Hong Kong Stocks Movement | CIRRUS (02507) Rises Over 5% on Better-Than-Expected H1 Profit, Analysts Expect Continued Profitability Improvement

Stock News
Sep 03

CIRRUS (02507) surged over 5%, rising 5.33% to HK$54.35 with trading volume reaching HK$162 million as of press time.

On the news front, CIRRUS achieved revenue of US$594 million in the first half of this year, up 25.1% year-on-year; gross profit reached US$215 million, up 31.5% year-on-year; and net profit hit US$64.966 million, surging 82.5% year-on-year.

Securities analysts noted that the company's first-half profit exceeded expectations. With the continued emergence of scale effects and the increased proportion of high-margin services, profitability is expected to continue rising.

It's worth noting that Hang Seng Indexes Company previously announced quarterly review results showing that CIRRUS will be removed from the Hang Seng Composite Index. All changes will be implemented after market close on September 5 and take effect from September 8.

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