China's liquor group ZJLD jumps to over 3-month peak on robust earnings outlook

ZJLD

11/03/2024 07:57

** Shares of liquor products distributor ZJLD Group Inc
 6979.HK  jump 10.4% to HK$10.38, their highest since Dec. 4
    ** Stock on track for biggest one-day pct rise since Feb. 16
if gains hold 
    ** Premium baijiu products distributor ZJLD estimates its
2023 net profit at no less than 2.3 bln yuan ($320.2 mln),
compared with a net profit of 1 bln yuan in 2022, with revenue
increasing to an estimated 7 bln yuan, from 5.9 bln yuan in 2022
 
    ** Hang Seng Consumption Index  .HSCGSI  rises 2.3%, while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
rise 1.3% each 
    ** Stock up 3.7% YTD 


($1 = 7.1838 Chinese yuan renminbi)

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