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Xinyu Iron & Steel Co., Ltd (SHSE:600782) Stock Catapults 26% Though Its Price And Business Still Lag The Industry
CITIC: Production regulation improves the industry landscape, reiterating a bullish outlook on the Steel Sector market.
The official public account of the National Development and Reform Commission has PUSHed the "Task List for Economic and Social Development in China for 2025," in which "continuously implement crude Steel production control, promote the reduction and restructuring of the Steel industry" is listed as one of the tasks for promoting the transformation and upgrading of traditional industries.
Xinyu Iron & Steel (600782.SH): Xinyu Iron & Steel Eco-friendly Concept acquired 51% of the equity of Xinyu Eco-friendly Concept for 0.151 billion yuan.
On February 26, Gelonghui reported that Xinyu Iron & Steel (600782.SH) announced that on December 31, 2024, the company will hold the fourth meeting of the tenth Board of Directors and the fourth meeting of the tenth Board of Supervisors, during which the proposal regarding the acquisition of equity projects by a subsidiary will be reviewed and approved. It was agreed that Xinyu Iron & Steel's wholly-owned subsidiary, Xinyu Environmental Technology, will participate in the acquisition of 51% equity of Xinyu Eco-friendly Concept through public bidding. Xinyu Environmental Technology has been confirmed as the buyer of the targeted property, with a purchase price of 151 million RMB. The parties involved in the trade recently signed the Property Transaction Contract and completed the transfer.
Private Companies Among Xinyu Iron & Steel Co., Ltd's (SHSE:600782) Largest Shareholders, Saw Gain in Holdings Value After Stock Jumped 3.8% Last Week
Forecast of the 2024 annual results of New Steel Co., Ltd.
Xinyu Iron & Steel (600782.SH): Net profit for 2024 is expected to decrease by 93.26% to 95.37%.
On January 17, Gelonghui reported that Xinyu Iron & Steel (600782.SH) announced its annual performance forecast for 2024, expecting a net income attributable to shareholders of the parent company to be between 23 million yuan and 33.5 million yuan, a year-on-year decrease of 93.26% to 95.37%. The company anticipates a net income attributable to shareholders of the parent company, excluding non-recurring gains and losses, to be between -818 million yuan and -807.5 million yuan, representing a decrease of 511.2 million yuan to 521.7 million yuan.
Many Still Looking Away From Xinyu Iron & Steel Co., Ltd (SHSE:600782)
