Xinjiang Xinxin Mining eyes biggest drop in nearly 2 yrs on weak results forecast

Xinjiang Xinxin Mining Industry

26/02/2024 04:48

** Shares of Xinjiang Xinxin Mining Industry  3833.HK  fall
as much as 13.2% to HK$0.79, on track for the biggest one-day
pct drop since March 2021, if losses hold
    ** Chinese mining and refining group says it expects its
2023 net profit to drop 76.9% YoY to 171.62 mln yuan ($23.84
mln) with revenue down 28.4% YoY to 2.05 bln yuan amid decrease
in sales volume of its nickel and copper cathode 
    ** Hang Seng Composite Index tracking energy stocks  .HSCIE 
climbs 0.01% while Hang Seng Index  .HSI  slips 0.7%
    ** Stock down 1.2% YTD 


($1 = 7.1979 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))