Zhejiang Jiemei Stock Hits Day Low Amid Price Pressure, Closes at CNY 30.99
Zhejiang Jiemei Electronic & Technology Co., Ltd. saw a significant stock decline today, contrasting with the broader market. Despite a positive monthly performance, the company has faced challenges with consecutive negative quarterly results and a notable drop in earnings per share, while maintaining a high price-to-earnings ratio.
Zhejiang Jiemei Electronic & Technology Co., Ltd. experienced a notable decline today, with the stock dropping by 3.56% as it reached an intraday low of CNY 30.99. This performance contrasts with the China Shanghai Composite, which fell by only 0.65% on the same day. Over the past week, Zhejiang Jiemei has seen a decrease of 2.56%, while its performance over the last month remains positive at 4.77%. However, the company has faced challenges in recent quarters, reporting negative results for the last two consecutive periods. The annual growth rate of net sales stands at 12.44%, with operating profit growing at 9.21% over the past five years.
Despite a strong one-year performance of 74.19%, the company has experienced a significant drop in earnings per share, falling by 32.94%. Financial metrics indicate a high price-to-earnings ratio of 71.00 and a return on equity of 5.83%. The current market capitalization is CNY 12,449 million, positioning Zhejiang Jiemei as a large-cap player in the electronics and appliances industry.
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