HK Stock Price Fluctuated | FE HORIZON (03360) falls nearly 5%, management expects net profit margin to decrease this year, JP Morgan downgrades its earnings forecast and target price.

13:59 14/03/2024

Far East Horizon (03360) fell by nearly 5%, dropping 4.72% at the time of release to 6.05 Hong Kong dollars, with a turnover of 23.4687 million Hong Kong dollars.

FE HORIZON (03360) fell nearly 5%, as of press time, it was down 4.72% to HKD 6.05, with a turnover of HKD 23.4687 million. On the news front, FE HORIZON announced its 2023 performance yesterday, with revenue reaching RMB 37.96 billion, a year-on-year increase of 3.76%; net profit attributable to ordinary shareholders for the year was RMB 6.193 billion, a year-on-year increase of 1.04%; and a dividend of HKD 0.50 per share is planned. JP Morgan released a research report stating that the company's profit for the 2023 financial year was RMB 6.2 billion, a 1% increase, which is basically in line with expectations. Revenue momentum was weaker than expected but was offset by a decrease in credit costs. In addition, management expects a decrease in net profit margin in 2024. The bank maintains a "buy" rating, lowering profit forecasts for the 2024 and 2025 financial years by 3% and 11%, and reducing the target price from HKD 9.4 to HKD 8.9.

CSC DEVELOPMENT (00830) will distribute an interim dividend of HK$0.018 per share on October 30 this year.

361 DEGREES (01361) will distribute an interim dividend of HKD 0.222 per share on September 15.

TEDA BIOMEDICAL (08189) announces a profit alert, expecting a net profit attributable to shareholders of approximately 7 million to 10 million yuan for the interim period, marking a turnaround from loss to profit compared to the same period last year.

CSC DEVELOPMENT (00830) will distribute an interim dividend of HK$0.018 per share on October 30 this year.

361 DEGREES (01361) will distribute an interim dividend of HKD 0.222 per share on September 15.