Quanfeng Holdings (02285) rose more than 9% in early trading, with an increase of 4.29% as of press time, reporting HKD 20.4, with a turnover of HKD 15,029,100.
According to the Smart Finance app, Quanfeng Holdings (02285) rose more than 9% in early trading, with an increase of 4.29% as of press time, reporting HKD 20.4, with a turnover of HKD 15,029,100.
Donghai Securities pointed out that Quanfeng Holdings' overall performance has improved, with sales in January to April 2024 increasing year-on-year, especially with high double-digit growth in April. Specifically, the independent brand EGO North America performed well, and customer orders also showed a recovery trend. In the electric tool sector, both shipments and terminal retail sales increased on a year-on-year basis. The company is committed to achieving an overall growth target of about 15% to 20% for the full year of 2024. Important customer Lowe's inventory fell back; attention to independent brands represented by EGO and promotion of multi-channel operations.
Everbright Securities previously released research reports stating that looking forward to 2024, the climate conditions are relatively favorable, and the OPE summer destocking effect is expected to exceed expectations. At the same time, 2024 is also the year when California officially bans the sale of fuel-type OPE policies, and more regions are expected to join in the future. The penetration rate of lithium-based products is expected to exceed expectations. In contrast to the continuing negative growth of exports in the destocking situation in 2023, the certainty of positive growth in shipments in 2024 is higher. If the interest rate reduction cycle in the United States starts and the real estate market demand drives growth, the OPE industry is expected to usher in a new round of restocking cycle.