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Prinx Chengshan Holdings Forecasts Up to 160% Surge in H1 Profit
Prinx Chengshan (01809.HK)'s interim net profit is expected to increase by up to 1.6 times to 0.85 billion RMB in the forecast of "Yingxi".
Prinx Chengshan (01809.HK) issued a profit warning, expecting a profit of between 0.752 billion to 0.85 billion RMB for the six months ended in June, a growth of 130% -160% compared to the same period in 2023. It is mainly due to the increasing production and sales in the domestic automobile industry, steady growth in overseas tire market demand, and the refund of anti-dumping duties on passenger vehicle and light truck tires originating from Thailand.
Prinx Chengshan Forecasts Major Profit Surge
Prinx Chengshan (01809.HK) Profit Express: Expected mid-term net profit of 0.752 billion yuan to 0.85 billion yuan, a year-on-year increase of about 130% to 160%.
On July 19th, GeLongHui reported that Prinx Chengshan (01809.HK) expects the company's attributable net profit for the six months ending on June 30, 2024 to be between approximately RMB 0.752 billion and RMB 0.85 billion, an increase of about 130% to 160% compared to the same period last year. According to information available to the Board of Directors, the Board believes that the significant increase in expected net profit from the same period last year is mainly due to the growth of the domestic auto industry's production and sales, steady growth in demand for overseas tire markets, and the refund of anti-dumping duties on passenger vehicles and light truck tires originating from Thailand.
PRINX CHENGSHAN: POSITIVE PROFIT ALERT
Sealand Securities: Tires embark on a journey of high-end and internationalized development.
As the low-end market becomes increasingly saturated, it is inevitable for domestic tires to move towards high-end products. The high-end market tests the outstanding product strength, broad channels, and high brand recognition of enterprises. The higher barriers will also bring more lucrative returns.
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