Hong Kong Stocks Movement | CHOW SANG SANG (00116) Surges Over 11% Ahead of Interim Results on Wednesday, Expected Net Profit from Continuing Operations to Exceed HK$900 Million in First Half
Stock News
Aug 25
CHOW SANG SANG (00116) surged over 11%, with the stock price climbing more than 40% over the past four trading days. As of press time, the stock was up 11.68% to HK$13.1, with a turnover of HK$115 million.
On the news front, CHOW SANG SANG plans to hold a board meeting on August 27 (this Wednesday) to approve its interim results. The company previously announced that it expects profit attributable to owners from continuing operations for the first half of the year to reach between HK$900 million and HK$920 million, compared to HK$502 million in the same period last year.
During the period, continuous rises in gold prices enabled higher gross margins on gold product sales. The integration of the retail network and other cost control measures that reduced costs also contributed to profit growth.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.