On January 22, Gelonghui reported that Dongjiang Environmental (00895.HK) announced that the company expects a net loss attributable to shareholders of the listed company of RMB 785 million to RMB 705 million from January 1, 2024, to December 31, 2024, compared to a loss of RMB 750.4706 million in the same period last year.
In 2024, the hazardous waste Industry will still face intense competition, with the prices for harmless waste collection and transportation continuing to decline, while the resource recycling waste collection and transportation rate continues to rise. Coupled with the large depreciation and amortization from newly commissioned projects and the impact of asset impairment, the company's Operation is under extreme pressure. To reverse the current adverse situation, the new team, after taking office, adheres to the "Three Extremes and Four Strengths" as guidance, implements deep reforms in multiple fields, continues to explore and promote transformation and upgrading, Technology innovation, and cost reduction efforts, while resolutely maintaining the basic Operation.
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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