The Zhitong Finance App learned that Jiangnan Buyi (03306) rose by more than 4% in the morning. As of press release, it rose 4.14% to HK$15.1, with a turnover of HK$17.7863 million.

According to the news, Jiangnan Buyi previously announced results for the six months ended December 31, 2023. The group obtained revenue of 2,976 billion yuan (RMB, same below) during the period, an increase of 26.08% over the previous year; profit attributable to shareholders of the company was 574 million yuan, an increase of 54.45% year on year; it plans to distribute an interim dividend of HK$0.46 per common share and a special interim dividend of HK$0.39 per common share.

According to the Lyon Research Report, Jiangnan Buyi's performance in the first half of fiscal year 2024 was strong. Revenue and net profit increased by 26.1% and 54.5% year-on-year respectively, and raised the 2024 revenue and net profit by more than 10% from the original forecast to a year-on-year increase of more than 15% and more than 30%. The bank still believes that the company has an opportunity to surpass the relevant targets. Maintaining a “buy” rating for the company, believing that the company's prospects are optimistic, the target price was raised from HK$12 to HK$17.