According to the Zhongtong Finance APP, after the profit announcement, Kinetic Dev (01277) rose more than 6%, and as of the time of publication, it rose 4.12%, to HKD 1.01, with a turnover of HKD 1.4615 million.

On the news front, Kinetic Dev announced that the unaudited net profit of the group for the six months ending on June 30, 2024, (the first half of 2024) is expected to increase by no less than 80% compared to the same period last year, mainly due to the fact that the group was no longer affected by the temporary changes in underground mining environment that occurred in the first half of 2023. The group's mining efficiency has improved, resulting in a significant increase in coal production in the first half of this year compared to the same period last year.