Beijing Beimo Stock Hits Day Low Amid Price Pressure, Drops to CNY 42.48

Beijing Beimo High-Tech Frictional Material Co., Ltd. experienced a notable decline today, with its stock price dropping by 3.61% to reach an intraday low of CNY 42.48. This performance contrasts with the broader market, as the China Shanghai Composite index fell by only 1.26% during the same period. Over the past week, Beijing Beimo's stock has decreased by 3.35%, while it has shown a more positive trend over the past month, gaining 5.53%. However, the company's longer-term performance reveals mixed results, with a year-to-date increase of 34.7% and a significant annual growth of 76.1%. In stark contrast, the stock has faced challenges over the past three and five years, with declines of 13.57% and 40.28%, respectively. Despite the recent downturn, the company reported a remarkable growth in net sales of 40.72% in its latest quarterly results, alongside substantial increases in pre-tax and net profits. With a market capitalization of CNY 9,269 million, Beijing Beimo operates within the Aerospace & Defense sector, maintaining a high dividend yield of 1.6%.