Shanghai Chicmax Cosmetic drops most on record on weak earnings estimates
18/08/2026 02:48
BUZZ-Shanghai Chicmax Cosmetic drops most on record on weak earnings estimates ** Shares of Shanghai Chicmax Cosmetic 2145.HK plunge 30.8% to HK$20, on course for biggest one-day pct drop since debut in December 2022
** Stock hits the lowest level since December 2023 in its second straight session of declines
** China-based cosmetic products manufacturer expects H1 revenue to fall 8.5%-9.5% y/y to 3.72 billion yuan-3.76 billion yuan ($551.94 million-$557.87 million) range and net profit to drop 78.4%-76.6% to 120 mln yuan-130 mln yuan
** Decrease in revenue primarily attributable to a decline in sales revenue of KANS - anti-aging skincare brand of group - co
** YTD, stock down 69.4%, benchmark Hang Seng Index .HSI down 0.9%
($1 = 6.7399 Chinese yuan)
(Reporting by Donny Kwok)
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