HK Stock Market Move | Sichuan Express (00107) rose more than 10% after the performance report, full-year performance exceeding expectations. Institutions said that H-share dividend yield is close to 9%.

Sichuan Express (00107) rose by more than 10% after the earnings report, reaching 8.88% at the time of publication, at 3.8 Hong Kong dollars, with a trading volume of 278.884 million Hong Kong dollars. On the news front, Sichuan Express announced its annual financial report, with a total operating income of 10.362 billion yuan, a year-on-year decrease of 11.07%; net profit attributable to shareholders of the listed company was 1.459 billion yuan, a year-on-year increase of 22.91%; non-GAAP net profit was 1.39 billion yuan, a year-on-year increase of 27.22%. Huachun Securities pointed out that the company's performance is better than expected. The company plans to distribute a cash dividend of 0.29 yuan per share (including tax) to all shareholders, with a total cash dividend of 887 million yuan (including tax), a dividend ratio of 60.79%, corresponding to a current dividend yield of 5.8% for A-shares and nearly 9% for H-shares. The bank pointed out that the company had previously released a three-year return plan, increasing the dividend ratio to 60% for the years 2023-2025. In 2024, the planned dividend ratio is 60.79%. The company's increase in dividend ratio shows its commitment to investor returns, and its A/H share dividend yield is leading. More importantly, the bank believes that under the classic investment logic of "big group, small company," the company has developed and strengthened its core business around the highway industry, combined with dividend promises, can be seen as a rare growth dividend asset.