Select Financial Stocks Advance in Hong Kong Trading

Stock News05-19 13:50

Certain financial stocks moved higher in Hong Kong trading. At the time of writing, PICC GROUP (01339) rose 6.46% to HK$5.60, while CMSC (06099) gained 4.61% to HK$14.52.

The movement follows recent news that domestic memory chip giant ChangXin Technology has updated its IPO prospectus, revealing exceptionally strong preliminary results for the first quarter of 2026: revenue reached RMB 50.8 billion with a net profit of RMB 33.012 billion. This equates to nearly RMB 400 million in daily profit.

It is noteworthy that aside from Hefei Urban Construction, which has drawn investor attention for its stake in ChangXin Technology, several listed companies have invested in the chipmaker through direct or indirect shareholdings. Public information shows that among financial institutions, China Merchants Securities' Zhong'an China Merchants Fund and CMSC Investment, as well as PICC Group's PICC Capital, were among the pre-IPO investors in ChangXin Technology.

A recent research report from Industrial Securities noted that PICC Property and Casualty's core strengths in brand, scale, service network, risk pricing, and risk mitigation services are expected to materialize. Future improvements in underwriting profit margins could drive a continued rise in ROE, creating room for valuation recovery. For the life insurance segment, the company remains committed to advancing the transformation of its agent channel in the medium to long term while deepening its bancassurance channel strategy. The potential for value growth is anticipated to be gradually unlocked, supported by the synergistic development of multiple channels and rising demand for long-term savings products.

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