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.

ZTO EXPRESS-W (02057) spent $877,200 to repurchase 46,200 shares on November 20th.

HK Stock Market Move | INSPUR DIGI ENT (00596) is currently down more than 9%. The company recently conducted a lightning placement at a discount to introduce long-term capital, which is beneficial in the long run.

Do not fear the sharp drop in stock prices! Bank of America is bullish on SanDisk (SNDK.US) and sees the opportunity in the shortage of storage chips.

ZTO EXPRESS-W (02057) spent $877,200 to repurchase 46,200 shares on November 20th.

Do not fear the sharp drop in stock prices! Bank of America is bullish on SanDisk (SNDK.US) and sees the opportunity in the shortage of storage chips.