Hong Kong-listed Hengan sinks to 12-year low on weak H1 results

Hengan International

18/08/2021 09:03

** Shares of sanitary napkin and tissue paper products maker
Hengan International Group Co Ltd  1044.HK  fall 3.8% to
HK$43.10, the lowest since September 2009 
    ** Stock set for the biggest daily percentage decline since
June 30 on its third consecutive session of fall
    ** Co posts a 17.7% year-on-year drop in first-half net
profit to 1.86 bln yuan ($287 mln), with revenue falling 8.7% to
9.97 bln yuan and gross profit margin sliding to 39.4% from
44.1% the same period in 2020  urn:newsml:reuters.com:*:nFWN2PO1BM 
    ** Says the upward trend of wood pulp prices in the first
half of 2021 will exert pressure on its profitability in the
second half     
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
and the composite industry index tracking consumer staples
 .HSCICS  both gain 0.1%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs
0.8%, and the benchmark index  .HSI  gains 0.3%
    ** As of last close, shares in the Fujian-based company had
dropped 18.4 %this year
    
($1 = 6.4801 Chinese yuan)

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