Hong Kong-listed knitwear maker Shenzhou falls most in 17 months on weak H1 earnings

Shenzhou International group

26/08/2021 08:03

** Knitwear manufacturer Shenzhou International Group
Holdings Ltd's  2313.HK  shares fall 8.5% to HK$156.40, biggest
daily pct decline since March 2020
    ** Stock hits lowest since March 30; Company's shares
second-biggest pct decliner on both Hang Seng index  .HSI  and
Hang Seng Commerce & Industry index  .HSNC 
    ** Zhejiang, China-based Shenzhou's H1 revenue up 11.1% at
11.37 bln yuan ($1.75 bln); net profit falls 11.4% to 2.23 bln
yuan, hurt by a drop in government incentives  urn:newsml:reuters.com:*:nFWN2PW11I
    ** Company says short-term supply chain issues will affect
procurement plans and market placements 
    ** Hong Kong Hang Seng Commerce & Industry index  .HSNC 
falls 2.2%, Hang Seng Composite index  .HSCI  drops 1.7%
    ** Hang Seng China Enterprises index  .HSCE  declines 2.1%,
benchmark index  .HSI  eases 1.7%
    ** Company's shares up 12.4% this year as of last close
 ($1 = 6.4830 Chinese yuan renminbi)

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