The latest announcement is out from Nexteer Automotive Group ( (HK:1316) ).
Nexteer Automotive Group Limited reported its annual financial results for the year ending December 31, 2024, showing a significant increase in profitability. The company achieved a gross profit of $448.5 million, up from $368.6 million in 2023, with a notable rise in operating profit to $114.8 million from $61.4 million the previous year. This growth was driven by increased revenue and effective cost management, despite higher engineering and product development expenses. The results indicate a strong operational performance and positive outlook for stakeholders.
More about Nexteer Automotive Group
Nexteer Automotive Group Limited, incorporated in the Cayman Islands, operates in the automotive industry, focusing on the production of advanced steering and driveline systems. The company is listed on the Hong Kong Stock Exchange and serves a global market with its innovative automotive solutions.
YTD Price Performance: 71.22%
Average Trading Volume: 4,356
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.77B
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