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敏華控股:2023/2024年報
[Broker Focus] Zheshang Securities maintains Minhua Holdings (01999) “buy” rating and expects its net profit to return to mother for the next 3 fiscal years to exceed 10%
Jinwu Financial News | According to Zheshang Securities Research and Development, Minhua Holdings (01999) achieved operating income of HK$18.411 billion (+6.1% YoY, RMB +10.8%) in fiscal year 23/24 (April 23 to March 24), with net profit of HK$2.02 billion (+20.2% YoY, RMB +25.5% YoY). The company's gross margin for fiscal year 23/24 was 39.4%, up 0.9 pct year on year; net interest rate was 12.5%, up 1.5 pct year on year, improving profitability. According to the bank, the company's revenue in the Chinese market during the period was 119
UBS: Mianhua Holdings downgraded to “neutral” and raised the target price to HK$7.1
According to a research report released by UBS, the valuation of Minhua Holdings (01999) was at a reasonable level, downgrading the rating from “buy” to “neutral”, and the earnings forecast per share for 2025 and 2026 was raised by 8% and 5% to a year-on-year decrease of 14% and 1%, and the target price was raised from HK$6.3 to HK$7.1. According to the report, driven by improved market sentiment, US interest rate cut expectations, China's real estate support policy, and the 2024 fiscal year's performance exceeding expectations, the company's stock price has rebounded by more than 50% since mid-February. However, its fundamentals are not without any challenges. Among them, the US market channel has been repaired
[Broker Focus] Shen Wan Hongyuan (Hong Kong) maintains Minhua Holdings (01999)'s “buy” rating, which indicates that higher dividends have a strong margin of safety
Jinwu Financial News | Shen Wan Hongyuan (Hong Kong) Research Report reports that Minhua Holdings (01999) announced the FY2024 report, with results slightly exceeding expectations: achieved revenue of HK$18.411 billion, +6.1% YoY (RMB +10.8%); net profit to mother of HK$2.02 billion, +20.2% YoY (RMB +25.5% YoY). Among them, FY24H2's revenue was HK$9.474 billion, +17.5% YoY; net profit to mother was HK$1,166 million, +41.8% YoY. Dividends and Buybacks: Based on May 21, 2024, FY20
[Broker Focus] Tianfeng Securities maintains Minhua Holdings (01999) “buy” rating, indicating that the functional sofa industry is still in a stage of low penetration and high growth
Jinwu Financial News | According to Tianfeng Securities Research Report, Minhua Holdings (01999) FY24 had operating income of HK$18.4 billion, +6.1% year over year, net profit to mother of HK$2.3 billion, +20.2% year-on-year. The growth rate of the Chinese market slowed, consumption downgraded clearly, and overseas market orders showed a trend of low and high back. Taken together, revenue and profit growth was steady. According to the bank, China's functional sofa industry is still in a stage of low penetration and high growth potential, and it is expected that its market share in the Chinese stock market will continue to grow in the future. Overseas market demand and order recovery are quite obvious. The company actively participated in the exhibition to expand new customers through new channels and reshape sales
Man Wah Holdings Limited (HKG:1999) Stock Rockets 32% As Investors Are Less Pessimistic Than Expected
Man Wah Holdings Limited (HKG:1999) shares have continued their recent momentum with a 32% gain in the last month alone. The last 30 days bring the annual gain to a very sharp 32%. In spite of th
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