BofA Securities: Maintains CICC (03908.HK) H-share "Buy" rating, target price HK$27.6, expects Q3 net profit to rise 172% year-on-year

Zhito Finance APP has learned that BofA Securities issued a research report reiterating its "Buy" rating on CICC's (03908.HK) H-shares, maintaining the target price at HK$27.6. The bank expects CICC's third-quarter net profit to reach RMB 6.1 billion, up 172% year-on-year and 31% quarter-on-quarter, mainly driven by mark-to-market investment gains from Changxin Technology (688825.SH), with related pre-tax investment gains estimated at approximately RMB 2.7 billion; underwriting fees and derivative instrument income are also expected to record strong year-on-year growth.