Chuangke Industries (00669) rose nearly 6%. As of press release, it rose 5.67% to HK$99.75, with a turnover of HK$354 million.
The Zhitong Finance App learned that Chuangke Industrial (00669) rose nearly 6%. As of press release, it had risen 5.67% to HK$99.75, with a turnover of HK$354 million.
According to the news, Morgan Stanley said that the company's performance in the second half of last year was better than market expectations. Improved revenue growth supported performance. The basic factors have bottomed out, and the outlook is positive. According to the report, the company expects medium unit revenue growth this year. Among them, the Milwaukee business will have low double-digit growth, while the consumer business category will grow steadily. According to Damo's supply chain survey, orders from I&T suppliers have increased positively since the third quarter of last year, reflecting some demand to replenish inventory.
Nomura, on the other hand, believes that due to strong group guidance, Milwaukee's sales volume is expected to achieve double-digit growth in 2024. According to the bank, Chuangke Industrial's performance in the second half of 2023 was steady, mainly supported by Milwaukee's growth. Profit increased 0.2% year over year to US$500 million, lower than market expectations of 0.9%; earnings per share were in line with expectations; revenue rose 10.2% to US$6.9 billion per year, 4% higher than market expectations.