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SJM Holdings Returns to Profit in 2024 as Net Revenue Surges 33%
Zhitong Hong Kong Stock Early Knowledge | Traders raise bets on a rate cut by the Federal Reserve as Europe announces an implementation of the 800 billion euro "Rearm Europe" plan.
Traders bet that the Federal Reserve will cut interest rates by 75 basis points this year, marking the first time since mid-December last year. The USA's 2-year yield, sensitive to policy, briefly fell by 6 basis points to 3.89%, the lowest level since October last year.
Hong Kong stock morning report | The USA fires the first shot in a comprehensive trade war, the three major US stock indices fall while Chinese concept stocks rise against the trend.
① The USA's tariff measures against Mexico and Canada officially took effect on Tuesday, after which both Canada and Mexico launched a comprehensive counterattack. The US Secretary of Commerce stated that Trump is considering reducing some tariffs on Mexico and Canada. ② China has continuously introduced countermeasures against the USA. ③ Zelensky stated he is ready to sign agreements with the USA regarding minerals and security at any time. ④ The three major US stock indexes fell on Tuesday, while most China Concept Stocks rose against the trend.
SJM Holdings: Accounted for 13.1% of Macau's Gross Gaming Revenue in 2024 >0880.HK
SJM Holdings 2024 Rev HK$28.77B Vs. HK$21.62B >0880.HK
SJM HOLDINGS (00880.HK) achieved a significant turnaround to profitability in the 2024 fiscal year, with a total net Gambling revenue of 26.846 billion Hong Kong dollars, an increase of 33.8% year-on-year.
On March 4, Gelonghui reported that SJM HOLDINGS (00880.HK) announced its annual performance for the year ending December 31, 2024. The group's Gambling net revenue was 26.846 billion HKD, a year-on-year increase of 33.8%; revenue from hotels, Dining, retail, leasing, and Other amounted to 2.186 billion HKD, an increase of 20.4% year-on-year; adjusted EBITDA was 3.764 billion HKD, up 117.9% year-on-year; the profit attributable to shareholders was 3 million HKD, compared to a loss of 2.01 billion HKD in the same period last year, with basic earnings per share of 0.04 HKD. During the reporting period, SJM HOLDINGS accounted for the gambling market in Macau.
