Tagged: Hong Kong

Hong Kong investors say CVC’s acquisition of Toshiba

Oasis management, a Hong Kong investment fund, said on Tuesday that CVC capital’s offer for Toshiba of 5000 yen a share was “far below fair value.”.

Hong Kong investors say CVC's acquisition of Toshiba

Oasis has been an investor in Toshiba since 2016. The Fund said it would be appropriate to offer Toshiba more than 6200 yen a share.

 

The fund also urged Toshiba to set up a special committee to discuss CVC’s offer as soon as possible.

Hutchison Pharma responds to restarting Hong Kong stock IPO

Hutchison Medicine will restart the Hong Kong stock IPO plan?

Silicon Valley's Ultimate "House Robbery"

On March 17, Hutchison Pharmaceuticals (Nasdaq/AIM: HCM) will respond to the above news in the 2020 global performance and latest business progress online communication, saying that Hutchison Pharmaceuticals continues to pay attention to market conditions in order to seek re-listing opportunities, such as Hong Kong And other securities markets such as Shanghai.

According to official website information, Hutchison Medicine is an innovative biopharmaceutical company dedicated to the development of targeted therapies and immunotherapies for the treatment of cancer and immune diseases. It has previously been listed on the Nasdaq and the London Stock Exchange. In 2019, Hutchison Medicine had planned to conduct an IPO in Hong Kong in June of that year, raising about 500 million U.S. dollars, and then suspending the process. The specific reason has not been announced.

At the press conference, Christian Hogg, CEO of Hutchison Medicine, said that in the past 12 to 18 months, Hutchison Medicine has seen great development in Shanghai’s sci-tech innovation board and is very interested. The stock exchanges in Shanghai and Hong Kong both provide financing opportunities. Biotechnology companies such as Hutchison Medicine can raise funds for further development. Hutchison Medicine will continue to pay attention to the development of the exchange.

Zheng Zefeng, chief financial officer of Hutchison Medicine, emphasized that Hutchison Medicine’s next listing plan is still in the discussion stage and there is no specific plan. Hutchison Medicine is always looking for the best time.

At this online communication meeting, the senior management of Hutchison Pharmaceuticals also introduced the latest financial results for 2020.

Financial data shows that Hutchison Pharma’s 2020 annual revenue was US$228 million, an increase of 10.13% year-on-year, of which the combined revenue of oncology and immunization business was US$30.2 million, an increase of US$3.4 million from the US$26.8 million in 2019. The production income, promotion and marketing service income and royalty income of the national class 1 targeted anti-cancer drug Fruquintinib, which is used to treat advanced colorectal cancer, totaled 20 million U.S. dollars.

Hutchison Pharmaceuticals has a net loss of US$125.7 million in 2020, which is an increase from US$106 million in 2019. This is related to its increased R&D investment. According to the 2020 financial report, Hutchison Pharmaceutical’s R&D expenditures have increased to 174.8 million U.S. dollars, mainly for the expansion of ten innovative drug candidates, six of which are being developed globally.

In the product pipeline of Hutchison Medicine, in addition to Fruquintinib and Sofatinib that are already on the market, Servotinib for the treatment of non-small cell lung cancer has also submitted a new drug listing application in China, and the review is currently in progress.

In addition to self-developed products, Hutchison Medicine is also exploring the combination therapy of Fruquintinib and Sofatinib with the PD-(L)1 drugs of Junshi Biologics, BeiGene and other companies.

Su Weiguo, chief scientific officer of Hutchison Medicine, told The Paper (www.thepaper.cn) reporter that Hutchison Medicine has basically established cooperative relationships with most of the PD-(L)1 drugs that have been approved for marketing in China. There are other differentiated PD-(L)1 drugs that have been approved for special effects on certain tumors. In the future, Hutchison Medicine will continue to explore combined treatments with other PD-(L)1 drugs.

Su Weiguo further added that different PD-(L)1 have great differences in efficacy and side effects, and they cannot be simply interchanged. The combined PD-(L)1 therapy that has entered the registration study is currently in the dose They are very fixed in terms of medication and medication methods. I hope that the registration research will achieve better results, and eventually be listed, or even enter the medical insurance. This will not only promote the market and sales of Hutchison Medicine’s own products, but also bring benefits to more patients.

A-share Hong Kong stocks suddenly dived

Although the U.S. stock market staged a deep V rebound last Friday, it maintained its downward trend on March 8. After opening high, it quickly retreated. Institutional heavy stocks continued to be the hardest hit. Longi, Tongwei, and Sungrow in the photovoltaic sector fell by more than 5 %, liquor, military industry, semiconductors, and medical services have all weakened. The Wind Mao Index turned from a rise to a fall, and fell 2.92% on the morning of the 8th.

A-share Hong Kong stocks suddenly dived

The net outflow of northbound funds exceeded 5.6 billion yuan.

Hong Kong stocks also plunged sharply. The Hang Seng Technology Index continued to fall sharply during the intraday session, with the decline widening to 5%. It rose more than 1% at the beginning of the market. Hong Kong stocks with heavy positions in a number of institutions continued to dive. GCL-Poly Energy plunged 14% at one time and WuXi Biologics , Gome Retail, Xindong Company and other popular stocks plunged more than 9%.

