Net profit increased by 100% in Q1. Is there “mixed feelings” behind the low base effect of Yuyuan Group (00551)?

Since March, a sneaker foundry giant has quietly shown impressive gains. In less than 2 months, Yuyuan Group (00551) has risen from around HK$8 to over HK$14, an increase of nearly 200%, which has attracted a lot of attention from market capital. According to the news, Yuyuan Group recently announced that profit attributable to company owners will increase by about 95% to 100% year-on-year in the first quarter of 2024, compared to 50.8 million US dollars for the same period last year. The company pointed out that the increase in performance was mainly due to the gradual recovery of the global footwear industry and the normalization of orders, which led to an increase in capacity utilization and production efficiency, as well as a decrease

Zhitong FinanceApr 29 19:31

Read the list of Hong Kong stocks in April | The list of Hong Kong stocks for April has been released! Shangtang rose by nearly 70%, and TCL Electronics recorded 13 consecutive rises

A number of auto stocks showed strong performance. Brilliance China and Great Wall Motor recorded increases of 64.1% and 33.33% respectively during the month. It is worth noting that the former's stock price has doubled and surged since this year.

Futu NewsApr 29 16:50

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.

Futu NewsApr 27 10:52

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

Zhitong FinanceApr 26 11:37

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

Zhitong FinanceApr 26 09:24

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.

cls.cnApr 26 08:17