According to the Zhitong Financial APP, Stella Holdings (01836) fell more than 5%. As of press time, it fell 5.22% to HKD 13.08, with a turnover of HKD 21.2145 million.

On the news side, Stella Holdings announced that for the three months ended June 30, 2024, the unaudited comprehensive income of the group was USD 431.6 million (USD 431.4 million for the same period in 2023). For the six months ended June 30, 2024, the unaudited comprehensive income of the group increased by approximately 7.5% to USD 770 million (USD 716 million for the same period in 2023). For the three and six months ended June 30, 2024, shipments increased by about 5.7% and 12.3% year-on-year, respectively, mainly driven by the sports product category. During these two periods, the average selling price decreased due to the higher proportion of sports product orders with lower average selling prices.

In addition, the Group expects to achieve a net income of not less than USD 90 million for the six months ended June 30, 2024, compared to a net income of approximately USD 55.2 million for the six months ended June 30, 2023. The increase in net income for the six months ended June 30, 2024 is mainly due to a 12.3% increase in shipments (benefiting from an increase in sports product orders and early shipment to some customers compared to their original shipment schedule), optimization of customer portfolio, and improvement in operating leverage due to the improvement of production capacity utilization of sports category production facilities.