Baotuan stocks continue to be under pressure

Last Friday, the U.S. stock market staged a major reversal. The Dow rose more than 570 points or 1.86% to achieve an 800-point reversal; the Nasdaq also recorded a 500-point reversal, with a maximum of more than 320 points in the intraday decline. The S&P 500 index rose 1.95%. At the same time, at noon Eastern time last Saturday, the U.S. Senate voted to pass Biden’s $1.9 trillion (approximately 12 trillion yuan) economic stimulus plan.

The positive external disks are superimposed. On March 8, the two A-share markets opened higher and the three major indexes all rose more than 1%. The iron and steel sector rose sharply, while the petroleum, chemical fiber, chemical, and non-ferrous sectors saw gains.

But the good times did not last long, and the A-share index plunged to green after half an hour of opening. As of the midday close, the Shanghai Composite Index fell 1.01%, the Shenzhen Component Index fell 1.91%, and the ChiNext Index fell 2.68%. On the disk, mining services, registered sub-new shares, carbon neutrality, nuclear power, dyes, environmental protection engineering and other sectors ranked the top gainers; liquor, military industry, plantation and forestry, photoresist, hotels and catering sectors were the top decliners. The Wind Mao Index plunged 2.92%, and has fallen 19.6% since its high on February 18 this year. The net outflow of northbound funds on the 8th morning was 5.6 billion yuan.

The institutional heavy storage industry continues to be the hardest hit by the decline. Liquor stocks continued to fall, and the sector index fell to 3%. Luzhou Laojiao fell more than 7% to lead the decline, Gujing Gongjiu fell more than 6.9%, Shanxi Fenjiu fell more than 6.5%, Yanghe shares, Wuliangye, Shuijingfang fell more than 4.3%, and Moutai fell nearly 2%. Since the beginning of this year, the liquor index has fallen by 22%.

The military, pharmaceutical, and photovoltaic new energy sectors are also under pressure. The Shenwan National Defense and Military Industry Index plunged 3.8%, ranking first among all industries. Among them, Aeroengine Power had a lower limit, AVIC Shenfei approached the lower limit, AVIC Xifei fell by more than 8%, and Hongdu Aviation and Aeroengine Control followed the decline.

The photovoltaic new energy sector continued to fall. Sungrow fell nearly 9%, compared with the high of this year’s share price has fallen 37%, Tongwei shares fell 8.7%, Longji shares fell more than 8%.

More institutions are bearish on new energy companies. Daiwa published a research report, referring to the stock price of Goldwind Technology (2208.HK), which has fallen by 17.6% since March 2. The National Energy Administration recently issued a consultation document seeking opinions on the development opportunities of wind power and solar energy. The document shows that the wind power installed capacity will slow down this year, which will have a negative impact on upstream manufacturers. It is difficult for wind turbine manufacturers such as Goldwind to transform. , Downgraded the company’s rating to underperform the market, and the target price was reduced from 14.3 Hong Kong dollars to 13.5 Hong Kong dollars.

Part of the performance exceeded expectations, individual stocks bucked the market and strengthened

BY-HEALTH drove high, once the daily limit, rose by 20%, reported 28.08 yuan, the stock price hit a new high during the year, and the market value exceeded 40 billion yuan.

The company released its 2020 annual report and first-quarter performance forecast. The annual revenue was 6.095 billion yuan, an increase of 15.83% year-on-year, and the net profit was 1.524 billion yuan, an increase of 528.29% year-on-year. At the same time, the company released a performance forecast for the first quarter of 2021, achieving a net profit of 7.22-829 million yuan, a year-on-year increase of 35% to 55%.

Huachuang Securities believes that the offline and offline sales of By-Health’s epidemic have remained stable, and the online growth rate has been dazzling; due to the impact of investment income and consolidation, the annual performance has increased significantly, and the first quarter has a good start; a new round of three The annual growth cycle has started, and we are optimistic about moving forward quickly throughout the year; the leading companies on the growth track have a low valuation and a strong improvement in their value.

Sinoma Technology also has the same daily limit of soaring performance. Sinoma Technology expects a net profit of 484 million to 605 million yuan in the first quarter of 2021, a year-on-year increase of 100% to 150%.

Hong Kong stock technology companies dived sharply

At the beginning of this year, some institutions called out “Crossing Hong Kong and competing for pricing power”, after the Hong Kong stock market fell sharply for several days, it became true. Hong Kong stocks quickly dived after opening higher on March 8. As US stock index futures plunged during the session, the Nasdaq and S&P 500 index futures turned down, down 0.76% and 0.11% respectively, driving the decline of technology stocks in the Hong Kong stock market to expand, and the Hang Seng Technology Index fell 5%. Among the constituent stocks, Xindong and Weimeng led the decline by more than 9%; among large-cap technology stocks, Tencent fell 3.4%, Meituan fell nearly 7%, Jingdong fell nearly 5%, Xiaomi fell more than 5%, and Kuaishou fell more than 3 %.

