HK Stock Market Move | JNBY (03306) rose nearly 5% in early trading, the company has ample cash flow and a high dividend payout ratio. Recently included in the Hong Kong Stock Connect list.

In the early morning trading session, JNBY (03306) rose nearly 5%, and as of the time of writing, it had increased by 4.05%, reaching 14.38 Hong Kong dollars, with a turnover of 2136.63 million Hong Kong dollars. On the news front, JNBY previously announced its annual performance, with a full-year revenue of 5.238 billion yuan, a year-on-year increase of 17.3%; the company's shareholders' net profit was about 849 million yuan, a year-on-year growth of 36.66%. Guosen pointed out that the company's performance has long maintained a fast and stable growth that surpasses the industry, with strong profitability and high quality earnings, ample cash flow, and a willingness to maintain an annual dividend payout ratio of not less than 75% over the next 3 years. The company entered the Hong Kong stock connect on September 10th. Haitong pointed out that the company plans to pay a dividend of 0.86 Hong Kong dollars per share at the end of FY24, with an annual dividend payout rate of 97% (including special dividends), and a dividend yield of 12.1%. Assuming the company maintains at least a 75% dividend payout ratio, the bank estimates that the FY25 dividend yield is expected to reach 9.8%.