HK Stock Market Move | YIHAI INTL (01579) surged over 4% in late trading, with its performance in the first half of the year exceeding expectations, and a dividend payout ratio reaching 100%.

YIHAI INTL (01579) rose over 4% in late trading. As of the time of writing, it is up 4.28%, priced at HKD 16.32, with a trading volume of HKD 76.2873 million. On the news front, YIHAI INTL released its mid-term results, reporting a revenue of RMB 3.347 billion for the first half of the year, a year-on-year increase of 14.3%; the profit attributable to shareholders was RMB 375.6 million, up 21.4% year-on-year. Notably, the company announced an interim dividend of HKD 0.4188 per share, with a payout ratio of 100% (considering 6% as own equity), maintaining a high proportion of shareholder returns. Daiwa stated that YIHAI INTL's performance in the first half of the year significantly exceeded expectations, marking the first time in many years that this has occurred, with the recovery of upstream seasonings outpacing that of the downstream catering industry. The firm indicated that while the market is concerned about risks of slowing growth in the second half of the year, the low base in the second half and the favorable competitive environment suggest that YIHAI INTL's sales are expected to grow by 10% year-on-year in the second half, slightly lower than the first half, but still showing a solid double-digit growth.