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Zhejiang Shibao Co. Ltd. Class H ( (HK:1057) ) has shared an update.
Zhejiang Shibao Co. Ltd. has announced a forecast for its annual results for 2024, projecting a significant increase in net profit attributable to shareholders, expected to be between RMB140 million and RMB165 million, representing an increase of 81.34% to 113.72% compared to the previous year. This growth is driven by increased sales of the company’s electrification and intelligent steering system products, which have contributed to a rise in overall operating income and a decrease in the proportion of expenses to operating income, reflecting positively on the company’s financial health and market positioning.
More about Zhejiang Shibao Co. Ltd. Class H
Zhejiang Shibao Co. Ltd. is a joint stock limited company based in the People’s Republic of China, primarily engaged in the automotive industry. The company focuses on the production of electrification and intelligent steering system products, and has been benefiting from the trends of vehicle electrification, intelligence, and globalization, as well as the increasing market share of Chinese brand passenger cars.
YTD Price Performance: -3.33%
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: €1.02B
See more insights into 1057 stock on TipRanks’ Stock Analysis page.