Hengli Petrochemical's H1 Profit Expected to Soar 136%; Shares Drop 9%
Hengli Petrochemical (SHA:600346) expects its net profit attributable to shareholders for the first quarter to soar 136% year on year to 7.20 billion yuan from 3.05 billion yuan, according to a Tuesday disclosure with the Shanghai bourse. The upbeat forecast is attributed to improvement in the industry's supply and demand, smooth production and sales, and other factors. Earnings per share a year earlier were 0.43 yuan. The company's shares slumped nearly 9% during the late-morning trade Tuesday.
05 billion yuan, according to a Tuesday disclosure with the Shanghai bourse. The upbeat forecast is attributed to improvement in the industry's supply and demand, smooth production and sales, and other factors. 43 yuan. The company's shares slumped nearly 9% during the late-morning trade Tuesday.