BUZZ-Hong Kong-listed Black Sesame jumps on robust earnings forecast

Reuters02-18
BUZZ-Hong Kong-listed Black Sesame jumps on robust earnings forecast

** Shares of Chinese intelligent vehicle solutions provider Black Sesame International Holding 2533.HK jump as much as 8.9% to HK$27.65, their highest since February 10

** Stock on course for a fourth straight session of gains

** Black Sesame expects 2024 net profit to be not less than 100 mln yuan ($13.75 mln), compared to a net loss of 4.86 bln yuan in 2023, with revenue up 44%-60% y/y to 450 mln-500 mln yuan

** Says growth due to an increase in revenue from autonomous driving products and solutions resulting from supply of chips and solutions to domestic automotive original equipment manufacturers, including BYD, Dongfeng and Geely, and suppliers

** The Hang Seng Commerce & Industry Index .HSNC rises 2.8%, an index tracking information technology firms .HSCIIT surges 3.3% and the Hang Seng Index .HSI adds 2.1%

** Black Sesame shares down 8.9% YTD

($1 = 7.2730 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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