CCTC (06951) Jumps Nearly 6% in Early Trading as Q3 Net Profit Surges 168% Year-on-Year and 69% Quarter-on-Quarter

Stock News10-29

CCTC (06951) rose nearly 6% in early trading. As of press time, it was up 2.56% at HK$88.1, with a turnover of HK$67.5703 million.

On the news front, CCTC (06951) released its results, with third-quarter operating revenue of RMB 5.079 billion, up 115.27% year-on-year; net profit attributable to shareholders of RMB 1.933 billion, up 167.97% year-on-year and up 69% quarter-on-quarter.

During the reporting period, benefiting from improved customer recognition and rising industry prosperity, the company's product market demand grew, orders were full, and some main products saw both volume and price increases, resulting in a significant year-on-year increase in operating revenue.

It is worth noting that on the evening of October 14, CCTC (06951) announced a share repurchase plan, with a total repurchase amount of RMB 250 million to RMB 500 million. This is already the company's third repurchase in the past three months. Together with the previous two repurchases, the company's cumulative repurchase amount is expected to reach a maximum of approximately RMB 2.4 billion.

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