HK Stock Market Move | CITIC FAMC(02799) rose by over 4% again, last year's attributable net profit is expected to increase by 466% year-on-year

CITIC FAMC (02799) rose more than 4% again. As of press time, it rose by 4.55% to HKD 0.69, with a turnover of HKD 7.7248 million. In terms of news, CITIC FAMC recently announced a profit increase. According to preliminary accounting data, the Group's net profit attributable to shareholders of the company for the fiscal year 2024 is expected to be RMB 9 billion to 10 billion, an increase of 410% to 466% year-on-year. The net profit attributable to shareholders of the company for the fiscal year 2023 was RMB 1.766 billion. The main reasons for the growth in operating performance are due to adapting to industry trends, accelerating the transformation and upgrading of the core business, continuously optimizing asset structure and industry layout, as well as benefiting from the overall recovery of the capital market and steady growth in asset returns. Furthermore, the comprehensive risk management system construction has been deepened, and risk disposal and resolution have been solidly promoted, resulting in a significant improvement in asset quality and a noticeable increase in risk resistance capabilities.