Chinasoft International Ltd (CFTLF)

[StockpickerCAPC]

ChinaSoft International (0354.HK) rose nearly 7% and broke the top again, with a market value of nearly HK$43 billion.

source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001e4bc

June 29, 2021 10:18 Gelonghui APP

ChinaSoft International (0354.HK), the concept stock of Huawei Hongmeng on June 29, rose by nearly 7%, reaching a record high of 14.74 Hong Kong dollars, with a substantial turnover of 300 million Hong Kong dollars and a total market value of nearly 43 billion Hong Kong dollars.

According to the latest news released by the Ministry of Industry and Information Technology, Huawei's P50 4G version has been published on the Internet, directly pre-installed with the Hongmeng system. As Huawei's largest software partner, ChinaSoft International will continue to benefit. Credit Suisse recently increased ChinaSoft International’s earnings per share growth forecast for 2022 and 2023 by 2% to 4% to reflect higher revenue, mainly due to the acquisition of Huawei and other major customers under the trend of Hongmeng and digitalization.

In addition, the Ministry of Industry and Information Technology announced a year-on-year increase of 22.6% in software business revenue and 18.3% in total profit for the first five months.