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MicroPort Scientific Forecasts Up to 52% Decline in H1 Net Loss; Shares Rise 4%
Hong Kong stock market noon review: three major indexes rose and fell, the science and technology index rose 0.66%; golden industrial concept performed well with chinagoldintl rising nearly 5%; east buy volume fell more than 20%.
The Hang Seng Index rose by 1.3% at one point and closed up 0.17% at noon, while the CSI 300 fell slightly by 0.07%. The Hang Seng Technology Index rose by 0.66%, once reaching as high as 1.6%.
HK stocks surge | Microport Medical (00853) rises more than 6% during trading, expected to significantly reduce losses in the first half of the year.
Microport (00853) rose more than 6% in intraday trading. As of the time of publication, it has risen 3.93% to HKD 5.29, with a turnover of HKD 25.4134 million.
Microport (00853.HK) previously rose more than 6%, expected to narrow its mid-year loss.
Microport (00853.HK) opened at a high of 1.77% today (26th), with a peak of 5.42 yuan. It rose by 6.5% at one point, and is now reported at 5.36 yuan, up 5.3%. The trading volume was 3.3109 million shares, involving 17.6375 million yuan. The company expects a net loss of between 0.105 billion and 0.125 billion US dollars in the first half of the year, a decrease of 43% to 52% compared to the same period last year; It is expected that the adjusted net loss will be between $65 million and $75 million, a decrease of 60% to 65%. The significant reduction in losses is mainly due to the commercial promotion of the leading products, driving further increase in market share, and contribution of new product revenues.
"Profit Warning" Microport (00853.HK) significantly reduces losses, losing up to 0.125 billion US dollars in the first half of the year.
Microport (00853.HK) issued a profit warning, expected to have a net loss between 0.105 billion to 0.125 billion US dollars for the six months ending in June, a decrease of 43%-52% compared to the same period last year; expected adjusted net loss to be between 65 million to 75 million US dollars, a decrease of 60%-65%. The significant reduction in losses is mainly due to the commercialization and promotion of the group's leading products driving market share further, new product contributions to income growth, and continued steady growth in revenue, which led to an increase in gross profit. The company also maintains resource focus and significantly improves operational efficiency while completing the sale of several non-core businesses and proactively closing others.
MicroPort Scientific Foresees Major Loss Reduction
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