HK Stock Market Move | TIME INTERCON (01729) surged more than 6% in early trading. The company has changed its fiscal year-end date and is expecting a maximum increase of 65% in annual net profit.

TIME INTERCON (01729) rose more than 6% in the morning session, as of the time of writing, it was up 5.94% to HK$5.17, with a trading volume of HK$16.2397 million. On the news front, TIME INTERCON announced that it expects the group's annual net profit for the year ending December 31, 2024 to increase by approximately 50% to 65% compared to the previous fiscal year ending December 31, 2023. The announcement stated that the growth is mainly due to the fact that the current fiscal year covers a longer period than the nine months recorded in the previous fiscal year, following a change in the fiscal year-end date; and an increase in revenue from the medical equipment and data center business of the wire components division and the specialty wire business of the digital wire division, with all three market divisions showing improved profit margins.