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Investors Five-year Losses Continue as Shenzhen International Holdings (HKG:152) Dips a Further 3.3% This Week, Earnings Continue to Decline
[Brokerage Focus] Sealand Securities maintains a "buy" rating on Shenzhen Int'l (00152), indicating a clear path for the company's future value return.
Sealand Securities has released a research report stating that in the first half of 2024, Shenzhen International (00152) achieved a revenue of 6.61 billion Hong Kong dollars, a 4.46% year-on-year decrease, and a net income attributable to shareholders of 0.653 billion Hong Kong dollars, a 609.10% year-on-year increase. The bank stated that the company's logistics business achieved a revenue of 0.882 billion Hong Kong dollars in the first half of 2024, a 4.69% decrease compared to the same period last year. During this period, the company successfully realized the REITs listing of the Hangzhou Phase I project and the Guizhou Longli project, recording a post-tax income of 0.587 billion Hong Kong dollars. However, due to the fair value loss of the logistics park project of the company, an additional 0.209 billion Hong Kong dollars was incurred.
Hong Kong stocks surged nearly 5% after shenzhen int'l (00152) released its performance. Net profit in the first half of the year increased by over 6 times. The scale of logistics business continues to grow.
Shenzhen International (00152) rose nearly 5% after performance announcement, up 4.88% to HKD 6.23 at the time of publication, with a turnover of HKD 17.2151 million.
Shenzhen International's Profit Soars 609% in H1
Shenzhen International (00152.HK) first-half net profit attributable to shareholders increased by 609% to approximately HKD 0.653 billion.
Glory News on August 29th: Shenzhen International (00152.HK) announced its interim performance. In the first half of 2024, the group achieved a total revenue of approximately HKD 6.61 billion, excluding the impact of exchange rates, which was similar to the same period last year. Shareholders' attributable profit increased by 609% to approximately HKD 0.653 billion compared to the same period last year, mainly benefiting from the group successfully placing two logistics port projects into the Huaxia Shenzhen International Storage and Logistics Closed-End Infrastructure Securities Investment Fund ("Huaxia Shenzhen International REIT"), recording a post-tax income of approximately HKD 0.587 billion, and actively optimizing the internal and external currency structure to significantly reduce exchange losses. During this period,
Shenzhen International Holdings 1H Net HK$652.7M Vs. Net HK$92.0M >0152.HK
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