HK shares of China e-commerce group Baozun eye record daily gain on Q1 revenue beat

Baozun

27/05/2022 04:24

** Hong Kong shares of Chinese e-commerce services and
online store operator Baozun Inc  9991.HK  jump as much as 31.3%
to HK$25 - set for biggest daily pct gain since September 2020
debut, if gains hold
    ** Stock hits the highest since March 7, on course to snap a
four-session slide; biggest percentage gainer in both the Hang
Seng Composite Index  .HSCI  and the Hang Seng sub-index
tracking information technology firms  .HSCIIT  
    ** Shanghai-based co  BZUN.O  says Q1 revenue down 1.8%
year-on-year to 1.98 bln yuan ($293.7 mln)  urn:newsml:reuters.com:*:nASA03DK9
    ** That beats an estimate for a 6.5% drop to 1.89 bln yuan
from 2.02 bln yuan a year ago - Refinitiv  urn:newsml:reuters.com:*:nL5N2XG44V  
    ** Daiwa keeps "hold" rating, saying revenue above consensus
with positive signals from rising contribution from non-Tmall
and omni-channels, which is likely to offset some offline
business disruptions during the pandemic 
    ** The Hang Seng consumer goods and services index  .HSCGSI 
climbs 1.8% and the Hang Seng sub-index on information
technology firms surges 4.2%
    ** The Hang Seng Composite Index rises 1.9% and the Hang
Seng Index  .HSI  jumps 2.6%
    ** As of last close, Baozun's Hong Kong shares had fallen
44.1% this year
($1 = 6.7407 Chinese yuan)

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