HK stock unusual movement | Steel stocks rallied at the close, positive policy changes driving expectations for improvement. Market cap management guidelines are expected to stimulate sector recovery.
Steel stocks rallied in the final trading session. As of press time, maanshan iron (00323) rose by 10.1% to HKD 1.09; angang steel (00347) rose by 8.26% to HKD 1.31; chongqing iron (01053) rose by 6.35% to HKD 0.67; china oriental (00581) rose by 5.5% to HKD 1.15.
KANGLI INT HLDG: INTERIM REPORT 2024
Who is the main player in the csi commodity equity index in the fourth quarter? Wait patiently for the "landing" of the Fed rate cut.
Can gold continue to lead the way? Will crude oil, iron ore, and other big losers be able to turn the tide?
CITIC Securities: Steel prices fluctuate and seek the bottom, waiting for demand to recover.
Currently, as we approach the end of August, whether the demand will improve in the later period will be the key to whether steel prices will stop falling and rebound, given the significant reduction in production in steel mills.
Kangli International Holdings (06890.HK): The net profit for the first half of the year was 62.228 million yuan, an increase of 513.5% year-on-year.
Gelonghui, August 26th | Kangli International Holdings (06890.HK) announced that for the six months ended June 30, 2024, the group's total income was approximately 1.005 billion yuan, an increase of about 20.3% year-on-year. The increase in the group's income is mainly due to the impact of the group's product sales volume and overall average selling price. The total sales volume for the six months ended June 30, 2024 was 0.168 million tons, up 16.5% from the same period last year. The overall average selling price of the products during this period increased by 3.1% compared to the same period last year. The profit attributable to equity shareholders of the company was RMB 62.228 million, an increase of 5% year-on-year.
KANGLI INT HLDG: ANNOUNCEMENT OF INTERIM RESULTSFOR THE SIX MONTHS ENDED 30 JUNE 2024
Steel companies are issuing warnings about a "severe winter"! The market cap of the world's four largest iron ore miners has evaporated by over 100 billion US dollars.
Many steel companies' predictions about the severe industry outlook have made several major international iron ore suppliers, who are upstream industries, begin to have a difficult time in recent days. Since the beginning of this year, the price of this key steelmaking raw material has fallen by more than one-third. The market capitalization of the "four major" global iron ore miners has evaporated by about 100 billion US dollars in total.
kangli int hldg (06890.HK) held a board of directors meeting on August 26 to consider and approve the interim performance.
Kangli International Holdings (06890.HK) announced that the board of directors meeting will be held on Monday, August 26, 2024, to consider and approve the mid-term performance of the company and its subsidiaries for the six months ended June 30, 2024, and to consider the distribution of interim dividends (if any).
Kangli Int Hldg (06890) announces profit, expecting a net profit of no less than 50 million yuan in the first half of this year.
Kangli Int Hldg (06890) announced that the group is expected to achieve a net profit of not less than RMB...in the first half of 2024.
Express News | Kangli International Sees Rise in Gross Profit for Hy
Express News | Kangli International Sees Hy Net Profit of Not Less Than RMB50 Mln
KANGLI INT HLDG: POSITIVE PROFIT ALERT
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.
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.
China Steel Association: In April, China's crude steel production of 85.94 million tons fell 7.2% year on year
According to the China Iron and Steel Association, data released by the National Bureau of Statistics shows that in April, crude steel production was 85.94 million tons, a year-on-year decrease of 7.2%.
China Mining Association: The cumulative production of 336.026 million tons of steel in the first quarter increased 4.4% year-on-year
On April 30, the China Mining Association announced the economic performance of the metallurgical mining industry for March 2024.
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