Quanfeng Holdings (02285) is now down more than 4%. Today's amplitude is as high as 16%. As of press release, it is down 4.03% to HK$21.45, with a turnover of HK$925736 million.
The Zhitong Finance App learned that Quanfeng Holdings (02285) is now down more than 4%. Today's amplitude is as high as 16%. As of press release, it is down 4.03% to HK$21.45, with a turnover of HK$925736 million.
Fangzheng Securities pointed out that the company's performance was under short-term pressure in 2023, mainly due to the decline in revenue due to the adoption of more conservative inventory policies by major customers; continued investment in research, product development, and channel expansion; accounting for inventory impairment provisions of about US$47.06 million; and the impact of joint company losses on the company's profit side was about US$18.34 million.
According to the China Merchants Securities Research Report, Quanfeng Holdings' overall annual revenue for the year was US$1,375 million, down 30.9% year on year; gross margin was 28.1%, down 2.3 pct year on year, and net profit loss was US$37 million. According to the bank, OPE growth fell short of expectations, and power tools are facing a slowdown in housing demand, the industry's inventory removal cycle, and a decrease in sales revenue. The bank pointed out that internal and external improvements continue, and future profit margins are yet to be repaired.