The stock price of Sky-Drones (02479) rose by more than 11%, with a cumulative increase of over 36% in the last two trading days. The price successfully recovered and exceeded the offering price to as high as 84.4 Hong Kong dollars during the trading hours.
According to the news from the WiseNews App, the stock price of Sky-Drones (02479) continued to rise by over 11%, with a cumulative increase of over 36% in the last two trading days. The stock experienced a plunge at the end of last Friday, with a drop of 28% and broke the offering price on the first day of listing. As of the time of writing, the price has increased by 11.33%, to HKD 83.5 with a turnover of HKD 12.0454 million.
It is reported that Sky-Drones focuses on providing customers with standardized API services and customized data governance solutions. According to the Frost Sullivan report, the company is China's largest comprehensive API data circulation service provider in 2022 by revenue, with a market share of 6.1%. The company's customers include well-known enterprises such as Tencent, Alibaba, as well as many other internet companies, application developers, and individuals.
In terms of performance, according to its prospectus, Sky-Drones' revenue for 2021 to 2023 is projected to be RMB 260 million, RMB 329 million and RMB 441 million respectively, with a gross margin of 34.6%, 32.7%, and 28.3% respectively and a net margin of 17.7%, 12.6%, and 7.9% respectively. The substantial decline in gross margin and net margin is mainly due to intensified market competition, leading to a decrease in prices and increased outsourcing expenses for research and development.