HK Stock Market Move | China Sanjiang (02198) rose by over 12% at the opening. It is expected that the annual net profit attributable to shareholders will be approximately 450 million to 550 million yuan.

China Sanjiang (02198) opened more than 12% higher, as of the time of writing, it has risen 12.21% to HK$1.93, with a trading volume of HK$357,000. On the news front, China Sanjiang announced that the group expects to achieve a net profit attributable to the owners of the parent company of between RMB 450 million and RMB 550 million for the year ending December 31, 2024, compared to approximately RMB 91.5 million for the year ending December 31, 2023. The expected increase in net profit attributable to the owners of the parent company is mainly due to the comprehensive impact of the following factors: the average selling price of ethylene glycol and its sales volume increased by about 9.8% and 82.6% respectively during the review year, while the average selling price of butadiene and its sales volume increased by about 51.1% and 105.2% respectively during the review year.