HK Stock Market Move | TECHTRONIC IND (00669) rose nearly 3% and is expected to end its HART business before the end of the year. Citibank expects this to help improve operating profit margins.

TECHTRONIC IND (00669) rose by nearly 3%, with a 2.88% increase as of the close, reaching 94.7 Hong Kong dollars, with a trading volume of 1.78 billion Hong Kong dollars. On the news front, after the market closed on December 11th, TECHTRONIC IND announced that, in order to support TTI's consistent pursuit of profit growth, the company will voluntarily terminate its HART business by the end of 2025, but will still retain the HART brand in its product portfolio. The company reiterated that demand for Milwaukee and Ryobi, in all core verticals, remained strong throughout November, laying the foundation for the company's ongoing success in 2026, demonstrating the potential strength and resilience of the company's business. Citigroup estimates that the HART business accounts for a low single-digit percentage of TECHTRONIC IND's total sales this year. However, the bank believes that the HART business is currently operating at a loss, and discontinuing it will help the company achieve its target of a mid-term operating profit margin of over 10%. The report points out that demand for Milwaukee and Ryobi brands in all core business areas remained strong as of November, which will support business growth momentum in 2026.