PICC P&C Expects Net Profit to Increase by Approximately 40% to 60% Year-on-Year for the First Three Quarters

Stock News
Oct 17

Today, the National Energy Administration announced the first batch of hydrogen energy pilot projects in the energy sector. Following expert evaluations, 41 projects, including an integrated green ammonia and hydrogen production facility in the Inner Mongolia Shenen Otoqi region, are set to receive support, along with nine areas such as Changchun, Songyuan, and Baicheng in Jilin Province for hydrogen energy pilot work. The latest data shows that since initiating fuel cell vehicle demonstrations in 2021, the five key demonstration city clusters, namely Beijing-Tianjin-Hebei, Shanghai, Guangdong, Zhengzhou, and Hebei, have promoted over 20,000 fuel cell vehicles and built 200 hydrogen refueling stations. The cumulative pure hydrogen mileage has exceeded 700 million kilometers, with hydrogen accounting for more than 90% of driving distance, resulting in over 40,000 tons of hydrogen refueling and a reduction of CO2 emissions by over 38,000 tons. Experts indicate that China's fuel cell vehicles have begun to realize commercial applications, operating regularly in eight key scenarios, including trunk logistics, cold chain logistics, transport in coal mines and steel, city sanitation, construction waste transport, port transport, public transportation, and ride-hailing, forming the largest-scale demonstration of fuel cell commercial vehicles globally.

Related Hong Kong stocks in the hydrogen energy sector include Weichai Power 02338, China National Heavy Duty Truck Group 03808, CIMC Enric 03899, Aihua Tong 02402, Reshaping Energy 02570, Beijing Mechanical & Electrical Co., Ltd. 00187, Guofu Hydrogen Energy 02582, and CRRC 01766.

In market outlook, spot gold surged towards the end of trading, breaking the $4,300 per ounce mark, reaching a new historical high. In overnight trading, the Dow Jones Industrial Average fell by 301.07 points to close at 45,952.24 points, a decrease of 0.65%. The S&P 500 dropped 41.99 points to 6,629.07, down 0.63%, while the Nasdaq Composite fell 107.54 points to 22,562.54, a decline of 0.47%. Tech stocks saw mixed results, with Tesla and AMD falling over 1%, while Nvidia rose more than 1%; storage-related stocks strengthened significantly, with Micron Technology up over 5% and Western Digital up over 4%. Spot gold continued to reach historical highs, with U.S. gold stocks showing strong performance, including a rise of over 6% for Golden Field and over 5% for Newmont Mining.

Most popular Chinese concept stocks fell, with Internet Century down more than 5% and Kingsoft Cloud down over 2%. The Hang Seng Index ADRs declined, settling at 25,809.63 points, reflecting a drop of 78.88 points or 0.30%.

Spot gold accelerated its rally past the $4,300 mark, increasing nearly $100 during the day, with a gain of nearly 2.5%. COMEX gold futures for the current month rose by $103.00, or 2.45%, to $4,304.60 per ounce.

Looking ahead, private enterprises will find it easier to use oil and gas pipeline facilities. The National Development and Reform Commission and the National Energy Administration have jointly issued the "Regulatory Measures for Fair and Open Access to Oil and Gas Pipeline Facilities," which provides clear regulations for monitoring the open access of these facilities. The measures include a series of arrangements regarding ‘what to supervise, who supervises, and how to supervise’ to enhance regulation in the commonly monopolized segments of the oil and gas sector, offering strong adherence guidelines. These measures will take effect on November 1 and will facilitate the use of pipeline facilities by private businesses. Related Hong Kong stocks in the gas sector include China Resources Gas 01193, Tian Lun Gas 01600, Beijing Enterprises Holdings 00392, China Gas 00384, Kunlun Energy 00135, Xinao Energy 02688, and China National Offshore Oil 03633.

In other developments, on October 16, Southern Eastern announced the launch of a leveraged exchange-traded product tracking SK Hynix on the Hong Kong Stock Exchange. This product is the world's only leveraged exchange-traded product that tracks SK Hynix.

China CRRC 01766 is advancing its hydrogen train industry chain layout with the launch of the "Hydrogen Spring No. 1," the country's first hydrogen-powered cultural tourism train. The event, held in Changchun, marks a series of cooperative projects in urban rail transportation and clean energy. The train, developed by CRRC Changchun Railway Vehicles Co., operates on a hydrogen-powered system, with its only emission being water, thereby achieving zero carbon output.

In September, China Shenhua 01088 reported total power generation of 18.75 billion kilowatt-hours, a 16.3% decrease year-on-year. Total electricity sales for September fell by 16.6% year-on-year to 17.63 billion kilowatt-hours. In terms of coal production, the output was 27.6 million tons in September, up 0.7% year-on-year, while coal sales totaled 36.3 million tons, reflecting a year-on-year decline of 1.6%.

Baidu 09888 has launched its AI short drama generation platform into public beta on October 16, planning to support creators with a billion yuan fund, significant traffic support, and long-term IP monetization.

Pacific Basin Shipping 02343 announced a 10% increase in average daily revenue for its super handy bulk carriers in the third quarter, comparing favorably against peer benchmark contracts.

China Tower 00788 reported a net profit attributable to shareholders of RMB 8.708 billion for the first three quarters of 2025, an increase of 6.8% year-on-year, with full-year operating revenue reaching RMB 74.319 billion, up 2.6% year-on-year.

Fuyao Glass 03606 reported a net profit of approximately RMB 2.259 billion for the third quarter, marking a year-on-year increase of 14.09%. The revenue reached RMB 11.855 billion, representing an 18.86% increase.

On October 16, Alibaba 09988 announced the launch of six new AI shopping assistant applications as part of its Tmall Double 11 press conference, making this year the first fully AI-integrated Tmall Double 11.

Junshi Biosciences 01877 announced that the FDA has approved its application for the II/III phase clinical trial of JS207 for patients with non-small cell lung cancer.

NOKO D科技 00519 reported that its subsidiary signed a memorandum of understanding with HKT to jointly explore the robotics market.

PICC P&C 02328 expects its net profit for the first three quarters of 2025 to increase by approximately 40% to 60% year-on-year, based on preliminary calculations.

GCL-Poly Energy 03800 achieved profitability in its photovoltaic materials business for Q3 2025, reporting a profit of approximately RMB 960 million. This marks a turnaround from a loss of RMB 1.81 billion during the same period last year.

Horizon Pharma 02637 had a speculative trading session, closing more than 25% higher at HKD 108.1 ahead of its Hong Kong listing on October 17, with a profit of HKD 1,085 per lot before fees.

Yima Sunshine 02522 announced on October 16, 2025, that its affiliated AI company debuted the world’s first AI-assisted diagnostic product based on an image-basis model.

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