China Longyuan's HK shares fall most in 3 months on weak earnings estimates

China Longyuan Power

01/02/2023 03:19

** Hong Kong shares of wind power plants operator China
Longyuan Power Group Corp Ltd  0916.HK  fall as much as 6.5% to
HK$10.08
    ** Stock on track for biggest daily pct drop since Nov. 2,
2022 if losses hold
    ** Stock touches the lowest level since Jan. 3 and down for
a fourth straight session; biggest pct loser in the Hang Seng
Composite Index  .HSCI  
    ** Co expects 2022 net profit to fall 30%-40% year-on-year
to 4.5-5.2 bln yuan ($666.4-$770.1 mln) as average utilisation
hours of its wind farms decreased 
    ** Co's Shenzhen shares  001289.SZ  fall 1.7%
    ** The Hang Seng Commerce & Industry Index  .HSNC  edges up
0.02%, while the Hang Seng Composite Index on energy stocks
 .HSCIE  slips 0.5%
    ** The Hang Seng Composite Index  .HSCI  eases 0.3% and the
Hang Seng Index  .HSI  declines 0.4%
($1 = 6.7525 Chinese yuan)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))