BUZZ-Shoucheng hits over 1-1/2-year peak on investing in China's robot firm

Reuters
02-24
BUZZ-Shoucheng hits over 1-1/2-year peak on investing in China's robot firm

** Shares of Shoucheng Holdings 0697.HK, which manages private funds and operates car parking asset, jump 10.1% to HK$1.97, their highest since July 2023, and on course for third consecutive session of gains

** Shoucheng says on Monday its indirectly managed Beijing Robot Industry Development Investment Fund has invested in X Square Robot Technology (Jinan) which focuses on R&D of embodied generalist model for application of general-purpose robots

** Company says it will continue to increase its investment in the robot industry

** The Hang Seng Composite Index on information technology firms .HSCIIT and the Hang Seng Tech Index .HSTECH slip 0.5% and 0.1% respectively, while Hang Seng Index .HSI adds 0.4%

** Stock up 76.9% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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