China's Morimatsu jumps most in 13 months on robust earnings outlook

Morimatsu International Holdings

04/08/2022 03:39

** Shares of Chinese pressure equipment manufacturer
Morimatsu International Holdings Co Ltd  2155.HK  jump as much
as 21.9% to HK$8.80, their biggest daily pct rise since July
2021
    ** Stock hits highest since April 1 and is on track for a
second session of gains
    ** Shanghai-based company expects its H1 net profit to rise
not less than 100% from a year ago period due to increase in
revenue resulting from expansion of business scale and an
enhanced production capacity  urn:newsml:reuters.com:*:nFWN2ZF2HU
    ** Co expects its H1 revenue to jump not less than 50% from
a year ago period due to increase in orders from the
pharmaceutical industry and raw materials of power battery
industry
    ** The Hang Seng Commerce & Industry Index  .HSNC  jumps
2.7% and the Hang Seng Composite Index on industrials  .HSCIIG 
climbs 1%
    ** The Hang Seng Composite Index  .HSCI  rises 1.8% and the
benchmark Hang Seng Index  .HSI  surges 2%
    ** As of last close, the stock had fallen 19.3% this year

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