HK Stock Market Move | ACME INTL HLDGS (01870) rebounds by over 14% in the final trading session after Wednesday's stock price plummet, releasing results for the year with a year-on-year decline of 73% in net profit.

ACME INTL HLDGS (01870) plunged on Wednesday, closing down by 89% on that day. The stock rebounded more than 14% in the final trading session today, rising by 9.46% to 0.162 Hong Kong dollars, with a trading volume of 19.7073 million Hong Kong dollars as of the time of writing. On the news front, ACME INTL HLDGS issued a profit warning, forecasting that its net profit for the year 2024 will not exceed 5 million Hong Kong dollars, a decrease of approximately 73% from 18.6 million Hong Kong dollars in 2023. The decline in net profit is mainly due to the challenging market environment in the Hong Kong construction industry, which has led to a significant decrease in the number of change orders and profit margins received by the permanent suspension business segment, resulting in the segment's surplus decreasing from approximately 38 million Hong Kong dollars in the 2023 financial year to not exceeding 19 million Hong Kong dollars. It is reported that in November last year, ACME INTL HLDGS announced that its subsidiary, Shanxi Hehui Energy Technology Co., Ltd., recently obtained a market electricity sales license from the Shanxi Power Trading Center. Guo Zheng International previously pointed out that as the company accelerates its green energy business, including domestic electricity market sales, overseas new energy markets, and Southeast Asia renewable energy business, the green energy business is expected to develop rapidly and become a driving force for the company's future performance growth. Investors are advised to pay attention to the opportunities for the development of the company's green energy business.