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    Author: Crosby_research

    CROSBY Research – Hong Kong Retail: Retail sales in April down by 2.3% YoY

    CROSBY Research – Hong Kong Retail: Retail sales in April down by 2.3% YoY

    05 June 2025 According to data released by the Hong Kong Census and Statistics Department, retail sales in April 2025 declined for the 14th consecutive month, dropping by 2.3% YoY to an estimated HK$28.9bn, falling short of market expectations, which

    Crosby_research June 5, 2025 RESEARCH Read more

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 80)

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 80)

    2 Jun 2025

    Crosby_research June 2, 2025June 2, 2025 RESEARCH Read more

    CROSBY Research – SinoMab BioScience (3681 HK/ NR): An innovative immunology specialist

    CROSBY Research – SinoMab BioScience (3681 HK/ NR): An innovative immunology specialist

    2 Jun 2025 Based in Hong Kong, SinoMab is a pioneering biopharmaceutical company specializing in the research, development, manufacturing, and commercialization of therapeutics for immunological diseases, with a primary focus on monoclonal antibody (mAb)-based biologics. Since its inception, SinoMab has

    Crosby_research June 2, 2025June 2, 2025 RESEARCH Read more

    CROSBY Research – Kuaishou (1024 HK/NR): 1QFY25 revenue up 10.9% YoY

    CROSBY Research – Kuaishou (1024 HK/NR): 1QFY25 revenue up 10.9% YoY

    30 May 2025 Kuaishou’s 1QFY25 revenue was up by 10.9% YoY to Rmb32.6bn, mainly due to i) 8% YoY increase in online marketing services to Rmb18.0bn, driven by higher spending from marketing clients; ii) 14% YoY increase in live streaming

    Crosby_research May 30, 2025May 30, 2025 RESEARCH Read more

    CROSBY Research – Johnson Electric (179 HK/ NR): FY25 results showed resilience amid challenges

    CROSBY Research – Johnson Electric (179 HK/ NR): FY25 results showed resilience amid challenges

    29 May 2025 During the period under review, Johnson Electric (JE) faced mounting challenges across its key downstream markets. These difficulties stemmed from a decline in automobile production, heightened price competition in several consumer and industrial segments, and weakened consumer

    Crosby_research May 29, 2025May 29, 2025 RESEARCH Read more

    CROSBY Research – SunArt Retail (6808 HK/NR): Turnaround in FY25

    CROSBY Research – SunArt Retail (6808 HK/NR): Turnaround in FY25

    23 May 2025 SunArt’s FY25 (Mar-end) revenue was down by 1.4% YoY to Rmb71.6bn, mainly due to i) the contraction of supply chain business and store closures which accounted for 1.4% decline in sales; and ii) closures on loss making

    Crosby_research May 23, 2025May 23, 2025 RESEARCH Read more

    CROSBY Research – Man Wah (1999 HK/NR): FY25 adj. NP increased by 1.3% YoY on higher GPM

    CROSBY Research – Man Wah (1999 HK/NR): FY25 adj. NP increased by 1.3% YoY on higher GPM

    20 May 2025 Man Wah reported its Mar ended FY25 results with top line declined by 8.2% YoY to HK$17.2bn. GPM increased by 1.1ppt YoY to 40.5%. The improvement in overall GPM was mainly attributed to the declining RM prices,

    Crosby_research May 20, 2025May 20, 2025 RESEARCH Read more

    CROSBY Research – Haier (6690 HK/NR): 1QFY25 adjusted NP up 15.6% YoY

    CROSBY Research – Haier (6690 HK/NR): 1QFY25 adjusted NP up 15.6% YoY

    09 May 2025 Haier announced its 1QFY25 quarterly results, with operating revenue increased by 10.1% YoY to Rmb79.12bn GPM for the quarter was up by 0.1ppt YoY to 25.4%, with the increase driven by further digitalization from manufacturing to sales,

    Crosby_research May 9, 2025May 9, 2025 RESEARCH Read more

    CROSBY Research – Wasion Holdings (3393 HK/ BUY): Expanding global manufacturing facilities’ footprint

    CROSBY Research – Wasion Holdings (3393 HK/ BUY): Expanding global manufacturing facilities’ footprint

    2 May 2025 Wasion announced that both Indonesian and Malaysian facilities have commenced operation in April 2025.

    Crosby_research May 2, 2025May 2, 2025 RESEARCH Read more

    CROSBY Research – Xtep (1368 HK/BUY): New brands continue to enjoy high YoY growth

    CROSBY Research – Xtep (1368 HK/BUY): New brands continue to enjoy high YoY growth

    29 Apr 2025 Xtep announced its 1Q25 operational results, with retail sales for its Xtep Core Brand recorded a MSD growth YoY, slowing down from HSD/HSD growth in 4Q24/1Q24. While offline sales recorded LSD YoY growth amid less foot traffic,

    Crosby_research April 29, 2025 RESEARCH Read more
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