HK Stock Market Move | CALB (03931) surged more than 4% in opening, with an expected net profit of around 7.86 billion to 8.74 billion yuan in 2024, representing a year-on-year increase of approximately 80% to 100%.

CALB (03931) opened more than 4% higher, up 4.04% to HK$17.5 as of the time of writing, with a trading volume of HK$332,500. On the news front, on February 24th, CALB announced that the group expects a net profit of about 786 million to 874 million yuan in 2024, an increase of about 80% to 100% year-on-year. The Board of Directors believes that the expected growth is mainly due to the following factors: on one hand, the scale effect continues to manifest with the expansion of the group's business and sustained growth; on the other hand, benefiting from the group's leading technology and product strength, continuous improvement in product performance while continuously reducing costs, thus achieving a year-on-year increase in profit for the reporting period.