Shandong Fengxiang (HKG:9977) expects a net profit of between 265 million yuan and 285 million yuan for the year 2024, up from 160 million a year prior, a Thursday filing with the Hong Kong bourse said.

The poultry meat producer attributed the higher anticipated profit mainly to an increase in the sales volume of raw and processed chicken meat products, as well as a boost in production efficiency and lower costs.

Shares of the company were up over 4% in recent trade.