Chongqing Machinery & Electric (HKG:2722) expects a 40% to 45% increase in its profit attributable to the shareholders for 2024 compared with 2023, a Tuesday Hong Kong bourse filing said.

The clean energy equipment company attributed the expected increase to the rise in its investment income resulting from its new production line under the high-power engine business, an increase in market share in key business areas such as industrial pumps, along with cost reduction and operational efficiency.