HK-listed Beijing Enterprises Water hits 9-1/2-year low on weak estimates

Beijing Enterprises Water

23/08/2022 04:34

** Shares of water distribution and sewage treatment services
provider Beijing Enterprises Water Group Ltd  0371.HK  drop as
much as 8.3% to HK$2.09, the lowest since February 2013 
    ** Stock set for the biggest daily pct decline since June
13; biggest decliner in the Hang Seng Composite Index  .HSCI  
    ** Beijing Enterprises Holdings-backed company expects its
H1 net profit to drop 70% from a year ago period due to decrease
in net profit from water environmental construction services
with many of them in limited operation, forced to suspend or
delay commencement amid outbreak in the mainland  urn:newsml:reuters.com:*:nFWN2ZY19Y
    ** Co says its core water treatment business has grown
steadily during the period, the cash flow remained stable, the
production and operation were normal  
    ** Shares of Beijing Enterprises Holdings  0392.HK  slip
0.4%
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
0.8% and the Composite Industry Index on consumer staples
 .HSCICS  eases 0.7%
    ** The Hang Seng Composite Index  .HSCI  and the benchmark
Hang Seng Index  .HSI  both slip 0.7%
    ** As of last close, the stock of Beijing Enterprises Water
had fallen 24.8% this year

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