Agile-backed A-Living drops most in 16 months on weak earnings estimate

Agile group

11/03/2024 03:23

** Shares of A-Living Smart City Services Co Ltd  3319.HK 
fall 13.9% to HK$3.28, on track for the biggest one-day pct drop
since November 2022 
    ** Stock sinks to the lowest since Feb. 21; biggest pct
loser in Hang Seng Composite Index  .HSCI  and index tracking
properties and construction stocks  .HSCIPC  
    ** The property management services arm of Agile Group
 3383.HK  estimates its 2023 net profit to be in 320-500 mln
yuan ($44.5-$69.5 mln) range, down 73%-83% from a year ago
    ** Says the drop is due to an adjustment of its business
structure with a decrease in the proportion of revenues and
profits from value-added service businesses, among others
    ** Stock of property developer Agile falls 4.2% 
    ** Hang Seng Mainland Properties Index  .HSMPI  gains 0.2%,
Hang Seng Composite Index tracking properties and construction
stocks  .HSCIPC  climbs 0.7%
    ** Hang Seng Composite Index  .HSCI  adds 1.1% and Hang Seng
Index  .HSI  rises 1.3%
    ** Stock down 5.9% YTD 


($1 = 7.1919 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))