HK Stock Market Move | KWAN YONG (09998) rose nearly 22% in late trading, expecting annual net profit attributable to shareholders to increase year-on-year to approximately S$19.8 million.

KWAN YONG (09998) rose nearly 22% in late trading, up 18.18% as of press time, at HK$0.52, with a turnover of HK$3.1038 million. On the news front, on September 14, KWAN YONG issued an announcement that the Group expects to record a net profit attributable to owners of the Company of approximately S$19.8 million for the year ending June 30, 2026, compared with a net profit attributable to owners of the Company of approximately S$12.8 million for the year ended June 30, 2025. Based on currently available information, the Board believes that the expected increase in net profit attributable to owners of the Company for the year ending June 30, 2026 is primarily due to improved cost efficiency of ongoing construction projects during the year, despite cost pressures arising from global oil price fluctuations. Such improvement was mainly achieved through effective cost control and procurement measures adopted by the Group, including more rigorous site-level cost monitoring, thereby mitigating the adverse impact of rising input costs on the Group's ongoing projects.