China Longyuan Power Group, a leading renewable energy company, witnessed a significant surge in its stock price on October 31, 2024, with shares soaring 6.55% on the Hong Kong Stock Exchange. This rally came amidst a broader positive sentiment in the Hong Kong market, as the Hang Seng Index rose 0.16% and the Hang Seng Tech Index climbed 0.30%.
A key driver behind China Longyuan's stock performance was the company's impressive financial results for the third quarter of 2024. According to a filing with the Shenzhen Stock Exchange, the power company reported a 42% increase in attributable profit, reaching 1.65 billion yuan, compared to 1.16 billion yuan in the same period last year. Earnings per share also saw a significant jump of 46% to 0.1957 yuan.
The surge in China Longyuan's shares was further bolstered by the growing optimism surrounding the renewable energy and electric vehicle sectors. As investors sought exposure to these burgeoning industries, stocks like Goldwind, another major player in wind power, and electric vehicle manufacturers like Li Auto and BYD Electronic also witnessed gains. The positive sentiment towards sustainable energy solutions likely contributed to the upward trajectory of China Longyuan's stock price.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。