China's Nongfu drops to over 2-month low on profit miss

Nongfu Spring

26/03/2025 04:46

** Shares of China's packaged water and beverage producer  Nongfu Spring 9633.HK drop 11.3% to HK$32.6, their lowest since January 13

** Stock set for sixth consecutive session of fall; top pct loser on Hang Seng Index .HSI and Hang Seng China Enterprises Index .HSCE, which are up 0.3% and 0.1% respectively

** Nongfu said its 2024 profit attributable climbed 0.4% y/y, revenue up 0.5% y/y while gross profit fell 1.9% y/y

** Citi, with "buy" rating, says Nongfu's y/y flat net profit in 2024 was below consensus forecast with packaged water sales miss

** Hang Seng Consumption Index .HSCGSI gains 0.6% while index tracking consumer staples .HSCICS falls 1.3%

** Stock up 8.3% YTD

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))