China Oriental’s Subsidiary HJT Projects Over 400% Profit Surge for 2024

The latest announcement is out from China Oriental Group Co ( (HK:0581) ).

China Oriental Group Company Limited has announced that its subsidiary, Qingdao Huijintong Power Equipment Co., Ltd. (HJT), expects a significant increase in net profit for the year ending December 31, 2024. The estimated net profit attributable to shareholders ranges from RMB137 million to RMB160 million, marking an impressive growth of 423% to 511% compared to the previous year. This substantial growth reflects a strong turnaround from a net loss in the prior year, indicating potential positive implications for stakeholders. However, the results are preliminary and subject to adjustments, and they only pertain to HJT, not the entire Group.

More about China Oriental Group Co

China Oriental Group Company Limited operates within the power equipment industry, focusing primarily on its subsidiary Qingdao Huijintong Power Equipment Co., Ltd. (HJT). The Group is involved in the production and sale of power equipment, with a significant market presence in China as HJT’s shares are traded on the Shanghai Stock Exchange. The company indirectly holds a substantial 40.5% stake in HJT.

YTD Price Performance: -21.76%

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $492.5M

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