Fuzhikang Group (02038) rose more than 18% in the morning and fell slightly in the afternoon. The stock price is now up 6.90% to HK$0.93, with a turnover of HK$60.7425 million.
Fuzhikang Group previously announced that by the end of September, revenue and other operating income for the first three quarters was 4.15 billion US dollars, down 20% year on year; losses narrowed from 70.2 million US dollars in the same period last year to 2,6.211 million US dollars. In the third quarter alone, operating income and other operating income were 2.26 billion US dollars, down 5.3% from the previous year, and profit was 5.432 million US dollars. In the same period last year, a loss of 2,0.365 million US dollars was recorded, turning a loss into a profit.
The announcement said that looking ahead, the company expects a year-on-year decline in sales for the 2024 fiscal year, mainly due to fierce competition and changes in customer outsourcing strategies. Despite reduced operating expenses, low asset utilization remains a major challenge. The company expects financial performance to improve in the second half of the year through measures such as optimizing the customer portfolio and cutting expenses.
