Chinese bar operator Helens Int'l fall on weak H1 outlook, Daiwa downgrade

Helens International Holdings

03/08/2022 05:37

** Shares of Chinese bar operator Helens International
Holdings Co Ltd  9869.HK  fall as much as 5.3% to HK$13.18,
their biggest daily pct decline since July 11, and on course for
fourth conseuctive session of declines
    ** Guangdong-based co expects its H1 net loss widened to 290
mln-310 mln yuan ($42.96 mln-$45.92 mln), compared to net loss
of 25 mln yuan the same period last year, as COVID-19 pandemic
in China has impacted its bars operations with many of them
shutting down  urn:newsml:reuters.com:*:nFWN2ZA5QT
    ** Daiwa downgrades Helens to "hold" from "buy" and trims TP
to HK$14 from HK$16.90, saying the stock's valuation as fairly
reflecting its risk-reward profile with the near-term risks
outweighing the near-term upside potential
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
1.4% and the Hang Seng consumer goods and services index
 .HSCGSI  climbs 0.3%
    ** The Hang Seng Composite Index  .HSCI  and the benchmark
Hang Seng Index  .HSI  both gain 0.6%
    ** As of last close, the stock had dropped 26.3% this year


($1 = 6.7506 Chinese yuan renminbi)

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