Ming Yuan Cloud jumps after co says no large amount of bad debts

Ming Yuan Cloud group

06/12/2023 07:51

** Shares of enterprise resource planning (ERP) solutions
provider Ming Yuan Cloud Group Holdings Ltd  0909.HK  jump as
much as 8.1% to HK$2.94, on course to snap three straight
sessions of decline
    ** Stock on track for the biggest one-day pct rise since Nov
23, if gains hold
    ** Guangdong-based co says its the business operation
remains normal with order volume contracted and payment
collection stable with no large amount of bad debts
    ** Co says it is accelerating expansion from the residential
sector to the industrial/infrastructure digitalization market,
and it has sufficient cash reserves and management team is
confident in its future prospects
    ** Hang Seng Composite Index on information technology firms
 .HSCIIT  climbs 1%, while Hang Seng Tech Index  .HSTECH  and
Hang Seng Index  .HSI  both gain 0.8%
    ** Stock down 59.5% YTD 

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