HK-listed Digital China hits over 5-year high on upbeat H1 outlook

Digital China Holdings

13/07/2020 02:56

** Shares of Hong Kong-listed Digital China Holdings Ltd
 0861.HK  jump as much as 14.4% to HK$7.48, their highest since
June 2015
    ** Integrated information technology services provider's
stock on track for a fourth straight session of gain
    ** Co expects profit of more than HK$200 mln ($25.8 mln) 
for the six months ended in June, compared with HK$0.26 mln a
year earlier, as it reduces costs and increases efficiency (https://bit.ly/3iWltru)
    ** Says its smart supply chain business has benefited from 
increasing demand in e-commerce business during the coronavirus
outbreak while its financial technology business achieved steady
growth
    ** Interim results will be published in late August 
    ** By last close, stock had surged 61.5% this year
    ** Digital China has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 42.4 percentage points in the
past month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  climbs 0.7%
    ** The Hang Seng China enterprises index  .HSCE  gains 0.5%,
while the benchmark index  .HSI  rises 0.8%
($1 = 7.7511 Hong Kong dollars)

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