Times Electric (03898) rose nearly 4%. As of press release, it was up 3.83% to HK$31.15, with a turnover of HK$33.4373 million.
The Zhitong Finance App learned that Times Electric (03898) rose nearly 4%. As of press release, it had risen 3.83% to HK$31.15, with a turnover of HK$33.4373 million.
According to a research report released by Shanxi Securities, in the short to medium term, the recovery in demand for rail transit equipment, increased maintenance, and the urban rail signal system business are expected to jointly push the company's business into a new stage. Power semiconductor production capacity is expected to further help the company expand its market share, optimize its product structure, and support the development of the system business. In the medium to long term, the company uses “device-component-system” to build a product matrix. Platform-based electrical solution provider Hongtu has shown that the market share of the system business continues to increase, which is expected to form a situation where transportation and new energy are flying side by side to achieve leapfrog development.
Previously, Times Electric (03898) announced its results for the first quarter of 2024. The group achieved operating income of 3.925 billion yuan (RMB, same below) during the period, an increase of 27.2% over the previous year; net profit attributable to shareholders of listed companies was 0.568 billion yuan, an increase of 30.44% year on year; and basic earnings per share were 0.4 yuan. According to the announcement, the increase in net profit due to the increase in the company's operating profit during the reporting period was mainly due to the increase in the company's operating profit.