HK Stock Market Move | CHANJET (01588) rose more than 18% after a profitable increase. It is expected that the profit attributable to the parent company's owner will increase by 95%-127% compared to 2024.

CHANJET (01588) soared by over 18% after announcing a profit increase. As of the press release, it rose by 18.3% to HKD 6.53, with a turnover of HKD 974,900. On the news front, CHANJET announced that it expects the group to achieve a profit attributable to owners of the parent company of approximately RMB 31-36 million in 2024, representing a year-on-year growth of 95% to 127%. Revenue is expected to increase by 19% to 21% compared to the previous year, with cloud subscription revenue expected to grow by 33% to 35%. The proportion of cloud subscription revenue to total revenue is expected to be no less than 67%. After deducting two non-operating factors, the profit attributable to the owners of the parent company of the group for the reporting period is expected to be approximately RMB 29 to 36 million, a significant improvement from a loss of RMB 64.68 million in the previous year. This improvement is mainly due to the group's commitment to the long-term strategy of prioritizing cloud service and subscription, the continuous expansion of the paid enterprise user base driving rapid revenue growth, and the group's promotion of business scaling and efficiency, leading to an increase in gross profit margin, a decrease in labor costs compared to the previous year.