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Hong Kong stocks | texhong intl gp (02678) fell more than 5% in the morning, domestic new cotton prices stabilizing, China Cotton Reserve expects cotton prices to remain in a volatile trading range.
Texhong Intl GP (02678) fell more than 5% in the morning session, as of the press time, down 5.31% to HKD 4.1, with a turnover of 12.5527 million Hong Kong dollars.
China Cotton: It is expected that cotton prices will remain in a volatile consolidation.
The China Cotton Information Center released last week's China cotton market weekly report, indicating that international cotton prices have risen in the past week, while domestic cotton prices have been volatile. The new cotton harvest and delivery in the country is faster than the same period last year, with cotton farmers actively selling and processing enterprises maintaining a stable and robust overall operation style. Under the dual influence of cost and supply, the domestic new cotton prices have stabilized recently. With the off-season approaching, most textile enterprises continue to adopt a strategy of procurement as needed, reducing the operating rate slightly, and the abundant upstream supply and continued weak downstream demand situation has not changed temporarily. As the US election enters a crucial stage, the possibility of turbulence in the international financial markets may increase, but the decline in cotton prices since October has been largely.
HK Stock News: Texhong International Group (02678) is currently up nearly 7%. It is expected that the order volume and price in the second half of the year will continue to recover and the company's early global layout.
Texhong intl gp (02678) is now up nearly 7%, as of press time, up 6.8% to HK$3.77, with a turnover of 4.7485 million Hong Kong dollars.
TEXHONG INTL GP: INTERIM REPORT 2024
Texhong International Group (2678.HK): Improved performance driven by demand recovery in the first half of the year. Looking forward to continued recovery in the second half of the year.
Event: Texhong Intl Gp released its 2024 midterm performance, with revenue and net income attributable to shareholders in the first half of 2024 up 4.2% year-on-year, turning losses into profits. The company achieved a revenue of 11.24 billion yuan in the first half of 2024, a year-on-year growth of 4.
Haitong Sec: The inventory of polyester filament factories continues to deplete, hoping for improved end demand.
Continuous destocking of filament inventory, haitong sec expects downstream demand to further improve with the approaching of the traditional peak season in september-october.
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