Woer Heat-Shrinkable Material Expects Up to 40% Rise in H1 Profit; Shares Down 5%

ShenZhen Woer Heat-Shrinkable Material will acquire the remaining 25% equity in Changyuan Electronics from Nanjing Changyuan for 340 million yuan.

The acquisition will bring the company's stake in Changyuan Electronics to 100%, according to a Thursday filing with the Shenzhen bourse.

Shares of the heat shrink tube manufacturer closed 1% higher Thursday.

ShenZhen Woer Heat-Shrinkable Material will acquire the remaining 25% equity in Changyuan Electronics from Nanjing Changyuan for 340 million yuan.

The acquisition will bring the company's stake in Changyuan Electronics to 100%, according to a Thursday filing with the Shenzhen bourse.

Shares of the heat shrink tube manufacturer closed 1% higher Thursday.

ShenZhen Woer Heat-Shrinkable Material plans to issue H-shares and list on the main board of the Hong Kong Stock Exchange.

The move aims to support the heat shrink tubes manufacturer's globalization strategy and enhance international competitiveness, according to a Tuesday filing with the Shenzhen bourse.

The proposal is subject to shareholder approval and clearance from regulatory bodies in China and Hong Kong.

Shares of ShenZhen Woer Heat-Shrinkable Material declined 2% in recent trade.

ShenZhen Woer Heat-Shrinkable Material plans to issue H-shares and list on the main board of the Hong Kong Stock Exchange.

The move aims to support the heat shrink tubes manufacturer's globalization strategy and enhance international competitiveness, according to a Tuesday filing with the Shenzhen bourse.

The proposal is subject to shareholder approval and clearance from regulatory bodies in China and Hong Kong.

Shares of ShenZhen Woer Heat-Shrinkable Material declined 2% in recent trade.

ShenZhen Woer Heat-Shrinkable Material's attributable profit rose 23% to 859.5 million yuan in 2024 from 700.5 million yuan in 2023, according to a Friday filing with the Shenzhen Stock Exchange.

Earnings per share at the heat shrink tubes manufacturer increased to 0.68 yuan from 0.56 yuan in the previous year.

Operating income grew 21% to 6.93 billion yuan from 5.72 billion yuan a year earlier.

The buzz around AI firm DeepSeek is shining the spotlight on companies tied to tech giant ByteDance, Daiwa analysts write in a note. DeepSeek's arrival has fueled sentiment around AI, spilling over into companies that do business with ByteDance, which has its own AI chatbot. That's brought some of the company's major listed suppliers like Accelink Technologies, a maker of optical components and photo-electronic devices, onto investors' radar, the analysts say. GigaDevice Semiconductor, a memory chip provider, is reaping the benefits, as are ByteDance suppliers Shenzhen Woer and Broadex, which respectively specialize in power cables & shrinkable tubes, and electronic components, they add. (jiahui.huang@wsj.com; @ivy_jiahuihuang)