Wasion Holdings (3393.HK)

Implementation of Cost-Effective Measures Drives a 61% Surge in Net Profit

Continuing High Prosperity Cycle of Power Grid Investment Helps Steady Expansion in Domestic and Overseas Markets

During the year under review, the Group recorded a total turnover of RMB7,252 million (2022: RMB5,856 million), representing an increase of 24% YoY; gross profit was RMB2,581 million (2022: RMB1,929 million), representing a 34% increase YoY; overall gross profit margin reached at 36% (2022: 33%), registering an increase of 3 percentage points compared to last year. The gross profit margin of Power AMI, C&F AMI and ADO increased by 4.1, 3.4 and 1.2 percentage points, respectively, benefiting from increased market demand for smart products and cost-effective measures, including product and platform optimization. Basic earnings per share were RMB52.7 cents (2022: RMB32.9 cents), representing an increase of 60% YoY. The Board of Directors proposed a final dividend of HK$0.28 per share, representing an increase of 22% YoY.

Read more: https://manager.wisdomir.com/files/437/2024/0315/20240315125710_71279675_en.pdf

Meitu Inc. (1357.HK)

Focused on the Productivity and Globalization Strategy

AI-Driven Non-IFRS Net Profit Skyrocketed by 233.2% YoY to RMB368.3 Million

Photo, Video and Design Products Achieved 52.8% YoY Growth

Paying subscribers Surpassing 9.11 Million

During the Year, Meitu achieved a total revenue of approximately RMB2,695.7 million, which grew by approximately 29.3% YoY. Adjusted Net Profit attributable to Owners of the Company was approximately RMB368.3 million, representing a growth of approximately 233.2% YoY. Both growths were mainly driven by the increased core business revenue under the influence of AI. The gross profit increased by approximately 39.5% YoY to approximately RMB1,655.9 million, while the gross profit margin increased by 4.5 percentage points to approximately 61.4%. Every day, Meitu users process hundreds of millions of images and videos using our apps, and approximately 83% of these are enhanced by broad range of AI features. The revenue from photo, video and design products, primarily driven by paying subscription, achieved approximately 52.8% YoY growth to approximately RMB1,327.4 million. Revenue from advertising increased by approximately 20.5% YoY to approximately RMB758.8 million. Solutions for the beauty industry grew by 29.1% YoY to approximately RMB569.2 million.

Read more: https://www.meitu.com/en/media/411

WEILONG (9985.HK)

By taking the initiative to innovate, enriching the product matrix and accelerating the omni-channel construction

Achieved stable operating results

Proposed to declare high-payout Final and Special Dividend

WL Delicious’s overall business operations and financial performance remained stable. Revenue for the Reporting Period was 4,872 million (RMB, same as below), representing a 5.2% year-on-year (“YoY”), primarily due to an increase in the sales from the emerging channels such as O2O, snack specialty retailers and content e-commerce platforms. Diversified channels have promoted the accelerated transformation of the snack food industry. Faced with this development trend, WL Delicious has kept pace with the times, actively embraced the growth opportunities brought by emerging channels, and has continued to strengthen its omni-channel operations and expansion strategies, thereby achieving the revenue growth. Gross profit for the Reporting Period was 2,323 million, representing a 18.5% growth YoY. Gross profit margin increased 5.4 percentage points to 47.7%, mainly due to (i) the Group’s structural adjustment of main products in 2022; (ii) a decrease in the price of raw materials during the Reporting Period; and (iii) the optimization of the Group’s cost management by optimising production process flow continuously. Net profit for the Reporting Period was 880 million, representing a 481.9% increase YoY. Adjusted net profit grew 6.3% YoY to 970 million, and adjusted net profit margin increased from 19.7% in 2022 to 19.9% during the Reporting Period, primarily due to the increase of gross profit.

Read more: https://www.weilongshipin.com/en/Uploads/file/20240401/05e69a2ebcc2ef7efa676829e9bd665b.pdf

SF Intra-city (9699.HK)

SF Intra-city Realised Profitability in 2023, Demonstrating High-Quality and Healthy Growth

Net Profit from Continuing Operations Reached RMB 64.9 Million

Multi-scenario Business Model Driving

Business Integration and Healthy Operation

During the Reporting Period, the Group achieved satisfactory annual result. SF Intra-city’s revenue from continuing operations experienced steady growth, increasing by 21.1% to RMB 12,387.4 million, and the total order volume increased by over 30% year-on-year; gross profit recorded a strong year-on-year growth of 93.5% reaching as high as RMB 794.7 million; gross profit margin substantially increased by 2.4 percentage points to 6.4%. The Group’s net profit from the continuing operations was RMB64.9 million, and net profit margin substantially improved to 0.5% year-on-year. SF Intra-city recorded net cash generated from operating activities of RMB266.3 million for the year of 2023. As of December 31, 2023, the Group’s cash and cash equivalents and short-term financial investments were RMB 1,901.7 million and RMB 516.8 million, respectively, indicating a healthy cash flow and strong capital position.

Read more: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0326/2024032600417.pdf

CIMC Enric (3899.HK)

CIMC Enric Achieved Historical High of Revenue and Profit in 2023   

Dividend Payout Ratio Further Increased to 50% 

Clean Energy Benefitted from Global Development of Green Shipping and Growth in Natural Gas Consumption

Driving Strong Demand for LNG On-vehicle Cylinders and LNG Bunkering Vessels

In 2023, the Group’s revenue increased by 20.5% to RMB23.63 billion. Gross profit increased by 9.4% to RMB3.72 billion, with a gross profit margin of 15.7%. Profit attributable to shareholders increased by 5.6% to RMB1.11 billion, and basic earnings per share was RMB0.554. As of 31 December 2023, the Group’s accumulated new orders amounted to RMB26.64 billion, representing YoY growth of 31.5%, with backlog orders surging by 29.8% to RMB22.85 billion. Additionally, the Group’s ESG performance has been recognised by authoritative institutions, with a two-level upgrade in MSCI ESG rating to AA grade and an upgrade to AA in Wind ESG rating, both of which ranked the Group as the top performer in the domestic industry.

Read more: https://doc.irasia.com/listco/hk/enric/cpresent/pre240325.pdf

Kingworld Medicine (1110.HK)

Led by the remarkable growth in sales of Nin Jiom Pei Pa Koa and other imported medical healthcare products

Annual profit attributable to owners surged by 67.5%

Proposed Final Dividend of HK$0.0338 per share

During the Reviewing Year, the Group recorded a revenue of RMB 1,078,659,000, representing a significant increase of 12.6% compared to the RMB 957,701,000 reported in 2022. The gross profit for the Reviewing Year was approximately RMB 280,665,000, up by about 1.1% from RMB 277,627,000 in 2022. However, the gross profit margin decreased from 29.0% last year to 26.0% in the Reviewing Year, primarily due to a reduction in sales of high-margin products, namely medical equipment produced by Dong Di Xin, including the infrared thermometers, which constituted a smaller portion of total revenue. The heightened demand for such epidemic prevention products was more pronounced in the period leading up to the end of 2022. The annual profit attributable to owners of the Company surged by a significant 67.5%, from RMB 22,741,000 in 2022 to RMB 38,096,000 in the Reviewing Year. The increase in profit for the year attributable to owners of the Company was mainly due to the increase in profit for the year.

Read more: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0326/2024032601997.pdf