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    RESEARCH

    CROSBY Research – YesAsia (2209 HK): Riding on the growing K-Beauty popularity

    CROSBY Research – YesAsia (2209 HK): Riding on the growing K-Beauty popularity

    09 Apr 2024 YesAsia’s FY23 revenue increased by 56.6% YoY to US$201m, driven by i) a significant increase in E-commerce platform customers from 1.02m in FY22 to 1.45m in FY23; and ii) average order size up from US$77.0 in FY22

    Crosby_research April 9, 2024 RESEARCH Read more

    CROSBY Research – EVA Holdings (838 HK): Auto equipment drove FY23 growth

    CROSBY Research – EVA Holdings (838 HK): Auto equipment drove FY23 growth

    08 Apr 2024 Facing the on-going uncertain international market, geopolitical condition and interest rate hikes which significantly dampened downstream customers’ consumption desire, EVA Precision’s (EVAP) FY23 turnover decreased marginally by 1.4% YoY to HK$6.2bn. FY23 NP, however went up by

    Crosby_research April 8, 2024 RESEARCH Read more

    CROSBY Research – China Lesso (2128 HK/BUY): New business venture to foster future growth

    CROSBY Research – China Lesso (2128 HK/BUY): New business venture to foster future growth

    05 Apr 2024 2023 was a recovery year for China Lesso from the pandemic outbreak against the backdrop of interest rate hikes, decreased investment and the ongoing geopolitical conflicts in 2023. The company still managed to register a marginal increase

    Crosby_research April 5, 2024April 5, 2024 RESEARCH Read more

    CROSBY Research – Xiabuxiabu (520 HK/BUY): FY23 net loss narrowed on higher revenue and GPM

    CROSBY Research – Xiabuxiabu (520 HK/BUY): FY23 net loss narrowed on higher revenue and GPM

    05 Apr 2024 Xiabu’s FY23 revenue was up by 25.3% YoY to Rmb5,918m, mainly driven by i) a net open of 72 restaurants to a total of 1,098 by end-FY23; and ii) higher traffic per store. Revenue from its main

    Crosby_research April 5, 2024April 5, 2024 RESEARCH Read more

    CROSBY Research – China Suntien Green Energy (956 HK/BUY): Increasing capex in FY24

    CROSBY Research – China Suntien Green Energy (956 HK/BUY): Increasing capex in FY24

    02 Apr 2024 FY23 revenue was up by 9.3% YoY to Rmb20.3bn, mainly due to the 15.0% YoY growth in NG sales, which accounted for 69.2% of total revenue (FY22: 65.7%), partly offset by the 1.6% YoY decrease in sales

    Crosby_research April 2, 2024April 2, 2024 RESEARCH Read more

    CROSBY Research – Anta Sports (2020 HK/BUY): FY23 NP up by 35% YoY, better than expected

    CROSBY Research – Anta Sports (2020 HK/BUY): FY23 NP up by 35% YoY, better than expected

    28 Mar 2024 Anta’s FY23 revenue was up by 16.2% YoY to Rmb62.36bn driven by the YoY rise in Anta brand/ FILA/ Other brands by 9.3%/ 16.6%/ 57.7% to Rmb30.31bn/Rmb25.1bn/ Rmb6.95bn respectively driven by the recovery in the retail market.

    Crosby_research March 28, 2024March 28, 2024 RESEARCH Read more

    CROSBY Research – Canvest Environmental (1381 HK/BUY): Topline down 40% on fewer construction projects

    CROSBY Research – Canvest Environmental (1381 HK/BUY): Topline down 40% on fewer construction projects

    27 Mar 2024 FY23 revenue decreased by 39.6% YoY to HK$4.98bn, mainly due to 1) a 76.7% decline in construction revenue on fewer new projects; and 2) a 1.6% decline in revenue from power sales and waste treatment fees to

    Crosby_research March 27, 2024 RESEARCH Read more

    CROSBY Research – Natural Food International (1837 HK/BUY): Better than expected FY23 results

    CROSBY Research – Natural Food International (1837 HK/BUY): Better than expected FY23 results

    27 Mar 2024 NFI’s FY23 topline was up by 7% YoY to Rmb1,845m. Offline sales, which accounted for 54.2% of FY23 sales (FY22: 53.6%), recorded a 8.4% YoY increase last year on the back of i) 48.1% surge in sales

    Crosby_research March 27, 2024March 27, 2024 RESEARCH Read more

    CROSBY Research – Q-Tech (1478 HK/BUY): Revenue growth turned around and GPM bottomed out in 2H23; expect product mix improvement persist into FY24

    CROSBY Research – Q-Tech (1478 HK/BUY): Revenue growth turned around and GPM bottomed out in 2H23; expect product mix improvement persist into FY24

    27 Mar 2024 After three consecutive declines of its semi-annual revenue, Q-Tech reported a turnaround of 2H23 revenue with 5.9% growth to Rmb7,054m. 2H23 total CCM shipment decreased 3.1% YoY to 204.1m units with ASP increased 11.9% YoY to Rmb32.2

    Crosby_research March 27, 2024March 27, 2024 RESEARCH Read more

    CROSBY Research – WL Delicious (9985 HK): Expects a >15% YoY sales growth in FY24

    CROSBY Research – WL Delicious (9985 HK): Expects a >15% YoY sales growth in FY24

    25 Mar 2024 WL Delicious ‘s FY23 revenue increased by 5.2% YoY to Rmb4.87bn. Offline channels contributed Rmb4.36bn in sales, up by 5.2% YoY, with the growth mainly driven by the emerging channels such as O2O and snack specialty retailers,

    Crosby_research March 25, 2024 RESEARCH Read more
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