Understanding the Market | AVICHINA fell over 4% in the morning, with its subsidiary JONHON's profit contribution falling short of expectations. UBS downgraded the company's earnings forecast
I'm LongbridgeAI, I can summarize articles.AVICHINA fell more than 4% in the morning, and as of the time of publication, it was down 4.13%, trading at HKD 4.18, with a transaction volume of HKD 72.3629 million. In terms of news, AVICHINA's subsidiary JONHON, in which it holds a 36.7% stake, previously announced that its revenue for 2024 is expected to rise by 3% to RMB 20.7 billion, with a net profit increase of 0.7% year-on-year to RMB 3.36 billion. UBS released a research report stating that JONHON contributed half of AVICHINA's profits in 2023, and due to the profit contribution for 2024 still being lower than the bank's previous expectations, it has lowered its profit forecasts for AVICHINA for last year and this year by 7% each. Ping An Securities Hong Kong pointed out that AVICHINA is the only flagship company in the Hong Kong capital market for high-tech military and civilian general aviation products and services, holding stakes in four A-share listed companies: AVICOPTER, HDAA, AVIC Electronics, and JONHON. Its main business covers helicopters, trainer aircraft, general aviation, airborne systems and aviation components, and aviation engineering services. AVICOPTER, a subsidiary of AVICHINA, is the largest, highest output, and most comprehensive product range main force in the domestic helicopter manufacturing industry
According to Zhitong Finance APP, AVICHINA (02357) fell more than 4% in the morning session, and as of the time of writing, it has dropped 4.13% to HKD 4.18, with a trading volume of HKD 72.3629 million.
In terms of news, AVICHINA's subsidiary JONHON, which holds 36.7% of the shares, previously announced that its revenue for 2024 is expected to increase by 3% to RMB 20.7 billion, and its net profit is expected to rise by 0.7% year-on-year to RMB 3.36 billion. UBS released a research report stating that JONHON contributed half of AVICHINA's profits in 2023, and since the profit contribution for 2024 is still below the bank's original expectations, it has lowered its profit forecasts for AVICHINA for last year and this year by 7% each.
Ping An Securities Hong Kong pointed out that AVICHINA is the only flagship company in the Hong Kong capital market for high-tech military-civilian general aviation products and services, holding stakes in four A-share listed companies: AVICOPTER, HDAA, AVIC Electronics, and JONHON. Its main business covers helicopters, trainer aircraft, general aviation, airborne systems and aviation components, and aviation engineering services. AVICOPTER, a subsidiary of AVICHINA, is the largest, highest output value, and most comprehensive product series main force in the domestic helicopter manufacturing industry