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Should You Be Excited About Changjiu Holdings Limited's (HKG:6959) 72% Return On Equity?
Hong Kong stock market anomaly | Changjiu shares (06959) rose nearly 5%, with a expected increase of up to 70% in net profit in the first half of the year.
Changjiu Stock (06959) fell after a high opening in the morning, falling nearly 7% at one point during the day, and rose nearly 5% in the afternoon, with a rise of 4.92% as of the time of writing, at HKD 16.2, with a turnover of HKD 3.2917 million.
Changjiu Holdings Expects Up to 70% Profit Jump in H1; Shares Down 3%
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Changjiu Shares (06959.HK) is planning to hold a board of directors meeting on August 27 to approve its mid-term performance.
Changjiu Co., Ltd. (06959.HK) announced on August 15 that the board of directors will hold a meeting on Tuesday, August 27, 2024 to consider and approve the unaudited interim performance of the Group for the six months ended June 30, 2024, as well as the proposed interim dividend (if any).
Changjiu Shares (06959.HK) announced profit surge: It is expected that the net income for the first half of the year will increase by 55.8% to 70.0% compared to the same period last year.
Changjiu shares (06959.HK) released an announcement on August 15th. During the six months ending on June 30, 2024 (the "reporting period"), the company is expected to record a net income of approximately RMB 55 million to RMB 60 million, an increase of approximately 55.8% to 70.0% compared to the net income of approximately RMB 35.3 million in the six months ending on June 30, 2023. The company is expected to record adjusted net income (measured using non-International Financial Reporting Standards) during the reporting period (defined as adjusting through adding back listing expenses and share-based compensation expenses).
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