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H&H International Holdings (01112.HK) held a board of directors meeting on August 27 to consider and approve mid-term performance.
H&H International Holdings (01112.HK) announced that it will hold a board of directors meeting at 9:00 am on Tuesday, August 27, 2024 (tentatively) at units 4007-09, 40/F, One Island East, 18 Westlands Road, Quarry Bay, Hong Kong to consider and approve the Group's interim results for the six months ended June 30, 2024, the payment of interim dividends (if any), and deal with other matters.
H&H INTL HLDG: Date of Board Meeting
Citigroup: Reiterated the "buy" rating for H&H International Holdings, with target price lowered to HKD 11.8.
Citi released a research report stating that it reiterated its "buy" rating for H&H International Holdings (01112) with a target price lowered from HKD 15.6 to HKD 11.8. The company initially expects a 45% to 55% drop in net profit for the first half of the year, and a 30% to 40% drop in adjusted net profit, which is lower than the bank's expectations. The bank believes that the decline in profit is due to a decrease in revenue and EBITDA profit margin from the same period last year, as well as rising financing costs. The revenue and EBITDA profit trends are both lower than expected, mainly due to the slowdown in ANC's second-quarter sales, the decrease in BNC's operating leverage due to sales decline, and the restructuring costs of PNC.
HK stock anomaly | H&H International Holdings (01112) fell more than 3%. The income in the first half of the year saw a low double-digit decline. After adjustment, the comparable net profit is expected to fall by more than 30%.
H&H International Holdings (01112) fell more than 3%, as of press time, down 2.7% at HK$8.64, with a turnover of HK$1.5842 million.
Hong Kong stock announcement: Pop Mart is expected to achieve a mid-term profit increase of no less than 90% year-on-year. Luk Fook Group's overall retail value fell by 18% year-on-year in the first quarter.
H&H International Holdings Limited (01112) is expected to see a decline in adjusted net profit of 30% to 40% YoY in the first half of this year.
H&H's Revenue Down in H1; Profit Forecast to Fall Up to 55%
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