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Intellicon HK Stock Investment Journal | August 12th
HK Stock Investment Log | August 12, 2024
Hong Kong stock abnormality | Today, sporting goods stocks have rebounded, and the Olympic economy continues to heat up, with China's sports brands accelerating their overseas expansion.
Sporting goods stocks rebounded today. As of press time, Topsports (06110) rose 3.73% to HKD 3.34; 361 Degrees (01361) rose 3.68% to HKD 3.38; Yue Yuen Ind (00551) rose 2.01% to HKD 12.2; Xtep Int'l (01368) rose 1.9% to HKD 4.82.
Shareholders in Yue Yuen Industrial (Holdings) (HKG:551) Have Lost 28%, as Stock Drops 6.3% This Past Week
[Brokerage Focus] Tianfeng Securities maintains a “buy” rating on Yue Yuen Ind (00551), and it is expected that cost reduction and efficiency enhancement will continue to drive profit growth.
Tianfeng Securities issued a research report that Yue Yuen Ind (00551) is expected to have a 115%-120% increase in net profit attributable to shareholders in 24H1, reaching USD 0.18-0.184 billion; among them, 24Q2 net profit attributable to shareholders reaches USD 0.08-0.084 billion, with a growth of 143%-156%. The increase in profits is mainly due to the gradual recovery of the global footwear industry, the smooth demand for footwear production capacity of the company's manufacturing business, and the low base effect. In addition, there were no related expenses for capacity adjustment in 24H1, while one-time expenses of approximately USD 0.02 billion were generated for capacity adjustment in the same period last year. At the same time, the company sold its joint venture in 24H1.
HK stocks fluctuate | Yue Yuen Ind. (00551) rebounds by over 4%, and is expected to have a year-on-year increase of 115% to 120% in net profit for the first half of the year.
Yue Yuen Ind (00551) rebounded by over 4%. As of press time, it rose by 4.24% to HKD 12.3 with a turnover of 10.9198 million HKD.
HK stocks are volatile | Sporting goods stocks are under pressure as Citigroup expects weak retail sales data in July and holds a cautious outlook for the industry's future.
Sporting goods stocks are generally under pressure. As of press time, Yue Yuen Ind (00551) fell 3.61% to HKD 12.3; Topsports (06110) fell 3.27% to HKD 3.17; Xtep Int'l (01368) fell 1.7% to HKD 3.62.
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