HK-listed raw milk producer YuanShengTai surges on robust earnings outlook

YuanShengTai Dairy Farm

11/02/2021 03:08

** Shares of YuanShengTai Dairy Farm Ltd  1431.HK  rise as
much as 11.1% to HK$0.90, their highest since Jan. 26
    ** Stock, last up 9.9%, is poised for its best day since
Dec. 4
    ** Heilongjiang-based raw milk producer expects to record
net profit of up to 600 mln yuan ($92.94 mln) for 2020, compared
with 223.1 mln yuan profit in 2019  urn:newsml:reuters.com:*:nFWN2KG05B
    ** Says the growth is due to reversal of impairment losses
and accrued expenses in relation to removal of a farm during the
year, and a rise in price and sales volume of domestic raw milk 
    ** The Hang Seng China enterprises index  .HSCE  slips 0.1%,
and the benchmark index  .HSI  edges down 0.03%


($1 = 6.4557 Chinese yuan renminbi)

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