China Foods (HKG:00506) saw its stock price soar by 5.12% during Thursday's trading session, following the release of its Full Year 2024 financial results. The company's performance exceeded analyst expectations, particularly in terms of revenue.

According to the report, China Foods generated revenue of CN¥21.5 billion for the full year 2024, which was flat compared to the previous year but surpassed analyst estimates by 2.8%. The company's net income increased by 3.4% to CN¥860.5 million, while its profit margin slightly improved from 3.9% to 4.0%. Earnings per share (EPS) also saw a modest increase from CN¥0.30 to CN¥0.31.

Investors appear to have responded positively to China Foods' ability to beat revenue expectations in a challenging market environment. The company's stable performance and slight improvements in profitability metrics likely contributed to the stock's significant uptick. Additionally, with revenue forecasted to grow at an average of 4.0% per annum over the next three years, market participants may be optimistic about the company's future prospects in the competitive Hong Kong Beverage industry.