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Renaissance Asia Silk Road Group's Attributable Loss Widens in 15 Months Ended March 31
Ra Silk Road (00274.HK) announced its performance for the fifteen months ending March 31, 2024: recording a revenue of about 0.374 billion Hong Kong dollars.
Ra Silk Road (00274.HK) announced that during the 15 months period ended on March 31, 2024, the group recorded a revenue of about HKD 0.374 billion, an increase of about 80.4% compared with approximately HKD 0.207 billion in the same period last year. The main reason for the increase is due to the increase in the income from the trade of non-ferrous metals and agricultural products. The group's gross profit was about HKD 30.9 million during the reporting period, a decrease of about 55.9% compared with approximately HKD 70.1 million in the same period last year. The group's loss during the reporting period was approximately HKD 91.4 million, an increase of about HKD 61.9 million compared with the same period last year.
RA SILKROAD-NEW: (1) ANNUAL RESULTS ANNOUNCEMENTFOR THE FIFTEEN MONTHS ENDED 31 MARCH 2024; AND(2) RESUMPTION OF TRADING ANDREVISION OF THE TIMETABLE OF SHARE CONSOLIDATION
Hong Kong stocks are volatile. Golden industrial concept ranks first in terms of decline, with chinagoldintl falling more than 8%. International gold prices continue to fall.
As of press time, the stocks of gold companies are leading the decline, with Chinagoldintl (02099) down 8.48% to HKD 42.1, Lingbao Gold (03330) down 6.61% to HKD 3.11, SD Gold (01787) down 5.46% to HKD 15.94, and Zijin Mining Group (02899) down 4.46% to HKD 15.
Goldman Sachs: For every 10% drop in gold price, physical gold demand in China rises 16%, and gold prices are expected to remain at 2700 next year.
Goldman Sachs believes that physical gold demand still dominates the Chinese market, and Chinese consumers may play a key role in pushing up gold prices. There is still more than 12% room for gold prices to rise next year, and expectations of a Fed rate cut and demand from central banks around the world will also help boost gold prices.
Does the Rally in Gold Still Have Room to Run? – TDS
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