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With net profit increasing by 30%, will Quanfeng Holdings (02285), whose performance and stock price have been continuously declining, welcome a turning point?
With the disclosure of this performance profit, Quanfeng Holding's stock price finally seems to show signs of rising.
Caitong Securities: Quanfeng Holdings (02285) is expected to have a net income of 60-65 million US dollars in the first half of 2024, and the rating remains as "shareholding".
Caitong Securities expects Quanfeng Holdings (02285) to achieve a net income attributable to shareholders of 0.09/0.13/0.15 billion USD from 2024 to 2026.
Quanfeng Holdings (02285) rose by 4.82% in Hong Kong Stock Connect. Institutions claim that it benefited from the North American spring climate and promotional activities, with strong sustainability in performance recovery.
Jingu Caixin | Quanfeng Holdings (02285) fluctuated and rose by 4.82% as of press time, with a stock price of HKD 19.58 and a turnover of HKD 50.1295 million. The company announced that it is expected to achieve a net profit of about USD 60 million to USD 65 million for the interim period ending June 30, an increase of approximately 22%-33%. The announcement stated that the main reasons for the expected increase in net profit are strong terminal sales performance, increased customer orders, increased revenue, expanding production scale and improving production efficiency, optimizing operating expenses, and improving profitability, benefited from factors such as exchange rates and raw material costs. The Group is committed to achieving its revenue growth targets this year and achieving its goals.
Hong Kong Stock Market News: Quanfeng Holdings (02285) rose nearly 5% with better-than-expected performance in the first half of the year and is expected to benefit from the reduction of interest rates to drive high-end consumer spending.
Quanfeng Holdings (02285) is now up nearly 5%, as of press time, up 4.6%, at HKD19.54, with a turnover of 21.9295 million Hong Kong dollars.
[Brokerage Focus] Caitong Securities maintains its "shareholding" rating for Quanfeng Holdings (02285), indicating that it is expected to benefit from the interest rate reduction driving high-end consumer spending.
Caitong Securities issued a research report. Quanfeng Holdings (02285) announced its earnings guidance, with a net income of $60-65 million in the first half of 2024, a year-on-year increase of 22-33% (net income for the same period in 2023 was $49 million). The company's full-year business sales growth target is 15-20%. Due to the current optimization trend of H1 profits, cash flow and financial status, the company is confident in achieving its full-year target. The bank pointed out that the company's revenue growth in the first half of the year is expected to be mainly due to: 1) bullish North American spring weather in 2024, leading to fast lawn growth and increased lawn mower sales.
Chervon Expects Up to 33% Higher Profit in H1
Chervon Holdings (HKG:2285) expects net profit to reach about $60 million to $65 million for the six months ended June 30, a 22% to 33% increase from the $49 million profit recorded a year ago,
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