Caixin reports, Shenzhen Genvict Technologies Co., “[a] top supplier of equipment that allows cars to automatically pay highway tolls without stopping expects its profits to soar by a factor of more than 200 in this year’s third quarter, fueled by demand under a Beijing campaign to eliminate all toll booths by the end of 2020.” The article adds, “The bullish forecast sparked a rally for Genvict’s China-listed shares, which rose by their daily 10% limit on Monday. The stock has rallied 25% since late September as investors expect the company to gain major new business from the latest Beijing campaign.” (Caixin also notes, “China’s heavy government oversight frequently drives such rallies, as well as similar busts, in a country where everything was previously state-owned and the large field of remaining state-run firms still works hard to help Beijing achieve its objectives.”)
