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Da Ming Int'l (01090.HK): Public shareholding is about 21.10%, which is lower than the minimum required percentage.
On July 30, Gelunhui reported that the public shareholding of Da Ming Int'l (01090.HK) was approximately 21.10%, which is lower than the minimum percentage stipulated in Listing Rule 8.08.
Huabao Securities: Blast furnace start-up increases compared to the low demand season, steel prices downward pressure.
In July, the terminal demand for steel is still greatly affected by seasonality, and the space for supply contraction is limited. It is expected that the steel price will continue to decline in July, and the short-term profit situation of steel companies may be difficult to improve significantly.
Hong Kong stock market concept tracking: Institutions are optimistic of the steel industry's profit recovery in the second half of the year, as infrastructure projects may have concentrated efforts to complete. (Attached concept stocks)
The situation of relatively surplus raw material supply will also continue, and steel mill profits are expected to rebound due to the double bullish of demand improvement and cost reduction.
Huafu Securities: Profits hit a bottom waiting for recovery, steel prices still have support.
In 2024, there is an expected contraction in steel supply, downstream consumer demand is expected to stabilize, and the steel supply-demand relationship may be improved. Considering the positive development of steel products towards high-end and high added value direction, the industry concentration is expected to further increase, and industry profits may bottom out and recover.
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.
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