HC International (HKEX:2280)’s stock gained 29.80 percent on Friday’s closing to HK$5.01 per share, from HK$3.86 last Thursday. A total of 22.3 million shares exchanged hands.
HC International (HKEX:2280), operates online-market place and provides industrial search result prioritizing services through its business-to-business website hc360.com. It also publishes trade catalogues and yellow page directories.
What could have made investors bullish on HC International (HKEX:2280)’s stocks on Friday? No current market moving news for HC International. In fact, investors should have been bearish because the company reported revenue fall in the first half of the year.
According to its interim report released on September 15, HC International revealed revenue was approximately Rmb391.1 million, a decrease by approximately Rmb74.2 million, or 16.0 percent whe compared to the corresponding period in 2014.
Gross Profit Ratio was approximately 91.3 percent, decreased by approximately 3.4 percentage points over the same period last year.
The Group’s EBITDA* was approximately RMB71.1 million, decreased by approximately RMB62.5 million from approximately RMB133.6 million.
Profit Attributable to Equity Holders of the Company was approximately RMB41.1 million during this reporting period, while it was approximately RMB102.5 million for the same period a year before, representing a decrease of approximately 59.9 percent. The Diluted EPS was RMB0.0599, decreased by approximately 59.4 percent when compared to RMB0.1474, on a period-on-period basis. – BusinessNewsAsia.com