Quanfeng Holdings (02285) is now up nearly 5%. As of press time, it has risen by 4.6% to HKD 19.54, with a turnover of HKD 21.9295 million.
According to the WiseMoney APP, Quanfeng Holdings (02285) is now up nearly 5%. As of press time, it has risen by 4.6% to HKD 19.54, with a turnover of HKD 21.9295 million.
On the news front, Quanfeng Holdings announced its profit increase. It is expected that the net income for the first half of 2024 will be 60-65 million USD, with a year-on-year growth rate of 22-33%. Based on the company's growth momentum in the first half of 2024, the company's profits, financial status, and cash flow are all showing a positive trend, and the company is more confident in achieving its revenue growth target and improving profitability this year.
Caitong Securities stated that the performance in H1 2024 surpassed expectations, and the full-year target is expected to be achieved. The company's full-year business sales growth target is 15-20%. Due to the current trend of optimizing profits, cash flow, and financial situation in H1 2024, the company is confident in achieving its full-year target. As a leading brand in the lithium-ion grass trimmer industry, the company will benefit first from channel restocking and is expected to benefit from the stimulation of mid- to high-range consumption brought by interest rate cuts, and the performance improvement will be sustainable.