Shanghai Chicmax Cosmetic Forecasts Up to 306% Surge in H1 Profit

MT Newswires Live07-29

Shanghai Chicmax Cosmetic (HKG:2145) expects its profit to have surged by about 286% to 306% to between 390 million yuan and 410 million yuan in the first half of 2024 from 101 million yuan in the year-ago period, according to a Friday filing with the Hong Kong Stock Exchange.

Revenue is also seen to increase by 114% to 127% to between 3.40 billion yuan and 3.60 billion yuan in the first half, the filing said.

The rise is being attributed to the surge in revenue from its KANS brand and higher sales from its second-tier brand Newpage, the filing said.

Shares closed 5% lower in Hong Kong on Monday.

Price (HKD): $35.40, Change: $-2.05, Percent Change: -5.47%

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