Hong Kong's EC Healthcare sinks to over 7-year low on weak earnings estimates

EC Healthcare

20/11/2023 03:37

** Shares of EC Healthcare  2138.HK  drop as much as 15.3%
to HK$2.05, their lowest since August 2016
    ** Stock set for the biggest one-day pct fall since debut in
March 2016, if losses hold; biggest pct loser in Hang Seng
Composite Index  .HSCI  
    ** The medical and healthcare services provider expects its
net profit for six months ended in September to drop 80% YoY
amid decrease of Hong Kong government's subsidies, and an
increase in depreciation and amortization expenses and interest
expenses 
    ** Hong Kong's healthcare index  .HSCIH  rises 1.5%, while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
both add 1.6%
    ** Stock down 73.8% YTD 

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