CHINA LESSO (02128) surged over 5%, rising 5.39% to HK$5.08 with trading volume of HK$45.78 million as of press time.

On the news front, CHINA LESSO released its interim results for 2025, reporting revenue of RMB 12.475 billion, down 8.03% year-over-year, while profit attributable to shareholders reached RMB 1.046 billion, up 0.27% compared to the same period last year.

Huatai Securities issued a research report stating that the company's first-half performance exceeded their previous expectations (RMB 884 million), primarily due to the company's overall debt restructuring progress surpassing prior expectations in the first half, effectively reducing financial expenses. During the industry downturn cycle, the company's plastic pipe products achieved comprehensive sales volume growth of 3.9% year-over-year against the trend. The firm expects the company's market share to further increase and maintains a "buy" rating.

According to the financial report, in the first half of 2025, the company's plastic pipe system business generated revenue of RMB 10.856 billion, a slight decline of 3.2%, accounting for 87% of total company revenue. During the period, product sales volume grew slightly by 3.9% year-over-year. Sales volume and revenue for PVC products were 891,430 tons and RMB 6.023 billion respectively, while non-PVC products recorded 357,963 tons and RMB 4.833 billion respectively. The average selling price of plastic pipe systems declined year-over-year to RMB 8,689 per ton, while the plastic pipe system business maintained a healthy gross margin of 29.4%.