Beijing Fourth Paradigm Tech jumps most in 4 weeks as Q1 revenue grows

Phancy

29/05/2024 04:48

** Shares of Beijing Fourth Paradigm Technology Co Ltd
 6682.HK  jump as much as 13.2% to HK$56, on course for the
biggest one-day pct rise since May 2, if trend holds
    ** Stock touches the highest since May 22 on the second
session of gain
    ** The Chinese artificial intelligence platforms developer,
with current market value HK$24.06 bln ($3.1 bln), says its
total revenue for Q1 jumped 28.5% Y/Y to 828 mln yuan ($114.2
mln) and gross profit rose 21.1% Y/Y to 341 mln yuan
    ** Hang Seng Tech Index  .HSTECH  falls 1.9%, Hang Seng
Composite Index  .HSCI  eases 1.4% and Hang Seng Index  .HSI 
declines 1.6%
    ** Stock up 1.5% YTD  


($1 = 7.2481 Chinese yuan renminbi)
($1 = 7.8128 Hong Kong dollars)

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