Yue Yuen Ind (00551) rose more than 5% in the afternoon. As of press time, it increased 4.04% to HKD 15.46, with a turnover of HKD 55.3066 million.
According to the Zhitong Finance APP, Yue Yuen Ind (00551) rose more than 5% in the afternoon. As of press time, it increased 4.04% to HKD 15.46, with a turnover of HKD 55.3066 million.
On the news, Yue Yuen Ind. released an announcement that the company's net comprehensive operating income for the month of May 2024 was USD 717 million, an increase of 2.34% year-on-year. The net comprehensive cumulative operating income for the first five months of the company ending in May was USD 3.369 billion, a year-on-year decrease of 3.38%.
Founder Securities pointed out that the 24-year manufacturing business is expected to improve with the inventory of overseas sports brands, and the improved certainty of orders throughout the year will lead to high elasticity and recovery growth under the positive leverage of operation. Its subsidiary Baosheng business is expected to benefit from the improvement of international brand performance in the Greater China region and gradually recover. In the medium to long term, as a leading manufacturer of old sports brands, the company's strong ODM remains the core barrier, and the share of major brands is expected to gradually stabilize; the improvement trend of sports retail business is expected to continue, and operation efficiency will continue to increase.