HK-listed China Resources Medical drops as annual profit plunges

China Resources Medical Holdings

29/03/2023 09:12

** Shares of China Resources Medical Holdings Co Ltd
 1515.HK  drop as much as 17.4% to HK$6.72, their lowest since
March 2
    ** Stock is the biggest pct loser in Hang Seng Composite
Index  .HSCI  
    ** The Beijing-based medical consumables distributor and
hospital management group says its 2022 net profit plunged 66.7%
year-on-year to 139 mln yuan ($20.18 mln) amid operating losses
in one of its hospital and exchange losses on yuan depreciation 
    ** Says revenue rose 26.3% to 5.62 bln yuan on improved
efficiency
    ** Hang Seng Commerce & Industry Index  .HSNC  surges 2.9%
and healthcare index  .HSCIH  climbs 0.7%
    ** The Hang Seng Composite Index  .HSCI  gains 1.7% and Hang
Seng Index  .HSI  rises 2.1%
    ** As of last close, stock up 41.3% this year

    ($1 = 6.8875 Chinese yuan)

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