Car dealer China MeiDong Auto hits record on strong H1 forecast

China MeiDong Auto Holdings

11/07/2019 04:53

** Shares of China MeiDong Auto Holdings Ltd  1268.HK  rise
as much as 9.3% to HK$5.85, their all-time high since listing in
December 2013, after the Chinese passenger vehicles distributor
forecast strong growth in first half profit
    ** Guangdong-based company expects H1 profit to rise more
than 35% from a year ago amid strong revenue growth and 
significant improvement in brand mix  urn:newsml:reuters.com:*:nFWN24A0ZV
    ** Co says to publish interim results at end-August
    ** As of Wednesday's close, the stock had risen 80.7% so far
this year
    ** China Meidong Auto has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 1.6 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  gains 0.8%
    ** The Hang Seng China enterprises index  .HSCE  climbs
1.3%, and the Hong Kong benchmark index  .HSI  rises 1.2%

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