Construction and Engineering

CONCH VENTURE

MiniMax

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Old guard bows out, new contender steps in. Today, HK's 'hot pick' and China's independent model developer $MINIMAX-W(00100.HK) released its FY2025 report card. However, vs. a share price up 4.5x in two months, Dolphin Research's estimated Q4 print looks softer.Let's dig in: I) Revenue — consumer slowed, enterprise accelerated; is the mix improving? A 'C down, B up' pattern points to a healthier mix.1) Revenue growth eased: FY2025 revenue totaled $79 mn (+~160% YoY), still surging. With 3Q revenue already disclosed, we can infer...

MINIMAX-W

LLM losses widened 360%, MiniMax still a 'darling'?

CONCH VENTURE released FY2025 9 Months Earnings on March 25, 2026 (BJT), with actual revenue of HKD 5.234 B and EPS of HKD 1.1267

CONCH VENTURE released FY2025 Q3 earnings on March 25, 2026 (BJT) with actual revenue of HKD 1.892 B and EPS of HKD 0.3083

CONCH VENTURE released FY2025 Q4 earnings on March 25 During-Market (BJT), actual revenue HKD 1.925 B, actual EPS HKD 0.3136

CONCH VENTURE released FY2025 earnings on March 25 During-Market (BJT), actual revenue HKD 7.156 B (forecast HKD 7.09 B), actual EPS HKD 1.4427 (forecast HKD 1.5129)

CONCH VENTURE to Release FY2025 Annual Earnings on March 25, 2026 During-Market (BJT), Forecast Revenue HKD 7.103 B, EPS HKD 1.5156

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CONCH VENTURE released FY2025 Q1 earnings on August 27, 2025 (BJT) with actual revenue of HKD 1.653 B and EPS of HKD 0.4047

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CONCH VENTURE released FY2025 Q2 earnings on August 27 During-Market (BJT), actual revenue HKD 1.689 B, actual EPS HKD 0.4159

CONCH VENTURE released FY2025 Semi-Annual Earnings on August 27 During-Market BJT, actual revenue HKD 3.342 B, actual EPS HKD 0.8183

CONCH VENTURE to Release FY2025 Semi-Annual Earnings on August 27, 2025 (BJT)

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CONCH VENTURE released FY2024 9 Months Earnings on March 26 (BJT), actual revenue 5.121 B HKD, actual EPS 1.0009 HKD

CONCH VENTURE released FY2024 Q3 earnings on March 26 (BJT), actual revenue 1.738 B HKD, actual EPS 0.2727 HKD

Conch Venture Releases 2024 Annual Performance, Revenue Decreases by 21.76% Year-on-Year

CH DEMETER FIN

FAMEGLOW

LUEN THAI

NEW GONOW RV

REF HOLDINGS

PARADISE ENT

WEBX HOLDING

HAICHANG HLDG

BEST FOOD HLDG

INTELLIMARK W27

00587

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At yesterday's close, CONCH VENTURE had a trading volume of approximately HKD 82.48 million, with trading activity showing an increase compared to previous periods. The MACD daily line confirmed a bullish signal above the zero axis, and the short-term moving averages are showing an upward divergence, which typically indicates that momentum for a phase of upward movement is building, with buying power gradually shifting from a wait-and-see approach to active participation. From recent trends, CONCH VENTURE has gained solid bottom support in the previous consolidation range, and the moderate increase in trading volume indicates a growing willingness for capital entry. On the news front, the April PMI data showed a construction industry index of 48%, which, while still in the contraction zone, indicates that the environmental protection industry, as a derivative of infrastructure investment, benefits from the ongoing promotion of the national "dual carbon" strategy. Recently, multiple regions have released supportive policies for the environmental protection industry, and demand in the solid waste treatment and resource recycling sectors continues to grow steadily. CONCH VENTURE, backed by the construction giant CONCH CEMENT, possesses unique advantages in industrial chain collaboration for solid waste co-disposal. However, the Federal Reserve's decision to maintain interest rates and continue a wait-and-see policy, combined with a decline in global risk appetite due to the situation in the Middle East, has put overall pressure on the Hong Kong stock market, with the Hang Seng Index showing weak performance yesterday and most sectors closing lower. From a technical perspective, the bullish signal above the zero axis provides directional reference for the medium-term trend, but the current level of trading volume remains moderate. To further break through previous resistance levels, a more significant increase in trading volume is needed. Today, attention should be paid to the overall market sentiment's drag effect on individual stocks, as well as any signs of concentrated capital inflow within the environmental protection sector

Technical Forecast

CONCH ENVIRO

GF China Security Environmental Protection Industry ETF

CONCH CEMENT

Hang Seng Index

Pre-market trend | CONCH VENTURE (0586.HK) 4/30 Bullish momentum gathers, is the environmental leader brewing a new round of offensive?

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IGG(00799) rose 20.88%, with a trading turnover 46.7 Million HKD, and a year-to-date fell 5.8%. ASCLETIS-B(01672) rose 12.67%, with a trading turnover 147.1 Million HKD, and a year-to-date rose 42.8%. SCIENTECH(02291) rose 11.13%, with a trading turnover 151.8 Million HKD, and a year-to-date fell 1.9%.

Top Gainers&Losers

ASCLETIS-B

SCIENTECH

ZHIDA TECH

WELLCELL HOLD

CHINARES PHARMA

LEPU BIO

CLOVER BIO-B

KINGSOFT

Top 10 HK Stock Gainers (3.26)

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CONCH VENTURE announced its 2025 annual performance, with revenue of 6.548 billion RMB (same below), an increase of 4.4% year-on-year. It recorded a net profit of 2.245 billion RMB, a growth of 11.2%, with earnings per share of 1.32 RMB. The final dividend is set at 30 HK cents

AASTOCKS

Fullgoal CSI All Share Building Materials ETF

E Fund CSI All Share Building Materials ETF

Guotai CSI All Share building Materials ETF

"Performance" CONCH VENTURE's annual net profit is RMB 2.245 billion, an increase of 11.2%, with a final dividend of HKD 0.30

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RIDGE OUTDOOR(02720) rose 53.35%, with a trading turnover 90.8 Million HKD, and a year-to-date rose 210.2%. ONEROBOTICS(06600) rose 13.82%, with a trading turnover 82.3 Million HKD, and a year-to-date rose 142%. KB LAMINATES(01888) rose 11.52%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 42.4%.

RIDGE OUTDOOR

ONEROBOTICS

KB LAMINATES

CNGR

CNBM

JIAXIN INTL RES

XINXIN MINING

WANGUO GOLD GP

ZIJIN GOLD INTL

Top 10 HK Stock Gainers (2.11)

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China Conch Environment Protection Holdings Ltd. has scheduled an extraordinary general meeting on March 6, 2026, in Wuhu, Anhui, to seek shareholder approval for two framework agreements related to connected transactions with Conch Group entities through 2028. The agreements involve industrial solid and hazardous waste treatment services and engineering design services, with annual transaction caps. The resolutions will be decided by poll under Hong Kong listing rules, impacting revenue visibility and governance compliance. The current analyst rating for the stock (HK:0587) is a Hold with a price target of HK$0.49.

Tip Ranks

CHINA ENV RES

China Conch Environment Sets March EGM to Approve New Connected Transaction Frameworks