HK Stock Market Move | Cssc Offshore & Marine Engineering (00317) up nearly 7% in early trading. Last year's net profit increased by at least 6.3 times year-on-year. Institutions expect the company's profits to enter an explosive period.

Cssc Offshore & Marine Engineering (00317) rose nearly 7% in the morning session, up 5.63% to 10.14 Hong Kong dollars as of press time, with a turnover of 1.09 billion Hong Kong dollars. On the news front, Cssc Offshore & Marine Engineering will release its annual performance on March 29. The company previously issued a profit announcement, expecting a net profit attributable to the owners of the parent company of 3.5 billion to 4 billion yuan in 2024, an increase of 628.14% to 732.16% year-on-year. In addition, China CSSC Group is expected to extend the time to resolve industry competition issues to within 5 years from the date of the new commitment. Guosen International released a research report stating that Cssc Offshore & Marine Engineering is one of the leading companies in China's shipbuilding industry. Due to the cyclical nature of the shipbuilding industry, rising new ship prices, and benefiting from its technological advantages and a sufficient backlog of 60 billion yuan, its profitability will enter a period of explosive growth. The bank pointed out that since 4Q24, the stock price has fallen significantly due to issues such as the restructuring of the parent company. The bank believes that the company's fundamentals remain strong and expects that as its profitability improves, negative sentiment will gradually dissipate, and the stock price will resume its upward trend.