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GD LAND (00124) dropped 26.87% as GUANGDONG INV (00270) completed the physical distribution of GD LAND shares.
Jinwu Financial News | GD LAND (00124) stock price dropped by 26.87%, closing at 0.166 HKD, with a transaction volume of 9.6578 million HKD. In terms of news, GUANGDONG INV (00270) previously suggested distributing special dividends to shareholders by physically distributing GD LAND shares, with GUANGDONG INV shareholders receiving 0.193 shares of GD LAND for each share held. The distribution will be made from GUANGDONG INV's direct holding of approximately 1.261 billion shares of GD LAND, accounting for about 73.72% equity in GD LAND. After the distribution is completed, GD LAND will no longer be a subsidiary of GUANGDONG INV, and its financial performance will no longer be included in GUANGDONG INV's financial statements.
GUANGDONG INV: PAYMENT OF SPECIAL DIVIDEND BY WAY OF DISTRIBUTION IN SPECIE OF GDL SHARES
Bank of America Securities: Last year, defensive yields such as thermal and hydroelectric power performed well in the sector, upgrading the rating of HUANENG POWER.
Bank of America Securities released a research report stating that the MSCI China Utilities Industry rose approximately 17% last year, in line with the overall market trend. Among them, defensive yields such as thermal and hydropower performed excellently within the Sector. It is recommended that investors choose defensive stocks this year and add to individual quality Beta stocks during price corrections. Bank of America's selection of defensive Utilities Industry stocks includes HUANENG POWER (00902), HUADIAN POWER (01071), China Yangtze Power (600900.SH), and BEIJING ENT (00392). Quality Beta stocks include CHINA RES GAS (01193) and Zhongtian Technology.
Private Companies Are Guangdong Investment Limited's (HKG:270) Biggest Owners and Were Hit After Market Cap Dropped HK$2.7b
Major bank rating丨Citibank: Reaffirms GUANGDONG INV "Buy" rating, raises earnings forecast for 2025 to 2026.
Citi published a report stating that GUANGDONG INV plans to distribute over 73% of its shares in GD LAND, and after excluding the losses from related property sales and asset impairments, it raised the 2025 to 2026 Net income forecast for GUANGDONG INV by 36 to 41%. This equity will be distributed as a special dividend to GUANGDONG INV's Shareholders on January 21, 2025. Citi has set a Target Price of HKD 7.3 for GUANGDONG INV and reiterated its "Buy" rating, as it expects the 6.7% return in 2025 to be the highest among Hong Kong utility stocks; after disposing of its holdings in GD LAND, its earning visibility will increase; and its financial condition will improve.
Does Guangdong Investment Limited's (HKG:270) Weak Fundamentals Mean That The Market Could Correct Its Share Price?
Earnings Miss: Guangdong Investment Limited Missed EPS By 13% And Analysts Are Revising Their Forecasts
