HK-listed Bosideng falls most in 8 weeks after results

Reuters2021-06-24

** Shares of Chinese down apparel maker Bosideng International Holdings Ltd fall 4% to HK$4.61, the biggest intraday percentage decline since April 28

** Stock falls to the lowest since June 21 and on course for third consecutive session of decline

** Co says net profit surged 42.1% year on year to 1.71 bln yuan ($264 mln) for fiscal year ended in March with revenue surging 10.9% to 13.5 bln yuan

** Citi says Bosideng's net profit growth came in better than expected while revenue growth was below estimate; it believes the firm's enhanced brand equity, revamped channel and efficient supply chain to drive growth in the mid to long term

** The Hong Kong Hang Seng Commerce & Industry Index climbs 0.1%, while the Hang Seng Composite Index eases 0.1%

** Both the Hang Seng China Enterprises Index and the benchmark index slip 0.1%

** As of last close, the stock had surged 21.5% this year

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