HK-listed Chaowei Power hits 1-month high on strong earnings outlook

Chaowei Power Holdings

14/02/2020 02:06

** Shares of Chinese batteries maker Chaowei Power Holdings
Ltd  0951.HK  rise as much as 11.1% to HK$2.91, the highest
since Jan. 14
    ** Co expects 2019 net profit to be not less than 550 mln
yuan ($79 mln), up from 413 mln yuan in 2018, amid an increase
in gross profit margin and lower costs  urn:newsml:reuters.com:*:nFWN2AD102
    ** Stock is down 8.4% so far this year, as of last close
    ** Zhejiang-based Chaowei Power has underperformed the Hang
Seng Commerce & Industry Index sector  .HSNC  by 3.8 percentage
points in the past one month
    ** The Hang Seng China enterprises index  .HSCE  gains 0.3%,
and the benchmark index  .HSI  climbs 0.4%

    ($1 = 6.9793 yuan)

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