Stock Track | Holly Futures Soars on Stellar First-Half Profit Growth

Stock Track08-19

Shares of Hong Kong-listed Holly Futures (03678) surged as much as 20.77% during intraday trading on Monday, following the company's release of strong first-half 2024 financial results.

According to a filing with the Hong Kong Stock Exchange on Friday, Holly Futures reported an 80% year-on-year increase in attributable profit for the first six months of 2024, rising to 12.8 million yuan from 7.1 million yuan in the same period last year. Earnings per share also saw a significant improvement, climbing to 0.0127 yuan from 0.0071 yuan in the previous year. The brokerage firm's operating income grew 13% to 1.03 billion yuan, up from 911 million yuan a year earlier.

The stellar financial performance was well-received by investors, with Holly Futures' shares closing 15% higher at HKD 1.50 on Monday. The strong first-half results appear to be the primary driver behind the stock's intraday surge of over 20%.

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