Changes in Hong Kong stocks | China Metallurgical (01618) rose nearly 5%, net profit for the third quarter increased by nearly 30% year-on-year, and impairment charges narrowed markedly

The Zhitong Finance App learned that China Metallurgical (01618) was higher after the results. As of press release, it had risen 4.72% to HK$1.33, with a turnover of HK$9.0671 million.

According to the news, China Metallurgical's 2026 three-quarter report shows that in the first three quarters, it achieved operating income of 252,827 billion yuan, a year-on-year decrease of 24.55%; net profit to mother was 3.458 billion yuan, a year-on-year decrease of 12.91%. Among them, single-quarter revenue for the third quarter was 76.92 billion yuan, down 21.16% year on year; net profit from single quarter was 1,131 billion yuan, up 29.92% year on year, and 63% month-on-month.

Huatai Securities believes that China Metallurgical's profit for the third quarter exceeded its forecast (780 million yuan), mainly due to year-on-year stabilization of gross margin and a marked narrowing of impairment charges. Considering that the company is a leader in domestic metallurgical construction, it is expected to benefit if macro demand improves in the future, and maintains an “increase in holdings”/“buy” ratings for A/H shares.