On the morning trading session, CHERVON (02285) saw a significant surge in volume, climbing over 20% before settling up 15.80% at HK$23.16, with a turnover of HK$229 million.

On the evening of September 10, CHERVON announced that Joseph Galli Jr. has been appointed as Chief Executive Officer, effective September 10. Upon the effective date, the company's founder, Pan Longquan, will step down as CEO but will continue to serve as Executive Director and Chairman. Galli previously served as CEO of Techtronics Electrical Appliances and held the role of CEO and Executive Director of Techtronic Industries from February 2008 to May 2024, where he led the management team in daily operations, integrated acquisitions, and enhanced the global sales potential of the Milwaukee and Ryobi brands.

In the first half of this year, CHERVON reported revenue of approximately USD 1.029 billion, a year-on-year increase of 12.8%. Gross margin improved from 33.3% to 39.3%. Net profit for the period reached approximately USD 106 million, up 11.6% year-on-year, while adjusted net profit stood at approximately USD 106 million, reflecting a 39.9% increase. Huatai Securities attributes this growth to the steady rise in self-owned brand revenue, the rapid development of the EGO brand which lifted overall gross margin, and tariff rebates. As a globally leading brand in power tools and lithium-battery OPE, the company maintains a deep competitive moat in the mid-to-high-end lithium-battery OPE segment.