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HK stocks surge | Tu-Hu-W (09690) rises by over 5%, company profits expand faster than expected, indicating potential increase in store openings.
Tuhu-W (09690) rose by more than 5%, as of press time, up 5.22% to HK$16.92, with a turnover of 9.6442 million HK dollars.
[Brokerage Focus] China Post Securities maintains a "buy" rating on Tuhu (09690), stating that product improvements are expected to drive an increase in the company's profitability.
Jinwu Caixun | China Post Securities issued a research report stating that Tuhu (09690) achieved revenue of 7.126 billion in the first half of 2024, a year-on-year increase of +9.3%. The adjusted net income was 0.358 billion, a year-on-year increase of +67.3%, and the adjusted net margin was 5.0%, a quarter-on-quarter increase of +1.2 percentage points. Benefiting from scale effects and improvements in product/business structure, the gross margin for the first half of 2024 was 25.9%, a year-on-year increase of +1.7 percentage points. The bank continued to point out that, in terms of business segments, tire and chassis components/car maintenance/advertising, franchising, and other business revenues in the first half of 2024 were +11%, +11%, and +4%, respectively, with tire and chassis...
Deutsche Bank: Raises target price of Tuhu-W (09690) to HKD 24, rating 'shareholding'.
The management of Tuhu Car Maintenance pointed out that the long-term goal is to open 0.01 million stores in mainland China, indicating the potential for opening 0.015 million stores.
Tuhu-W (9690.HK): Seek progress while maintaining stability, crossing the cycle.
Only when the tide recedes do we know who is swimming naked. In the fast-growing industry, it is difficult to discern whether a company's rapid development is due to the prosperity of the industry or its own strong capabilities; but when the industry enters an adjustment period, slowing growth or even a decline, those companies that can surpass the industry average and maintain steady growth will appear more outstanding and precious. Influenced by the macro environment and base effect, the overall performance of the automotive aftermarket in the second quarter was relatively flat, with a 1% year-on-year decline in the number of vehicles entering the factory. The number of vehicles entering the factory in each month of the second quarter was lower than the same period last year, and also showed a monthly decline.
CICC: Maintains 'Outperform' rating on Tuhu-W (09690), with a target price of HK$24.5.
CICC believes that Tuhu-W (09690) still has a large room for improvement in profitability.
Tuhu's interim report: revenue of 7.1 billion yuan, a year-on-year increase of 9.3%, profit of 0.358 billion yuan, a year-on-year increase of 67.3%.
Tuhu Auto released its mid-year report for 2024. In the first half of the year, Tuhu Auto achieved revenue of 7.1 billion yuan (RMB, the same below), an increase of 9.3% year-on-year; adjusted net income of 0.358 billion yuan, an increase of 67.3% year-on-year.
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