HK Stock Market Move | Cssc Offshore & Marine Engineering (00317) rose more than 4% after announcing that its expected net profit attributable to equity shareholders for the year 2024 is anticipated to increase by 628.14% to 732.16% year-on-year.

Cssc Offshore & Marine Engineering (00317) rose more than 4% after a profit warning, with a gain of 4.28% at the time of writing, reaching HK$10.24 with a trading volume of HK$8.9175 million. On the news front, on January 21, Cssc Offshore & Marine Engineering announced that the company expects to achieve a net profit attributable to the owners of the parent company of RMB 350 million to 400 million in the fiscal year of 2024, an increase of 628.14% to 732.16% year-on-year. During this reporting period, the shipbuilding industry maintained a good momentum, with the company's order structure continuously improving, production tasks being full, production volume and efficiency steadily increasing, and ship product revenue and gross profit increasing year-on-year; the company's joint venture performance is improving, and the level of dividends from associated companies has increased, confirming that investment income has also increased year-on-year.