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    Author: Crosby_research

    CROSBY Research – Pentamaster International (1665 HK/ BUY): Auto segment weak while medical devices thrived

    CROSBY Research – Pentamaster International (1665 HK/ BUY): Auto segment weak while medical devices thrived

    5 September 2024 Despite operating in challenging market conditions in 1H24, Pentamaster managed to maintain its 1H24 at MYR342.1m, which stood at the same level as 1H23. GPM eased down by 0.8ppt to 28.6% in 1H24, mainly due to 1)

    Crosby_research September 5, 2024September 5, 2024 RESEARCH Read more

    CROSBY Research – Xiabuxiabu Catering (520 HK/NEUTRAL): Challenging environment in 1H24

    CROSBY Research – Xiabuxiabu Catering (520 HK/NEUTRAL): Challenging environment in 1H24

    03 Sep2024 Xiabu’s 1H24 revenue was down by 15.9% YoY to Rmb2,395m, mainly driven by i) a net close of 26 restaurants during the period to a total of 1,072 by end-1H24; and ii) intensified competition and consumption downgrade. Revenue

    Crosby_research September 3, 2024September 3, 2024 RESEARCH Read more

    CROSBY Research – China Lesso (2128 HK/ BUY): New businesses encountered headwinds in 1H24

    CROSBY Research – China Lesso (2128 HK/ BUY): New businesses encountered headwinds in 1H24

    02 September 2024 Operating against the backdrop of volatile market environment and subdued property sector in China, China Lesso’s turnover was down by 11.3% YoY to Rmb13.6bn, while net profit decreased by 30.2% YoY to Rmb1.0bn in 1H24. The drop

    Crosby_research September 2, 2024 RESEARCH Read more

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 65)

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 65)

    02 September 2024 HK retail sales continue to decline in July

    Crosby_research September 2, 2024September 2, 2024 RESEARCH Read more

    CROSBY Research – Wasion Holdings (3393 HK/ BUY): A solid set of 1H24 results with strong overseas sales

    CROSBY Research – Wasion Holdings (3393 HK/ BUY): A solid set of 1H24 results with strong overseas sales

    29 August 2024 Wasion’s 1H24 turnover increased by 16.0% YoY to Rmb3.7bn while NP increased by 54.8% YoY to Rmb331.0m. In 1H24, sales of Wasion’s power AMI/ communication and fluid (C&F) AMI/ ADO, all recorded growth of 28.0%/17.5%/2.4% to Rmb1.5bn/

    Crosby_research August 29, 2024August 29, 2024 RESEARCH Read more

    CROSBY Research – Anta Sports (2020 HK/BUY): Continual GPM expansion

    CROSBY Research – Anta Sports (2020 HK/BUY): Continual GPM expansion

    29 Aug 2024 Anta’s 1H24 revenue was up by 13.8% YoY to Rmb33.74bn, mainly driven by i) 13.5% YoY growth from core brand sales to Rmb14.2bn as a result online growth, product enhancement and restocking by distributors; ii) 6.8% YoY

    Crosby_research August 29, 2024August 29, 2024 RESEARCH Read more

    CROSBY Research – Canvest Environmental (1381 HK/NEUTRAL): Stable growth in WTE segment

    CROSBY Research – Canvest Environmental (1381 HK/NEUTRAL): Stable growth in WTE segment

    27 Aug 2024 1H24 revenue down by 29% YoY to HK$2.13bn, mainly due to i) no construction revenue recorded during the period compared to HK$997m in 1H23, as there were no new projects; ii) revenue from power sales and waste

    Crosby_research August 27, 2024August 27, 2024 RESEARCH Read more

    CROSBY Research – Concord New Energy (182 HK/BUY): Utilization hours declined YoY in 1H24

    CROSBY Research – Concord New Energy (182 HK/BUY): Utilization hours declined YoY in 1H24

    26 Aug 2024 CNE’s 1H24 revenue was up by 31.7% YoY to Rmb1,753m, mainly due to a 14.1% YoY increase in power sales, which accounted for 77.8% of total revenue (1H23: 80.2%), and also a 187% YoY increase in other

    Crosby_research August 26, 2024 RESEARCH Read more

    CROSBY Research – Xin Point Holdings (1571 HK/ NR): Margin improved with healthy backlog

    CROSBY Research – Xin Point Holdings (1571 HK/ NR): Margin improved with healthy backlog

    23 August 2024 Listed on HKEX in 2017, Xin Point- a leading automotive plastic electroplated components supplier in China announced its 1H24 with revenue increased by 8.6% YoY to Rmb1.6bn. The company continued to record an improved in GPM to

    Crosby_research August 23, 2024August 23, 2024 RESEARCH Read more

    CROSBY Research – Xtep International (1368 HK/BUY): Expects margins improvement in 2H24

    CROSBY Research – Xtep International (1368 HK/BUY): Expects margins improvement in 2H24

    23 Aug 2024 Xtep’s 1H24 revenue was up by 10.4% YoY to Rmb7,203m, mainly driven by i) 6.6% YoY growth from core brand sales to Rmb5,789m as a result of the strong orders from online channels; and ii) 9.7%/72.2% YoY

    Crosby_research August 23, 2024 RESEARCH Read more
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