Prinx Chengshan Holdings Limited (HK:1809) has released an update.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Prinx Chengshan Holdings Limited has issued a positive profit alert, forecasting a substantial increase in profit for the first half of 2024, with a range of RMB752 million to RMB850 million, marking an approximate 130% to 160% jump from the previous year. This growth is attributed to a surge in production and sales within the domestic auto industry, increased demand in the overseas tire market, and a refund of anti-dumping duties. Additionally, the company has seen a notable improvement in gross profit margins due to technological innovation, product optimization, and a significant rise in tire sales volume.
For further insights into HK:1809 stock, check out TipRanks’ Stock Analysis page.