Jiangsu Guoxin Corp. Hits Day Low of CNY 8.23 Amid Price Pressure

Jiangsu Guoxin Corp. has experienced a notable decline today, with the stock dropping by 4.57% as it reached an intraday low of CNY 8.23. This performance stands in contrast to the China Shanghai Composite, which has only decreased by 0.43% on the same day. Over the past week, Jiangsu Guoxin has seen a decline of 4.46%, while the broader market has gained 2.6%. In terms of longer-term performance, Jiangsu Guoxin's one-month decline is 1.07%, compared to a slight decrease of 0.99% for the Shanghai Composite. However, the company has shown resilience over the past year, with a return of 12.84%, although this is below the Shanghai Composite's 20.71% gain. Year-to-date, Jiangsu Guoxin has performed well with a 12.99% increase, outpacing the composite index's 3.06% rise. Despite being net-debt free, the company faces challenges with a low return on equity of 6.96% and a significant drop in pre-tax profit, which fell by 43.67% to CNY 455.57 million. Additionally, raw material costs have surged by 23.51% year-over-year, impacting profitability.