The Zhitong Finance App learned that Tianbao Group (01979) rose by more than 10% and rose 13.33% at press time to HK$1.19, with a turnover of HK$2.54 million.

According to the news, the company announced results for the year ended December 31, 2023. Earnings fell 12% year on year to HK$4.824 million; profit attributable to company owners increased 10.8% year over year to HK$329 million; profit per share was 31.9 HK cents; and a final dividend of 9.6 HK cents per share is proposed. According to reports, the decline in revenue was mainly due to a decrease in product sales volume due to a decline in customer demand, especially in the smart charger and controller segment. The decline for the year ended December 31, 2023 was 28.4%. However, customers responded well to the new energy business, mitigating the impact of this decline in business earnings.