Changes in Hong Kong stocks | China Metallurgical (01618) continued to fall by more than 4% yesterday, falling more than 21% yesterday and previously announced plans to sell assets for 60.7 billion yuan

The Zhitong Finance App learned that China Metallurgical (01618) fell by more than 4%, and the stock fell by more than 21% yesterday. As of press release, it decreased by 4.26% to HK$1.8 million, with a turnover of HK$178 million.

According to the news, China Metallurgical recently announced that the company plans to sell 100% of the shares held by China Metallurgical Real Estate and the underlying claim to China Metals Real Estate Holdings, and sell 100% of the shares held by Nonferrous Metals, China Metallurgical Copper and Zinc, Ruimu Management, and 67.02% of China Metallurgical Jinji's shares to China Minmetals. China Huaye, a holding subsidiary of the company, plans to sell 100% of its shares held by China Metallurgical Duda to China Minmetals or its designated entities. The transaction was a cash transaction, and the transaction price was approximately RMB 60.7 billion.

It is worth noting that China Metallurgical's performance in recent years is under pressure. Net profit from 2022 to 2024 was 10.27 billion yuan, 8.67 billion yuan, and 6.746 billion yuan, respectively. The company announcement stated that through this transaction, the company will divest non-core assets and optimize the allocation of resources, which is conducive to optimizing the company's business structure, focusing on core business, and enhancing core competitiveness and sustainable profitability.