Stocks to watch: Nio, OUE, HPL, Indofood Agri Resources, Kin Global, Concord New Energy
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Aug 3):
Nio : The electric vehicle giant on Sunday said it delivered 35,934 vehicles in July, representing a year-on-year rise of 71 per cent. The deliveries comprised 20,008 vehicles from the Nio brand, 10,155 vehicles from the Onvo brand and 5,771 vehicles from the Firefly brand. This brings the total number of vehicle deliveries in the year to date to 227,057, up 68 per cent rise from the same year-ago period. Shares of Nio ended Friday 2.9 per cent or US$0.14 up to close at US$4.94 before the news.
OUE : The company on Friday said in a bourse filing that it is expected to record a net loss for the first half ended Jun 30. This is because one of its equity-accounted investees, Gemdale Properties and Investment Corporation, has run up losses. It is 29.07 per cent owned by OUE and has business in China, and was affected by the prevailing slowdown of the property market and the current economic environment there. The group is expected to announce its H1 results by Aug 14. The counter ended Friday flat at S$1, prior to the news.
Hotel Properties Limited (HPL) : The group on Friday said that it is expected to report a net loss for its half year ended Jun 30, mainly due to the adverse impact of the ongoing conflict in the Middle East on the operating performance of its hotels and resorts. Borrowing costs also remained elevated, mainly as a result of additional borrowings undertaken to fund new acquisitions. Shares of HPL closed 0.7 per cent or S$0.03 higher at S$4.60 on Friday before the news.
Indofood Agri Resources : The agribusiness group on Friday reported a 31.6 per cent rise in net profit to 444.5 billion rupiah (US$24.6 million) for the first half ended Jun 30, from 337.8 billion rupiah in the same year-ago period. This came on the back of foreign-exchange gains, fair-value gains on biological assets and higher other operating income. Earnings per share increased to 318 rupiah, from 242 rupiah. The counter ended Friday flat at S$0.355, before the release of the results.
Kin Global : The sports events manager said it is expected to post a net loss for the first-half ended Jun 30, due to one-off listing expenses. It said on Friday that excluding these costs, it would have recorded “a marginal profit” for the period. Lower revenue from its design-and-build segment due to delays in the awarding and commencement of projects was another factor cited for a weaker H1 performance. Shares of Kin Global ended Friday unchanged at S$0.162, before the announcement.
Concord New Energy : The company announced that it had secured three power purchase agreements with Tesla for solar projects in the US on Friday. They are on a long-term basis, and for three solar projects with a total capacity of about 469 megawatts (alternating current). The first project is expected to commence power supply in the first half of 2027. The counter ended 3.6 per cent or S$0.002 higher at S$0.058 on Friday before the news.
