The Zhitong Finance App learned that Jiuxing Holdings (01836) rose more than 5%. As of press release, it had risen 5.08% to HK$12.4, with a turnover of HK$32.654,900.

According to the news, Jiuxing Holdings announced its 2023 annual results. The group obtained revenue of US$1,493 million, a year-on-year decrease of 8.5%; parent company owners should account for profit of US$141 million, an increase of 19.52% over the previous year; and plans to pay a final dividend of HK61 cents per share.

Damo previously stated that it is still optimistic about Jiuxing's unique position to offset the difficult situation of its footwear OEM. Against this backdrop, orders from major sports brands have not recovered well. Jiuxing's entry into the luxury category helped it obtain good order support, capacity utilization, and continued profit margin expansion as a result.