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[Brokerage Focus] China Securities Co., Ltd.: January sales of excavation machinery performed better than expected, and it is anticipated that from this year on, Construction Machinery will likely continue to grow well overseas.
Jinwu Financial News | China Securities Co., Ltd. stated that in January, the sales of earth-moving machinery exceeded expectations. Despite the impact of the Spring Festival, the overall sales of excavators and loaders in January achieved growth, with domestic sales remaining nearly flat and export sales slightly increasing, performing better than anticipated. Currently, overseas revenue accounts for nearly 50% of Construction Machinery companies, with some companies exceeding 50%, and the gross margin in overseas markets is higher than in the domestic market. Profits are primarily coming from overseas, and the company believes that future perspectives should focus more on overseas markets. Against the backdrop of interest rate cuts in the USA, there is a more Bullish outlook on non-U.S. overseas supply chains, with expectations that overseas sales of Construction Machinery will continue from 2025.
LONKING (03339.HK) plans to hold a Board of Directors meeting on March 26 to approve the annual performance.
Glory Financial reported on January 24 that LONKING (03339.HK) announced that the Board of Directors meeting will be held on March 26, 2025, at the fifth floor of Jucai Building, No. 26, Minyi Road, Songjiang Industrial Zone, Shanghai, to consider and approve the financial performance report for the year ending December 31, 2024, and the payment of the final dividend (if any).
LONKING: DATE OF BOARD MEETING
Shareholders 17% Loss in Lonking Holdings (HKG:3339) Partly Attributable to the Company's Decline in Earnings Over Past Three Years
Lonking Holdings Anticipates Up to 66% Higher Net Profit in 2024
LONKING (03339.HK) expects annual Net income of approximately 1 billion yuan to -1.07 billion yuan, a year-on-year growth of 55% to 66%.
On January 17, Gelonghui reported that LONKING (03339.HK) announced that compared to the same period last year, the group expects a substantial increase in net income for the fiscal year ending December 31, 2024. The Board of Directors anticipates that net income during the reporting period will be approximately between 1 billion yuan to 1.07 billion yuan, an increase of 55% to 66% compared to the same period last year. The increase in net income during the reporting period is mainly due to (i) the group's successful quality improvement and cost control efforts and continued growth in export revenue, leading to an improvement in the overall gross margin year-on-year; (ii) an increase in net profits generated from financial assets year-on-year.
Founder & Non Executive Vice Chairman of Lonking Holdings Ngan Ying Ngai Buys More Stock
