Hktv Mall Operator Hits 4: week low, co says over 20% manpower in quarantine

Hong Kong Technology Venture Co

04/03/2022 07:56

** Shares of online shopping mall operator Hong Kong
Technology Venture Co Ltd  1137.HK  fall as much as 6.4% to
HK$7.56, their lowest since Feb. 4 and down for a third straight
day
    ** Operator of shopping platform HKTV mall says over 20% of
its frontline manpower under quarantine due to them or their
close contact having been tested positive for COVID-19
 urn:newsml:reuters.com:*:nFWN2V62LA
    ** Says same goes for its business partners including
merchants, suppliers and logistics operators
    ** Says it does not expect it can have frontline manpower to
normal level in the short run, amid lockdown measures and
possible implementation of Compulsory Universal Testing scheme  
    ** Co, which saw its February gross merchandise value on
order intake jump 87.3% y/y amid the COVID outbreak, expects
order cancellation rate to increase from the current 2.5% on
difficulty in fulfilling delivery
    ** The Hang Seng consumer goods and services index  .HSCGSI 
drops 3.8% and the Hang Seng sub-index tracking information
technology firms  .HSCIIT  plunges 4.7%
    ** The Hang Seng Composite Index  .HSCI  falls 2.7% and the
benchmark Hang Seng Index  .HSI  declines 2.6%  


($1 = 7.8161 Hong Kong dollars)

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