Shenzhou International (02313) opened more than 6% higher. As of press release, it rose 6.16% to HK$69.85, with a turnover of HK$87.6467 million.
The Zhitong Finance App learned that Shenzhou International (02313) opened more than 6% higher. As of press release, it rose 6.16% to HK$69.85, with a turnover of HK$87.6467 million.
According to the news, Shenzhou International announced its 2023 annual results, with revenue of 24.97 billion yuan (RMB, same below), a year-on-year decrease of 10.12%; annual profit attributable to parent company owners was 4.557 billion yuan, a year-on-year decrease of 0.12%; and plans to pay a final dividend of HK$1.08 per share. According to the Damo Index, net profit for the second half of last year rose 11% year on year to RMB 2.43 billion, lower than the bank's forecast of 4% but in line with market expectations. The target price is HK$100 for Shenzhou International. The market is expected to pay attention to the company's order status and customer demand this year, as well as gross margin trends.
CICC said that the decline in Europe, America, and sports dragged down the company's revenue, and the share of domestic brands continued to rise. In addition, the company's capacity utilization rate has recovered. Combined with the improvement in the operation of new overseas plants and the elimination of an unfavorable production environment in 2022, the company's gross margin in 2023 increased by 2.2 ppt to 24.3% under last year's low base. The gross margin during the year was repaired quarterly, and 2H23 gross margin increased to 26% +.