Chizicheng Technology (09911) rose more than 7% in the early trading, reaching HK$11.18 intraday, approaching the historical high of HK$11.54. As of press time, the stock price rose 5.18%, now at HK$10.96, with a turnover of HK$43.3691 million.
Chizicheng Technology announced the establishment of a global headquarters in Hong Kong and will settle in the Science Park. Song Pengliang, senior vice president of Chizicheng, said that the group's offices are currently distributed in more than 20 regions around the world. In the future, 90% of its business will be concentrated in Hong Kong and has been recruiting in Hong Kong. The group's current business is concentrated in the Middle East, Southeast Asia and Europe markets. Song Pengliang pointed out that the demand in the Middle East market is strong. In the past five years, the group's annual compound growth rate of revenue in the Middle East market exceeded 50%, and it will continue to invest in the future.
Guohai Securities pointed out that the company's revenue and profits have steadily improved in recent years based on the stable product capabilities. The acquisition of MICO's minority shareholders' equity in 2024 will also help increase the parent company's profits. The bank believes that the company's late-issuing products are still in a period of rapid growth, and there is still a lot of room for optimization of profit margins after the user's stability in the future.
China Merchants Securities International expects that Sugo and TopTop, a subsidiary of Chizicheng, will maintain strong momentum, and other traditional products will achieve stable single-digit growth. In addition, profits in 2025 are expected to benefit from the profit contribution of MICO Group's minority shareholders' equity after excluding them.
Source: Sina.com
