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This week's bullish stocks in Hong Kong | AI models are in the spotlight! Shangtang's stock price doubled this week; Kewang stocks took the lead, and Kuaishou rose more than 27% weekly
The volume of the three major indices surged this week, and the “beef flavor” is getting stronger. The Hang Seng Index rose more than 13% during the week, while the Hang Seng Index and the State-owned Enterprises Index both rose for five consecutive days.
Citibank: Reiterates Yue Yuan Group's (00551) “Buy” Rating Target Price Raised to HK$16.5
The Zhitong Finance App learned that Citi released a research report stating that it reaffirmed the “buy” rating of Yuyuan Group (00551), raised the net profit forecast for the 2024-2026 fiscal year by 20% to 22%, and raised the target price from HK$12.5 to HK$16.5 because the gross margin of the manufacturing business beat expectations. Taking into account the proceeds of a single sale, the Group's net profit for the first quarter is expected to rise 95% to 100% year-on-year under a low base. The bank believes it won expectations. The bank pointed out that Yuyuan Group's retail business is still under pressure. The retail business is expected to generate revenue this year under the downturn in consumption and weak purchasing power in the real estate market
Changes in Hong Kong stocks | Yuyuan Group (00551) opened more than 9% higher after profit, and net profit for the first quarter is expected to increase by more than 95% year-on-year
The Zhitong Finance App learned that Yuyuan Group (00551) opened more than 9% after profit. As of press release, it had risen 9.05% to HK$13.5, with a turnover of HK$5.197,500. According to the news, Yuyuan Group announced that profit attributable to company owners for the three months ending March 31, 2024 is expected to increase by about 95% to 100% year-on-year. Profit for the same period last year was $50.8 million. It has mainly benefited from the gradual recovery of the global footwear industry and the normalization of orders, which have led to improvements in capacity utilization and production efficiency, as well as support from the low base period effect. In addition, a portion of an associated company was sold during the period
Featured announcements | CNOOC's net profit for the first quarter was nearly 40 billion yuan; China Aluminum's net profit for the first quarter increased 23.01% year-on-year
ZTE's net profit for the first quarter increased by 3.74% year on year; Times Electric's net profit for the first quarter increased by 30.44% year on year.
Yuyuan Group: Earnings in the first quarter are expected to increase by more than 95%
Glonghui, April 25 | Yuyuan Group (0551.HK) announced that profit attributable to shareholders for the first quarter ending the end of March is expected to increase by about 95% to 1 times year-on-year; profit for the same period last year was US$508.44 million. According to the company, the expected increase in profits is mainly due to the gradual recovery of the global footwear industry and the normalization of orders, leading to improvements in capacity utilization and production efficiency, as well as support from the low base period effect. In addition, the sale of part of an equity interest in an associated company during the period generated a one-time income of about US$12.6 million, which also contributed positively to profit.
Yuyuan Group (00551) Fa Yingxi expects profit attributable to shareholders to increase by about 95% to 100% year-on-year in the first quarter
Yuyuan Group (00551) announced that the Group expects profit attributable to company owners for the three months ending March 31, 2024 to increase by about 95% to 100% compared to the profit of $50.8 million for the same period in 2023.
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