Stocks to watch: Nio, OUE, Japfa, ValueMax, Rex International

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 2):

Nio : The Chinese electric vehicle maker on Wednesday announced its net loss for the fourth quarter of 2022 had widened to just over 5.8 billion yuan (S$1.1 billion) from a loss of about 2.2 billion yuan previously. This was despite a 60 per cent increase in vehicle sales for the period to 14.8 billion yuan, and an increase in revenue by 62.2 per cent to 16.1 billion yuan Q4. Shares of Nio closed at US$10.05, up 9 per cent or US$0.83 on Wednesday before the news. 

OUE : The property developer on Wednesday reported its net profit for the second half of 2022 had almost doubled year on year to S$101.2 million from S$50.9 million. The company attributed this to a higher revenue of S$292.4 million from S$148.8 million. Its board proposed a final cash dividend of S$0.015 per share – to be paid out on May 31, up from S$0.01 per share in 2021. Shares of OUE ended flat at S$1.23 on Wednesday before the announcement. 

Japfa : The agribusiness giant posted a net loss of US$35.9 million for the second half of 2022, a reversal from its net profit of US$300,000 the previous year. This was despite a rise in revenue by 3 per cent to about US$2.2 billion. Shares of Japfa closed flat at S$0.30 on Wednesday before the news. 

ValueMax Group : The pawnbroker on Wednesday reported a year-on-year fall in net profit by 16.8 per cent to S$19.2 million for the second half of 2022 ended December, from S$23.1 million. Revenue for the period dropped 7.1 per cent to S$133.6 million from S$143.9 million. Shares of ValueMax closed flat at S$0.355 on Wednesday before the announcement. 

Rex International : The oil exploration and production company on Wednesday reported a net loss of US$5.8 million for the second half of 2022, a reversal from its net profit of US$43.2 million for H2 2021. Revenue from the sale of crude oil fell 14 per cent to US$70.8 million from US$82.7 million in the previous corresponding period. The counter closed at S$0.167, up 3.1 per cent or S$0.005 on Wednesday before the news.