Hong Kong Stock Market News | CH TREASURES NM rebounds sharply by over 16% after plummeting 85% in the previous two trading days.
CH TREASURES NM has rebounded significantly by over 16%. As of the time of writing, it has increased by 16.05% to HKD 0.47, with a trading volume of HKD 2.39 million. Previously, the company's stock price experienced a sharp decline of 85% on January 19th and 22nd. According to reports, based on the sales revenue of disposable biodegradable plastic products in 2021, CH TREASURES NM ranks fourth among all disposable biodegradable plastic product manufacturers in China, with a market share of approximately 2.6%. It ranks first among all disposable biodegradable plastic product manufacturers in Northeast China, with a market share of 29.6%. Analysts point out that the market for disposable biodegradable plastic products in China is fragmented, with approximately 1,200 market operators as of December 31st, 2021. CH TREASURES NM not only faces competition from existing industry competitors but also the threat of new entrants. In addition, as the biodegradable plastic industry further improves its product standards system, strengthens market supervision and degradable labeling management, and increases the crackdown on "pseudo-degradable" products, small-scale and technologically weak enterprises will be eliminated at an accelerated pace.
Zhitong App learned that CH TREASURES NM (02439) has rebounded significantly by over 16%. As of the time of writing, it has increased by 16.05% to HKD 0.47, with a trading volume of HKD 2.39 million. Prior to this, the company's stock price plummeted by 85% on January 19th and 22nd.
It is reported that based on the sales revenue of disposable biodegradable plastic products in 2021, CH TREASURES NM ranks fourth among all disposable biodegradable plastic product manufacturers in China, with a market share of approximately 2.6%. It ranks first among all disposable biodegradable plastic product manufacturers in Northeast China, with a market share of 29.6%.
Analysts believe that the market for disposable biodegradable plastic products in China is fragmented. As of December 31, 2021, there were approximately 1,200 market operators. CH TREASURES NM not only faces competition from existing competitors in the industry but also faces threats from new entrants. In addition, as the biodegradable plastic industry further improves its product standard system, strengthens market supervision and degradable labeling management, and increases the punishment for "pseudo-degradable" products, small-scale and technologically weak companies will be eliminated at an accelerated pace.