<div id="readability-page-1"><div>Huatai Securities published a report noting that CMSC (06099.HK) +0.340 (+2.475%) Short selling $4.48M; Ratio 7.198% announced its results for 1Q26. Operating revenue reached RMB6.973 billion, up 47.96% YoY, while net profit was RMB3.271 billion, up 41.73% YoY. By segment, investment, brokerage and net interest income showed significant elasticity, rising 85%, 32% and 246% YoY, respectively, while investment banking and asset management net income recorded slight fluctuations. The company delivered strong investment performance and steady profit growth, and its A- and H-shares are both rated Buy.The broker said that, considering the significant improvement in net interest income, it has moderately raised its full-year net interest income assumptions. At the same time, given persistent external geopolitical risks and high uncertainty, it has moderately lowered assumptions for investment-related income. It forecasts net profit for 2026 to 2028 at RMB14.3 billion, RMB16.1 billion and RMB17.2 billion, respectively, compared with previous estimates of RMB14.6 billion, RMB16.6 billion and RMB17.8 billion, representing downward revisions of 2%, 3% and 3%.Taking into account the companys steady earnings growth and strong investment elasticity, Huatai Securities set TP at RMB25.29 for CMS (600999.SH) +0.050 (+0.319%) A-shares and HKD21.18 for its H-shares, compared with previous TPs of RMB23.63 and HKD19.1, and maintained a Buy rating. (ha/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-30 16:25.) (A Shares quote is delayed for at least 15 mins.)</div>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div>

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Huatai Securities reported strong investment performance for CMSCin 1Q26, with operating revenue of RMB6.973 billion (up 47.96% YoY) and net profit of RMB3.271 billion (up 41.73% YoY). The company raised its net interest income forecasts but lowered investment-related income estimates due to geopolitical risks. Revised net profit forecasts for 2026-2028 are RMB14.3 billion, RMB16.1 billion, and RMB17.2 billion, down 2-3% from previous estimates. Huatai set target prices at RMB25.29 for A-shares and HKD21.18 for H-shares, maintaining a Buy rating.

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Huatai Securities: CMSC  1Q26 Investment Performance Strong; Cuts Net Profit Forecast