Movement Alert|CICC Rises 3.05% in Regular Trading, Brokerage Sector Rallies on Strong Half-Year Earnings Outlook

Market Focus07-20

On July 20, CICC (03908.HK) rose 3.05% in regular trading, trading at HKD 21.62 per share, with turnover of HKD 54.13 million.

On the news front, the brokerage sector rallied broadly, with peers CITIC Securities up 3.9% and China Galaxy up 3.14%. CICC previously disclosed a half-year earnings pre-increase announcement, forecasting H1 attributable net profit of RMB 7.71 billion to RMB 8.23 billion, representing year-over-year growth of 78% to 90%. Net profit after non-recurring items is expected at RMB 7.55 billion to RMB 8.06 billion. Its wholly-owned subsidiary CICC Wealth recorded H1 net profit of approximately RMB 2.39 billion on revenue of RMB 6.14 billion.

Separately, CICC noted that A-shares may deliver their best earnings period in five years, with non-financial profit growth forecast at 9.9% for the full year. The firm also recently had its three-way merger application with Dongxing Securities and Cinda Securities formally accepted by the CSRC, marking a further milestone in industry consolidation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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