BUZZ-China Literature drops most in 10 months on wider loss outlook
Reuters
Feb 11
BUZZ-<a href="https://laohu8.com/S/CHLLF">China Literature</a> drops most in 10 months on wider loss outlook
** Shares of China Literature0772.HK drop 8.2% to HK$40, on track for the biggest one-day pct fall since April 7, 2025
** Stock on course to snap two straight sessions of gain
** Chinese online literature and intellectual property incubation platform expects to record loss of 750-850 mln yuan ($108.5-$123.0 ml) for 2025, as compared to 209 mln yuan loss in 2024
** Loss is mainly due to impairment of goodwill of about 1.8 bln yuan arising from the acquisition of New Classics Media in 2018
** YTD, stock up 22.8%, while Hang Seng TECH Index .HSTECH down 0.1%
($1 = 6.9107 Chinese yuan renminbi)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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