Changes in Hong Kong stocks | Seashell-W (02423) rose more than 5%, and second-quarter results exceeded expectations, Citi is optimistic about further upward revisions in profit for the third and fourth quarter

The Zhitong Finance App learned that Seashell-W (02423) rose more than 5%. As of press release, it had risen 5.42% to HK$48.2, with a turnover of HK$360 million.

According to the news, Shell recently released results. Net revenue for the second quarter was 24.5 billion yuan, adjusted operating profit was 3.59 billion yuan, and the adjusted operating profit margin reached 14.6%, an increase of 8.5 percentage points over the previous year. The number of second-hand housing transactions on the Shell platform increased 25% year on year. The company's overall GTV reached 933.8 billion yuan, an increase of 6.3% year over year, achieving the first increase in a year.

Citi released a research report saying that Shell's second-quarter profit beat expectations, highlighting the profitability contained in the company's active operating leverage and platform model. Looking ahead to the third and fourth quarters, the bank takes into account Shell's cautious guidance, the low base for the third quarter of last year, and recent policy support. Unless there is a one-time asset impairment in the fourth quarter, it is expected that its profits will be further revised upward, driven by GTV growth. Additionally, Shell is expanding its business to housing and housing decisions, thereby strengthening its long-term competitive advantage and sustainable growth.