HK-listed China Feihe hits new high on upbeat H1 revenue outlook

China Feihe

08/07/2020 07:58

** Shares of infant milk formula producer China Feihe Ltd
 6186.HK  rise as much as 7.5% to HK$17, their all-time high
since listing Nov. 13, 2019
    ** The stock later trims gain to HK$16.80, still up 6.2%,
heading for best day since June 16
    ** Beijing-based company expects its first-half revenue to
rise more than 40% as compared with the same period a year ago
due to substantial increase in sales volume of high-end infant
milk formula   urn:newsml:reuters.com:*:nFWN2EE0ZG 
    ** Company also says in filing to the Hong Kong bourse that
it "vigorously" denies allegations about its profits, costs and
headcount in a report by short-seller Blue Orca Capital, and it
considers the allegations "inaccurate and misleading"  
    ** Company says it reserves the right to take legal action
in connection with the report 
    ** By last close, the stock had surged 72.9% this year
    ** The Hang Seng China enterprises index  .HSCE  gains 0.9%,
while the benchmark index  .HSI  edges up 0.02%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)