Summary by Futu AI
HAI FENG INTERNATIONAL HOLDINGS LIMITED (SITC) HAS ANNOUNCED UNAUDITED QUARTERLY OPERATING DATA FOR THE FIRST QUARTER ENDED MARCH 31, 2024. The report showed that the company's revenue fell about 10% from the same period last year to $548.9 million from $609.6 million, mainly affected by a drop in average freight rates. However, container shipments increased from 693,283 standard boxes to 745,048 standard boxes from the same period last year, an increase of approximately 7.5%. AVERAGE SHIPPING ALSO SLIPPED, DROPPING BY 17.4% FROM $722.4 PER STANDARD BOX IN THE SAME PERIOD LAST YEAR TO $596.7. The company emphasizes that these data are based on preliminary internal data, are unaudited and are subject to change. Investors should exercise caution when buying and selling company securities and should not rely too much on these preliminary data. The Board of Directors of Hai Fung International issued this announcement on April 26, 2024.