Auto dealer China MeiDong at 4-wk high on profit jump, expansion plans

China MeiDong Auto Holdings

21/08/2018 04:14

** Shares of auto dealer China MeiDong Auto Holdings Ltd
 1268.HK  surge 30.1 pct to HK$3.50, the highest since July 23,
on its interim profit growth and business expansion plans 
    ** Co records a 46.1 pct rise in H1 profit and a 30 pct
growth in revenue  urn:newsml:reuters.com:*:nFWN1VB0FA
    ** Co plans to buy assets of six BMW sales and service
outlets in Huaibei, Suzhou, Chuzhou, Tongling, Chizhou and
Huangshan in Anhui province, as it aims to enter the
fast-growing smaller cities as a dealer of certain luxury brands
 urn:newsml:reuters.com:*:nFWN1VB0C6 
    ** As of the previous close, the stock had risen 10.25
percent so far this year
    ** China MeiDong Auto has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 18.7 percentage
points in the past one month
    ** As of 0254 GMT, about 796,000 shares of the auto dealer
change hands, compared with their 30-day moving average of 1.49
million shares a day
    ** Hong Kong benchmark index  .HSI  rises 0.5 pct

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