HK Stock Market Move | JINGCHENG MAC (00187) rose by more than 5% after Yeung Hee, expected to turn losses into profits in 2024, earning up to 7.5 million RMB.

JINGCHENG MAC (00187) soared more than 5% after announcing positive earnings, reaching a 3.52% increase as of the time of publication, with shares at 2.94 Hong Kong dollars and a trading volume of 5.594 million Hong Kong dollars. On the news front, JINGCHENG MAC announced positive earnings, forecasting a net profit attributable to shareholders of approximately 6.3 million to 7.5 million RMB in 2024, compared to a loss of 51.6751 million RMB in 2023, achieving a turnaround. The company mainly achieved this by optimizing its industrial structure, upgrading products, strengthening market development efforts, achieving overall revenue growth, and improving operational efficiency; non-recurring gains from debt restructuring had a positive impact on the current performance. The announcement stated that the expected full-year non-recurring net loss is mainly due to the fact that emerging products such as hydrogen energy are still in the nurturing stage, and it will take time for profitability to fully emerge; intensified competition in the low-temperature product market has caused a decrease in domestic market share; the company's implementation of a stock incentive plan has increased share-based payment expenses, impacting operating profit.