Haitong Development Shares Hit Record High on 502.6% Profit Surge
Haitong Development shares rose 10% to a record high in morning trading, supported by a 502.6% jump in first-half net profit. The stock traded at RMB 13.31 with turnover of 10.82%. The company reported revenue of RMB 3.471 billion, up 92.78% year on year, and net profit of RMB 523 million.
Haitong Development shares hit an all-time high in morning trading. As of 9:48 a. m. , the stock was up 10.00% at RMB 13.31, with volume of 45.7011 million shares and turnover of RMB 599 million, representing a turnover rate of 10.82%. The company's latest total A-share market capitalization reached RMB 18.301 billion, with a free-float market value of RMB 5.623 billion.
In terms of sector performance, the transportation industry, to which Haitong Development belongs, rose 1.33% overall. Within the sector, 103 stocks advanced, led by Dazhong Transportation, Haitong Development, and COSCO Shipping Energy, which gained 10.04%, 10.00%, and 6.47%, respectively. Fourteen stocks declined, with the biggest losers being Yuanda Holding, ST Xuefa, and Jiayou International, down 1.78%, 1.36%, and 0.73%, respectively.
According to the company's interim report, first-half revenue totaled RMB 3.471 billion, up 92.78% year on year, while net profit reached RMB 523 million, up 502.60%. Basic earnings per share stood at RMB 0.3900, and the weighted average return on equity was 11.16%.