China Everbright Greentech sees worst session on record on weak outlook

China Everbright Greentech

11/07/2022 05:24

** Shares of environmental protection services provider
China Everbright Greentech Ltd  1257.HK  fall as much as 13.4%
to HK$1.88, the biggest intraday pct loss since debut in May
2017
    ** Stock sinks to the lowest since March 16, and on course
to snap two sessions of gains; third-biggest pct decliner in the
Hang Seng Composite Index  .HSCI  
    ** Co expects its net profit for first half of 2022 to fall
no less than 40% year-on-year amid a significant increase in raw
material costs of integrated biomass utilisation segment due to
regional control measures  urn:newsml:reuters.com:*:nFWN2YP070
    ** Says weak demand for hazardous waste and solid waste
segment and decrease in treatment unit price due to impact of
the epidemic in China also hit earnings 
    ** The Hang Seng Commerce & Industry Index  .HSNC  drops
3.5%, the Hang Seng Composite Index  .HSCI  falls 2.6% and the
Hang Seng Index  .HSI  loses 2.7%
    ** As of last close, stock down 25.9% this year

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