Global New Materials International (06616) plummeted in early trading, falling more than 11% at one point. As of the time of publication, it fell 9.7% to HKD 4.19 with a turnover of HKD 26.9978 million.
According to the Wisdom Financial app, Global New Materials International (06616) plummeted in early trading, falling more than 11% at one point. As of the time of publication, it fell 9.7% to HKD 4.19 with a turnover of HKD 26.9978 million.
On the news front, Global New Materials International announced on July 25th that the company and the stock buyer agreed to acquire the global surface solution business of the seller group from Merck KGaA, at a total cost of 0.665 billion euros. It is reported that the target company is mainly engaged in the supply of pearl pigment business, and the product portfolio also includes cosmetic active ingredients and other industrial functional products and raw materials. The target company purchases raw materials for pearl pigment products, processes them at the target company's production base, and then distributes them to the established international customer base.
Global New Materials International's performance in 2023 showed that the company's revenue was approximately RMB 1.064 billion, an increase of approximately 16.1% year-on-year; the net profit attributable to shareholders was approximately RMB 0.182 billion, a decrease of approximately 18.9% year-on-year. Anxin International previously pointed out that considering the increase in management and financial expenses brought about by external development, it lowered its net profit forecasts for 2024/2025/2026 to RMB 0.31/0.4/0.51 billion, corresponding to EPS of HKD 0.25/0.32/0.40. The target price was lowered to HKD 4.9, and the "buy" rating was maintained.