Joinn Laboratories Attributes Recent Stock Surge to Robust Earnings Forecast; Hong Kong Shares Fall 7%

MT Newswires Live

07/17

Joinn Laboratories (SHA:603127, HKG:6127) said its recent stock rally could have been triggered by its half-year earnings guidance, according to a Friday filing with the Shanghai bourse.

The drug research company's closing price deviated by more than 20% across three straight trading sessions from July 14 to 16.

Joinn Lab expects its attributable profit to surge 885% to 1,377% to between 600.1 million yuan and 900.2 million yuan for the first half.

Shares fell 7% in Hong Kong during late afternoon trading, and closed 10% in Shanghai on Friday.

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