Changes in Hong Kong stocks | Kanglong Chemical (03759) rose more than 11% in the second quarter, and the second-quarter results were faster than the first quarter's accelerated order fulfillment

The Zhitong Finance App learned that Kanglong Chemical (03759) rose more than 11% in the intraday period, with a cumulative increase of more than 70% in the past month. As of press release, it rose 4.32% to HK$24.62, with a turnover of HK$646 million.

According to the news, Kanglong Chemical expects net profit of 729 million yuan to 772 million yuan in the first half of the year, an increase of 4% to 10% over the previous year. According to BOC International estimates, Kanglong Chemical's revenue and adjusted net profit for the second quarter are expected to increase by about 19.4% and 22.3% respectively. The growth rates are all further accelerated compared to the first quarter. The bank pointed out that the adjusted profit still includes the impact of exchange losses, which shows that the company's core operating performance is better than the level reflected in the report, and further supports the annual revenue growth target of 12% to 18% proposed by management.

The bank pointed out that after new orders in the first quarter increased by more than 30% year-on-year, Kanglong Chemical once again confirmed in this profit forecast that orders continued to grow strongly in the first half of the year. Mid-term performance growth will continue to be mainly driven by the CDMO business, and will benefit from an increase in the share of mid- to late-stage projects and the gradual release of production capacity. BOC International said that the overall profit forecast is in line with and further validates its investment logic.