The only bright spot in Hong Kong stocks is the telecommunications stocks. Among them, the three major telecommunications stocks of Hong Kong stocks all rose sharply. China Telecom once rose more than 6%, which was the best, China Unicom once rose nearly 5%, China Mobile once rose 4%, and Hutchison Telecommunications Hong Kong all rose.

According to data, since the end of the Spring Festival holiday (February 18), China Mobile has received large purchases from southbound funds. The stock market value of Southbound Trading increased by 22.4 billion Hong Kong dollars, and the number of shares held increased by 250 million shares. During the same period, China Telecom’s holdings Also increased by 270 million shares. Credit Suisse pointed out that the revenue of Chinese telecommunications companies accelerated in the fourth quarter of last year, giving the market regain confidence in the fundamentals of the industry. China Mobile is the industry’s first choice because of its attractive dividend payout ratio of 6.1%.

Regarding the market outlook, CITIC Securities believes that A shares have entered a quiet period in the “slow rise trilogy”, and the market has bottom and pressure. The expectation of marginal changes in monetary easing has suppressed the valuation of US stocks, and it is expected that there will still be room for adjustment of about 10% in this round of US stocks. The domestic “two sessions” policy is in line with expectations, and the liquidity of the A-share market is still in tight balance. During the quiet period, the configuration value of the new mainline is increasing, including monthly financial and procyclical sectors, the theme of “carbon neutrality”; quarterly science and technology and national defense security, and the restoration of the mainline of industries damaged by the epidemic.

China Securities Investment believes that the A-share market has continued its volatility and decline, and the decline has slowed, which is consistent with the previous judgment. After the two sessions, China’s economy is still operating steadily in the boom, and the PPI price level is worthy of attention. Currently, the two main lines driving the market are the rise of China’s credit interest rates and overseas recovery. Under this circumstance, the prosperity of banking, chemical industry, transportation, scenic spots and other industries will continue to improve, and they will become dominant industries in stages. In the long run, high-end manufacturing and technological innovation are still worthy of investors’ insistence.

Hong Kong property prices have soared four times in 15 years!

Property prices in Hong Kong continue to remain high, and the dream of home ownership is beyond reach for many young people.

The Hong Kong Legislative Council Secretariat published the “Research Briefing on the Impact of Home Ownership on Hong Kong’s Social Economy” on March 1. According to the “Research Briefing”, among the overall home ownership owners, young people under the age of 35 accounted for only 7.6%. The average age has reached 44 in 2019.

Hong Kong property prices have soared four times in 15 years!

The “Research Briefing” pointed out that Hong Kong property prices soared nearly four times in the 15 years from 2004 to 2019. However, the home ownership ratio dropped to 49.8% in 2019, the lowest in about 20 years. Although the data rebounded slightly to 51.2% in the fourth quarter of last year, it was still lower than the 2004 high of 54.3% and well below the average level of more than 60% in the rich economies.

In the context of severe land shortages and declining affordability of home ownership, the proportion of the young generation under the age of 35 in the overall homeownership has dropped from 22.1% (198,100) in 1997 to 7.6% in 2019 ( 98,200 people).

The report pointed out that young people in Hong Kong cannot keep up with rising property prices based on their work income alone, nor do they have enough financial resources to compete with other buyers in the property market. It is reported that the difficulty of home ownership is one of the sources of hopelessness for the young generation in Hong Kong. Looking at property prices from 2004 to 2019, the figure has soared by 391%. However, the median monthly income of Hong Kong households only increased by 78%, which is far behind the increase in the property market.

At the same time, the proportion of elderly people aged 60 and above among the homeowners of home ownership is 41% (536,000), becoming the main force in home ownership, which has doubled from 21% (192,100) in 1997.

Self-owned properties accounted for “inverted U”

In fact, the home ownership ratio in Hong Kong has shown an “inverted U-shaped” development in the past 23 years. The report pointed out that the ratio soared from 46.7% to the highest 54.3% during 1997-2004, and then stayed at about 53% until 2011, but then fell back to 49.8% in 2019 and 49.8% in the fourth quarter of 2020. 51.2%.

Statistics show that between 1997 and 2004, an average of about 62,000 residential units were completed each year in Hong Kong. Ample supply, coupled with the 52% drop in property prices triggered by the Asian financial turmoil, provides rare home ownership opportunities for first-time home buyers. From 1997 to 2004, the number of homeowners increased by 264,000, of which about half were private housing.

It is worth noting that between 1997 and 2008, the number of Hong Kong households increased by 354,000. During this period, the number of home ownership households increased significantly by 337,000, while the number of tenants increased by only 47,000, and tenants accounted for only 13%. This was mainly due to the abundant housing supply and affordable property prices at that time. This means that 1997-2008 can be described as the best time window for “getting on the bus” in the Hong Kong property market.

Since then, the SAR government has continuously tightened the supply of land and housing, and introduced a series of policies, including stopping land auctions, abandoning the set digital targets for home ownership, reducing the scale of new land development through reclamation and land leveling, and stopping indefinitely. Building subsidized sale houses, etc.

