HK Stock Market Move | CHI BAIDAO (02555) opened more than 7% higher after the announcement of profit growth. It is expected that the adjusted net profit for the full year will increase by 22.79%-32.09% year-on-year.

CHABAIDAO (02555) opened more than 7% higher after the positive earnings report, and as of the time of writing, is up 7.66% at HK$5.9, with a trading volume of HK$1.2331 million. On the news front, CHABAIDAO released a positive earnings announcement, expecting adjusted net profit to be between 792 million and 852 million RMB, a year-on-year growth of 22.79% to 32.09%; and net profit to be between 780 million and 840 million RMB, a year-on-year growth of 62.50% to 75.00%. The increase in profits is attributed to the optimization of store network, product development and innovation, and improvement in supply chain and cost management.