XXF-NEW (02473) experienced a significant surge in its stock price, soaring 5.09% during Tuesday's intraday trading session. This remarkable performance comes on the heels of several positive developments for the company, including its recent inclusion in the Hang Seng Composite Index and impressive interim financial results.
The stock's rally can be attributed to multiple factors. Firstly, Hang Seng Indexes Company announced on August 22 that XXF-NEW will be added to the Hang Seng Composite Index, effective from September 8. This inclusion is expected to increase the stock's visibility and potentially attract more institutional investors. Additionally, Huatai Securities reported that XXF-NEW may soon be eligible for the Stock Connect program, which could further boost investor interest and liquidity.
Furthermore, XXF-NEW's recently released interim results for the first half of 2025 have impressed investors. The company reported a 16.78% year-on-year increase in revenue, reaching RMB769 million, while profit attributable to shareholders grew by 14.23% to RMB22.486 million. The strong performance was primarily driven by high growth in the company's automotive direct retail business and expanded self-operated sales network. These positive financial indicators, coupled with the index inclusion news, have contributed to the stock's significant price appreciation.