Jingu Finance News | Citic Securities (06030) morning stock price is strong, as of the time of publication, at 21.3 Hong Kong dollars, up 4.67%, with a trading volume of 0.248 billion Hong Kong dollars.

On the news front, Bocom International issued a research report indicating that in the first three quarters, Citic Securities' net income attributable to the parent company increased by 2.3% year-on-year, with the growth rate turning positive compared to the first half of the year. In the third quarter, quarterly profit increased significantly by 21.9% year-on-year, mainly benefiting from the expected policy drive boosting the stock market recovery. Self-operated investment income saw a significant increase year-on-year on a low base. The decline in light asset income in the third quarter narrowed, but net interest income decreased significantly.

Since the financial policy announcement on September 24, market confidence and risk appetite have significantly increased, with active market trading. The daily average trading volume of A-shares in October approached 2 trillion, and the margin balance continued to rise. The bank expects there to be further policy space ahead, and leading brokerages will benefit fully from active stock market transactions.

The bank raised the company's profit forecast and expects a 17.7% year-on-year increase in 2024. Based on a 1.1 times price-to-book ratio in 2025, the bank has raised the target price from 17.0 Hong Kong dollars to 25.0 Hong Kong dollars, maintaining a buy rating.