China Resources Medical drops most in 6 weeks on weak earnings estimate

China Resources Medical Holdings

29/02/2024 03:42

** Shares of China Resources Medical Holdings Co Ltd
 1515.HK  fall 7.8% to HK$4.15
    ** Stock on track for the biggest one-day pct decline since
Jan. 17, if losses hold
    ** Stock third biggest pct loser in Hang Seng Composite
Index  .HSCI  
    ** The pharmaceuticals, medical devices and consumables
distributor estimates its 2023 net profit at 250 mln yuan
($34.75 mln), as compared to restated net profit of 270 mln yuan
in 2022, amid impairment provisions related to its unit Huai’an
City Huaiyin Hospital 
   ** Hang Seng Commerce & Industry Index  .HSNC  eases 0.4%,
while Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both slip 0.1% 
    ** Stock down 13.3% YTD 


($1 = 7.1945 Chinese yuan renminbi)

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