Shuangxin Materials Shareholder Count Drops 7.06% to 61,512; Stock Down 3.03%; Q1 Revenue Up 12%
Shuangxin Materials reported 61,512 shareholder accounts as of July 31, down 7.06% from the prior period, signaling increased concentration of holdings. The stock has fallen 3.03% since then, closing at RMB 12.82 on August 6. Margin financing and securities lending balance stood at RMB 130 million as of August 5. First-quarter revenue rose 12.07% year-on-year to RMB 995 million, with net profit up 2.03% to RMB 128 million.
Shuangxin Materials disclosed on August 6 that as of July 31, the company had 61,512 shareholder accounts, a decrease of 4,674 from the previous period (July 20), representing a sequential decline of 7.06%. The drop in shareholder count indicates a trend toward concentration of holdings.
As of the time of writing on August 6, Shuangxin Materials closed at RMB 12.82, down 1.76% for the day. Since the latest period of share concentration, the stock has fallen a cumulative 3.03%, with gains on 6 trading days and declines on 7 trading days.
Margin trading data show that as of August 5, the stock's margin financing and securities lending balance stood at RMB 130 million, of which the financing balance was RMB 129 million. Since the latest period of share concentration, the financing balance has decreased by a total of RMB 11.7624 million, a decline of 8.34%.
According to the company's first-quarter report, revenue in the first quarter reached RMB 995 million, up 12.07% year-on-year; net profit was RMB 128 million, up 2.03%; basic earnings per share were RMB 0.1100, and the weighted average return on equity was 1.83%.