Shares in Zhongxin Fruit reached a 52-week high when it closed at 3.4 cents on Jan 21 or 126.67% up from its previous close of 1.5 cents.
This came after the company said, on Jan 20, that it expected to report a “significantly higher” revenue and net profit for the 1HFY2025 ended Dec 31 on a y-o-y basis. The increase was attributed to higher customer demand for Zhongxin’s concentrated fruit juices and fructose.
The company was among the most heavily traded counters on Jan 21 with some 22.49 million shares changed hands at the close of the day.
Zhongxin’s new share price represents a total market cap of $36.04 million.
