Hong Kong Stock Movers: DAJIN Falls Over 6% Again to Record Low, Down More Than 30% in Past Five Sessions

Stock News10-15

According to Zhitong Finance APP, DAJIN (01081) fell more than 6% again, touching HK$22.5 to set a new record low since listing.

As of press time, the stock was down 6.56% at HK$22.5, with turnover of HK$105 million.

On the news front, a false anti-dumping and anti-subsidy rumor last Friday dealt a heavy blow to DAJIN, sending its shares down nearly 16% in a single day, after which the stock continued to decline, retreating more than 30% over the past five trading sessions.

It is understood that this rumor was actually an old 2020 EU anti-dumping investigation story republished as fresh news.

Citi said the European market is critically important to DAJIN, and it expects 68.8% of the company's 2025 revenue to come from the European market.

However, the bank noted that according to the wind power association, given the current supply shortage in Europe, the likelihood of Europe imposing a ban on Chinese wind power equipment imports is not high.

On the financial side, in the second quarter of this year, DAJIN's results declined both year-on-year and quarter-on-quarter, with revenue of RMB1.346 billion, down 20.87% year-on-year and down 29.44% quarter-on-quarter; net profit attributable to shareholders was RMB166 million, down 47.42% year-on-year and down 61.82% quarter-on-quarter; this was mainly attributed to the shipping schedule causing some delivered offshore engineering products to fail to be recognized as revenue in time, as well as the impact of exchange losses.

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