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Orient Securities Co., Ltd. 2024 interim performance report announcement.
DFZQ Records 11% Higher Profit in H1 2024
DFZQ: ANNOUNCEMENT ON PRELIMINARY FINANCIAL DATA FOR THE FIRSTHALF OF 2024
Express News | Orient Securities Prelim H1 Net Profit up 11.1% Y/Y
Orient (600958.SH): Net income in the first half of the year was 2.111 billion yuan, a year-on-year increase of 11.05%.
On July 26, Gelunhui reported that Orient (600958.SH) released its semi-annual performance report. The company's revenue in the first half of 2024 was RMB 8.571 billion, a decrease of 1.43% from the same period last year. Net income attributable to shareholders of listed companies was RMB 2.111 billion, an increase of 11.05% from the same period last year. The main reasons for the performance change are the year-on-year growth of fixed-income investment performance and the year-on-year decrease of business, management costs, and credit impairment losses. As of June 2024, the company's total assets were RMB 367.029 billion, a 4.3% decrease from last year's end.
Orient Securities: Maintains a "buy" rating for Bosideng with a target price of HKD6.03.
Orient Securities released a research report maintaining a "buy" rating on Bosideng (03998). According to the FY24 financial report, the profit forecast for the next three years has been adjusted (revised upwards for revenue and sales expenses, and revised downwards for gross margin), with forecasted EPS of 0.28, 0.33, and 0.38 yuan for FY24-26 respectively (original 0.27, 0.31, and 0.36 yuan), with a target price of 6.03 Hong Kong dollars. The report stated that the gross margin of the company in the FY24 fiscal year increased by 0.1 percentage points year on year to 59.6%, while the gross margin of the brand's down jackets decreased by 1.2 percentage points to 65%. We determine that this is mainly due to channels and.
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