Movement Alert|CMSC Rises 3.04% in Regular Trading, Chinese Brokerage Sector Rallies on Strong H1 Earnings Forecast

Market Focus07-23 13:14

On July 23, CMSC rose 3.04% in regular trading, trading at HK$15.9/share, with turnover of HK$34.24 million. The stock gained alongside a broad rally in Chinese brokerage stocks listed in Hong Kong.

On the news front, Chinese brokerage stocks collectively strengthened, with GF Securities up over 3%, CSC Financial and CITIC Securities each up over 2%. CMSC previously disclosed its H1 earnings forecast, projecting net profit attributable to shareholders of RMB 10 billion to RMB 11 billion, representing a year-over-year increase of 93% to 112%, marking a record high for the same period. Notably, Q2 net profit is expected to surge 105%-136% quarter-over-quarter, with sci-tech innovation investment identified as the primary driver of performance improvement. Analysts noted that the near-identical figures between net profit and non-recurring adjusted net profit indicate strong core business quality. Market conditions during H1, including a rising equity market and stable bond market, provided a supportive backdrop for brokerage operations.

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