Shares of GF Securities Co., Ltd. (01776.HK) surged 5.94% on Wednesday morning after the company reported a significant jump in its third-quarter profits.
In its latest earnings report, the Chinese securities brokerage firm posted a net profit attributable to owners of 2.40 billion yuan ($333 million) for the three months ended September 30, an 89% increase from the same period last year. Revenue for the quarter also climbed 54% year-over-year to 7.36 billion yuan.
The strong financial performance was warmly welcomed by investors, driving GF Securities' stock up nearly 6% in Hong Kong trading. Analysts attributed the robust earnings to the company's successful efforts in expanding its business and capitalizing on China's recovering financial markets.
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