Q TECH (HKG:1478) shares surged 5.10% in Wednesday's trading session following the release of the company's impressive full-year 2024 financial results. The Hong Kong-based electronic component manufacturer reported significant growth in both revenue and profitability, outperforming market expectations in several key areas.
Q Technology (Group) announced a robust 29% year-over-year increase in revenue, reaching CN¥16.2 billion for the fiscal year 2024. The company's net income skyrocketed by 241% to CN¥279.1 million, while earnings per share (EPS) more than tripled from CN¥0.069 to CN¥0.24. Notably, the profit margin expanded from 0.7% to 1.7%, driven by higher revenue. The company's top-line performance exceeded analyst estimates by 3.2%, although EPS fell short of expectations by 11%.
Investors appear to be responding positively to Q TECH's strong financial performance and improved profitability. Looking ahead, analysts forecast a 7.9% annual revenue growth for the company over the next three years, slightly below the 13% growth projected for the Hong Kong Electronic industry as a whole. The stock's recent surge adds to its impressive 14% gain over the past week, reflecting growing investor confidence in Q TECH's business prospects and financial health.
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