VSTECS Holdings Ltd. (00856) saw its stock price plummet by 5.06% during intraday trading on Thursday, following the release of its full-year financial results.
The sharp decline appears to be driven by the company's reported revenue falling short of market expectations. VSTECS announced full-year revenue of HKD 97,626.2 million, which missed the IBES estimate of HKD 103,224 million.
While the company reported a full-year profit attributable of HK$1.35 billion and declared a final dividend of HK41.77 cents per ordinary share, investors reacted negatively to the revenue shortfall, leading to the significant sell-off during the trading session.
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