Zhejiang Jiemei Stock Hits Day Low of CNY 29.36 Amid Price Pressure
Zhejiang Jiemei Electronic & Technology Co., Ltd. saw a notable stock decline today, contrasting with the minor decrease in the China Shanghai Composite. Despite recent challenges, including a significant drop in earnings per share and low operating cash flow, the company has achieved substantial annual growth.
Zhejiang Jiemei Electronic & Technology Co., Ltd. experienced a significant decline today, with the stock dropping by 6.85% as it reached an intraday low of CNY 29.36. This performance stands in contrast to the China Shanghai Composite, which saw a minor decrease of 0.19% on the same day.Over the past week, Zhejiang Jiemei's stock has fallen by 11.13%, and its one-month performance reflects an 8.82% decline. Despite these short-term challenges, the company has shown a notable annual performance increase of 58.83%, outpacing the China Shanghai Composite's 20.88% growth.
Financial metrics indicate that the company has faced difficulties, with a reported decline in earnings per share (EPS) of 32.94% and negative results for the last two consecutive quarters. The operating cash flow is at its lowest, recorded at CNY 219.89 million, and the return on equity (ROE) stands at 6.08%. The stock's price-to-earnings (P/E) ratio is notably high at 71.00, suggesting a premium valuation in the current market environment.
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