Reported about 1 year ago
Rong Star (1617) benefited from the recovery in demand for enameled wire from consumer electronics industry clients, achieving a near two-year high in revenue in May. On June 12, the stock experienced a lagging catch-up trend, with foreign investors entering for three consecutive days and market buying pressure driving the stock to hit the daily limit up of 29.35 yuan within the first 34 minutes of trading. The closing price rose by 2.65 yuan, surpassing all technical resistance levels. Rong Star's main business is the production of enameled wire, with recent orders from consumer electronics industry clients picking up, leading to a revenue increase in May to 305 million yuan, a monthly growth of 2.85% and a year-on-year growth of 38.89%, hitting a near two-year high. The revenue for the first five months was 1.289 billion yuan, a year-on-year growth of 15.36%. The EPS for the first quarter was 0.15 yuan, outperforming the 0.35 yuan loss per share in the fourth quarter of the previous year.
Source: YAHOO