SUN.KING TECH (00580) Rises Over 7% Again; Flexible Power Transmission Business Drives Revenue; Full-Year Revenue Expected to Increase ~40% YoY

Stock News
Jan 19

SUN.KING TECH (00580) surged more than 7% again. As of the time of writing, the stock was up 6.44%, trading at HK$2.15 with a turnover of HK$21.85 million. On January 14, SUN.KING TECH issued an announcement projecting the Group's revenue for the 2025 financial year to reach approximately RMB 2.25 billion, representing an increase of about 40.0% year-on-year. The Group also anticipates that profit attributable to owners of the parent company will increase by approximately 30.0% compared to the previous year. The announcement stated that the revenue growth is primarily attributable to increased income from the flexible power transmission business segment, benefiting from the progressive delivery and revenue recognition of products related to specific project orders. These key projects include the Saudi Arabia Central-South ±500kV VSC-HVDC converter station project, the Gansu-Zhejiang ±800kV UHVDC power transmission project, and the Peru/Chile distributed power flow controller project. Furthermore, revenue from self-produced Insulated Gate Bipolar Transistors (IGBTs) also increased, driven by the Group's enhanced market expansion efforts leading to a gradual expansion of its market share.

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