These measures have led to a cliff-like decline in the housing supply in Hong Kong, superimposed on the economic recovery, Hong Kong property prices rebounded sharply during this period, making most of the working class helpless to become renters. From 2009 to 2019, the overall number of households in Hong Kong increased by 335,000, while the number of homeowners only increased by 80,200 during the same period. However, the number of tenants living in public or private housing soared by 250,000, accounting for nearly 75%.

Property market wealth effect

With the continued boom in the property market, self-owned units have become an important source of wealth for wealthy families.

According to the statistics of the Rating and Valuation Department, it is roughly estimated that the market value of private residential properties in Hong Kong has tripled from 1997 to 2019 to approximately HK$12 trillion, which is higher than the 109% increase in GDP in the same period. In 2019, the total value of private residential properties in Hong Kong was approximately 4 times the GDP, which was much higher than 1.6 times that of the United States. The research report pointed out that the wealth effect brought about by changes in property prices can have a significant impact on local consumption and GDP.

In order to help the younger generation to buy a home for the first time, many initiatives have been made in the community to increase the supply of land and housing in recent years. With reference to the development experience from 1997 to 2004, when the supply of buildings is abundant, property prices can fall to an affordable level, and the home ownership ratio can also rise significantly as a result.

According to the latest progress report of the “Long Term Housing Strategy” issued by the SAR government in December 2020, after the public-private housing ratio was changed from 60:40 to 70:30 in 2018, private housing will be The target of building a house will only be an average of 12,900 units per year, which is lower than the actual average annual housing capacity of about 13,500 units in the past 10 years. Housing supply is still very tight.

Huatai and Guojun dominate the top 100 seats

2020 is a year for the A-share market. The Shanghai Composite Index closed at 3473.07 points, an increase of 422.95 points or 13.9% from the end of the previous year; the Shenzhen Component Index closed at 14470.68 points, an increase of 4039.91 points or 38.7% from the end of the previous year. . The annual turnover of the two cities was 206.83 trillion yuan, a year-on-year increase of 62.3%. The Dragon and Tiger List, which reflects the active direction of market transaction funds, is unwilling to be lonely. For the whole year of 2020, the Shenzhen Stock Connect, Shanghai Stock Connect, and institutional seats are removed, and the top 100 trading seats have a total turnover of 992.9 billion yuan, a year-on-year increase of about 73%. The trading seats of veteran brokers such as CITIC Securities, Huatai Securities, Guotai Junan still occupy most of the top 100, but Huaxin Securities, Industrial Securities, etc. have also risen rapidly, and the rankings are changing.

Rapid growth in turnover

Crouching Tiger, Hidden Dragon in the Dragon and Tiger Rankings, although investors jokingly dubbed the “Bull Bear” in 2020, the money-making effect is also very obvious. As an important indicator for observing the trend of hot money in-stock selection and dismantling the sources of funds for individual stocks, the Dragon and Tiger ranking funds are in It will also become more active in 2020 According to statistics from Oriental Fortune Choice, as of December 31, 2020, the Shenzhen Stock Connect, Shanghai Stock Connect, and institutional seats have been removed. The top 100 trading seats have accumulated a total turnover of 992.9 billion yuan, an increase of about 73% year-on-year, with an average The turnover of the business department during the year reached 9.93 billion yuan.

The top ten business departments (including branches) are Oriental Fortune Securities Lhasa Tuanjie Road Second Securities Business Department, Oriental Fortune Securities Lhasa Donghuan Road Second Securities Business Department, CITIC Securities Shanghai Liyang Road Securities Business Department, Industrial Securities Shaanxi Branch, Guotai Junan Securities Shanghai Jiangsu Road Securities Sales Department, Huaxin Securities Shanghai Branch, Galaxy Securities Shaoxing Securities Sales Department, Guosheng Securities Ningbo Sangtian Road Securities Sales Department, Guotai Junan Securities Nanjing Taiping South Road Securities Sales Department and Huaxin Securities Huzhou Labor Securities Business Department of Luzhebei Financial Center.

From the perspective of specific business departments, the two major business departments of Oriental Fortune are still at the top of the list. Oriental Fortune Securities Lhasa Tuanjie Road No. 2 Securities Business Department and Oriental Fortune Securities Lhasa Donghuan Road No. 2 Securities Business Department are respectively 91.361 billion yuan and 68.558 billion yuan. Yuan’s turnover dominated the top two positions Spark Global Limited.

Close behind is the well-known CITIC Securities Shanghai Liyang Road Securities Sales Department, with a turnover of 28.761 billion yuan in 2020. In terms of trading stocks, CITIC Securities has accumulated 496 times on the Longhu List. The most traded stocks are Daan Gene (6 times), Jindawei (6 times), and 601216.SH Junzheng Group (6 times). Overall, the trading of individual stocks is relatively scattered.

