China Telecom Q1 Net Profit Drops 17.1% YoY; PATEO Announces Deep Collaboration with Leading EV Maker and NVIDIA

Stock News09:12

【Major Announcements】 Tianxing Medical (01609) commenced its public offering today with an issue price of HK$98.5 per share. Cornerstone investors subscribed to US$37 million worth of shares. Zhejiang Jiangsu-Hangzhou-Yong Expressway (00576) plans to establish a joint venture company to engage in the investment, construction, and operation of low-altitude infrastructure. AI-powered regional drug discovery firm Insilico Medicine (03696) saw its UAE team nominate its first preclinical candidate drug. Convergence Technologies (01729) intends to acquire the remaining 51% equity interest in Time Interconnect Singapore Pte. Ltd. for US$12.7 million. Ruihua Digital Intelligence (03680) entered into a strategic cooperation agreement with JHD to jointly develop next-generation digital solutions for the financial and broader financial services industry. PATEO (02889) announced a series of in-depth collaborations with a leading OEM new energy vehicle manufacturer and NVIDIA. MINISO Group (09896) disclosed that its controlling shareholder, Ye Guofu, plans to increase his stake in the company by no less than HK$50 million.

【Financial Results】 CHINA TELECOM (00728) reported first-quarter attributable profit of RMB 7.35 billion, a decrease of 17.1% year-on-year. Aluminum Corporation of China (02600) posted first-quarter net profit attributable to owners of RMB 5.527 billion, an increase of 56.35% year-on-year. China State Construction International (03311) recorded combined operating profit and share of profits of joint ventures of approximately RMB 3.584 billion for the first quarter, a decrease of 9.57% year-on-year. Kingsoft Corporation (03888) announced that its subsidiary Kingsoft Office (688111.SH) achieved first-quarter net profit attributable to owners of RMB 2.195 billion, an increase of 444.97% year-on-year. Livzon Pharmaceutical Group (01513) reported first-quarter net profit attributable to owners of RMB 577 million, a decrease of 9.39% year-on-year. China Overseas Grand Oceans Group (00081) posted first-quarter operating profit of approximately RMB 320 million, a decrease of 19.6% year-on-year. Tianjin Capital Environmental Protection Group (01065) reported first-quarter net profit attributable to owners of RMB 276 million, an increase of 8.49% year-on-year. WOLONG Electrical Group (09981) announced first-quarter net profit attributable to owners of approximately RMB 231 million, a decrease of 7.63% year-on-year. InnoCare Pharma (09969) reported first-quarter net profit attributable to owners of RMB 106 million, an increase of 488.93% year-on-year. Ping An Good Doctor (01833) achieved adjusted net profit of RMB 84.4 million for the first quarter, an increase of 45.8% year-on-year. Giordano International (00709) realized revenue of approximately HK$1.036 billion for the first quarter, an increase of 3.9% year-on-year.

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