HK Stock Market Move | LEVER STYLE (01346) opens more than 7% higher after Yongxi's earnings rise, expecting annual net profit to increase by up to $17.4 million.

LEVER STYLE (01346) opened more than 7% higher after the announcement, with the stock price increasing by 7.23% to HK$0.89, with a trading volume of HK$17.978 million. On the news front, LEVER STYLE announced that despite a trade receivables impairment loss of US$2.4 million in the first half of 2024, which resulted in a decrease of US$1.5 million in after-tax profit compared to the previous period, the group is expected to achieve an after-tax profit ranging from US$16.4 million to US$17.4 million for the year ending on December 31, 2024, compared to an after-tax profit of US$15.6 million for the year ending on December 31, 2023. The directors believe that this improvement is mainly due to the group successfully winning new customers, as well as achieving deeper penetration and organic growth with existing customers across multiple product categories.