Hangjin Technology Hits Day Low of CNY 22.50 Amid Price Pressure

Hangjin Technology Co., Ltd., a large-cap player in the specialty chemicals sector, experienced a significant decline in its stock price today, dropping by 5.27% to touch an intraday low of CNY 22.50. This performance stands in contrast to the China Shanghai Composite, which fell by only 1.26% on the same day. Over the past week, Hangjin Technology has shown a positive trend with an 8.68% increase, and its one-month performance remains strong at 9.51%. However, the company has faced challenges over the longer term, with a notable 23.87% decline in its stock price over the past year. In comparison, the China Shanghai Composite index has gained 22.49% during the same period. Financial metrics indicate that Hangjin Technology's net sales for the latest quarter fell by 34.47%, while net profit saw a dramatic decrease of 89.82%. The company has reported negative results for four consecutive quarters, raising concerns about its long-term growth prospects. Despite a high dividend yield of 0%, the stock is trading at elevated valuations compared to its historical averages, reflecting a complex financial landscape for investors.