Changes in Hong Kong stocks | Mingchuang Premium (09896) fell more than 7%, and the profit for the first half of the year is expected to increase by about 4% to 6% year on year. Q2 profit margin was disturbed by multiple factors

The Zhitong Finance App learned that Mingchuang Premium (09896) fell by more than 7%. As of press release, it was down 7.51% to HK$21.42, with a turnover of HK$159 million.

According to the news, Mingchuang Premium announced that revenue for the first half of this year is expected to be 114.5 billion yuan to 11.55 billion yuan, an increase of about 22% to 23% over the previous year; profit for the period is about RMB 940 million to RMB 960 million, an increase of about 4% to 6% over the previous year. Notably, the increase in operating profit was mainly due to changes in the fair value of investment in a limited partnership in the artificial intelligence industry of about $277 million, partially offset by increased sales and distribution expenses and net exchange losses of about $142 million; adjusted net profit after excluding exchange gains and losses and such fair value earnings was about $1.21 billion to $1.23 billion, a year-on-year decrease of about 1% to 3%.

Huatai Securities pointed out that the revenue side slightly exceeded the guideline range and was mainly driven by steady same-store growth; Q2 profit margins were disrupted by factors such as sales expenses for direct market development and increased interest on leasing liabilities. The adjusted net profit forecast for 2026-28 was lowered by 12%/7%/7% to 28.3/34.6/4.06 billion yuan, taking into account the large short-term impact of exchange losses and investment during the downturn in overseas direct sales markets.