HK Stock Market Move | CMOC Group Limited (03993) opened nearly 3% higher after the announcement of its profits, with an expected year-on-year net profit growth of 55.15%-72.12%.

CMOC Group Limited (03993) opened nearly 3% higher after the announcement of positive earnings. As of the time of writing, it has increased by 2.95% to 5.94 Hong Kong dollars, with a trading volume of 869.62 million Hong Kong dollars. In terms of news, CMOC Group Limited announced positive earnings, with an expected net profit attributable to shareholders of RMB 12.8 billion to 14.2 billion in 2024. Compared to the same period last year, this represents an increase of RMB 4.55 billion to 5.95 billion, a year-on-year increase of 55.15% to 72.12%. The significant year-on-year increase in performance is primarily due to a substantial increase in the sales volume of main products, copper and cobalt, as well as a year-on-year increase in copper prices and the effects of cost reduction and efficiency enhancement measures, leading to a year-on-year increase in profit for the company.