HK Stock Market Move | TUHU-W(09690) rose nearly 12% in the morning session. The company is set to release its performance on the 20th of this month, with a potential 8.5% year-on-year increase in annual revenue.

TUHU-W (09690) rose nearly 12% in early trading, up 6.45% as of press time, to HK$16.84, with a turnover of HK$47.22 million. On the news front, Tuhu plans to hold a board meeting on March 20 to approve annual performance. China Securities Co., Ltd. pointed out that it is expected that Tuhu's revenue will increase by 8.41% year-on-year to 14.745 billion yuan in 2024, with a gross profit margin of 25.1%, up by 0.4 percentage points year-on-year, and Non-IFRS net profit is expected to be 607 million yuan, a year-on-year increase of 26.2%, with a corresponding net profit margin of 4.12%, up by 0.58 percentage points year-on-year. CMSC released a research report indicating that Tuhu is expected to achieve a year-on-year revenue growth of 8.5% for the full year and achieve a Non-gaap net profit attributable to the mother of 600 million yuan. The bank stated that looking ahead to 2025, with the macroeconomic situation improving and the continuous growth strategy of users, users are expected to maintain rapid growth, while with the marginal improvement in store performance, the reduction in average order value is expected to gradually narrow. And the impact of the decrease in order volume caused by the store rectification in 2024 is expected to be eliminated year-on-year. It is expected that the revenue side will maintain steady growth.