Tencent Securities News (North Alley) Value Partners Group jumped higher this morning. The highest intraday increase was more than 3%, reaching a high of HK$7.91, breaking through the 30-day line. As of press release, Value Partners Group (0806.HK) rose 3% to HK$7.9, with a turnover of HK$34.2687 million.

The company announced yesterday that for the year ended 31 December 2017, the total revenue of the Group was HK$4.106 billion, an increase of 193.6% over the previous year; the net profit attributable to the company's owners was HK$2,048 million, an increase of 1389.5% over the previous year; the basic profit per share was HK$110.6 cents, the final dividend of each share was HK18 cents, the special dividend was HK86 cents per share, and the total dividend per share was HK104 cents. The sharp rise in earnings was mainly due to the fact that most funds that can charge performance fees performed well above their new high prices in 2017, which prompted a sharp increase in net performance fees compared to the same period last year.

According to a research report published by Daiwa Capital, the profit of Value Partners Group (0806.HK) surged to HK$2 billion last year, exceeding market expectations by 86%, and there is an opportunity to pay a special dividend. The expected dividend rate is 9%, raising its target price from HK$8.8 to HK$10, and its investment rating is “superior to the market.” According to the report, the Group is expected to perform fee revenue of HK$2.5 billion last year, a sharp increase from HK$11 million in 2016. The sharp rise in management fees is mainly due to the stable performance of its major funds and improved stock market performance.