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WONDERSHARE TECHNOLOGY GROUP CO., LTD.

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China tech stocks fall on gaming crackdown but resources shares jump on factory inflation

09/09/2021 | 03:24am EDT

SHANGHAI, Sept 9 (Reuters) - China stocks are mixed on Thursday, with technology shares dropping on Beijing's fresh crackdown on gaming, but resources plays surging on accelerating factory inflation.

** The Shanghai Composite Index gained 0.5% to 3,693.13 points, the highest closing level in six months. The blue-chip CSI300 index was little changed at 4,970.01 points.

** Shanghai's tech-focused STAR Market and Shenzhen's start-up board ChiNext board fell.

** Gaming and media stocks, including G-bits Network Technology and Perfect World Co tumbled, after authorities summoned gaming firms to ensure they implemented new rules for the sector. The CSI Media index dropped nearly 3%.

** Stocks seen with links to "Metaverse", a virtual shared space based on virtual reality technologies, also slumped, after their recent surge raised regulatory eyebrows and prompted state media to warn against investing in them.

** Wondershare Technology and Wahlap Technology both slumped over 10%, while Goertek lost 9%.

** But resources shares jumped to six-year highs after data showing China's factory gate inflation hit a 13-year high in August, driven by roaring raw materials prices.

** An index tracking energy stocks jumped 5.6% to the highest level in more than three years, while the CSI SWS Coal Index surged over 6%. (Reporting by Shanghai Newsroom; editing by John Stonestreet)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
G-BITS NETWORK TECHNOLOGY (XIAMEN) CO., LTD. -1.06% 335.03 End-of-day quote.-20.58%
GOERTEK INC. 1.87% 36.98 End-of-day quote.-31.65%
GUANGZHOU WAHLAP TECHNOLOGY CORPORATION LIMITED -1.73% 30.7 End-of-day quote.-49.00%
PERFECT WORLD CO., LTD. 1.41% 14.4 End-of-day quote.-29.10%
S&P/CITIC 300 INDEX 1.99% 3720.88 Real-time Quote.-18.99%
S&P/CITIC 50 INDEX 2.46% 3566.52 Real-time Quote.-16.81%
WONDERSHARE TECHNOLOGY GROUP CO., LTD. -0.44% 29.68 End-of-day quote.-46.14%
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Financials
Sales 2022 1 338 M 199 M 199 M
Net income 2022 130 M 19,3 M 19,3 M
Net Debt 2022 - - -
P/E ratio 2022 29,7x
Yield 2022 -
Capitalization 3 855 M 574 M 574 M
Capi. / Sales 2022 2,88x
Capi. / Sales 2023 2,31x
Nbr of Employees 1 365
Free-Float 61,6%
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Wondershare Technology Group Co., Ltd. Technical Analysis Chart | 300624 | CNE1000033W5 | MarketScreener
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Number of Analysts 1
Last Close Price 29,68
Average target price
Spread / Average Target -
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Managers and Directors
Tai Bing Wu Chairman & General Manager
Li Feng Hu Chief Financial Officer & Director
Wen Liang Yang Chairman-Supervisory Board
Qiu Wei Liu Director-Research & Development
Jing Hao Member-Supervisory Board
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