HK Stock Market Move | DONGYUE GROUP (00189) is currently down more than 4% due to the price decline of silicone products. Its subsidiary, Shandong Dongyue Silicone Material, saw a maximum decrease of 97% in net profit in the first three quarters.

DONGYUE GROUP (00189) is now down more than 4%, at the time of writing, down 4.41% to HKD 11.91, with a turnover of HKD 125 million. On the news front, DONGYUE GROUP announced that its non-wholly-owned subsidiary, Shandong Dongyue Silicone Material (300821.SZ), is expected to see a year-on-year decrease in net profit of about 96.27% to 97.40% in the first three quarters; and a decrease in net profit after deducting non-recurring gains and losses of about 87.10% to 88.14% year-on-year. During this period, the company's main product sales revenue and gross profit margin decreased due to the downward fluctuation of prices of silicone products; and the work stoppage loss caused by a fire accident at the Synthetic III Phase B plant had a negative impact on the performance.