作者：港湾家族办公室业务发展总监 郭家耀Kingsoft Finance News | The US stock market performed well on Thursday, supported by strong local employment data, causing funds to shift from technology stocks to traditional shares, with all three major indices closing higher. The US dollar moved upward, and the ten-year Treasury yield held at 4.41%. Gold and oil prices also showed good performance. The Hong Kong stock market's pre-market securities showed little change, with expectations for a lack of direction in the early session. The mainland stock market showed mixed development yesterday, with the Shanghai Composite Index fluctuating and closing up by 0.1%, as trading volume in both Shanghai and Shenzhen markets remained active. The Hong Kong stock market continued to see a tug-of-war between bullish and bearish trends, with the index fluctuating around the 19,500 point level and overall trading continuing to be thin. Investors are paying attention to changes in external geopolitical situations and interest rate directions, maintaining a cautious market atmosphere. Corporate performance did not bring surprises, with expectations for the index to continue fluctuating between 19,000 to 20,000 points.
Industry News
Kingsoft (03888) recently reported third-quarter earnings of 0.413 billion yuan, an increase of 13.5 times year-on-year, with revenues of 2.91 billion yuan for the period, up 41.5% year-on-year. Management pointed out that the remarkable performance of game products in the third quarter drove significant growth in the group's total revenue and operating profit, setting a historical high. Revenue from games and other businesses reached 1.708 billion yuan, an increase of 78% year-on-year and 33% quarter-on-quarter. Revenue from office software and services amounted to 1.207 billion yuan, up 10% year-on-year and 2% quarter-on-quarter. The group's operating profit was 1.144 billion yuan, a surge of 2.04 times year-on-year and a 44% quarter-on-quarter increase. The revenue from the gaming business significantly exceeded market expectations during the quarter, with the market looking forward to key game releases next year, such as "Limit Breaker," "Sword and Fairy: Zero," and "Sword and Fairy World 4," anticipating further growth potential in the gaming business, which will drive Kingsoft's valuation higher.
(I am a licensed person of the China Securities Regulatory Commission, and neither I nor any related person holds the above-mentioned shares).
Byline: Gary Kwok, Director of Business Development at Harbor Family Office
