Hong Kong Stock Movement | CHINA OVS PPT (02669) Opens Down Over 10%, Forecasts 9-10% Profit Decline for FY 2025

Stock News01-28 09:30

CHINA OVS PPT (02669) opened sharply lower, dropping over 10%. As of the time of writing, the stock was down 10.49%, trading at HK$4.35, with a turnover of HK$14.7248 million. According to an announcement, the group expects its overall revenue for the 2025 fiscal year to increase by approximately 5-7% compared to the fiscal year ended December 31, 2024, which aligns with the group's full-year development expectations. Despite facing severe challenges in both internal and external economic environments, the group's management flexibly responded to market changes and promptly adjusted operational strategies, enabling the group to still achieve growth in overall revenue. The announcement indicated, however, that during this period of transformation, significant resource investments were made, and the return on these investments will take time, impacting the speed of profit generation. This has put pressure on the company's gross profit and profit attributable to ordinary equity holders, which are expected to decrease by approximately 3-4% and 9-10%, respectively, compared to the 2024 fiscal year.

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