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China Putian Food's Petition Withdrawn, Trading Still Suspended
PUTIAN FOOD (01699.HK): Petition for liquidation withdrawn, trading continues to be suspended.
Gelonghui, December 12: PUTIAN FOOD (01699.HK) announced regarding Mr. Zhu Jianhao's petition for liquidation. On December 12, 2024, the company received an order from the High Court of Hong Kong dated November 19, 2024, ordering (among other things) the cancellation of the liquidation petition and the hearing scheduled for December 18, 2024. The company's shares have been suspended from trading on the Hong Kong Stock Exchange since 9:00 AM on April 3, 2023, and will continue to be suspended until further notice, pending compliance with the resumption guidelines and any supplement or revision requirements.
Pork company sales "sprint": More than 70% of the sales target completion rate exceeds 90%. December may continue to increase volume | Industry news.
① As of the end of November, over 70% of listed pork enterprises have exceeded 90% of their target for livestock output; ② Currently, smallholders and group pig farms are accelerating their output, leading to increased market supply of Pork, with limited strength in Animal Slaughter consumption, resulting in pork prices falling below 8 yuan; ③ The output of live pigs is expected to continue increasing in December.
China Putian Food's H1 Loss Shrinks
China Putian Food Reports Increased Losses Amid Rising Costs
Putian food (01699.HK) is expected to have a mid-term revenue of about 0.205 billion yuan in 2023, a year-on-year decrease of about 14.4%.
On December 3, Gelonghui reported that Putian Food (01699.HK) announced its interim performance for the six months ended June 30, 2023, with revenue of approximately 0.205 billion yuan, a decrease of about 14.4% year-on-year. The net loss for the review period was approximately 27.107 million yuan, significantly narrowing by about 83.8% compared to the same period last year. The loss per share was 1.25 yuan. The decline in the group's revenue was mainly due to the drop in domestic pork prices and the decrease in the number of live pigs under severe industry conditions, while the significant decline in the group's gross profit was primarily due to the rise in fodder raw material prices.
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