HK Stock Market Move | TECHTRONIC IND(00669) falls more than 3% again, the company's profit potential continues to improve. Tariff issues still hinder stock price sentiment.

TECHTRONIC IND (00669) fell more than 3% again, down 3.22% to HK$102.1 as of the time of writing, with a turnover of HK$953 million. On the news front, TECHTRONIC IND announced its annual results for the year ending December 31, 2024, with the group achieving a turnover of US$14.622 billion, an increase of 6.5% year-on-year; the net profit attributable to shareholders was US$1.122 billion, an increase of 14.9% year-on-year, and the proposed dividend is US$0.2909 per share. Looking ahead to 2025, the company is confident of achieving mid-to-high single-digit sales growth overall, while also focusing on improving weaker areas of the business. Morgan Stanley believes that TECHTRONIC IND's net income in the second half of last year increased by 14% year-on-year, roughly in line with the bank's and market expectations. The gross profit margin in the second half of the year reached 40.7%, a record high and above expectations. However, the operating expense ratio for the period was 32%, higher than forecast. In addition, the group's profit margin for the period was 8.7%, an increase of 0.4 percentage points year-on-year, in line with expectations. Citi stated that TECHTRONIC IND achieved a record high turnover last year, basically in line with market consensus and the bank's forecasts. However, tariff issues continue to weigh on the stock price sentiment until President Trump implements reciprocal tariffs on ASEAN countries.