SHA:600885

Hongfa Technology's Attributable Profit Jumps 18% in Q1

Hongfa Technology's (SHA:600885) attributable profit rose 18% to 484.3 million yuan in the first quarter from 411.1 million yuan in the year-ago period, according to a Thursday filing with the Shanghai bourse.Earnings per share at the electrical equipment manufacturer increased to 0.3129 yuan from 0.2808 yuan, after adjustments, in the prior-year period.Operating revenue grew 28% year over year to 5.11 billion yuan from 3.98 billion yuan.

Jefferies Adjusts Hongfa Technology's Price Target to 28 Yuan from 26 Yuan, Keeps at Hold