Hangzhou Greatstar Industrial Sees Up to 15% Increase in H1 Profit; Shares Plunge 10%
Hangzhou Greatstar Industrial (SHE:002444) forecasts its attributable profit to fall 5% to 1.21 billion yuan or rise by up to 15% to 1.46 billion yuan in the first half from 1.27 billion yuan in the year-ago period, according to a Thursday filing with the Shenzhen bourse. Earnings per share could range between 1.0123 yuan and 1.2254 yuan from 1.0656 yuan a year earlier. The hand tool manufacturer attributed the forecast to a 5% rise in revenue following higher investment in cross-border e-commerce. Shares slid 10% during afternoon trading on Thursday.
Hangzhou Greatstar Industrial (SHE:002444) forecasts its attributable profit to fall 5% to 1.21 billion yuan or rise by up to 15% to 1.46 billion yuan in the first half from 1.27 billion yuan in the year-ago period, according to a Thursday filing with the Shenzhen bourse.
Earnings per share could range between 1.0123 yuan and 1.2254 yuan from 1.0656 yuan a year earlier.
The hand tool manufacturer attributed the forecast to a 5% rise in revenue following higher investment in cross-border e-commerce.
Shares slid 10% during afternoon trading on Thursday.