Chuangke Industrial (00669) rose more than 5%. As of press release, it was up 5.05% to HK$87.3, with a turnover of HK$394 million.
The Zhitong Finance App learned that Chuangke Industrial (00669) rose by more than 5%. As of press release, it had risen 5.05% to HK$87.3, with a turnover of HK$394 million.
According to the news, data released by Home Depot on Tuesday showed that its comparable sales for the fourth fiscal quarter fell by 3.5%, and market expectations fell by 3.6%. Earnings per share for the fourth fiscal quarter were $2.82, compared with market expectations of $2.78, compared to $3.30 for the same period last year. The company expects comparable sales to drop 1% this year, and analysts had expected a 0.2% increase.
According to a research report released by Citigroup, Home Depot, the largest I&T customer, accounted for about 48% of its total sales in the first half of 2023. From 2006 to 2023, there was a correlation between I&T's revenue growth and Home Depot's rapid growth rate of about 76%. According to Home Depot's 2024 guidance, which is expected to grow 1% in 2024, the bank now assumes that I&T revenue will grow by around 7% in 2024, rather than the 9% previously assumed by the bank. At the same time, I&T is still included in the top list of Chinese industrial stocks, with a “buy” rating.