HK Stock Market Move | LEGENDHOLDING (03396) rises over 7%, as the company's core assets show improving operations and its sci-tech innovation layout ushers in concentrated returns.

LEGENDHOLDING (03396) rose over 7%, up 7.33% as of press time, at HK$19.91, with a turnover of HK$212 million. On the news front, in the first half of this year, LEGENDHOLDING achieved revenue of RMB362.935 billion, up 29% year-on-year, mainly driven by significant revenue growth from its subsidiaries LENOVO GROUP and Levima Advanced Materials Corporation; net profit attributable to shareholders was RMB2.230 billion, up 219% year-on-year, driven by the recovery in the value of the investment portfolio in the industrial incubation and investment segment. Excluding one-off impacts, net profit attributable to equity holders of the company was RMB5.812 billion, up 834% year-on-year. It is worth noting that in the first half of the year, the company across its entire system pushed 12 portfolio companies to list on capital markets, covering hard tech sectors such as artificial intelligence, semiconductors, and medical devices. Looking ahead, SDIC Securities pointed out that LENOVO GROUP remains the main source of the company's profits, Levima Advanced Materials Corporation is in a capacity release period, and the industrial investment segment benefits from the recovery of the capital market and the listing of invested projects. The company's profit recovery trend is expected to continue.