HK-listed Weimob set for best day in two months on robust Q1 outlook

Weimob

12/05/2021 03:00

** Shares of China's cloud-based commerce and marketing
solutions provider Weimob Inc  2013.HK  rise as much as 10.4% to
HK$15.24, on course for their best session since March 11
    ** Stock last up 9.1%, on track to snap eight straight
sessions of decline; the biggest percentage gainer in the Hang
Seng Tech Index  .HSTECH  and among the 30 most actively traded
by turnover
    ** Stock had plunged 60.8% in nearly three months from its
peak at HK$33.50 on Feb. 18 to a low at HK$13.14 on May 11
    ** Shanghai-based co said its operations improved steadily
in the first quarter of 2021, with the digital commerce business
recording rapid growth and revenue from subscription solutions
more than doubling year-on-year (https://bit.ly/33OJdHL)
    ** Says the number of paying merchants increased 21.9% in Q1
from the year-earlier period and revenue from merchant solutions
increased over 50%  
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  rises 2.1%, and the Hang Seng Tech
Index  .HSTECH  increases 1.3%
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.5%, and the benchmark index  .HSI  edges down 0.01%

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