Shengtak New Material Expects Up to 224% Profit Growth in Q3; Shares Jump 11%

MT Newswires Live2024-10-10

Shengtak New Material Co. (SHE:300881) forecasted annual profit growth ranging between 199.8% and 223.6% in the third quarter.

The seamless steel tubes for industrial energy equipment producer expected Q3 net profit attributable to shareholders to range between 63 million yuan and 68 million yuan, compared with the year-ago figure of 21.0 million yuan, according to a Thursday filing with the Shenzhen bourse.

For the first nine months of 2024, net profit attributable to shareholders is expected to rise to between 185 million yuan and 190 million yuan, compared with 72.4 million yuan the previous year.

Shares of Shengtak New Material jumped 11% in recent trade.

Price (RMB): Â¥34.44, Change: Â¥+3.7, Percent Change: +12.18%

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