CALB Group Co Ltd Class H
03931: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$89.80 | Mgrrp | Fgzfphct |
CALB Earnings: Revenue and Net Profit Missed; Rising Operating Expenses Eased Margin Gain
No-moat CALB’s respective first-half revenue and net profit growths of 1.3% and 70% year on year were weaker than we expected due to a decline in electric vehicle battery selling prices and a surge in operating expenses. The company posted muted year-over-year revenue growth for the period, with shipment increase offset by sluggish battery prices. Gross margin beat with 6 percentage points gain year over year, but operating expenses more than doubled from a year ago.