Luoyang Xinqianglian Stock Hits Day Low Amid Price Pressure at CNY 43.23

Luoyang Xinqianglian Slewing Bearing Co., Ltd. experienced a notable decline today, with its stock price dropping by 4.29%. The stock reached an intraday low of CNY 43.23, reflecting a challenging trading session. Despite this downturn, the company has shown impressive performance metrics over the past year, boasting a remarkable 143.06% increase, significantly outpacing the China Shanghai Composite's 20.88% gain during the same period. In addition to its strong annual performance, Luoyang Xinqianglian has reported a substantial net profit growth of 68.01% in its latest quarterly results. The company has also maintained positive results for the last two consecutive quarters, indicating a consistent upward trend in its financial health. Key financial indicators further highlight the company's robust position in the industrial manufacturing sector. The inventory turnover ratio stands at a high of 2.67, while the debtors turnover ratio is at 1.65, both suggesting efficient management of resources. With a market capitalization of CNY 8,921 million, Luoyang Xinqianglian continues to be a significant player in its industry.