HK's machinery maker Lonking at 8-mth low on weaker profit margin

Lonking Holdings

29/08/2018 04:58

** Shares of Lonking Holdings Ltd  3339.HK  fall as much as
16.5 pct to HK$2.88, the lowest since Dec. 14 after the
construction machinery maker sees a decline in its H1 profit
margin
    ** The shares later trim losses to HK$3.04, still down 12.2
pct and heading for the worst day since Oct. 3, 2011
    ** Co says gross profit margin falls 4.05 percentage points
to 23.20 pct in H1 while profit grows 41 pct as it controls
administrative expenses, operating and finance costs
 urn:newsml:reuters.com:*:nFWN1VJ0F3
    ** Co says it will fortify its control over manufacturing
cost and expense 
     ** As of 0329 GMT, about 36.35 million shares of the
Shanghai-based company change hands, compared with their 30-day
moving average of 8.44 million shares a day
    ** Hong Kong benchmark index  .HSI  edges up 0.1 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)