HK-listed HBM jumps on forecasting first annual profit since debut

HBM Holdings

19/01/2024 05:43

** Shares of HBM Holdings  2142.HK  jump 8.8% to HK$1.73, on
track for biggest one-day pct gain since late-December
    ** Co says it expects net profit of $18 mln for FY23,
compared to a $137 mln net loss in 2022
    ** It would be the first time the company records an annual
profit since its listing in 2020
    ** Says improved cost control and partnerships with global
pharmaceutical firms, among others, have led to the turnaround
    ** Hong Kong's healthcare index  .HSCIH  falls 2.5%, Hang
Seng Composite Index  .HSCI  eases 0.5%, Hang Seng Index  .HSI 
slips 0.2%
    ** Stock fell 31% last year

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