HK Stock Market Move | CHINA LESSO (02128) rises over 4%; overseas sales of plastic pipes achieved steady growth in the first half of the year; the company has now established production bases in multiple countries.

CHINA LESSO (02128) rose over 4%, up 4.12% as of press time, at HK$3.285, with a turnover of HK$32.005 million. On the news front, CHINA LESSO previously disclosed its interim report. Changjiang noted that in 26H1, the company's overseas business grew 36.2%, and overseas markets are an important source of future growth for the company. It has now established production bases in Southeast Asian countries such as Indonesia, Thailand, Malaysia, Cambodia, Vietnam, and the Philippines, African countries such as Tanzania and Angola, Central Asian countries such as Uzbekistan, as well as Texas in the United States. In 26H1, the revenue contribution from the company's overseas markets rose to 8.6%. Huatai stated that in 26H1, the company made impairment provisions of RMB 51 million, an increase of RMB 16 million year-on-year. As of the end of the period, the company's book accounts receivable stood at RMB 4.15 billion, down 11.2% year-on-year, with accounts receivable effectively controlled. In 26H1, capital expenditure was RMB 1.117 billion, up 15% year-on-year, mainly used for the construction of overseas production bases and equipment purchases, as well as the development of certain investment properties. With the gradual commissioning of overseas production bases, the company's overseas sales of plastic pipes achieved steady growth in 26H1, up 18.3% year-on-year to RMB 1.39 billion, with revenue contribution rising to 6.7%. In the domestic market, the number of the company's independent exclusive first-tier distributors grew to 3,186, with distribution channels continuing to improve.