Changes in Hong Kong stocks | Dazu CNC (03200) fell more than 7% in the intraday period, Citigroup indicated that the third quarter was relatively weak, and production capacity expansion of major customers was concentrated in the fourth quarter

The Zhitong Finance App learned that Dazu CNC (03200) fell more than 7% in the intraday period. As of press release, it decreased by 5.02% to HK$57.75, with a turnover of HK$111 million.

According to the news, Dazu CNC recently announced that revenue for the third quarter was 2,856 billion yuan, up 87.77% year on year; net profit was 587 million yuan, up 157.08% year on year, down 7% month on month. Revenue for the first three quarters was 7.841 billion yuan, up 100.90% year on year; net profit was 1,544 billion yuan, up 214.03% year on year.

Citi released a research report stating that while maintaining Dazu CNC's “buy” rating, the target price was lowered from HK$189 to HK$105. The bank raised Dazu CNC's 2026 profit forecast by 11% to reflect better-than-expected results for the first nine months of 2026, while the third quarter was relatively weak, as production capacity expansion from major customers will be concentrated in the fourth quarter; however, it slightly lowered the 2027 and 2028 profit forecasts by 1% and 3% to take into account expenses related to employee shareholder/equity incentive plans.