On August 11, LEGENDHOLDING (03396.HK) rose 5.5% in regular trading, trading at HK$17.96/share, with turnover of HK$87.73 million.

The rally was driven by the continued impact of the company's positive profit alert issued earlier this month. LEGENDHOLDING expects its net profit attributable to equity holders for the first half to be no less than RMB 2 billion, representing growth of at least 186% compared to RMB 699 million in the same period last year. The company attributed the expected profit surge to a recovery in capital markets, with its industry incubation and investment segment's investment operations turning from losses to profits.

Additionally, Citi previously raised the company's target price to HK$17 while maintaining a Buy rating, noting that the current share price still trades at approximately 78% discount to estimated net asset value per share. The combination of the earnings pre-announcement and institutional endorsement has sustained upward momentum in the stock over recent sessions, with the stock gaining over 7% on the preceding trading day.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)