BUZZ-China's Chervon Holdings jumps on robust earnings estimates

Reuters07-17

** Shares of outdoor power equipment supplier Chervon Holdings jump 17.8% to HK$20.85, on track for biggest one-day pct rise since May 10

** Stock on course to snap three consecutive session of decline

** Co says it expects net profit for six months ended in June to grow 22%-33% Y/Y to $60 mln-$65 mln, thanks to effective promotional activities, expanded scale and improved efficiency for production

** "Based on the strength of our growth during the first half of 2024, we saw a positive momentum in our profit, financial position and cash flow, and are increasingly confident in achieving our revenue growth target with improved profitability this year" - co

** More than 4 mln shares traded, compared to 30-day avg of 898,000 - LSEG data

** Hang Seng Commerce & Industry Index slips 0.1%, Hang Seng industrials index falls 1.4% while Hang Seng Index climbs 0.2%

** Stock down 17.5% YTD

($1 = 7.8059 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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