Polyester products price sliding poses impact over Yizheng Chemical Fibre profit

Yizheng Chemical Fibre (1033) claimed it had already noticed that the price and turnover of its A shares in Shanghai Stock Exchange had sharply increased, but it was unaware of the reasons. 

The company also claimed that as the relations of supply and demand changed, the price of polyester products in China mainland began to slide since last November and meanwhile the changes of polyester products market and the raw material price also posed impact over the profit of the company. However, the company would take some actions to increase the output, save the energy, decrease the cost so as to diminish the impact to the smallest. 

According to the rules of Shanghai stock Exchange, the A shares of the company in Shanghai Stock Exchange were suspended for a morning, while its H shares in Hong Kong market went on trading.

Related stock : (1033)