Alibaba Health hits near 10-week peak as yearly profit soars

Recupero Etico Sostenibile SpA

28/05/2024 07:55

** Shares of Alibaba Health Information Technology Ltd
 0241.HK  jump 15.6% to HK$3.55, their highest since March 21,
and on course for the second session of gains
    ** Stock of the Alibaba-backed  BABA.N  healthcare flagship
platform on track for the biggest one-day pct rise since
December 2022, if trend holds
    ** Top pct gainer on Hang Seng Index  .HSI , Hang Seng Tech
Index  .HSTECH  and Hang Seng Commerce & Industry Index  .HSNC  
    ** Alibaba Health says its net profit for fiscal year ended
March increased 64.6% Y/Y to 883.1 mln yuan ($121.9 mln) with
revenue up 1% Y/Y to 27 bln yuan and the number of annual active
users on the platform reaching 300 million
    ** Hong Kong stock of Alibaba  9988.HK  climbs 0.4%  
    ** Alibaba Health shares down 20.5% YTD  


($1 = 7.2467 Chinese yuan renminbi)

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