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Hong Kong stocks surge | Quanfeng Holdings (02285) rose nearly 4% in the morning, with performance in the first half of the year exceeding expectations for recovery, and interest rate cuts expected to drive growth in tool demand.
Quanfeng Holdings (02285) rose nearly 4% in early trading. As of the time of publication, it has risen by 3.46% to HK$19.76, with a turnover of 1.9612 million Hong Kong dollars.
[Brokerage Focus] Founder Securities maintains a "recommended" rating on Quanfeng Holdings (02285), bullish on the company's continuous expansion of sales network
Jingu Finance News | Founder Securities issued a research report, indicating that Quanfeng Holdings (02285) achieved revenue of 0.82 billion USD in 2024H1, up 10.5% year-on-year, with adjusted net income of 0.062 billion USD, up 24.4% year-on-year. This was mainly due to stimulating terminal demand through promotional activities, accelerating channel destocking, and a significant increase in customer order volume. The gross margin of the company in 2024H1 increased from 32.1% to 32.9%, mainly due to the recovery in scale, improved operational efficiency, favorable raw material costs, and currency exchange rates. The bank stated that the post-rate cut is expected to drive recovery in demand for post-cycle product categories in the US real estate chain, combined with consumer replacement.
Is It Time To Consider Buying Chervon Holdings Limited (HKG:2285)?
Chervon Holdings Logs 25% Jump in H1 Profit as Revenue Rises 10.5%
【Hong Kong stock connect】GF Securities (02285) recorded a 25.26% increase in half-year surplus, and no interim dividends will be distributed.
Golden Financial News | Quanfeng Holdings (02285) announced that for the six months ended June 30, 2024, the company's equity shareholders' attributable profit was 61.525 million yuan (in USD, the same below), a year-on-year increase of 25.26%, and basic earnings per share were 0.12 yuan. Adjusted net profit increased by 24.4% to 61.6 million USD. No interim dividend will be paid. During the period, the group's revenue was 0.856 billion yuan, a year-on-year increase of 10.45%. Among them, the revenue of the Outdoor Power Equipment (OPE) division increased by 10.2% to 0.49 billion yuan, and the revenue of the Electric Tool division increased by 9.5% to 0.314 billion yuan. During the period, the group
Express News | Chervon Holdings H1 Net Income USD 61.6 Million
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