HK-listed home appliances developer Vesync drops on forecasting slower growth

Vesync Co

16/08/2021 03:41

** Shares of small home appliances developer and online
distributor  2148.HK  fall 12.5% to HK$12.60, their biggest
daily pct decline since Feb. 24 
    ** Stock on course to snap two consecutive sessions of
gains; sixth biggest pct decliner on Hong Kong bourse
    ** Co expects its net profit for six months ended in June to
rise 35%-50% from a year ago period due to increase in sales
generated from European market and retail channels  urn:newsml:reuters.com:*:nFWN2PK0BR
    ** That was compared to 1,025% year-on-year jump in six
months net profits of $22.5 mln the same period a year ago,
according to co's listing prospectus published in December 2020 
    ** Says interim results will be published by end-August
    ** The Hang Seng consumer goods and services index  .HSCGSI 
slips 0.8%, and the Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 3.5%
    ** The Hang Seng benchmark index  .HSI  drops 1%
    ** As of last close, the stock had surged 31.6% this year 

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