HK-listed Johnson Electric hits near 4-month peak on strong results

Johnson Electric Holdings

09/11/2023 06:44

** Shares of automotive products and motors Johnson Electric
Holdings Ltd  0179.HK  jump as much as 13.6% to HK$11.52, their
highest since July 14
    ** Stock on course for the biggest one-day pct rise since
January 2021, if gains hold, and is second-biggest pct gainer in
Hang Seng Composite Index  .HSCI   
    ** Co says net profit for the six-month period ended
September up 115% YoY, with group sales up 9% YoY to $1.94 bln,
driven by pent-up demand for automotive components for new car
models following a lengthy period of global supply chain
constraints
    ** Co says it remains on track to achieve sales growth for
the full year of 5% to 7% that was budgeted for at the outset of
the financial year
    ** Johnson Electric stock up 14.1% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))