texhong intl gp (02678) is now up nearly 7%, up 6.8% as of the time of publication, at HK$3.77, with a turnover of 4.7485 million Hong Kong dollars.
According to the Wise News Finance APP, texhong intl gp (02678) is now up nearly 7%, up 6.8% as of the time of publication, at HK$3.77, with a turnover of 4.7485 million Hong Kong dollars.
On the news front, texhong intl gp previously released its interim performance, with first-half revenue increasing by 4.2% to 11.24 billion yuan year-on-year, mainly driven by the growth of the yarn main business; net income attributable to shareholders was 0.27 billion yuan, turning a loss of 0.75 billion yuan in the same period last year, achieving a reversal of losses to profits. The gross margin increased significantly by 10.8 percentage points year-on-year to 13.2%, up 3.1 percentage points quarter-on-quarter, mainly benefiting from the recovery of production capacity utilization and the completion of the digestion of high-priced inventory cost pressure at the end of last year.
guosen Securities released a research report stating that texhong intl gp is a global leader in cotton yarn production. In the first half of the year, the company's yarn main business showed steady growth, with improvements in gross margin for various businesses compared to the previous period driven by the recovery of production capacity utilization and cost optimization. The second half of the year is expected to see continued recovery and warming in order volume and prices. In the medium to long term, the trend is towards the local supply chain, with the company's early global layout providing local supply chain and fast response advantages, along with its leading scale advantage, which is expected to continue gaining market share.