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Oil Watcher Expects Crude Prices to Stay Rangebound for Next 6 Months at Least
YANCHANG PETRO (00346.HK) plans to hold a Board of Directors meeting on March 27 to approve the annual performance.
On March 17, Gelonghui reported that YANCHANG PETRO (00346.HK) announced that the Board of Directors meeting will be held on March 27, 2025 (Thursday) to consider and approve (including) the audited annual performance of the company and its subsidiaries for the year ending December 31, 2024, and the proposed distribution of the final dividend (if any).
YANCHANG PETRO: DATE OF BOARD MEETING
Dividend Assets have become attractive again! The Hang Seng Index has dropped over 1400 points in the last five days, while high-yield stocks such as Coal Banks "refuse to correct."
① The Hang Seng Index has fallen more than 1,400 points in the past five days. Why do dividend-paying Assets remain resilient? ② High-yield stocks such as Coal and Banks "refuse to retreat". What bullish factors may continue to drive the market?
YANCHANG PETRO (00346.HK) expects a profit of approximately 55 million Hong Kong dollars for the fiscal year 2024.
On March 11, 2023, YANCHANG PETRO (00346.HK) announced that the group expects to record a profit of approximately 55 million Hong Kong dollars for the year ending December 31, 2024, compared to a profit of approximately 0.58 billion Hong Kong dollars last year. The group's profit in 2024 is mainly derived from the profit contribution of the Oil & Gas business in Canada. Benefiting from an impairment reversal of Oil & Gas Assets of approximately 0.137 billion Hong Kong dollars, the Oil & Gas business in Canada recorded a net profit of approximately 63 million Hong Kong dollars. The significant decrease in profit for 2024 is mainly due to the absence of the comprehensive accounting impact that occurred in 2023 when a non-wholly owned subsidiary in China was terminated.
Express News | Yanchang Petroleum International - Decrease in Profit Due to Absence of One-off Gain in 2023
