Singamas Cont (00716) fell more than 7% again, hitting a low of HKD 0.74, a decrease of nearly 30% from the monthly high of HKD 1.03. As of press time, it fell 7.5% to HKD 0.74 with a turnover of HKD 8.3694 million.
According to the Zhixun Finance app, Singamas Cont (00716) fell more than 7% again, hitting a low of HKD 0.74, a decrease of nearly 30% from the monthly high of HKD 1.03. As of press time, it fell 7.5% to HKD 0.74 with a turnover of HKD 8.3694 million.
On the news side, Singamas Cont announced that it expects a half-year net profit of no less than USD 15 million as of the end of June, compared to a net profit of USD 9.776 million in the same period last year. The company said that the increase in net profit was due to an increase in global trade volume, congestion at some regional ports, and the need to increase equipment to deal with the additional time spent by some container ships passing through the Cape of Good Hope, leading to an increase in demand for dry containers. As demand increases, the utilization of production facilities increases, thereby increasing the gross margin of the group.
Earlier, Soochow Securities pointed out that the gross margin of container manufacturing is greatly affected by economies of scale and raw material prices, of which steel accounts for about 50% of the cost of container manufacturing. With steel prices maintaining a low and volatile trend, the box price is expected to rise on a month-on-month basis, and the profit end of manufacturers under economies of scale is expected to further recover.