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Hong Kong stocks fluctuate | BE FRIENDS HLDG surged over 19% in the afternoon, launching a special support plan for 'foreign trade quality products to domestic sales' + first quarter GMV increased over 31% year-on-year.
On May 12, Glonghui reported that BE FRIENDS HLDG (1450.HK) surged over 19% in the afternoon, reaching HKD 1, hitting a new high for over a month. In terms of news, BE FRIENDS HLDG launched a special support plan last month for "turning foreign trade quality products into domestic sales." This plan covers a full range of Commodities including Housewares, outdoor sports equipment, beauty and skincare, and mother and baby products, driving sales through live streaming and brand display, and helping foreign trade enterprises establish brand recognition in the domestic market. In addition, the company announced that the total gross merchandise value (GMV) for the first quarter of 2025 exceeded RMB 3.2 billion, an increase of over 31% compared to the first quarter of 2024.
BE FRIENDS HLDG: ANNUAL REPORT 2024
BE FRIENDS HLDG (01450.HK) Q1 performance validates growth resilience, heavily launching the "Export Quality Products to Domestic Sales" program to support foreign trade merchants in strengthening the domestic market.
1. Performance Decoding: A Duet of Growth and Transformation. According to BE FRIENDS HLDG's 2024 performance announcement, the company achieved a GMV of 15.08 billion yuan during the reporting period, a year-on-year increase of 19.58%. From 2022 to 2024, the company's GMV compound annual growth rate is approximately 45.8%. Revenue reached 1.251 billion yuan, a year-on-year growth of 16.4%, maintaining its position in the top tier of the live-streaming e-commerce Industry for five consecutive years. The day after the Earnings Reports were released, the company also announced the divestment of Century Ruike's broadcasting business (forecasted loss of approximately 22 million yuan in 2024), which not only helps alleviate future performance pressures for the company but also signifies.
E-commerce platforms are intensifying their efforts in "export to domestic sales", with EAST BUY rising more than 8%.
① Can the "foreign trade to domestic sales" initiative promoted by China's e-commerce platforms effectively relieve the pressure on foreign trade enterprises? ② How do Institutions view the future of the Consumer Industry?
Be Friends' Gross Merchandise Volume Up at Least 32% in Q1
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