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Xinxing Foundry: Report for the third quarter of 2024
Xinxing ductile iron pipes (000778): The industry is under pressure with profits decreasing compared to the previous period.
The company announced its Q3 24 performance: revenue of 8.349 billion yuan (yoy -29.25%, qoq -13.10%); net income attributable to the parent company of 0.056 billion yuan (yoy -77.77%, qoq -78.30%).
Express News | Xinxing ductile iron pipes: The first domestic fully vanadium flow battery automated production line product is offline, and the integrated wind, light, and storage zero-carbon workshop is officially launched.
Everbright: The long-term value of sector allocation may gradually become prominent, focusing on undervalued steel and state-owned enterprise investment opportunities.
Currently, the steel industry has weak demand, and industry profits are at a low level. However, as the medium to long-term ultra-low emission transformation of the industry is completed and further integrated into the carbon trading market, the long-term value of the sector may gradually become more prominent.
Xinxing Ductile Iron Pipes (000778.SZ): The canal is a channel that is artificially excavated, and it does not have a direct impact on the sales of ductile iron pipes.
Xinxing Ductile Iron Pipes (000778.SZ) stated in its investor relations activity on September 12th that a canal is a channel created through artificial excavation, connecting different bodies of water to facilitate water transportation. It does not directly impact the sales of ductile iron pipes. However, subsequent agricultural irrigation, urban water supply, and other projects may indirectly generate orders.
Xinxing Ductile Iron Pipes (000778): The product structure of the leading pipe continues to be optimized, and the 0.25 million ton ductile iron pipe project in Egypt will officially start in the first half of the year.
Event: The company released its 2024 semi-annual report. In the first half of 2024, revenue was 18.731 billion yuan, a decrease of 23.61% year-on-year, while net income attributable to the parent was 0.428 billion yuan, a decrease of 48.99% year-on-year, after deducting expenses.
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