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Huabao Securities: With the upstream supply and demand easing and the downstream vanadium pentoxide prices rebounding, the gross margin of vanadium products is expected to improve.
Overall, the upstream supply and demand is loose, and the downstream vanadium pentoxide prices have rebounded, resulting in a widening of the price spread, which is beneficial for improving the gross margin of vanadium products. Continue to pay attention to the investment opportunities brought about by the restructuring of the supply and demand structure.
Da Ming Int'l (01090.HK): Liang Zongren and Chen Ning will be appointed as executive directors.
On June 11th, GeLongHui reported that Da Ming Int'l (01090.HK) announced that starting from June 12th, 2024: Zongren Liang and Ning Chen will be appointed as executive directors of the company; and Sixqi Wang will be appointed as an independent non-executive director and a member of the board's review, nomination, and remuneration committees.
Express News | Da Ming International - Liang Zongren and Chen Ning Will Be Appointed as Executive Directors
The public shareholding volume of Daming International (01090.HK) is about 21.10%
Glonghui, May 31 | Daming International (01090.HK) announced that on the date of this announcement, the company's public shareholding volume was approximately 21.10%, which is lower than the minimum required percentage (“minimum required percentage”) as stipulated in section 8.08 of the Listing Rules. According to Lianhao's notice, it will continue to sell some of its existing shares to other interested independent third parties to restore the company's public shareholding.
Huabao Securities: The overall steel inventory removal process in April accelerated downstream demand or was supported by policies
As the release of steel mill supply gradually progressed in April, compounded by national policies to stimulate downstream demand, the overall rate of steel de-stocking accelerated in April. The improvement in profits of steel companies stimulates the enthusiasm of steel mills to produce, and it is expected that the capacity utilization rate of steel mills will continue to grow in May.
Haitong International: The PB valuation is already at the bottom of the 24Q1 domestic crude steel consumption decline sector
Judging from the PB trend in the steel sector (Shenwan) over the past 24 years, the PB valuation of the steel sector is currently in the bottom region; in global comparison, the PB valuation of A-share steel companies is in the middle. The more expensive ones are the US and Taiwan, and the valuations of European and Russian steel companies are significantly lower.
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