Smart energy firm Longitech sinks to over 6-year low on weak profit forecast

Xinda Investment Holdings

25/01/2019 02:54

** Shares of Longitech Smart Energy Holding Ltd  1281.HK 
plunge as much as 28.5 pct to HK$0.93, their lowest since
October 2012, after the China-based smart energy solutions
provider warns of lower yearly profit
    ** Co expects to record a 20 pct decrease in revenue and
profit for 2018 over a year earlier amid Chinese national policy
of macroeconomic control on photovoltaic power generating
stations  urn:newsml:reuters.com:*:nFWN1ZN1DU
    ** Co says fair value decrease in its financial investment
instruments and a rise in operating expenses also hit results
    ** Co says Chinese economy is under considerable downward
pressure amid China-US trade war
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 1.2 pct and the benchmark index  .HSI  gains 1.3 pct

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