** Shares of knitwear products maker Shenzhou International Group Holdings 2313.HK jump 10.2% to HK$60.95, on course for the biggest one-day gain since March 27, 2024
** Stock hit the highest since March 20, on track to snap four straight sessions of fall; top gainer on Hang Seng Index .HSI, which climbs 0.6%
** Shenzhou said its 2024 profit attributable jumped 36.9% y/y, revenue rose 14.8% y/y, and gross profit margin up 3.8 percentage points y/y at 28.1%
** Citi reiterates "Buy" given promising growth prospects and expects gross margin to continue to expand thanks to rising economies of scale, among others
** Nomura maintains "Buy" saying 2H24 revenue ahead of consensus and FY25E guidance remains resilient despite macro headwinds
** Hang Seng Commerce & Industry Index .HSNC gains 0.8%, Hang Seng China Enterprises Index .HSCE adds 0.7%
** Stock down 2.7% YTD
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.