HK Stock Market Move | WAI YUEN TONG (00897) surged over 21% after the earnings announcement, expecting the mid-term profit to more than double to no less than 20 million Hong Kong dollars.

WAI YUEN TONG (00897) surged more than 21% after announcing positive earnings, reaching a gain of 21.76% at 0.235 Hong Kong dollars with a trading volume of 645,200 Hong Kong dollars. In terms of news, WAI YUEN TONG reported positive earnings, expecting a profit of no less than 20 million Hong Kong dollars for the six months ending September 30, 2024, compared to around 3.5 million Hong Kong dollars in the same period last year. This is mainly due to fair value gains from investment properties, reversal of impairment losses on properties, factories, and equipment projects, and the absence of losses from discontinued operations affecting the profit attributable to owners of the parent company.