HK-listed cloud service group Weimob jumps on strong growth in H1 revenue

Weimob

17/08/2021 08:07

** Shares of cloud-based commerce and marketing solutions
provider Weimob Inc  2013.HK  rise 7.4% to HK$10.7, the biggest
daily percentage gain since Aug. 10, on course to snap 3
straight sessions of decline
    ** Stock last up 2.6%; the biggest percentage gainer on Hang
Seng Tech Index  .HSTECH 
    ** Shanghai-based company says first-half revenue jumped
44.5% year-on-year to 1.38 bln yuan ($212.9 mln), while net loss
amounted to 584.3 mln yuan from 545.7 mln yuan  urn:newsml:reuters.com:*:nFWN2PN0BA
    ** Jefferies maintains "buy" on the stock on expectation
Weimob's mini-program offerings to continue resilient growth and
considering Weimob to be in a sweet spot of industrial internet
supported by strategic shareholder Tencent  0700.HK 
    ** Citi maintains "buy" rating on Weimob on solid progress
of offline digitalization while both its H1 revenue and
bottom-line above consensus
    ** The Hang Seng Tech Index  .HSTECH  drops 3.3% and the
Hang Seng Composite Index  .HSCI  falls 2.2%
    ** The Hang Seng China Enterprises Index  .HSCE  declines
2.4% and the benchmark index  .HSI  down 1.8%
    ** As of last close, the stock had fallen 28.6% this year 


($1 = 6.4812 Chinese yuan renminbi)

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