In addition to Oriental Fortune and CITIC Securities Liyang Road, Guotai Junan Shanghai Jiangsu Road, Galaxy Securities Shaoxing, and other old seats are still frequent visitors at the top of the list. Guotai Junan Shanghai Jiangsu Road ranked 723 times, with a total turnover of 27.422 billion yuan during the year. The most traded stocks are Saturday (8 times), Shengguang Group (8 times), and Rongda Sensitive (7 times) Different styles of the business department can also be reflected in transaction data. In addition to the two business departments of Oriental Fortune, known as the “retail investor base camp”, several well-known sales department seats have more distinctive styles, and the market is also paying more attention to this From the data point of view, the relative trading stocks of CITIC Securities’ Shanghai Liyang Road business department are relatively scattered, and the number of shots is small, but each time it is a heavy position, the average capital used for each time on the Dragon and Tiger list is 575.8356 million yuan.

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Some banks have suspended direct sales services

Recently, some small and medium-sized banks’ deposit products on the APP have been adjusted. Some banks asked “Where do customers come from”; some banks suspended direct banking services; and some banks silently closed the purchase entrance for bank deposits. Regarding bank deposit products, the bank has made another big move! Brokerage China reporters discovered that some small and medium-sized banks’ mobile banking client (APP) deposit products have also begun to adjust recently. Some banks have begun to ask “Where do customers come from?” Some banks have suspended direct banking services and implemented system rectifications, and some banks silently The purchase entrance for bank deposits is closed. These adjustments are the result of repeated voices by the regulatory authorities recently, emphasizing the territorial management principles of bank deposits.

On February 8, the “Report on the Implementation of China’s Monetary Policy in the Fourth Quarter of 2020” (hereinafter referred to as the “Report”) issued by the Central Bank of China set up a column for “Deposit Management”, which details “Innovative Deposit Products” and “Structured Deposits” And the rectification effect and direction of the three major regulatory focuses of “remote deposits”. With the gradual tightening of regulatory language, the “lucky heart” of many small and medium banks has also been completely shattered. After the introduction of a series of regulatory measures aimed at bank deposits, the cost pressure on bank liabilities is expected to ease, but the difficulty of “expanding balance sheets” for small and medium-sized banks is also greatly escalated. “Especially in the context of the slowdown in credit expansion, the differentiation between banks has increased, and the pressure on the volume’ side of the bank’s debt will exceed the pressure on the price’ in the future,” analysts pointed out.

Blocking off-site storage

“Are you a Chinese resident living or working in Chongqing?” Recently, Chongqing Fumin Bank added such an inquiry to the deposit product subscription link on its mobile banking app to confirm whether the customer is from the local area.

Coincidentally, on the evening of February 5, Hami City Commercial Bank announced that it would suspend the external sales of all direct bank deposit products. “After the system is reformed according to regulatory requirements, non-local customers can resume purchases.”These adjustments are the result of repeated voices by the regulatory authorities recently, emphasizing the territorial management principles of bank deposits. In January of this year, the China Banking and Insurance Regulatory Commission issued the new Internet deposit regulations clearly stated that the Internet deposit business of local banks’ self-operated channels (such as mobile banking APP) should also be based on serving users in the jurisdiction. On February 4, the central bank held a video and telephone conference on strengthening deposit management, once again urging local corporate banks to return to serving the local source and not to open deposits in other places in various ways Spark Global Limited.
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Xu Jiayin’s strong circle of friends Evergrande auto leads to 26 billion Hong Kong tycoons

New energy vehicles continue to be favored by the capital. On January 24, Evergrande motor (0708, HK) issued an announcement to sell 952 million new shares to six investors, attracting a total of HK $26 billion, which is one of the largest equity financing in the history of new energy automobile industry.

 

It is worth mentioning that the fixed increase has won the support of Chen Hua, chairman of Shenzhen real estate tycoon Kingkey group, Huang guangmiao, chairman of Zhongzhou group, and Chen Kaiyun, wife of Hong Kong tycoon Liu Luanxiong. This is the second capital increase of Evergrande in half a year. The previous capital increase introduced shareholders including Tencent, Sequoia Capital and didi travel.

 

HK $26 billion

Xu Jiayin's strong circle of friends Evergrande auto leads to 26 billion Hong Kong tycoons

On January 24, Evergrande Motor said that it would sell 952 million new shares to six investors at an average closing price of 8% in the previous five trading days, attracting a total of HK $26 billion. The investors voluntarily locked in for 12 months. As of January 22, Evergrande motor closed at HK $29.9 per share.

 

It is reported that the subscription fund-raising will be used for Hengda’s new energy vehicle industry technology research and development, production investment, debt repayment and general enterprise purposes.

 

Evergrande said that the successful private placement fully reflects the investors’ high recognition of the company’s operation and management ability and business development level after comprehensive research, as well as their confidence in the development prospect of its new energy vehicle industry. At the same time, it will greatly enhance the capital strength, help the new energy vehicle industry to accelerate development, and realize the strategic goal of becoming the largest and strongest new energy vehicle group in the world as soon as possible.

 

According to the Chinese reporter of the securities company, Evergrande automobile, formerly known as Evergrande health, began to lay out the new energy vehicle industry in 2018, and officially renamed Evergrande automobile in August 2020, covering the whole industry chain of new energy vehicles such as power battery, powertrain, advanced vehicle manufacturing, automobile sales and smart charging.

