Stock Track | Fu Shou Yuan Stock Plunges Over 15% on Weak H1 Earnings

Stock Track08-27

Shares of Fu Shou Yuan International Group (HKG:1448) plummeted over 15% during intraday trading on August 26, 2024, following the company's disappointing financial results for the first half of the year.

According to a filing with the Hong Kong Stock Exchange on Friday, Fu Shou Yuan, a leading provider of burial and funeral services, reported a significant decline in its attributable profit for the first half of 2024. The company's attributable profit plunged to 298.8 million yuan, a substantial drop from 464.7 million yuan in the same period last year.

The company's revenue also took a hit, declining to 1.10 billion yuan from 1.52 billion yuan a year earlier. Consequently, Fu Shou Yuan's earnings per share decreased to 0.132 yuan, compared to 0.205 yuan in the previous year.

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