JINHAI MED TECH (02225) climbed nearly 8% during the morning trading session on the Hong Kong Stock Exchange. As of the time of writing, the stock was up 5.00% at HKD 5.98, with a trading turnover of HKD 15.31 million.
On the news front, on September 7, JINHAI MED TECH was officially included in the Hang Seng Stock Connect list. This inclusion is expected to broaden the shareholder base, attract long-term institutional investors, and enhance the liquidity of share trading.
Data indicates that southbound capital has been consistently increasing its stake in the company. The proportion of shares held via the Stock Connect program rose rapidly from 0.3% on September 10 to 0.7% by September 18. Notably, the company's revenue structure saw significant optimization in the first half of the year.
Revenue from minimally invasive surgical solutions and medical products reached SGD 25.43 million, a year-on-year surge of 301.5%, accounting for 74.73% of total revenue, with all of it originating from the Chinese market. Financial reports also revealed that the company accrued corporate income tax in China for the first time this period, signaling that JINHAI MED TECH's medical business in China has crossed the operational breakeven threshold.
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