Shares of Lianlian DigiTech (HKG:2598) are soaring 11.46% in intraday trading following the release of the company's full-year 2024 financial results, which showed significant improvement and beat analyst expectations.
The technology company reported a 28% year-over-year increase in revenue, reaching CN¥1.31 billion for the fiscal year 2024. More importantly, Lianlian DigiTech substantially narrowed its net loss to CN¥168.2 million, a 74% improvement compared to the previous year. The company's loss per share decreased to CN¥0.16, outperforming analyst estimates by 62%.
Investors are responding positively to these results, particularly the better-than-expected earnings per share. The market also seems encouraged by the company's growth prospects, with revenue forecast to grow at an average of 17% per annum over the next three years, outpacing the 12% growth forecast for the Hong Kong Diversified Financial industry. This robust performance and optimistic outlook are driving the significant uptick in Lianlian's stock price today.
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