An announcement from Chervon Holdings Limited ( (HK:2285) ) is now available.
Chervon Holdings Limited has announced a significant turnaround in its financial performance, expecting a net profit of US$110 million to US$120 million for the year ended December 31, 2024, compared to a net loss in the previous year. This impressive growth is attributed to a 25% to 30% increase in revenue, improved gross profit margins, and enhanced operational efficiency. As part of strategic realignment, the company plans to relocate its Steinheim production facility in Germany to China, enhancing manufacturing efficiency and achieving annual cost savings of US$10 million. The repositioning aligns with the company’s strategy to optimize its operations globally.
More about Chervon Holdings Limited
Chervon Holdings Limited is a company incorporated in Hong Kong with a focus on providing power tool solutions to consumers. The company is known for its flagship brand, EGO, and is involved in optimizing its global manufacturing footprint.
YTD Price Performance: -0.92%
Average Trading Volume: 773,299
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$8.75B
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