Author: Crosby_research

11 March 2026 Impro Precision’s FY25 revenue increased by 8.7% YoY to HK$5.1bn. Its FY25 GPM was 27.5% compared to 27.1% in FY24. The marginal improvement in GPM was mainly due to the robust demand from high horsepower engine end-market,

9 Mar 2026 Wasion issued a positive profit alert, citing that the company expects its FY25 NP to grow by 42-50% YoY to Rmb1.0bn-Rmb1.1bn. Such increase is mainly driven by revenue growth and improvement in GPM. The company is set

06 Mar 2026 UPC’s FY2025 revenue reached Rmb31.71bn, up 4.6% YoY, primarily driven by growth in the first half of the year. However, 2H revenue contracted by 1.7% YoY, reflecting broader market challenges including economic slowdowns and heightened competition in

3 Mar 2026 Newly debuted on HKEX in Jan this year, MiniMax announced its first FY25 results. The company’s turnover came in better than expected, amounting to USD79.0m and representing a YoY increase of 158.9%. This growth was driven by

24 Feb 2026 CNE announced profit warning for its FY25 results. FY25 NP is expected to decline by over 80% YoY to Rmb160m or less, compared to a NP of around Rmb800m in FY24. Despite the decrease in profit, the

10 Feb 2026 Yum China is China’s largest restaurant operator with >18,100 stores across >2,500 cities at end‑2025, operating KFC (QSR), Pizza Hut (casual), and other concepts including Taco Bell, Lavazza (JV), Little Sheep and Huang Ji Huang. Its digital

9 Feb 2026 Tongda just issued a positive profit alert, citing that the company anticipates a FY25 NP of HK$115m to HK$125m, marking a significant turnaround from the loss of HK$3.9bn recorded in FY24.

30 Jan 2026 Xtep announced its 4Q25 operational results, with retail sales for its Xtep Core Brand recorded a flat growth YoY, as compared with LSD/LSD growth in 3Q25/2Q25. Breaking down by month, sales in Oct/Nov were better than Dec,

26 Jan 2026 JE delivered stable top-line performance in 3Q26 (Yr ended Mar), with turnover standing at USD2.7bn, consistent with prior year.

22 Jan 2026 Anta announced its 4Q25 operational results, with retail sales for its Anta Core Brand recorded a LSD decline YoY (3Q25: +LSD, 2Q25: +LSD). The main reasons for 4Q YoY sales decline was due to i) warmer weather;