Jinwu Financial News | US stocks performed well on Thursday. Local employment data was strong, stimulating capital from technology stocks to traditional stocks. The three major indices all recorded increases and closed. The trend of the US dollar is upward, and the interest rate on US ten-year bonds remains at 4.41%, and the performance of gold and oil prices is also improving. Hong Kong stock depository securities have not changed much, and it is expected that the market will lack direction in the early stages. The mainland stock market developed individually yesterday. The Shanghai Composite Index stabilized repeatedly. The closing market rose 0.1%, and the turnover of the Shanghai and Shenzhen markets remained active. Hong Kong stocks continued to compete quietly. The index rose and fell at the level of 19,500 points, and overall transactions continued to be light. Investors are concerned about changes in the peripheral geopolitical situation and the direction of interest, and the market atmosphere remains cautious. There were no surprises in terms of corporate performance, and the index is expected to continue to rise and fall between 19,000 and 20,000 points.

Industry news
Jinshan Software (03888) recently announced a profit of 0.413 billion yuan for the third quarter, an increase of 13.5 times year-on-year. Earnings for the period were 2.91 billion yuan, an increase of 41.5% year-on-year. Management pointed out that, driven by the impressive performance of game products in the third quarter, the Group's total revenue and operating profit both achieved significant growth and reached record highs. Gaming and other business revenue was RMB 1.708 billion, up 78% year-on-year and 33% month-on-month. Office software and service business revenue was 1.207 billion yuan, up 10% year-on-year and 2% month-on-month. The Group's operating profit was 1.144 billion yuan, a sharp increase of 2.04 times year-on-year and 44% month-on-month. The revenue of the game business greatly exceeded market expectations during the season. The market expects that key games such as “Unrestricted”, “Sword Man Affairs-Zero”, and “Sword Man World 4” will be launched next year. It is expected that the game business will still have room to grow, driving Jinshan Software's valuation to rise.

(The author is a licensee of the Securities Regulatory Commission. I and related parties do not hold the above shares)

Author: Guo Jiayao, Director of Business Development, Harbour Family Office