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HKEX Active | CTIHK (06055) gains over 5% against the trend, with net profit expected to increase by over 30% in the first half of the year. New tobacco business and potential mergers and acquisitions are expected to drive growth.
Ctihk (06055) rose more than 5% against the market. As of press time, it rose by 5.2%, to HKD 15.38, with a turnover of HKD 17.8585 million.
Is China Tobacco International (HK) Company Limited's (HKG:6055) Recent Stock Performance Tethered To Its Strong Fundamentals?
HKEx Stocks Alert | China Tobacco Hong Kong (06055) surged by more than 5% in early trading, with an expected increase in net profit of over 30% in the first half of the year. The company will help Great Wall Cigar speed up its expansion overseas.
According to the Zhongtong Finance APP, China Tobacco Hong Kong (06055) rose over 5% in early trading. As of the time of publication, it has risen by 3.65% to HKD 15.34, with a turnover of HKD 25.8777 million. On the news front, China Tobacco Hong Kong previously released a positive profit forecast, expecting a year-on-year increase in attributable profits to shareholders of no less than 30% for the six months ending at the end of June, and revenue growth of no less than 10%. Zhongjin Securities stated that China Tobacco Hong Kong's profit forecast is better than the bank's expectations, mainly due to the rapid growth of its cigarette export business and the sustained growth of its tobacco leaf import business. In addition, China Tobacco Hong Kong has entered into a long-term strategic partnership with Sichuan Tobacco starting from April 2024.
Hong Kong stock concept tracking | From July 1st, the tax-free allowance for mainland China entering Hong Kong and Macau will be increased. Operators of duty-free shops at ports are expected to benefit. (Attached concept stocks)
Starting from July 1st, mainland residents' duty-free limit for entering Hong Kong and Macao has been raised to 12,000 yuan.
HK stocks fluctuate | ctihk (06055) now rises more than 3%. Institutions say tobacco prices are in an upward cycle and cigarette export business is growing rapidly.
Zhī tōng cái jīng APP learned that ctihk (06055) is now up more than 3%, and as of press time, it is up by 2.91% to HKD 16.98, with a turnover of HKD 18.83 million. On the news front, ctihk previously announced a positive profit forecast, expecting a year-on-year increase in attributable profit to shareholders of no less than 30% for the six months ending in June; and revenue growth of no less than 10%. CICC said that ctihk's profit forecast is better than the bank's expectations, mainly due to the rapid growth of its cigarette export business and the continuous growth of tobacco leaf import business. AXIOM issued a research report stating that overall, the franchise rights have brought the company a solid business operation performance.
FDA approves the sale of menthol-flavored electronic cigarettes in the USA, which may boost the performance of leading e-cigarette companies.
On June 6th, the US Food and Drug Administration (FDA) revoked the marketing refusal order for Juul in June 2022 and re-entered the company's application into the scientific review process.
Many Would Be Envious Of China Tobacco International (HK)'s (HKG:6055) Excellent Returns On CapitalNo Data
