HK-listed tech group Linklogis falls as H1 loss widens

Linklogis

31/08/2021 07:50

** Shares of supply chain finance technology solutions
provider  9959.HK  Linklogis Inc fall nearly 5% to HK$10.32, 
the lowest since July 28
    ** Stock set for the biggest daily percentage decline since
Aug. 20
    ** Guangdong, China-based company reported H1 net loss of
13.03 bln yuan ($2.02 bln) versus loss of 288.70 mln yuan in the
year-ago period, with revenue easing 0.3% to 526.6 mln yuan
 urn:newsml:reuters.com:*:nFWN2PZ0A7
    ** Says it plans joint venture with Standard Chartered UK
Holdings to build a digital trade financing platform linking
institutional investors and providing liquidity support to
supply chain participants
    ** Citi upgrades the stock to "Buy/High Risk" rating from
"Neutral/High Risk" on the brighter outlook following the JV and
the firm's continued share repurchase plan 
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  rises 2.2%, and the Hang Seng Tech Index
 .HSTECH  rises 2.1%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs 1.2%
and the benchmark index  .HSI  gains 0.7%

($1 = 6.4626 Chinese yuan)

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