The Zhitong Finance App learned that Times Electric (03898) rose nearly 5% after the results. As of press release, it had risen 4.62% to HK$30.6, with a turnover of HK$469.337 million.
According to the news, Times Electric announced its results for the first quarter of 2024. The group achieved operating income of 3,925 billion yuan during the period, an increase of 27.2% over the previous year; net profit attributable to shareholders of listed companies was 568 million yuan, an increase of 30.44% over the previous year. The increase in net profit due to the increase in the company's operating profit during the reporting period was mainly due to the increase in the company's operating profit.
Komo recently released a research report saying that Market Focus Company has recently switched its focus back from IGBT/semiconductor business to railway equipment/parts, mainly due to global IGBT companies emphasizing the risk of price reduction due to weak terminal demand and oversupply. The bank is optimistic about the rising potential of the company's railway equipment due to the strong increase in demand for railway passengers after the epidemic and benefiting from policy measures. As for the IGBT/semiconductor business, the bank believes that the company's vertically integrated business model will help reduce the risk of oversupply.