Changes in Hong Kong stocks | Tehai International (09658) fell more than 5% after the results and reversed losses in the third quarter to no new stores opened during the profit period

The Zhitong Finance App learned that Tehai International (09658) fell by more than 5% after the results. As of press release, it had a decrease of 4.85% to HK$12.56, with a turnover of HK$10.413 million.

According to the news, Tehai International announced unaudited financial results for the third quarter of 2024. The group obtained revenue of US$199 million, an increase of 14.6% over the previous year; profit attributable to the company owners was US$377.24 million, while a loss of US$1.39 million was lost in the same period last year, turning a loss into a profit. According to reports, no new stores were opened in the third quarter of 2024, and a restaurant in Southeast Asia was temporarily closed, and it is planned to reopen it as a second-brand restaurant in the near future.

Huatai Securities pointed out that the company had a good balance between the speed of opening stores and the quality of individual stores during the year. As a traditional peak season, the ASP and turnover of the same stores improved thanks to the strengthening of operational quality, which led to an increase in both revenue and profit. Looking at different regions, mature regions in Southeast Asia have maintained turbulence and steady growth in customer orders, and management adjustments in East Asia have achieved remarkable results. Since the new CEO took office, the company has continued to refine the global store management and supply chain level and product strength. The bank believes that the peak season in the fourth quarter is expected to continue its high turnover performance. The company is actively implementing multi-brand plans to cultivate single-store models for new categories such as noodles and halal hot pot, and has considerable potential for medium- to long-term growth.