1633.HK 's net profit for the fiscal year to June rose 35.4 per cent from a year earlier to HK $160.5 million, which trades at 12.7 times earnings after rising today. Midea Holdings announced a year-end dividend of HK $0.036 per share and one bonus share for every five shares.
Bank of China International said that Midea Holdings' performance was better than expected, so it raised the company's earnings forecast for fiscal year 13 by 4% and 7%. BOC Hong Kong (Holdings) Limited expects the company to achieve compound year-on-year growth of 24% and 27% in earnings and core profits for the fiscal year 2012-14. BOC International downgraded the stock from HK $5.20 to HK $4.23 in the past few months and maintained its buy rating on a price-to-earnings ratio of 18 times earnings for fiscal 2012.
Midea Holdings rose 13.8 per cent to HK $2.31.