HK Stock Market Move | Cssc Offshore & Marine Engineering (00317) declined by over 10% after rising. Net profit increased by nearly 70% in the first half of the year, with second quarter performance meeting expectations.

CSSC Offshore & Marine Engineering (00317) fell more than 10% after gaining earlier, reaching a drop of 8.98% at the time of writing, at HK$11.96, with a trading volume of HK$63.38 million. On the news front, CSSC Offshore & Marine Engineering announced that it expects a net profit attributable to the parent company of 790 million to 890 million yuan in the first half of the year, an increase of 50% to 69% year-on-year. Correspondingly, the net profit attributable to the parent company in the second quarter is expected to be 390 million to 490 million yuan, an increase of 15% to 44% year-on-year. Shenwan Hongyuan Group pointed out that the mid-range of the second quarter announcement is 440 million yuan, which is close to the estimated 446 million yuan in the forward-looking report, meeting expectations. During the reporting period, the shipbuilding industry maintained a high level of prosperity, with the company's order structure continuously optimized and sufficient production tasks in hand. The company has deepened its lean production management, leveraged its advantages in serialization and batch construction, continuously improved overall production and operation efficiency, and increased product gross profit year-on-year. The operating performance of joint ventures has significantly improved, and the level of dividends from shareholding companies has steadily increased, confirming a substantial increase in investment income year-on-year.