Tiger Brokers

BUZZ-HK-listed Star Plus falls on weak first-half profit outlook

Reuters
Aug 11
BUZZ-HK-listed <a href="https://laohu8.com/S/SGU">Star</a> Plus falls on weak first-half profit outlook

** Shares of Star Plus Legend Holding 6683.HK fall 4.6% to HK$11.72, their lowest since July 29, and on course for fifth straight session of decline

** Stock marks its biggest intraday pct drop since July 31

** The intellectual property $(IP)$ creation and operation group expects its first-half profit to drop 67% y/y amid fair value loss on investments in Hong Kong-listed equity securities, which is not directly related to the group's principal business

** "Looking ahead to the second half of the year, the group will accelerate the development of self-operated IP products, advance the deployment of channels such as robot stores and IP-themed physical stores," co says

** Hang Seng Tech Index .HSTECH eases 0.2%, benchmark Hang Seng Index .HSI slips 0.1%

** YTD, stock up 141.9%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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