The Zhitong Finance App learned that China Connect (03969) fell nearly 3%. As of press release, it was down 2.3% to HK$2.98, with a turnover of HK$13.529,900.

According to the news, on October 27, China Communications issued an announcement to achieve operating income of 21,033 billion yuan (RMB, same below) in the first three quarters of 2026, a year-on-year decrease of 3.28%; net profit attributable to shareholders of listed companies was 2,021 billion yuan, a year-on-year decrease of 11.53%; and basic earnings per share were 0.19 yuan.

Dongwu Securities pointed out that China Pass's revenue for the third quarter was slightly lower than the bank's forecast. In terms of period expenses, the company's expenses rate for the first three quarters of 2026 was 15.78%, +1.00pct year on year, of which the sales/management/finance/R&D expenses ratio was 2.36%/7.20%/0.32%/5.90%, and +0.05pct/+0.41pct/+0.03pct year-on-year. The company's expense ratio increased during the period. The increase in the financial expense ratio was mainly affected by the increase in interest expenses and the decrease in interest income; R&D investment in the first three quarters was 1,421 billion yuan, +6.94% over the same period last year, and R&D investment continued to increase.

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