SHA:600885

Jefferies Adjusts Hongfa Technology's Price Target to 38 Yuan From 28 Yuan, Keeps at Hold

Hongfa Technology (SHA:600885) has an average rating of buy and mean price target of 40.14 yuan, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Hongfa Technology's H1 Profit Rises 20%, Revenue Jumps 32%

Hongfa Technology's (SHA:600885) net profit attributable to shareholders for the first half rose 20% to 1.16 billion yuan from 964.2 million yuan a year earlier, according to a Thursday filing on the Shanghai bourse.Earnings per share climbed 16% year on year to 0.75 yuan from 0.64 yuan.Operating revenue jumped 32% to 11 billion yuan from 8.35 billion yuan in the previous year.The circuit breaker manufacturer's shares fell nearly 3% during the morning trade on Thursday.

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