On June 23, Dongjiang Environmental rose 18.86% in regular trading, trading at HKD 2.74/share, with turnover of HKD 559 million. The stock surged as multiple catalysts converged, including a phosphorus chemical sector rally and strong fundamentals in its resource utilization business.
On the news front, the phosphorus chemical sector led market gains at open. The company has established phosphorus chemical resource recycling capabilities, with its R&D project for producing high-quality monoammonium phosphate from waste phosphoric acid etching liquid having completed production line construction. Additionally, the company recently announced that its subsidiary Daxiang Logistics plans to invest RMB 20 million to expand hazardous waste resource utilization supporting capacity. Operating net cash flow surged over 200% year-over-year, while resource utilization business revenue proportion increased by more than 20%.
Furthermore, the company has outlined plans to achieve strategic upgrades through M&A centered on resource recycling as its core business track. An annual shareholders meeting scheduled for June 29 has boosted market sentiment amid expectations of dividend distribution and strategic advancement. The A-share listing also hit the daily limit on June 22, with market momentum carrying over.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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