On October 21, Ningde Times experienced a notable decline, with both its A and H shares plummeting by over 9%. The A shares reached a new nadir not seen since June 2025, while the H shares similarly touched a fresh low since July 2025. According to the third-quarter report released on October 20, in the initial nine months of 2026, Ningde Times reported a revenue of 442.137 billion yuan, marking a significant year-on-year (YoY) increase of 56.19%. Its net profit attributable to shareholders soared to 64.53 billion yuan, reflecting a robust YoY growth of 31.6%. However, the net profit attributable to shareholders for the third quarter alone saw a modest YoY increase of 14.54% and a quarter-on-quarter (QoQ) decline of 5%, falling short of the market's anticipation. In response, JPMorgan Chase revised its rating for Ningde Times' H shares downward to 'neutral', while retaining an 'overweight' rating for its A shares.