Changes in Hong Kong stocks | The Ningde Era (03750) opened nearly 3% lower, and multiple factors disrupted profitability, and net profit fell 5.77% month-on-month in the third quarter

The Zhitong Finance App learned that the Ningde Era (03750) opened nearly 3% lower. As of press release, it fell 2.87% to HK$400, with a turnover of HK$202 million.

According to the news, on the evening of October 20, Ningde Times disclosed its 2026 three-quarter report. Revenue for the third quarter was 165.221 billion yuan, up 58.58% year on year, and net profit to mother was 21.246 billion yuan, up 14.54% year on year, and down 5.77% month on month. Profit for the third quarter fell short of market expectations, mainly affected by changes in product structure, reduction in export tax rebates, and consumption tax. Asset impairment losses increased by 1.2 billion yuan month-on-month during the same period, mostly due to inventory impairment due to fluctuations in lithium carbonate prices.

J.P. Morgan Chase recently released a research report stating that it downgraded the rating of Hong Kong stocks in the Ningde Era from “overallocated” to “neutral,” and the target price was lowered from HK$725 to HK$500. The reason was that the focus of concerns had shifted from demand to profit, the industry's profitability might deteriorate faster than expected, and industry chain profits were being redistributed.