Quanfeng Holdings: Strong growth of 400%, expected profit exceeding $110 million
In recent years, the scale of landscaping tools has steadily increased. According to Global Market Insights, the global lawn and landscaping equipment market is expected to reach 39.7 billion US dollars in 2023 and 45.45 billion US dollars in 2025, with an average annual compound growth rate of about 7.0%. The overall market space is vast.
At the same time, with the advancement of lithium-ion technology and cost reduction, the advantages of lithium-ion garden tool products are gradually emerging. According to TraQline statistics, it is expected that the market size of lithium-ion garden tools will reach 5.6 billion US dollars by 2025.
Quanfeng HoldingsStrong growth of 400%, expected profit exceeding $110 million
On January 16, 2025, Quanfeng Holdings released a positive profit forecast and business update. According to the announcement:Quanfeng Holdings expects to achieve a net profit of approximately $110 million to $120 million in 2024, with a net loss of approximately $37.2 million in 2023, a year-on-year increase of approximately 400%.Adjusted net profit (excluding non recurring costs related to the positioning adjustment of the group's Steinheim base in Germany) is expected to be approximately $135 million to $145 million.