HK Stock Market Move | ZHONG HUA INT'L (01064) surged over 160% in the morning and will announce its interim performance this Friday. It is expected to have a net profit of approximately HKD 40 million in the interim period.

ZHONG HUA INT'L (01064) soared more than 160% in the morning, with a 158.33% increase at the time of writing, trading at HK$0.155 with a trading volume of HK$5.7673 million. In terms of news, ZHONG HUA INTL is planning to hold a board meeting on August 29 to consider and approve its mid-term performance. The group expects to achieve a net profit of approximately HK$40 million (provisional figure) for the six months ending on June 30, 2025, compared to a net loss of approximately HK$31 million (unaudited figure) for the six months ending on June 30, 2024. According to the announcement, the turnaround from loss to profit is mainly due to an estimated fair value gain of approximately HK$40 million (provisional figure) on an entity's equity acquired during this period after a preliminary valuation by an independent professional property valuer, compared to a loss of approximately HK$28 million (unaudited figure) in the previous period. This gain is attributed to the appreciation of the Renminbi during the period of reassessment. The fair value gain is a non-cash transaction and is recognized as unrealized income in the group's comprehensive income statement.