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Seven HK GEM Stocks See Solid Gains
Seven companies listed on the Growth Enterprise Market (GEM) of Hong Kong posted strong earnings growth in the three months to September 30, 2000, according to the "South China Morning Post" on November 14.
Some 16 GEM-listed companies released their quarterly results November 13. Ten companies recorded revenue growth, of which nine managed double-digit growth, while seven saw profit increase.
Among the companies to post substantial gains in net profit and revenue are Chinese satellite television operator Phoenix Satellite Television Holdings, software-maker Beijing Beida Jade Bird Universal Sci-Tech, broadband data networks and Internet backbone system provider Prosten Technology Holdings, medical clinic chain operator Town Health International Holdings and Internet start-up investor techpacific.com.
Of the 16 companies, Peking University-backed Beida Jade Bird recorded the biggest growth in net profit, which surged 2.3 times to 6.96 million yuan (US$840,000 million), compared with a loss of 1.01 million yuan (US$121,000 million) a year ago.
The software-maker's turnover in the quarter more than tripled to 14.11 million yuan (US$1.7 billion).
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