Gaozheng Minbao Shares Hit Record High at RMB61.51, H1 Net Profit to Fall 45%-58%
Gaozheng Minbao shares hit a record high of RMB61.51, up 4.95%, giving a total market value of RMB17.041 billion. The company expects first-half net profit to fall 45% to 58% year on year. In the first quarter, revenue rose 0.24% to RMB305 million, while net profit dropped 46.27% to RMB9.47 million; basic EPS was RMB0.0343 and weighted average ROE was 0.88%. The basic chemicals sector advanced 0.5% on the day.
As of 10:37 a. m. on August 12, Gaozheng Minbao's shares traded at RMB61.51, up 4.95%, with volume of 11.046 million shares and turnover of RMB661 million, a turnover rate of 4.00%. Total market value stood at RMB17.041 billion, and free-float market value at RMB16.977 billion. The basic chemicals sector rose 0.50% overall, with 298 stocks advancing, led by Annoqi, Brother Technology, and Tianyang New Materials, while 126 stocks fell, with Shanghai Weixin, Yuelong Technology, and Guofeng New Materials among the decliners. The company's first-quarter report showed revenue of RMB305 million, up 0.24% year on year; net profit of RMB9.4701 million, down 46.27%; basic earnings per share of RMB0.0343; and weighted average return on equity of 0.88%.