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NONGFU SPRING Plummets 10% Post-Earnings; Zhong Shanshan: Brand Image Faces Historic Test
Recommend 3 Positive 13 Negative 13 |
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NONGFU SPRING (09633.HK) reported a slight YoY profit increase of 0.4% to RMB12.123 billion last year, with a final DPS of RMB76 cents, vs RMB75 cents in the same period of last year. Following the earnings announcement, the stock price opened 5% lower this morning (26th) and saw an initial sharp decline, hitting a low of HKD32.85, the lowest in over two months. It last traded at HKD33.1, down 9.93%, with a trading volume of 5.8582 million shares and a turnover of HKD196 million. Commenting on Nongfu Spring’s weak results performance, founder Zhong Shanshan stated that the company faced organized and prolonged online smear campaigns and attacks last year, subjecting its brand image to an unprecedented challenge. This led to a three-month consecutive slide in market share for its packaged drinking water products, with full-year revenue from the segment slashing by 21.3%. AAStocks Financial News |
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