Maanshan Iron & Steel Co (HK:0323) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Maanshan Iron & Steel Company Limited has announced the scrapping of 1,234 fixed assets valued at RMB2.73 billion due to equipment upgrades and outdated machinery. This move will result in an unaudited impact of RMB339 million on the company’s profit or loss for the current period. The decision was approved by the board and deemed compliant with accounting standards and company regulations.
For further insights into HK:0323 stock, check out TipRanks’ Stock Analysis page.