Shenzhou International Group Holdings Ltd

02313: XHKG (HKG)
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Shenzhou International: Profit Alert Mostly a Currency Story; Valuation Unchanged at HKD 95

Shenzhou guided that first-half profit will be down about 40% year on year. Roughly 80% of the CNY 1.2 billion decline is from currency movements, with lower government subsidies and operational and tariff-related factors accounting for 10% each. Shares rose 4% in Aug. 10 trading.

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