China's East Buy sinks to 8-month low as first-half profit drops

East Buy Holding

25/01/2024 02:09

** Shares of China's East Buy Holding Ltd  1797.HK  drop
12.3% to HK$23.15, their lowest since May 19, and on course to
snap two sessions of gains
    ** Stock of the education and e-commerce group on track for
the biggest one-day pct fall since Dec 13, and is biggest pct
loser in the Hang Seng Tech Index  .HSTECH  and the Hang Seng
Composite Index  .HSCI  
    ** Co says its interim net profit down 57.4% YoY to 249.2
mln yuan ($34.80 mln) for the six-month period ended in
November, while revenue up 34.4% YoY to 2.8 bln yuan 
    ** Hang Seng Tech Index  .HSTECH  falls 1%, while Hang Seng
Composite Index  .HSCI  and Hang Seng Index  .HSI  both slip
0.2% 
    ** East Buy stock down 14% YTD

   ($1 = 7.1616 Chinese yuan)

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