Leoch International Technology (00842.HK) saw its stock price plummet by 5.10% in Friday's pre-market trading session, following the release of its full-year financial results on Thursday evening. The sharp decline suggests that investors may be disappointed with the company's performance or outlook, despite reporting positive figures.
According to the financial report, Leoch International Technology achieved a turnover of RMB 16,126.5 million for the fiscal year. The company reported a net income of RMB 563.5 million, with net income attributable to shareholders reaching RMB 566.4 million. The pretax profit stood at RMB 694.3 million, while gross profit amounted to RMB 2,266.8 million. Basic earnings per share (EPS) were reported at RMB 0.41.
In addition to the financial results, Leoch International Technology announced a final dividend of HK7.0 cents per share. However, the market's negative reaction indicates that these figures and the dividend announcement may have fallen short of investors' expectations. The sell-off could be attributed to concerns about the company's future growth prospects or broader market conditions affecting the industrial sector. Investors and analysts will likely be closely monitoring the company's performance in the coming quarters to assess its ability to maintain growth and profitability in a challenging economic environment.
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