Nexteer (01316) rose more than 9% in the intraday period. As of press release, it was up 4.94% to HK$3.4, with a turnover of HK$45.463 million.
The Zhitong Finance App learned that Nexteer (01316) rose more than 9% in the intraday period. As of press release, it had risen 4.94% to HK$3.4, with a turnover of HK$45.463 million.
According to the news, Nexteer announced its annual results for the year ended December 31, 2023. Revenue increased 9.56% year on year to about US$4.207 billion, breaking through US$4 billion for the first time in the company's history; profit attributable to the company's equity holders decreased by 36.67% year on year to about US$36.737 million.
According to the announcement, the reason for the increase in revenue was that all three regional divisions were positively affected as automakers saw another annual increase in vehicle production compared to 2022. The decline in net profit was adversely affected by supplier disruptions, the UAW strike, and restructuring efforts. The amounts were US$49.3 million, US$15.3 million and US$10 million, respectively.