A lot of people were shocked today!
When the Hong Kong stock market was close to closing, China Tianrui Cement suddenly crashed by 1 word, plummeting 99% on the same day, with a total market value of only 141 million Hong Kong dollars and a share price of 0.048 Hong Kong dollars per share.
On the previous trading day, the total market value of China Tianrui Cement exceeded 14 billion Hong Kong dollars.
What happened behind the sudden flash crash of Tianrui Cement? It may be related to the results released at the beginning of the month!
At the beginning of April, Tianrui Cement released its 2023 results, achieving a net profit of 634 million yuan, a year-on-year increase from profit to loss, with a loss of 22 cents per share and no dividends.
And this reflects the recession of real estate, which has led to a decline in demand for materials and a decline in material prices!
According to the financial report, Tianrui Cement's cement sales in 2023 will decline by 9.0% compared with the same period last year, and the average price will decrease by 21.8% compared with the same period last year, and the sales volume of limestone aggregates will increase by 4.1% year-on-year, but the average price will decline by 12.6% year-on-year.
1) The recent news of the real estate recession continues. First of all, a number of banks said that in the past two years, the number of people who have taken out loans to buy houses has decreased, and then there are 30 cities to support the promotion of commercial housing trade-in!
2) Someone maliciously shorted. It should be noted that Tianrui Cement is not the only one whose performance has declined. In the past two years, the total demand of the entire cement industry has shown a downward trend, and the life of cement companies is not easy. Therefore, even if it is a recession, it will not be a flash crash of 99%! And it is a flash crash at the closing, and there is no chance to rebound, is there really no external capital manipulation behind this?
It is said that there are many ways to short the Hong Kong stock market, and it is very easy, and international investment banks have established a large number of short positions first. Then, the major foreign rating agencies took the opportunity to begin to downgrade the ratings of domestic real estate stocks, and the credit rating was lowered again and again, resulting in the interruption of foreign financing at the same time, and forced debts, resulting in the capital of domestic real estate stocks to make matters worse, and the capital chain was broken.
These seem far away, but in fact they are very close! This has happened from time to time in the past two years.
Of course, this is just speculation!
No matter what the reason is, what Tianrui Cement will face next will definitely not be simple. On the afternoon of the 9th, the reporter learned through people close to Tianrui Group: "China Tianrui Cement Company is actively contacting colleagues in the company's Hong Kong office to ask the reason, and the current production and operation of the enterprise are normal."