03 October 2024
CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 67)
CROSBY Research – Be Friends (1450 HK/NR): Expects a 30-40% YoY sales growth in FY24
03 Oct 2024 BFH 1H24 revenue increased by 43.8% YoY to Rmb622m, with its new media services segment up by 43.9% YoY to Rmb564m and accounted for 90.6% of 1H24 total revenue. The robust growth in sales was mainly attributed
CROSBY Research – Technology: The essential for the future service industry transformation
16 September 2024 Robotics is one of the most important advanced technology industries and it is expected to play an increasing role in the world economy. Robots are now used across vast sectors of China’s economy, including manufacturing, logistic, hospitality,
CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 66)
16 September 2024 Robotics is one of the most important advanced technology industries and it isexpected to play an increasing role in the world economy. Robots are now used acrossvast sectors of China’s economy, including manufacturing, logistic, hospitality,healthcare and construction.
CROSBY Research – Suntien (956 HK/BUY): Robust recovery in NG sales
11 Sep 2024 1H24 revenue was up by 20.8% YoY to Rmb12.1bn, mainly due to 1) 33.9% YoY increase in NG sales, which accounted for 73% of total revenue (1H23: 66%), on the back of a 42.3% YoY increase in
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 – 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 – 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 – Crosby Bi-noculars (Bi-weekly Issue 65)
02 September 2024 HK retail sales continue to decline in July
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/