HK-listed Cathay Media drops most in over 3 months on weak earnings estimates

Cathay group

29/03/2022 06:06

** Shares of film production and higher education services
provider Cathay Media and Education Group Inc  1981.HK  drop as
much as 14.8% to HK$1.27, their biggest daily pct decline since
Dec. 16
    ** Stock extends decline for the third straight session;
second biggest decliner in the Hang Seng Composite Index  .HSCI 
    ** Co expects its 2021 net profit to drop at least 70% from
337.1 mln yuan ($52.93 mln) profit in 2020 amid a decrease in
revenue, and an increase in provision for impairment loss 
 urn:newsml:reuters.com:*:nFWN2VV0M1
    ** Stock hits lowest since March 16
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
1.4% and Hang Seng consumer goods and services index  .HSCGSI 
gains 0.8%
    ** The Hang Seng Composite Index  .HSCI  and the benchmark
Hang Seng Index  .HSI  each climb 0.5%



($1 = 6.3691 Chinese yuan renminbi)

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