Industrial and Agricultural Bank of China, among other state-owned banks, have taken action and a new round of deposit rate cuts has officially formed?
According to the Daily Economic News, a major bank will reduce its deposit benchmark interest rate on July 25, with a 20 basis point reduction for a 2-year term. More news is being updated.
Long-established state-owned developer says goodbye to real estate.
Ten years ago, Dong Mingzhu, then chairman of Gree Group, said that Gree should not focus on real estate business, but should focus on home appliances; ten years later, this became true. Gree Real Estate, which has separated from Gree Group, has decided to withdraw from real estate development business. On July 7th, Gree Real Estate announced that it will gradually withdraw from real estate development business in Shanghai, Chongqing, Sanya and other places, and plans to sell corresponding assets and liabilities; at the same time, it has updated its restructuring plan for Zhuhai Duty-Free Group, planning to buy no less than 51% of the equity of Zhuhai Duty-Free Group and promote Gree Real Estate's main business transformation to duty-free business.
AH trends diverge, Hang Seng Index up 0.6%, CNOOC up 4%, national bond futures slightly rebound.
Rare earth permanent magnets concept stocks pull back, photovoltaic and lithography themes also weaken. Hong Kong's real estate, banks, and oil & gas stocks are strong, CNOOC up 4%, Agricultural Bank of China and China Merchants Bank rise more than 2%. After experiencing a sharp drop yesterday, national bond futures rebounded in early trading, with 10-year and 30-year national bond futures contracts rising nearly 0.1% in early trading.
Why is Fosun Pharma privatizing Henlius at this time? | Jianzhi Research
The suspension of Henlius stocks has finally been resolved, consistent with previous market rumors: Fosun Pharma will privatize Henlius for delisting, with a privatization valuation of approximately RMB 12.4 billion. Fosun Pharma's bid for each share of Henlius is HKD 24.60, a premium of 30.6% over its pre-suspension closing price. Based on last year's net profit of CNY 546 million for Henlius, this privatization has a PE ratio of approximately 23 times. The total transaction is HKD 5.4 billion, which will use no more than HKD 3.7 billion in acquisition loans. Henlius has a total share capital of 543.5 million shares, including 163.4 million H shares and 380.1 million non-listed shares. The tenderer in this case is Fosun.
"Top real estate player in Fujian province" becomes third place in Hangzhou.
Author: Cao Anxun Editor: Zhou Zhiyu After becoming the top newcomer among Fujian property companies, JF ups the pace of expansion. On June 14th, China Resources Land spent CNY 5.76 billion to purchase the land of Wuyuan Bay, Xiamen. According to CRIC, from January to May, JF's new land value totaled CNY 43.54 billion, ranking third in the country behind China Resources Land and China State Construction's One Product, and had landed in Longyan, Hangzhou, Wuhan, Changsha and other places. Particularly in Hangzhou, according to 36 Krypton, JF acquired approximately 220,000 square meters of project GFA with a premium of less than 30% since the beginning of the year.
Report: Fosun Pharmaceuticals Considers Privatizing Hong Kong Stock Holding Subsidiary Fu Hong Han Lin
On Monday, according to media reports quoting people familiar with the matter, Fosun Pharmaceutical is considering a privatization acquisition of Fuhong Hanlin, which is listed on the Hong Kong stock market. People familiar with the matter said that Fosun Pharmaceuticals is cooperating with a consulting agency on a potential privatization offer plan, and other investors may also join the deal. Fuhong Hanlin is a holding subsidiary of Fosun Pharmaceutical. Fosun Pharmaceutical holds 53.61% of Fuhong Hanlin's total share capital. Since May 23, Fu Hong Hanlin has suspended trading on the Hong Kong Stock Exchange pending the announcement of the merger and acquisition. Negotiations are still ongoing, and it remains to be seen whether a deal will actually be reached in the future.