HK Stock Market Move | SINOLINK HOLD (01168) opens over 11% higher after profit joy, with annual shareholder profit expected to be no less than 3.5 billion Hong Kong dollars.

SINOLINK HOLD (01168) surged more than 11% after the news, reaching 11.48% as of the time of writing, at 0.233 HKD with a turnover of 567,100 HKD. On the news front, on March 11, SINOLINK HOLD issued an announcement stating that the group is expected to achieve a net profit attributable to owners of the company of not less than 3.5 billion HKD for the year ending December 31, 2024, compared to a net loss of approximately 278 million HKD for the year ending December 31, 2023. The announcement stated that the turnaround in profitability is mainly due to a one-time gain from the merger of an equity accounted investment, Rockefeller Group Asia Pacific, Inc, into a indirectly wholly-owned subsidiary of the company.