CMOC once rose 3.5% to reach a historical high, Morgan Stanley indicated that the net profit for the last quarter met expectations and maintained an "Overweight" rating

CMOC (03993.HK) opened 1% higher this morning (16th) and rose 3.5% at one point, reaching a historical high of HKD 23.18. It is currently reported at HKD 22.94, up 2.41%, with a trading volume of 9.3771 million shares, involving HKD 215 million.

The company issued a profit warning after the market closed yesterday, expecting a net profit attributable to shareholders for the fiscal year 2025 to be between RMB 20 billion and 20.8 billion, an annual increase of 47.8% to 53.7%. This is due to the increase in both sales and prices of the company's main products, coupled with effective control of operating costs.

Morgan Stanley indicated that CMOC's profit warning aligns with their expectations and suggests that the net profit for the fourth quarter will be between RMB 5.7 billion and 6.5 billion, representing a quarter-on-quarter growth of 2% to 16%, in line with expectations. Morgan Stanley has given CMOC's H shares an "Overweight" rating, with a target price of HKD 23.2