HK Stock Market Move | LEGENDHOLDING (03396) rises over 10%, technology operations continue to improve, and the company's profit recovery trend is expected to continue.

LEGENDHOLDING (03396) rose over 10%. As of press time, it was up 10.31% at HK$21.82, with a turnover of HK$372 million. On the news front, market attention on the growth prospects of LENOVO GROUP's AI infrastructure business has continued to heat up, with the company's share price hitting a record high today. SDIC Securities previously noted that looking ahead, LENOVO GROUP remains the main source of profit for LEGENDHOLDING, Levima Advanced Materials Corporation is in a capacity release period, and the industrial investment segment is benefiting from a recovery in the capital market and listings of invested projects. The company's profit recovery trend is expected to continue. 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 at 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 a 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.