Home Business Nongfu Spring plunges 10% after losing the Hang Seng Index_stock price

Nongfu Spring plunges 10% after losing the Hang Seng Index_stock price

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Original title: Unsuccessful HSI Nongfu Spring plunges 10%

In the morning of November 22, Nongfu Spring drove lower and fell 10%. As of press time, it was reported to be 43.75 Hong Kong dollars, down 10.53%.

On the news side, Hang Seng announced the results of the quarterly review last Friday, including China Resources Beer, ENN Energy, JD.com, and NetEase in the Hang Seng Index. The number of constituent stocks will increase from 60 to 64, effective December 6.

Previously, institutions including CICC and China Merchants Bank International expected Nongfu Spring to become a rookie in the Hang Seng Index.

Nongfu Spring was listed on the Hong Kong Stock Exchange on September 8, 2020, at an issue price of 21.5 Hong Kong dollars per share. In just four months, Nongfu Spring’s share price reached a record high of 68.55 Hong Kong dollars per share on January 8, 2021, the largest increase by more than 218%, the founder Zhong Sui Sui also became the richest man in China.

However, with the weakening of the liquor and other food and beverage sectors, most of the consumer stock market values ​​fell sharply. Nongfu Spring’s stock price also took four months to hit a new low of 36.34 Hong Kong dollars, a 47% drop from its peak. Afterwards, it has been oscillating at the bottom, and it has not regained its gains until recently.

In terms of performance, Nongfu Spring achieved a net profit of 5.277 billion yuan in 2020, a year-on-year increase of 6.6%. Entering 2021, Nongfu Spring’s performance has resumed high growth. In the first half of 2021, the company’s revenue was 15.17 billion yuan, a year-on-year increase of 31.4%, and net profit was 4.013 billion yuan, a year-on-year increase of 40.1%.

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Source: China Business NewsReturn to Sohu to see more


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