China's Shimao Services hits all-time low as financial chief quits

Shimao Services Holdings

11/12/2023 06:30

** Shares of Shimao Services Holdings Ltd  0873.HK  fall
4.4% to HK$1.09, their lowest since debut in October 2020, on
the third straight session of decline
    ** Stock on track for the biggest one-day pct drop since
Nov. 29, if losses hold
    ** The property management arm of Shimao Group  0813.HK 
says Cai Wenwei has resigned as an executive director and chief
financial officer (CFO) effective Dec. 10 to devote more time to
his personal commitments and family 
    ** Says Pan Dongliang will serve as the chief financial
officer from Dec. 10 
    ** Shares of property developer Shimao Group climb 1.8% 
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 1.3%,
Hang Seng Index  .HSI  slips 0.6%
    ** Stock of Shimao Services down 60.3% YTD 

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