STOCKS | Guochuang Hi-Tech Says Asphalt Business Gross Margin Was 4.54% in Latest Fiscal Year

According to Jin10, Guochuang Hi-Tech said its stock had an abnormal trading fluctuation after the closing price deviated by a cumulative 22.31% over two consecutive trading days, and it noted that recent gains in international crude oil prices have pushed up asphalt prices and drawn more market attention to its asphalt business. The company said its main business is the research, production, and sale of pavement asphalt products, petroleum asphalt is its main raw material, and higher petroleum asphalt prices will raise raw material procurement costs, while product price adjustments depend on downstream customers' pricing mechanisms and road construction demand. It added that in the latest fiscal year, the gross margin of its asphalt business was 4.54%, which was at a relatively low level.