HK-listed New Horizon Health hits one-year high on robust revenue outlook

New Horizon Health

13/01/2023 02:16

** Shares of cancer screening products developer New Horizon
Health Ltd  6606.HK  jump as much as 18.9% to HK$31.50, their
highest since Jan 18, 2022, and on track for a second session of
gains 
    ** Stock marks biggest intraday pct rise since June 23, 2022
and is the biggest pct gainer in Hang Seng Composite Index
 .HSCI  
    ** Co expects revenue for 2022 to be in 750.5 mln-782.5 mln
yuan ($111.75 mln-116.52 mln) range, up 252.7%-267.7% from a
year ago, with gross profit up in 313.2%-324.5% range and gross
profit margin increasing to 81.6%-87.4% range from 72.7% in 2021
 urn:newsml:reuters.com:*:nFWN33W3E6
    ** Daiwa says co revenue tripled 2022 numbers, beat
brokerage forecast and the firm has also experienced a great
gross margin expansion 
    ** "Upon China's reopening, we expect the market sentiment
on IVD (In vitro diagnostics) products to improve as hospitals
and health check-up centres will operate under less COVID-led
disruption in 2023," Daiwa wrote in the research note 
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.3%,
while healthcare index  .HSCIH  rises 1%
    ** Hang Seng Composite Index  .HSCI  gains 0.2% and Hang
Seng Index  .HSI  climbs 0.1%
    ($1 = 6.7158 Chinese yuan)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))