China's Nongfu jumps most in 8 months after strong H1

Nongfu Spring

26/08/2021 07:06

** Shares of Chinese packaged drinking water and beverages
producer Nongfu Spring Co Ltd  9633.HK  rise as much as 9% to
HK$42.85, the biggest daily percentage gain since Jan. 4
    ** Stock jumps to the highest since Aug. 5; the biggest
percentage gainer on the Hang Seng China Enterprises Index
 .HSCE  
    ** Zhejiang, China-based company said its first-half net
profit rose 40.1% from a year ago period to 4.01 bln yuan
($618.7 mln) and revenue jumped 31.4% to 15.2 bln yuan
 urn:newsml:reuters.com:*:nFWN2PW0MF
    ** Citi maintains "buy" on the stock, saying growth of
Nongfu Spring's H1 core net profit beat given stronger than
expected top-line growth in packaged water and tea beverage
categories
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls 2%, and the Hong Kong composite Industry Index tracking
consumer staples  .HSCICS  slips 0.3%
    ** The Hang Seng China Enterprises Index  .HSCE  drops 2%
and the benchmark index  .HSI  eases 1.5%
    ** As of last close, the stock had plunged 28.4% this year
($1 = 6.4812 Chinese yuan renminbi)

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