HK Stock Price Fluctuated | SAMSONITE (01910) surged more than 4%, dropping over 5% in early trading. Last year, net profit increased by 33.3% year-on-year to 417 million U.S. dollars.

SAMSONITE (01910) rose more than 4%, falling more than 5% in the early morning trading, reaching a 4.1% increase by the time of publication, at HK$30.5, with a trading volume of HK$5.72 billion. On the news front, SAMSONITE released its performance for 2023, with group net sales of $3.682 billion, a year-on-year increase of 27.9%; and a net profit attributable to shareholders of $417 million, a year-on-year increase of 33.3%. The group plans to increase marketing investment in 2024, aiming for advertising expenses to account for about 7.0% of net sales in order to drive growth in all brand's future net sales. Citigroup's recent research report pointed out that there have been no new rumors of acquisition recently, and the current valuation is relatively low, so any related news will help release the reasonable value. They raised their target price from HK$33.5 to HK$35.5, reflecting a better profit margin outlook. Looking ahead this year, the continued growth in travel demand will boost luggage sales performance, and the company's diverse brands, product lines, sales channels, and market diversification will enhance its business capabilities, estimating a revenue growth of over 9% this year.