Xianggang Technology's Profit in The First Quarter Is Expected To Increase By More Than 7 Times, And The Packaging Printing And Packaging Container Business Performed Well

Xianggang Technology's profit in the first quarter is expected to increase by more than 7 times, and the packaging printing and packaging container business performed well

On the evening of April 1, Xianggang Technology (603499) released the 2024 performance express report and the first quarter of 2025 performance forecast, achieving operating income of 885 million yuan in 2024, a year-on-year increase of 27.55%; The net profit was 65.3575 million yuan, a year-on-year increase of 750.39%. In the first quarter of 2025, it is expected to achieve a net profit of 40 million yuan to 50 million yuan, a year-on-year increase of 713.32% to 916.65%.

Xianggang Technology said that in 2024, the company will actively develop new customers and strive to expand its business scale. At the same time, we will continue to deepen business cooperation with high-quality key customers and expand new market opportunities and business scale. The company has diligently practiced internal skills, improved operational efficiency and product quality, and strengthened cost control. In addition, the redemption of the convertible corporate bonds issued by the company was completed on April 15, 2024, and the "Xianggang convertible bonds" were delisted from the Shanghai Stock Exchange, and the company's interest expense decreased year-on-year. In the first quarter of this year, Xianggang Technology strengthened market development, and the packaging and printing and packaging container business performed well, and the operating income increased significantly over the same period.

According to the data, Xianggang Technology is an integrated packaging solution provider, mainly engaged in packaging and printing, packaging containers and cosmetics three major business segments, with color boxes, labels and other related packaging and printing products research and development, production and sales, mainly for daily chemical, food, tobacco and other fields of enterprises to provide a full range of packaging and printing services.

At present, the main customers of Xianggang Technology are well-known daily chemical and cosmetics brand companies at home and abroad, such as Estee Lauder, Unilever, Shanghai Jahwa, Pechoin, Bethany, Han Shu, etc. On this basis, the company actively expands the cigarette pack business, and has successively begun to serve China Tobacco customers in Hubei, Shaanxi, Anhui, Fujian, Yunnan, Guangxi, Shanghai and other regions. Xianggang Technology previously said that at present, although the cigarette pack business accounts for a relatively low proportion of the company's overall business, it is one of the business directions that will focus on development in the future.

It is worth noting that last year, Xianggang Technology's investment in semiconductor storage company Jintaike attracted market attention. According to the announcement at that time, based on the optimism about the future development of Jintai and the market prospects of the industry, Xianggang Technology planned to participate in a new round of financing of Jintai with its own or self-raised funds of 100 million yuan to ensure that its shareholding in the latter would not be diluted. Previously, the company had invested in Jintech for the first time with 150 million yuan in April of the same year, with a shareholding ratio of 10%, and after the completion of the financing, Xianggang Technology's equity ratio in Jintaike increased to 13.89%.

According to public information, Jintaike was founded in 2012 and is a professional storage solution provider, mainly providing memory and SSD-related storage products, covering consumer-grade, industrial-controlled, enterprise-level and embedded storage. Xianggang Technology's stake in Jintaike is also intended to create a new business growth point in addition to daily chemical product packaging, but it also pointed out that the aforementioned investment involves new business areas, and Jintaike's profitability may be affected by many factors, and there is uncertainty about the expected returns.

Disk data shows that the share price of Xianggang Technology will rise by 140.24% in 2024, while the range will fall by 11.37% in the first quarter of 2025, and the company's latest share price will close at 23.08 yuan per share, with a total market value of 4.99 billion yuan.