XiDeLang Holdings Ltd (+ve)
Trading in shares of XiDeLang Holdings Ltd (fundamental: 1.3/3, valuation: 1.7/3) triggered our momentum algorithm yesterday for the first time this year.
XiDeLang closed unchanged at 12.5 sen, after 12.93 million shares were traded, versus the counter’s 200-day average volume of 4.40 million shares. The group manufactures sports and casual shoes as well as apparel and accessories under its own label.
Last week, its managing director and chief executive officer Ding Peng Peng said XiDeLang is confident of achieving double-digit revenue growth this year, driven by an expanded portfolio under its original design manufacturing segment.
As the group caters mostly to the wider global market, XiDeLang also sees no significant impact on its performance from the US-China trade dispute.
For the nine months ended Sept 30, 2018, XiDeLang reported a 18.7% rise in net profit to RM16.35 million from a year ago, despite a 19.1% fall in revenue to RM338.42 million.