Hongfa Technology (SHSE:600885) Second Quarter 2024 Results
Key Financial Results
- Revenue: CN¥3.78b (up 11% from 2Q 2023).
- Net income: CN¥488.4m (up 28% from 2Q 2023).
- Profit margin: 13% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue.
- EPS: CN¥0.47 (up from CN¥0.37 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hongfa Technology Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.8%.
Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in China.
Performance of the Chinese Electrical industry.
The company’s shares are up 6.9% from a week ago.
Risk Analysis
You still need to take note of risks, for example – Hongfa Technology has 1 warning sign we think you should be aware of.
Valuation is complex, but we’re here to simplify it.
Discover if Hongfa Technology might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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