Gaush Meditech jumps most in 7 weeks on robust earnings outlook

Gaush Meditech

11/03/2024 04:04

** Shares of surgical equipment producer Gaush Meditech Ltd
 2407.HK  jump as much as 27.2% to HK$25.05, their biggest
one-day pct gain since Jan 22
    ** Stock hits the highest since March 5, and on course to
snap 8 straight sessions of losses, if trend holds
    ** Stock is the biggest pct gainer in Hang Seng Composite
Index  .HSCI  
    ** Co estimated its 2023 net profit to be in the 164.3
mln-181.5 mln yuan ($22.9-$25.2 mln) range, versus a net loss of
352.7 mln yuan in 2022, as the company did not record any fair
value losses during the period
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both rise 1.3%
    ** Stock down 39.4% YTD 

   ($1 = 7.1905 Chinese yuan)

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