HK Stock Market Move | Shenzhen Hans CNC Technology (03200) fell more than 7% intraday; Citi noted that the third quarter was relatively weak, with major customers' capacity expansion concentrated in the fourth quarter.

Shenzhen Hans CNC Technology (03200) fell more than 7% intraday. As of press time, it was down 5.02% at HK$57.75, with turnover of HK$111 million. On the news front, Shenzhen Hans CNC Technology recently announced that its third-quarter operating revenue was RMB2.856 billion, up 87.77% year on year; net profit was RMB587 million, up 157.08% year on year and down 7% quarter on quarter. For the first three quarters, operating revenue was RMB7.841 billion, up 100.90% year on year; net profit was RMB1.544 billion, up 214.03% year on year. Citi issued a research report maintaining its "Buy" rating on Shenzhen Hans CNC Technology, while cutting its target price from HK$189 to HK$105. The bank raised its 2026 earnings forecast for Shenzhen Hans CNC Technology by 11% to reflect stronger-than-expected results for the first nine months of 2026, while the third quarter was relatively weak because major customers' capacity expansion will be concentrated in the fourth quarter; however, it slightly lowered its 2027 and 2028 earnings forecasts by 1% and 3% to factor in expenses related to the employee shareholding/equity incentive plan.