Caixin
Nov 30, 2021 07:35 PM
BUSINESS

China Gas Tumbles Most in a Decade After ‘Big Miss’ on Earnings

Chang'an Avenue at night in Beijing. Photo: Bloomberg
Chang'an Avenue at night in Beijing. Photo: Bloomberg

(Bloomberg) — Shares of China Gas Holdings Ltd. slumped by the most in a decade, after the company reported six-month earnings that Citigroup Inc. said were a “big miss” led partly by China’s housing market slowdown.

The company’s stock dropped as much as 17% in Hong Kong, the steepest since August 2011, after announcing its net income for the six months ending in September fell 19% year on year.

 

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