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China Oriental Group Co ( (HK:0581) ) has provided an update.
China Oriental Group Company Limited has announced a positive profit alert, expecting to report a net profit of not less than RMB200 million for the year ended 31 December 2024. This marks a significant turnaround from the previous year’s net loss of approximately RMB196 million. The improvement is attributed to a substantial increase in gross profit by over 120%, despite a decline in the average selling price of steel products due to sluggish demand. The company’s success is largely due to its effective lean management strategy, focusing on cost reduction, efficiency enhancement, and procurement management optimization.
More about China Oriental Group Co
China Oriental Group Company Limited is a company incorporated in Bermuda with limited liability, primarily operating in the iron and steel industry. The company focuses on the production and sale of steel products, and it is listed on The Stock Exchange of Hong Kong Limited.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $661.1M
For a thorough assessment of 0581 stock, go to TipRanks’ Stock Analysis page.