HK Stock Market Move | CMSC (06099) rose nearly 5% in the afternoon, with sci-tech equity investment driving performance growth; third-quarter net profit increased by more than 80% year-on-year.

CMSC (06099) rose nearly 5% in the afternoon. As of press time, it was up 4.19% at HK$12.44, with a turnover of HK$45.4506 million. On the news front, CMSC released its results: third-quarter operating revenue was RMB12.211 billion, up 58.10% year-on-year; net profit attributable to shareholders was RMB6.658 billion, up 80.65% year-on-year. For the first three quarters, operating revenue was RMB34.112 billion, up 86.98% year-on-year; net profit attributable to shareholders was RMB17.282 billion, up 94.81% year-on-year. The change in performance was mainly due to an increase in the company's investment business and brokerage business income. Huatai noted that CMSC's net investment income in Q3 alone was RMB8.044 billion, mainly due to unrealized gains from the listing of CXMT Corporation, in which its equity fund invested. The investment business contributed significantly to profit, and the sustainability of future earnings still depends on comprehensive factors such as the liquidity discount rate of equity assets and asset allocation.