Changes in Hong Kong stocks | Binhua shares (06745) fell by more than 10% in early trading, and rising raw material prices put pressure on gross profit. Net profit fell by more than 80% year-on-year in the third quarter

The Zhitong Finance App learned that Binhua shares (06745) fell more than 10% in early trading. As of press release, it decreased by 6.23% to HK$2.485, with a turnover of HK$13.9988 million.

According to the news, Binhua Co., Ltd. announced that third-quarter revenue was 4.423 billion yuan, up 16.59% year on year; net profit to mother was 14.82 million yuan, down 81.67% year on year, after deducting net profit loss of 29.08 million yuan from non-return to mother, down 126.66% year on year, from profit to loss. The company said that the price increase of some raw materials in the third quarter was higher than the increase in products, and gross profit was under pressure.

Zhuochuang News predicts that in the fourth quarter, the domestic propane oxide market showed a trend of rising and then falling slightly month-on-month. It is estimated that in October-December, the market price of propylene oxide in Shandong will be around 11,450 yuan/ton, 11,200 yuan/ton, and 11,000 yuan/ton, which is still a significant month-on-month improvement from the third quarter. As the largest supplier of propylene oxide in the country, Binhua Co., Ltd. is expected to still have a lot of room for profit improvement in the fourth quarter.