HK-listed developer Sunshine 100 China hits near 11-mth high after earnings estimate

Sunshine 100 China Holdings

04/03/2020 04:03

** Shares of property developer Sunshine 100 China Holdings
Ltd  2608.HK  surge as much as 31.9% to HK$1.82, their highest
since April 2019 
    ** The stock later trims gain to HK$1.52, still up 10.1% 
    ** The Beijing-based company expects its profit for year
ended 2019 to exceed 2.2 bln yuan ($317.4 mln), an increase of
more than 8 times from the previous year amid gains from sale of
interest in a residential project and non-residential assets
 urn:newsml:reuters.com:*:nFWN2AW0P1
    ** Stock is down 3.5% this year, as of last close
    ** Sunshine 100 China has outperformed the Hang Seng
Property Index sector  .HSNP  by 1.4 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  gains 1.03%
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.4%, while the benchmark index  .HSI  slides 0.1%
    ($1 = 6.9314 yuan)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)