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The latest announcement is out from Sanergy Group Ltd. ( (HK:2459) ).
Sanergy Group Limited announced its annual results for 2024, revealing a challenging year due to macroeconomic headwinds and geopolitical uncertainties, particularly the ongoing Ukrainian/Russian conflict. The company experienced a 21.2% decrease in revenue and a significant gross loss margin, primarily due to reduced average selling prices and high energy costs in Europe. Despite these challenges, Sanergy managed to increase sales volume and reduce average unit costs, demonstrating resilience in a competitive market. The company is focusing on operational flexibility and liquidity preservation to navigate the difficult market conditions.
More about Sanergy Group Ltd.
Sanergy Group Limited operates within the steel industry, focusing on the production and sale of graphite electrode products. The company is involved in managing supply chains and maintaining market competitiveness amidst global economic uncertainties.
YTD Price Performance: 11.50%
Average Trading Volume: 10,037,498
Technical Sentiment Signal: Buy
Current Market Cap: HK$254.2M
Learn more about 2459 stock on TipRanks’ Stock Analysis page.