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Hong Kong stocks anomalies | Infrastructure stocks plummet across the board, second-quarter sector performance and cash flow significantly decline, institutions point out that infrastructure funding is under pressure.
Infrastructure stocks are plummeting across the board. As of the time of writing, China Communications Construction (01800) fell 7.03% to HKD 3.97; China Railway Signal & Communication Corporation (03969) fell 6.36% to HKD 2.65; China Railway Construction Corporation (01186) fell 4.65% to HKD 4.31; and China Railway (00390) fell 3.09% to HKD 3.14.
Why China Railway Signal & Communication's (HKG:3969) Shaky Earnings Are Just The Beginning Of Its Problems
China Railway Signal & Communication Corporation (03969.HK) received a shareholding of 2.071 million shares from Ningquan Assets.
According to the latest equity disclosure information from the Hong Kong Stock Exchange on August 26, 2024, China Railway Signal & Communication Corporation (03969.HK) obtained an increase of 2.071 million shares at an average price of 3.09 Hong Kong dollars per share by Shanghai Ningquan Asset Management Co., Ltd. in the market, involving approximately 6.3994 million Hong Kong dollars. After the increase, the latest number of shares held by Shanghai Ningquan Asset Management Co., Ltd. is 217,315,000 shares, and the shareholding ratio has increased from 10.93% to 11.04%.
China Railway Signal & Communication's H1 Profit Slips 12%, Operating Income Down 14%; Shares Fall 3%
HKEX | China Railway Signal & Communication Corporation (03969) dropped nearly 3% after its performance announcement. The company's net profit attributable to the parent in the first half of the year decreased by 12.32% year-on-year. The traditional busin
China Railway Signal & Communication Corporation (03969) fell by nearly 3% after performance results, as of the time of publication, down 2.75% to 2.83 Hong Kong dollars, with a turnover of 22.1696 million Hong Kong dollars.
Affected by the intensified competition in the rail transit market, China Railway Signal & Communication Corporation's revenue and net profit both declined in the first half of the year. It will still take time for the low-altitude business to contribute
①Regarding the decrease in revenue, China Railway Signal & Communication Corporation stated that the company is focusing on the development of its main tasks, promoting the transformation and upgrading of traditional industries, preventing operational risks, and the income from engineering projects has decreased. ②In the first half of 2024, the company's total newly signed contract amount accumulated to 21.023 billion yuan, a year-on-year decrease of 33.62%.
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