China's Xtep near 4-week peak on solid results, higher dividend

Xtep International Holdings

19/03/2024 06:52

** Shares of China's homegrown sportswear group Xtep
International Holdings Ltd  1368.HK  jump 11.9% to HK$5.08,
their highest since Nov 22
    ** Stock on track for the biggest one-day pct gain since
November 2022; biggest pct gainer in Hang Seng Composite Index
 .HSCI   
    ** Xtep says 2023 net profit up 11% YoY at 1.03 bln yuan 
($143.07 mln) with revenue up 10.9% YoY at 14.3 bln yuan
    ** Co recommends a final dividend of HK$0.08 per share, as
compared to a final dividend of HK$0.071 per share in 2022 
    ** Hang Seng Composite Index  .HSCI  falls 1.3%, while Hang
Seng Consumption Index  .HSCGSI  and Hang Seng Index  .HSI  both
slip 1.2%
    ** Stock up 13.2% YTD  


($1 = 7.1992 Chinese yuan renminbi)

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