HK's Texhong Textile jumps most in over 12 years on robust H1 forecast

** Shares of yarn and garment fabrics manufacturer Texhong Textile Group Ltd jump 20.4% to HK$13.6, their biggest intraday percentage gain since April 2009

** Stock on course to snap two straight sessions of decline; the third-biggest percentage gainer on the Hong Kong bourse

** Co says its net profit for the first five months of 2021 has exceeded 1 bln yuan ($156.4 mln) on recovery of textile market demand and higher than normal product gross margin

** Net profit fell 98% to 10.5 mln yuan in H1 2020

** Says its gross margin is expected to restore to a normal level after the low-cost inventories have been fully utilized in production and sold

** Says operations of its production bases in Vietnam have not been affected by the recent upsurge of COVID-19 cases in the country

** The Hong Kong Hang Seng Commerce & Industry Index climbs 0.7% and the benchmark index gains 0.5%

** Stock had surged 69.9% this year as of last close