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BUZZ-HK-listed Weimob set for best day in two months on robust Q1 outlook

05/11/2021 22:00
BUZZ-HK-listed Weimob set for best day in two months on robust Q1 outlook

** Shares of China's cloud-based commerce and marketing solutions provider Weimob Inc 2013.HK rise as much as 10.4% to HK$15.24, on course for their best session since March 11

** Stock last up 9.1%, on track to snap eight straight sessions of decline; the biggest percentage gainer in the Hang Seng Tech Index .HSTECH and among the 30 most actively traded by turnover

** Stock had plunged 60.8% in nearly three months from its peak at HK$33.50 on Feb. 18 to a low at HK$13.14 on May 11

** Shanghai-based co said its operations improved steadily in the first quarter of 2021, with the digital commerce business recording rapid growth and revenue from subscription solutions more than doubling year-on-year (https://bit.ly/33OJdHL)

** Says the number of paying merchants increased 21.9% in Q1 from the year-earlier period and revenue from merchant solutions increased over 50%

** The Hong Kong Hang Seng sub-index tracking information technology firms .HSCIIT rises 2.1%, and the Hang Seng Tech Index .HSTECH increases 1.3%

** The Hang Seng China enterprises index .HSCE climbs 0.5%, and the benchmark index .HSI edges down 0.01%


(Reuters Messaging: [email protected])