HK Stock Market Move | ZOOMLION (01157) falls more than 4% again, first-quarter performance significantly affected by exchange rate, Citigroup previously pointed out short-term downside risks to the stock.

ZOOMLION (01157) fell more than 4%, reaching a decrease of 3.88% at the time of publication, reporting at 7.92 Hong Kong dollars, with a turnover of 54.34 million Hong Kong dollars. On the news front, ZOOMLION released its first quarter report for 2026. The operating income for the period was 12.952 billion yuan, an increase of 6.89% year-on-year; the net profit attributable to the parent company was 884 million yuan, a decrease of 37.30% year-on-year; the non-recurring net profit attributable to the parent company was 602 million yuan, a decrease of 31.14% year-on-year. Bohai Securities pointed out that after adjusting for exchange rate changes and land disposals, the net profit attributable to the parent company increased by more than 50% year-on-year, and the non-recurring net profit attributable to the parent company increased by more than 30% after adjusting for exchange rate changes. It is worth noting that Citigroup previously removed ZOOMLION from the "90-day catalyst watch list", expecting the company's performance in the first quarter of this year to be weak due to foreign exchange losses. The bank believes that there is short-term downside risk for the stock, but still maintains a "buy" rating with a target price of 10.8 Hong Kong dollars, as the bank holds a more optimistic view on medium- to long-term cyclically sensitive products such as lifting and concrete machinery.