic EPS is expected to be a loss of 0.8614 yuan/share to 1.2634 yuan/share.
During the reporting period, competition in the Dairy Product Industry intensified, leading to a decline in the company's Dairy Product revenue. To cope with the fierce market competition, the company continuously increased product promotion efforts in its Dairy Product Business, which further reduced operating profit and ultimately resulted in a year-on-year decline in sales and gross margin. The reporting period saw a reduction in supply and demand for domestic raw milk, leading to a market downturn, and prices gradually decreasing, which prompted the company to recognize impairment provisions for biological assets according to accounting standards. The company optimized its cattle structure, increasing the proportion of culling of biological assets, which resulted in increased losses in its subsidiary's Farming business.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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