HK Stock Market Move | CHINA SUNTIEN (00956) rose more than 4% in the afternoon, with third quarter net profit increasing by nearly 123% year-on-year. The wind power business showed steady growth.

CHINA SUNTIEN (00956) rose over 4% in the afternoon, as of the time of writing, it has increased by 3.84% to HK$4.6, with a transaction volume of 31.7299 million Hong Kong dollars. On the news front, China Suntien Green Energy Corporation recently released its performance, achieving a total operating income of 14.445 billion yuan in the first three quarters, a year-on-year decrease of 8.51%; the net profit attributable to equity holders was 1.559 billion yuan, a year-on-year increase of 4.23%. Looking at the third quarter alone, the company achieved operating income of 3.541 billion yuan, a year-on-year decrease of 3.03%; net profit attributable to equity holders was 147 million yuan, a year-on-year increase of 122.98%. Changjiang previously released a research report stating that for the wind power business, under the policy direction of Document No. 136, the direction of protecting existing stock and stabilizing incremental expectations has become clear. The company has already clearly divested its photovoltaic business and strategically focused on the wind power business. The large number of wind power projects in the company's reserves will ensure the long-term growth of the green energy business in the backdrop of industry bottoming out; the downstream natural gas power plant projects approved by the company will increase the level of natural gas load and also directly contribute to incremental revenue. The stability of the company's natural gas business combined with its growth potential is expected to bring value.