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    RESEARCH

    CROSBY Research – Xtep (1368 HK/BUY): Solid 1H23 revenue growth, full year sales growth target 15-20% YoY

    CROSBY Research – Xtep (1368 HK/BUY): Solid 1H23 revenue growth, full year sales growth target 15-20% YoY

    24 Aug 2023 Xtep’s 1H23 revenue was up by 14.8% YoY to Rmb6,522m, mainly driven by i) 10.9% YoY growth from core brand sales to Rmb5,430m as a result of the strong orders from distributors for its signature brands and

    Crosby_research August 24, 2023 RESEARCH Read more

    CROSBY Research – Vincent Medical (1612 HK/BUY): Staging a turnaround in 1H23

    CROSBY Research – Vincent Medical (1612 HK/BUY): Staging a turnaround in 1H23

    24 Aug 2023 In 1H23, Vincent Medical’s (VM) sales increased by 28.7% YoY to HK$361.2m. GPM jumped from 13.1% to 32.9% in 1H23, representing an impressive YoY improvement of 19.8ppt. This was mainly due to the decrease in allowance for

    Crosby_research August 24, 2023 RESEARCH Read more

    CROSBY Research – Pagoda (2411 HK): Widening NPM on operational efficiency and cost savings

    CROSBY Research – Pagoda (2411 HK): Widening NPM on operational efficiency and cost savings

    22 Aug 2023 The company reported a 6.4% YoY increase in topline to Rmb6,294m in 1H23, with sales of fruits and food products up by 6.7% YoY to Rmb6,117m. The sales increase was driven by i) a 9.3% YoY increase

    Crosby_research August 22, 2023 RESEARCH Read more

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 41)

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 41)

    21 Aug 2023 Hong Kong’s population has grown 2.1% on the year to almost 7.5 million people, as arrivals from mainland China and elsewhere after the pandemic helped reverse a decline that started in 2020, as reported by Nikkei. HK

    Crosby_research August 21, 2023August 21, 2023 RESEARCH Read more

    CROSBY Research – China Lilang (1234 HK): Single digit growth in 1H23

    CROSBY Research – China Lilang (1234 HK): Single digit growth in 1H23

    18 Aug 2023 The company reported a 6.7% YoY increase in topline to Rmb1,491m in 1H23, with i) core collection slightly increased by 3.2% YoY amid higher sales throughout rate and ASP hike in 2H22, partially offset by orders reduction

    Crosby_research August 18, 2023August 18, 2023 RESEARCH Read more

    CROSBY Research – 361 Degrees (1361 HK/BUY): Promising outlook

    CROSBY Research – 361 Degrees (1361 HK/BUY): Promising outlook

    17 Aug 2023 1H23 revenue increased by 18.0% YoY to Rmb4.31bn, with core brand retail value up by low-teens/low-teens YoY and that of 361º Kids up by +20-25%/+20-25% YoY in 1Q/2Q. GPM edged up by 0.2ppt YoY to 41.7%, as

    Crosby_research August 17, 2023August 17, 2023 RESEARCH Read more

    CROSBY Research – Pentamaster (1665 HK/BUY): Steady 2Q23 revenue growth, medical devices will drive 2H23 momentum

    CROSBY Research – Pentamaster (1665 HK/BUY): Steady 2Q23 revenue growth, medical devices will drive 2H23 momentum

    16 Aug 2023 Pentamaster’s 2Q23 revenue increased 16.8% YoY from MYR151.3m in 2Q22 to MYR176.8m. Automated Test Equipment (ATE) segment revenue surged 35.0% YoY to MYR148.5m on strong demand for EV product solutions. Factory Automation Solutions (FAS) segment revenue declined

    Crosby_research August 16, 2023 RESEARCH Read more

    CROSBY Research – Greentech(1257 HK/BUY): Increasing EBITDA for its biomass segment

    CROSBY Research – Greentech(1257 HK/BUY): Increasing EBITDA for its biomass segment

    15 Aug 2023 CEG’s 1H23 revenue was down by 9% YoY to HK$3,820m, driven by a mixture of factors: 1) 43% YoY decrease in HWT business on the back of -15%/-89% YoY in operation /construction revenue; 2) 0.3% increase in

    Crosby_research August 15, 2023 RESEARCH Read more

    CROSBY Research – SIIC (807 HK): Growth driven by the new Baoshan project

    CROSBY Research – SIIC (807 HK): Growth driven by the new Baoshan project

    14 Aug 2023 SIIC’s 1H23 revenue increased by 9.0% YoY to Rmb4.02bn, mainly driven by 1) 12.1% YoY increase in operation segment including operating and maintenance income & financial income from service concession arrangements as the Baoshan Project commenced operation

    Crosby_research August 14, 2023August 14, 2023 RESEARCH Read more

    CROSBY Research – Q-Tech (1478 HK/BUY): Expect the recovery trajectory to maintain in 2H23, maintain BUY rating

    CROSBY Research – Q-Tech (1478 HK/BUY): Expect the recovery trajectory to maintain in 2H23, maintain BUY rating

    11 Aug 2023 Q-Tech reported 1H23 revenue of Rmb5,477m, which decreased 22.8% YoY. 1H23 total CCM shipment decreased 20.2% YoY to 170.0m units with ASP declined 3.8% YoY to Rmb29.4. FPM shipment stayed flat YoY in 1H23 with ASP plunged

    Crosby_research August 11, 2023August 14, 2023 RESEARCH Read more
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