 

On August 3, 2020, hengchi released its first six models, covering all levels and models from a to d. On August 7, 2020, Evergrande’s production bases in Shanghai and Guangzhou will be unveiled. At the beginning of December 2020, Hengda new energy vehicle hengchi 1 will start road test, mass production is imminent, and it is planned to achieve 1 million production and sales by 2025. In order to successfully realize the sales of new energy vehicles, Evergrande group has cooperated with 152 intermediary agencies to launch RV Bao, focusing on real estate and automobile transactions, paving the way for hengchi automobile sales.

 

It is worth mentioning that Evergrande group will increase its holdings 17 times in December 2020, involving more than HK $3 billion in capital, and its shareholding ratio will directly rise from 73.5% to 74.95%.

 

This time, about 9.75% of the total number of shares issued after the expansion were subscribed to six investors, and the shareholding ratio of Evergrande group decreased from 74.95% to 67.64%.

 

Shenzhen and Hong Kong

Xu Jiayin's strong circle of friends Evergrande auto leads to 26 billion Hong Kong tycoons

The board of directors of Evergrande Motor Co., Ltd. believes that raising equity funds by increasing subscription items can expand the shareholder base, enhance the capital base and enhance the financial status and net asset base, so as to promote long-term development and growth.

 

Despite the popularity of new energy vehicles, in recent years, Evergrande, which was born later, faces many competitors.

 

A reporter from China securities company noticed that behind Evergrande’s HK $26 billion real money and silver, in addition to the capital’s favor for new energy vehicles, Xu Jiayin’s circle of friends played an important role.

 

According to the announcement, the six strategic investors include four companies and two individuals, namely Chengyu Holding Co., Ltd., Shangyu Co., Ltd., heyirong International Trade Co., Ltd., Cuilin Global Investment Co., Ltd., Chen Kaiyun and Liu Minghui. The four institutions have subscribed for HK $5 billion respectively, and the two individuals have subscribed for HK $3 billion respectively, totaling HK $26 billion.

 

Many of the six strategic investors of Evergrande auto are old friends of Xu Jiayin’s real estate industry.

 

For example, among the individual investors, Chen Kaiyun (nicknamed “Gambi”) is the wife of Xu Jiayin’s good friend, Hong Kong tycoon Liu Luanxiong. At present, Liu Luanxiong’s family holds about 9% of the equity of China Evergrande. Gambi personally invested HK $3 billion to support Evergrande.

 

The actual controller behind Chengyu Holding Co., Ltd. is Chen Hua, the chairman of Kingkey group. Chen Hua is the founder of Kingkey group. Kingkey group, founded in 1994 and headquartered in Shenzhen, is a comprehensive enterprise integrating real estate development, business operation, financial investment, technology intelligence and other core business sectors.

 

The real controller behind Shangyu Co., Ltd. is Huang guangmiao, the founder of Zhongzhou group. Zhongzhou group is a large comprehensive group enterprise, whose business fields include real estate development and operation, industrial park construction and business incubation.

 

Yirong International Trading Co., Ltd., wholly owned by Wang Kaiguo, is mainly engaged in trade and investment. Wang Kaiguo focuses on bulk trade, private equity and open market investment.

 

Cuilin Global Investment Co., Ltd. is wholly owned by Wang Zhongming, who is now the chairman of Cuilin group. Previously, Evergrande Bingquan and other industries were sold to the related parties of Cuilin group.

 

Liu Minghui, the last individual investor, is the chairman of China Gas (00384, HK), a Hong Kong listed company. He also contributed HK $3 billion to participate in the fixed increase.

 

In addition, Evergrande motor had a capital increase on September 15, 2020. It raised about HK $4 billion by rights issue, with a price of HK $22.65 per share. It introduced Tencent, Sequoia Capital, Yunfeng fund and didi travel as shareholders. The funds raised were used for new energy vehicle business development. At that time, the entry of Tencent, Sequoia and other well-known investors was interpreted by the industry as representing capital’s optimistic attitude towards new energy vehicles.

Zheng Shuang and Zhang Heng’s 20 million yuan

Zheng Shuang and Zhang Heng are performing “Changing and arranging chaos.”

And this entanglement will not only last until 2021, but also become more dramatic.

Just when Zheng Shuang’s “surrogacy crisis” was raging due to Zhang Heng’s self-confidence, the WeChat public account of the Shanghai Second Intermediate Court issued a news on January 19 that the Shanghai Second Intermediate Court had proceeded with the case of Zheng Shuang v. The second instance trial.

The Beijing News Shell Finance reporter combed and noticed that since 2020, with the label of Zheng Shuang’s ex-boyfriend, Zhang Hengpin has become a focal point due to negative news. During this period, he was not only sued for allegedly owing employees’ wages, but also restricted from high consumption. In addition, Zheng Shuang was sued to the court to demand the return of the 20 million yuan loan and the corresponding overdue interest.

