HK Stock Market Move | CITIC FAMC (02799) opened more than 6% higher after YINGXI, expecting a net profit of 9-10 billion yuan for the full year, an increase of more than four times year on year.

CITIC FAMC(02799) opened high after the profit announcement, as of press time, it rose by 6.56%, reaching 0.65 Hong Kong dollars, with a turnover of 3.1772 million Hong Kong dollars. On the news front, on January 16, CITIC FAMC released a profit forecast. According to preliminary accounting data, the net profit attributable to the company's shareholders for the fiscal year 2024 is estimated to be between 9 billion and 10 billion yuan, a year-on-year increase of 410% to 466%. It is reported that the net profit attributable to the company's shareholders for the fiscal year 2023 was 1.766 billion yuan. The announcement shows that the reasons for the company's performance growth in fiscal year 2024 are: first, following the industry development trend, accelerating the transformation and upgrading of the main business, continuously optimizing the asset structure and industry layout, and benefiting from the comprehensive recovery of the capital market, with a steady increase in asset returns. Second, deepening the construction of a comprehensive risk management system, solidly advancing the disposal and resolution of risks, significantly improving asset quality, and significantly enhancing risk resistance capabilities.