HK's MicroPort NeuroTech rises as co expects to swing to profit for 2023

MicroPort NeuroScientific

08/01/2024 05:58

** Shares of medical devices developer and manufacturer
MicroPort NeuroTech Ltd  2172.HK  jump as much as 8.6% to
HK$10.36 
    ** Stock on course to snap four straight sessions of losses,
if gains hold
    ** Co expects a turnaround and record an adjusted net profit
of 178 mln yuan ($24.87 mln) for 2023, compared with a net loss
of 24.68 mln yuan in 2022 as its products expanded into
uncovered hospital and low-tier markets
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 2.5%,
healthcare index  .HSCIH  drops 3% and Hang Seng Index  .HSI 
declines 2.2%
    ** MicroPort stock down 21.5% YTD 
  
   ($1 = 7.1571 Chinese yuan)

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