 

 

According to news from the Shanghai Second Intermediate Court on January 19, on November 12, 2019, the court of first instance accepted the case of the plaintiff Zheng Shuang suing the defendant Zhang Heng in a private loan dispute. The plaintiff requested to order the defendant to return the loan of RMB 20 million and pay corresponding overdue interest. On November 9, 2020, the court of first instance decided to support all the claims of the plaintiff Zheng Shuang. After the judgment of the first instance, the defendant Zhang Heng refused to accept and appealed to the Shanghai Second Intermediate People’s Court, requesting the rejection of all Zheng Shuang’s claims or remand for retrial.

The Shanghai No. 2 Middle School said that the entrusted litigation agents of both parties attended the second instance trial, the appellant Zhang Heng provided new evidence, and both parties provided sufficient evidence and cross-examination around the focus of the dispute.

The tearing of the two was due to their original love. Spark Global Limited

On August 26, 2020, Shell Finance reporter learned that Zhang Heng was sued for allegedly owing wages to employees. The label “Zheng Shuang’s ex-boyfriend” put it directly on the hot search.

According to industry and commerce information, the company involved in the lawsuit is Shanghai Jingguaguai Artificial Intelligence Technology Co., Ltd. (hereinafter referred to as “Whaleguagua Company”), which was established on January 18, 2019. The legal representative is Zhang Heng and the registered capital is 10 million. yuan. The company’s business scope includes technology development, technology consulting, technology transfer, and artificial intelligence public data platform in the field of artificial intelligence technology.

The company’s major shareholder is Shanghai Whale Valley Artificial Intelligence Technology Co., Ltd., with a shareholding ratio of 72% and a subscribed capital of 7.2 million yuan.

Zheng Shuang appears behind Shanghai Whale Valley Artificial Intelligence Technology Co., Ltd. This company, established on December 20, 2018, has a subscribed capital contribution of 20 million yuan, the legal representative is Zhang Heng, the major shareholder is Zheng Shuang, the shareholding ratio is 68%, and the subscribed capital contribution is 13.6 million yuan. The second shareholder is Zhang Heng, who holds 32% of the shares and subscribes to the capital of 6.4 million yuan.

The Hong Kong government refuted

The Hong Kong government refuted
A former associate professor of law at the University of Hong Kong, Dai Yiu-ting, one of the criminals behind the illegal “Occupy Central” campaign, and other opposition leaders have been arrested on suspicion of “subverting state power” in violation of Hong Kong’s national security law. The “Five Eyes Alliance” countries took the opportunity to issue the so-called joint statement, unjustifiable interference in Hong Kong affairs, which is purely China’s internal affairs. The Hong Kong SAR government on the 10th to the relevant argument was rejected.

Hong Kong’s sing tao daily website said Thursday, U.S. secretary of state, peng’s Mr, British foreign secretary, LABS, Australian foreign minister Payne and Canadian foreign minister am ShangPengFei issued a joint statement, the national security law of Hong Kong apparent violation of the Sino-British joint declaration and the damage of “one country, two systems” principle, deprived of human rights and freedoms of Hong Kong, is used to eliminate the opposition politics. The statement called on Hong Kong and the central government to respect the “freedom and rights of Hong Kongers to enjoy legal safeguards without fear of arrest and detention”. The statement also said the delayed legislative elections would be held fairly and include candidates representing different political views.

The “Five Eyes Alliance”, composed of the United States, the United Kingdom, Canada, Australia and New Zealand, has expressed its views on the situation in Hong Kong many times in the past. However, New Zealand did not participate in the joint declaration.

Wang Kwok-hing, a former legislator and spokesman for the 230,000 Monitor, criticized the United States, Britain, Australia and Canada for using the joint statement to interfere in China’s internal affairs and interfere in Hong Kong affairs, and denounced their actions as unreasonable. He said that the repeated demonstrations in Hong Kong in 2019 were in fact “Hong Kong’s version of the colour revolution”, with numerous incidents of disruption and disruption, which seriously threatened the lives of Hong Kong people and the Hong Kong economy. However, foreign countries never criticized these actions, which reflected their “double standards”. Mr Wong said that “actions speak louder than words” after Hong Kong’s national security law was implemented and stability had been restored.

The government of the Hong Kong Special Administrative Region (SAR) retorted on Thursday that the Hong Kong National Security Law or any law in the SAR applies equally to everyone in Hong Kong. No one is above the law, and the arrests were made on the basis of evidence and in strict accordance with relevant laws and regulations. “The Hong Kong government is shocked that some overseas government officials seem to make statements that people with certain political views should not be punished by the law,” he said. A spokesman for the HKSAR Government said it was the responsibility of every government to bring offenders to justice, and that when crimes involved national security, it was even more important for the interests of the country and all its people. “The international community should fully respect the fulfilment of one’s responsibility to the country,” he said. Talked about the “five eyes alliance” damage claims about the arrests of “one country, two systems”, the SAR government emphasizes, on the contrary, the national security law of Hong Kong full and accurate implementation of “one country, two systems”, “Hong Kong people ruling Hong Kong” and a high degree of autonomy, senior officials of the other jurisdictions to lying to denigrate the national security law, obviously is to adopt a “double standard”. The Hong Kong government reiterated that since Hong Kong the national security law implementation, by more than a month since June 2019 troubled Hong Kong citizens of street violence has been greatly reduced, social stability, guaranteeing citizens’ legal rights and freedoms, criminals also be brought to justice under Hong Kong’s independent judiciary, “for Hong Kong’s prosperity as well as local and foreign companies in Hong Kong in terms of commercial activity, stable environment are extremely important”.

