Shenzhou International Group Holdings (02313.HK), a leading knitwear products maker, saw its shares soar 9.95% in intraday trading on Wednesday, marking its biggest one-day gain in nearly a year. The stock hit a one-year high, breaking a four-day losing streak and emerging as the top gainer on the Hang Seng Index.

The surge comes on the heels of Shenzhou's impressive 2024 financial results. The company reported a substantial 36.9% year-on-year jump in profit attributable to shareholders, while revenue climbed 14.8% compared to the previous year. Notably, the gross profit margin expanded by 3.8 percentage points to reach 28.1%, showcasing the company's improved operational efficiency.

Analysts have responded positively to Shenzhou's performance. Citi reiterated its "Buy" rating, citing promising growth prospects and expectations of continued gross margin expansion due to increasing economies of scale. Nomura also maintained its "Buy" recommendation, highlighting that the company's second-half 2024 revenue exceeded consensus expectations. Despite macroeconomic headwinds, Nomura noted that Shenzhou's fiscal year 2025 guidance remains resilient. The stock's strong performance today has helped to offset its year-to-date decline of 2.7%, signaling renewed investor confidence in the company's outlook.