On July 24, TSUGAMI CHINA fell 5.15% in regular trading, trading at 55.2 HKD/share, with turnover of approximately 14.73 million HKD.
The decline came one day after the company released its full-year results and announced a proposed share buyback of up to 5% of issued capital. For the fiscal year ended March, TSUGAMI CHINA reported revenue of RMB 5.184 billion, up 21.6% year-over-year, and net profit of RMB 1.094 billion, up 39.9%. The board also proposed a final dividend of HKD 0.90 per share. The buyback authorization covers up to 18,430,700 shares, which the board believes will enhance net asset value per share and shareholder returns.
Despite the fundamentally positive results, the Industrial Machinery sector experienced a systemic pullback. Within the sector, UBTECH ROBOTICS fell 6.03%, SANHUA fell 5.54%, ESTUN fell 3.48%, TECHTRONIC IND fell 2.95%, and HANS CNC fell 0.89%. Additionally, TSUGAMI CHINA had rallied significantly from its 52-week low of 19.60 HKD, with substantial accumulated gains potentially contributing to near-term profit-taking pressure.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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