Chongqing Machinery & Electric expects profit surge

Chongqing Machinery & Electric Co., Ltd. (HKEX:2722) announced a positive profit alert, projecting a profit attributable to shareholders to increase by approximately 40%-45% for the year ended December 31, 2024, compared to the previous year. The expected surge is primarily attributed to the company's proactive efforts in its high-power engine business, which has significantly benefited from new production line capacity and increased investment income. Additionally, enhanced market development in key businesses such as industrial pumps, coupled with improved internal management and cost reduction measures, have contributed to the positive outlook. The company advises shareholders and potential investors to exercise caution when dealing in the company's securities. The company anticipates publishing its annual results announcement on March 20, 2025.