HK Stock Market Move | Asia Cement CH(00743) rises nearly 3% after issuing profit warning. It is expected that the annual loss attributable to shareholders will be approximately 264 million yuan, turning from a profit to a loss compared to the previous year.

After issuing a profit warning, ASIA CEMENT CH (00743) rose nearly 3% as of the time of publication, up 2.78% to HK$2.22, with a turnover of HK$3.0534 million. On the news front, on January 22, ASIA CEMENT CH announced that the group is expected to incur a unaudited loss attributable to equity holders of approximately RMB 263.7 million for the year ending December 31, 2024, compared to a profit of approximately RMB 106.1 million for the year ending December 31, 2023. The board of directors believes that the expected decrease is mainly due to a decrease in selling prices of the group's products compared to the same period last year.