Newly Established Group (00659) surged up nearly 15% after the results. As of press release, it rose 14.93% to HK$8.47, with a turnover of HK$690,000.
The Zhitong Finance App learned that the newly founded group (00659) surged by nearly 15% after its performance. As of press release, it had risen 14.93% to HK$8.47, with a turnover of HK$690,000.
According to the news, Xinchuang Group announced its interim results for the six months ended December 31, 2023. Revenue increased 6.66% year over year to HK$13.985 billion, profit attributable to the company's shareholders rose steadily by 18% to HK$1,08.8 billion, adjusted EBITDA increased 44% year-on-year to HK$3,727.3 billion, basic and diluted earnings per share of HK$0.28, with an interim ordinary dividend of HK$0.30 per share and a special dividend of HK$1.79 per share.
According to the announcement, the overall operating profit attributable increased by 19% to HK$2,134 billion, mainly due to the continued recovery and growth of traffic flow and toll revenue from the road business; the insurance business benefited from increased marginal release of contract services due to business growth, higher return on investment in surplus assets, and the one-time impact of the adoption of Hong Kong Financial Reporting Standard No. 17; and the performance of Hong Kong Convention and Exhibition Centre and “duty-free” stores in the facility management business, but these positive contributions were partially offset by the following factors: mainly due to the Hong Kong Asian Container Logistics Center and the Mainland Logistics properties lacked revaluation income during this period, leading to a slight decline in operating profit attributable to logistics business; decline in operating profit attributable to strategic investment businesses; and negative effects caused by exchange rate fluctuations.