19 Mar 2024 Xtep’s FY23 revenue was up by 10.9% YoY to Rmb14,346m, mainly driven by i) steady growth of 7.4% YoY from core brand Xtep to Rmb11,947m due to the robust demand of running products, and continual growth from
CROSBY Research – China Lilang (1234 HK): Expects at least 15% retail sales growth in FY24
19 Mar 2024 The company reported a 14.8% YoY increase in topline to Rmb3,544m in FY23 on the back of normalization of store operations post pandemic. Particularly, 2H23 reported a stronger growth at 21.6% YoY compared to 1H23. GPM was
CROSBY Research – Wasion Holdings (3393 HK/BUY): Strong FY23 NP growth on solid revenue growth and GPM improvement
18 Mar 2024 Following the positive profit alert issued in Feb, it is no surprise that Wasion did indeed deliver a set of spectacular set of FY23 results. Its FY23 NP surged by 61.0% YoY to Rmb521.2m on the back
CROSBY Research – Giordano (709 HK): FY23 NP rose by 29% YoY on higher GPM and operating leverage
18 Mar 2024 FY23 revenue slightly increased by 1.9% YoY to HK$3,873m, mainly supported by a 38% YoY sales increase in HK/Macau market to HK$380m on the back of the rise in tourist arrivals, while markets in Mainland China/ Taiwan/
CROSBY Research – 361 Degrees (1361 HK/BUY): Solid FY23 results with strong growth from Kids and online segments
14 Mar 2024 FY23 revenue was up 21.0% YoY to Rmb8.4bn, with core brand retail value up by low-teens/low-teens/15%/>20% YoY and that of 361º Kids up by 20-25%/low-teens/25-30%/40% YoY in 1Q/2Q/3Q/4Q. GPM was up by 0.6ppt YoY to 41.1%, with
CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 54)
11 Mar 2024 (Bloomberg) Hong Kong’s 10 biggest residential estates saw transactions rise to the highest in three years last weekend, according to Centaline Property Agency Ltd., as the market continued to benefit from recent easing steps. A total of
CROSBY Research – Concord (182 HK/BUY): Solid FY23 results
08 Mar 2024 CNE’s FY23 revenue was up by 7.8% YoY to Rmb2,589m (excluding the O&M revenue, which was disposed in November 2023). The top-line growth was mainly attributed to a 6.9% YoY increase in power sales, which accounted for
CROSBY Research – JNBY (3306 HK): Net profit increased by 55% YoY on better margins
01 Mar 2024 JNBY announced its FY1H24 interim results, with revenue increased by 26.1% YoY to Rmb2,976m mainly driven by 24.0%/ 29.7% YoY growth in “Mature” brand (JNBY) and “Younger” brands (CROQUIS, jnby by JNBY and LESS) to Rmb1,700m/ Rmb1,228m
CROSBY Research – Pentamaster International (1665 HK/BUY): Steady 4Q23 revenue growth and GPM expansion; medical devices segment remains key growth driver in FY24
01 Mar 2024 Pentamaster’s 4Q23 revenue increased 14.5% YoY from MYR147.7m in 4Q22 to MYR169.0m. Revenue from Automated Test Equipment (ATE) segment edged down 0.5% YoY to MYR93.9m on slower growth momentum from automotive industry. Revenue from Factory Automation Solutions
CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 53)
26 Feb 2024 2023 the global economic activities were sluggish. The US Federal Reserve, in an attempt to tame the inflation caused by a massive pandemic induced quantitative easing, embarked upon a rapid tightening program, raising interest rates seven times