Stock Track | CONCH VENTURE Shares Plunge After Reporting 35% Drop in First-Half Profit

Stock Track08-28

Shares of China Conch Venture Holdings (HKG:0586), a leading cement and construction materials company, faced a sharp sell-off on Tuesday, plummeting by over 5% in intraday trading. This substantial decline was triggered by the company's disappointing financial results for the first half of 2024, which saw a significant drop in both profits and revenue.

According to a filing with the Hong Kong Stock Exchange, Conch Venture reported a profit attributable to equity holders of 1.18 billion yuan ($166 million) for the six months ended June 30, 2024. This figure represents a substantial 35% decrease compared to the 1.82 billion yuan ($256 million) reported in the same period last year. The company's earnings per share also fell to 0.67 yuan, down from 1.00 yuan in the previous year.

The decline in profitability was accompanied by a notable drop in revenue, which stood at 3.13 billion yuan ($440 million), a decrease of nearly 30% from the 4.44 billion yuan ($625 million) recorded in the first half of 2023. While specific reasons for the revenue decline were not provided, analysts have cited challenging market conditions and intense competition in the construction materials sector as potential factors.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1134082070?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-28 16:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1134082070","market":"hk","top_or_hot":-1,"title":"Stock Track | CONCH VENTURE Shares Plunge After Reporting 35% Drop in First-Half Profit","media":"Stock Track","content":"<p>Shares of China Conch Venture Holdings (HKG:0586), a leading cement and construction materials company, faced a sharp sell-off on Tuesday, plummeting by over 5% in intraday trading. This substantial decline was triggered by the company's disappointing financial results for the first half of 2024, which saw a significant drop in both profits and revenue.</p>\n\n<p>According to a filing with the Hong Kong Stock Exchange, Conch Venture reported a profit attributable to equity holders of 1.18 billion yuan ($166 million) for the six months ended June 30, 2024. This figure represents a substantial 35% decrease compared to the 1.82 billion yuan ($256 million) reported in the same period last year. The company's earnings per share also fell to 0.67 yuan, down from 1.00 yuan in the previous year.</p>\n\n<p>The decline in profitability was accompanied by a notable drop in revenue, which stood at 3.13 billion yuan ($440 million), a decrease of nearly 30% from the 4.44 billion yuan ($625 million) recorded in the first half of 2023. While specific reasons for the revenue decline were not provided, analysts have cited challenging market conditions and intense competition in the construction materials sector as potential factors.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | CONCH VENTURE Shares Plunge After Reporting 35% Drop in First-Half Profit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | CONCH VENTURE Shares Plunge After Reporting 35% Drop in First-Half Profit\n</h2>\n\n<h4 class=\"meta\">\n\n2024-08-28 16:16 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of China Conch Venture Holdings (HKG:0586), a leading cement and construction materials company, faced a sharp sell-off on Tuesday, plummeting by over 5% in intraday trading. This substantial ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00586","symbol_name":"海螺创业","start_time":0,"source_url":"","article_id":"1134082070","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1134082070","pubTimestamp":1724833009,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of China Conch Venture Holdings , a leading cement and construction materials company, faced a sharp sell-off on Tuesday, plummeting by over 5% in intraday trading. This substantial decline was triggered by the company's disappointing financial results for the first half of 2024, which saw a significant drop in both profits and revenue.According to a filing with the Hong Kong Stock Exchange, Conch Venture reported a profit attributable to equity holders of 1.18 billion yuan  for the six m","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00586":"海螺创业"},"translate_title":"股票赛道海螺创业上半年利润下降35%股价暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00586":1},"content_text":"Shares of China Conch Venture Holdings (HKG:0586), a leading cement and construction materials company, faced a sharp sell-off on Tuesday, plummeting by over 5% in intraday trading. This substantial decline was triggered by the company's disappointing financial results for the first half of 2024, which saw a significant drop in both profits and revenue.\nAccording to a filing with the Hong Kong Stock Exchange, Conch Venture reported a profit attributable to equity holders of 1.18 billion yuan ($166 million) for the six months ended June 30, 2024. This figure represents a substantial 35% decrease compared to the 1.82 billion yuan ($256 million) reported in the same period last year. The company's earnings per share also fell to 0.67 yuan, down from 1.00 yuan in the previous year.\nThe decline in profitability was accompanied by a notable drop in revenue, which stood at 3.13 billion yuan ($440 million), a decrease of nearly 30% from the 4.44 billion yuan ($625 million) recorded in the first half of 2023. While specific reasons for the revenue decline were not provided, analysts have cited challenging market conditions and intense competition in the construction materials sector as potential factors.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1134082070"}