China's e-cigarette maker Smoore plunges on regulatory risk concerns

China Boton

20/08/2021 04:53

** Shares of vaping device maker  6969.HK  plunge 17.2% to
HK$35.95, the biggest daily pct decline since May 26, and on
course to snap two straight sessions of gains
    ** Stock sinks to lowest since Aug. 4; biggest pct decliner
on the Hang Seng Composite Index  .HSCI  
    ** Guangdong-based firm says its H1 net profit soared 127.5%
from a year ago period to 2.98 bln yuan ($458.21 mln) with
revenue rising 79.2% to 6.95 bln yuan  urn:newsml:reuters.com:*:nFWN2PQ0M8
    ** Brokers said concerns over heightened regulatory risks in
China continue to cloud sectors such as e-cigarettes and alcohol
    ** Shares of rival China Boton Group Co Ltd  3318.HK  plunge
7.4% to HK$3.38, the lowest since May 17; Huabao International
Holdings Ltd  0336.HK  drops 6.1%
    ** Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  drops 2.9% and Hang Seng Composite Index  .HSCI  falls
1.8%
    ** The Hang Seng China Enterprises index  .HSCE  slides
1.8%, and the benchmark index  .HSI  eases 1.5%
    ** The stock has fallen 27.5% this year by last close
($1 = 6.5036 Chinese yuan renminbi)

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