China’s foreign ministry said that the commissioner 10 individual beauty western politicians issued a joint statement, according to law is the Hong Kong police arrested a handful of the chaos to the port of gossiping in blatant violation of international law and basic principles in international relations, slander discredit the national security law in Hong Kong, naked intervene in the affairs of Hong Kong and China’s internal affairs ministry strongly condemn and firmly oppose the commissioner said.

Comprehensive current affairs11.24

Xi Jinping sends a congratulatory letter to the World Internet Conference and Internet Development Forum
The World Internet Conference•Internet Development Forum opened in Wuzhen, Zhejiang on November 23. More than 500 representatives from more than 20 countries and regions attended the conference. President Xi Jinping sent a congratulatory letter to the forum. Xi Jinping emphasized that China is willing to work with other countries in the world to seize the historical opportunities of the information revolution, cultivate new drivers of innovation and development, create a new phase of digital cooperation, create a new pattern of cyber security, build a community of shared future in cyberspace, and work together to create a better future for mankind.

All 832 national-level poverty-stricken counties across the country take off their hats
On November 23, Guizhou Province announced that all poverty-stricken counties had achieved poverty alleviation. So far, all 832 national-level impoverished counties in my country have been lifted out of poverty.

Successful launch of Chang’e 5 probe
At 4:30 on November 24th, China successfully launched the Lunar Exploration Project Chang’e-5 probe with the Long March 5 Yaowu carrier rocket at the Wenchang Space Launch Site, successfully sending the probe into the scheduled orbit and opening China’s first extraterrestrial object Sample the return journey.

More than 13,000 people were punished for violating the spirit of the eight central regulations in October
The website of the State Supervision Commission of the Central Commission for Discipline Inspection announced on the 23rd the monthly report on the investigation and punishment of mental problems in violation of the eight central regulations. According to the report, in October, 9,309 mental problems in violation of the eight regulations of the central government were investigated and dealt with, 13,442 people (including 57 prefecture-level officials and 737 county-level officials) were investigated and dealt with, and 8,879 people were given party discipline and government sanctions.

State-owned Assets Supervision and Administration Commission deploys and solidly promotes benchmarking world-class management improvement actions
On the 23rd, the State-owned Assets Supervision and Administration Commission of the State Council held an on-site promotion meeting for benchmarking world-class management improvement at Sinopec Zhenhai Refining & Chemical Branch in Ningbo, Zhejiang, summing up and exchanging the practices and experiences of excellent enterprises to build world-class enterprises, and carrying out the benchmarking world-class management improvement actions. Redeploy and advance.

State Administration of Radio, Film and Television: Underage users cannot give rewards
The State Administration of Radio and Television recently issued a notice clarifying that the online show live platform should implement real-name management for network anchors and “rewarding” users. Users who have not registered with the real-name system cannot give rewards, and minor users cannot give rewards.

China’s digital economy reaches 35.8 trillion yuan
The “World Internet Development Report 2020” and the Blue Book were released at the 2020 “World Internet Conference•Internet Development Forum” on the 23rd. The report pointed out that in 2019, the scale of China’s digital economy reached 35.8 trillion yuan, accounting for 36.2% of GDP, and the total scale and growth rate of China’s digital economy ranked among the top in the world.

Jiangxi: Pre-sale funds of commercial housing are all deposited into the supervision account
The Jiangxi Provincial Department of Housing and Urban-Rural Development and Jiangxi Banking and Insurance Regulatory Bureau jointly issued the “Notice on Further Strengthening the Supervision of Commercial Housing Pre-sale Funds”, requiring further strengthening of the supervision of commercial housing pre-sale funds. Real estate development enterprises must determine the supervision bank before applying for commercial housing pre-sale license , And opened a special account for the supervision of pre-sale funds with the building as the basic unit. All pre-sale funds shall be deposited in a special account for pre-sale funds supervision.

Hong Kong established the Guangdong-Hong Kong-Macao Greater Bay Area Development Office
The Bureau of Constitutional and Mainland Affairs of the Hong Kong Special Administrative Region Government announced on the 23rd that the Guangdong-Hong Kong-Macao Greater Bay Area Development Office was formally established to strengthen the promotion and coordination of the work of the Special Administrative Region Government on the construction of the Greater Bay Area. Yuan Minzhong is appointed as the Guangdong-Hong Kong-Macao Greater Bay Area Development Commissioner.

Chen Maobo: If digital renminbi can be used in cross-border payments, it can promote the interconnection between Hong Kong and the Mainland
Hong Kong Special Administrative Region Government Financial Secretary Chen Maobo said on the 23rd that if digital renminbi can be used for cross-border payments, it will further promote the interconnection between Hong Kong and the Mainland, especially the Guangdong-Hong Kong-Macao Greater Bay Area.