Hong Kong Stock Movement | DONGYUE GROUP (00189) Dropped Over 7% Again This Week, Cumulative Decline Exceeds 16%; Shandong Dongyue Silicone Material Co., Ltd. Forecasts Up to 97.4% Drop in Net Profit for Q1-Q3

Stock News
Oct 16

DONGYUE GROUP (00189) has seen another decline of over 7%, bringing its cumulative drop in the week to more than 16%. As of the time of reporting, the stock is down 5.89% at HKD 10.54, with a trading volume of HKD 401 million. According to prior announcements, the company's non-wholly-owned subsidiary, Shandong Dongyue Silicone Material Co., Ltd. (300821.SZ), is expected to see a net profit drop of approximately 96.27% to 97.40% in the first three quarters year-on-year; while the net profit after excluding non-recurring items is expected to decline by about 87.10% to 88.14%. This period's performance was impacted by the volatile prices of silicone products, leading to a decrease in sales revenue and gross margin for the company's main products, along with operational losses caused by a fire accident in the third-phase B bed of the synthesis process.

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