China Tobacco sinks to 20-month low on weak earnings forecast
22/06/2026 03:52
BUZZ-China Tobacco sinks to 20-month low on weak earnings forecast ** Shares of China Tobacco International 6055.HK fall 6.7% to HK$19.51, their lowest level since October 2024
** Stock on course for biggest one-day pct drop since April 14 in its fourth straight session of declines
** Cigarettes and tobacco leaf products distributor expects net profit to drop 10%-15% y/y for six months ending in June and revenue down 25%-30% amid lower tobacco imports and shipment delays for cigarettes export business
** YTD, stock down 41.6%, benchmark Hang Seng Index .HSI down 7.8%
(Reporting by Donny Kwok)
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