Auto retailers in general are doing well. Zhongsheng Hldg (00881) has risen 5.25%. In June, the inventory level of auto retailers was below the warning line.
Jingu Wealth News | Auto retailers are performing well overall, with Grand Baoxin (01293) up 11.25%, Zhongsheng Holdings (00881) up 5.25%, Meidong Auto (01268) up 4.95%, Yongda Auto (03669) up 2.47%, and Harmony Auto (03836) up 2.15%. On July 10th, the China Automobile Dealers Association released the "Auto Retailer Inventory" survey results for June 2024. The comprehensive inventory coefficient of automobile dealers in June was 1.40, a 2.8% decrease from the previous month and a 3.7% increase compared to the same period last year. Inventory levels were below the warning line. Dealers are upset.
China MeiDong Auto Holdings Repurchases Bonds to Cancel
China MeiDong Auto Holdings (HKG:1268) has, as of the date of the filing, repurchased its HK$2.75 billion zero coupon guaranteed convertible bonds due 2027, up to the principal amount of HK$807.0 mill
Meidong Auto has repurchased and conditionally canceled (or will soon cancel) bonds with a total principal amount of 807 million Hong Kong dollars.
Meidong Auto (01268) announced that, according to Rule 37.48(a) of the Securities Listing Rules of the Hong Kong Stock Exchange, the issuer and the company jointly announced that, as of the date of this announcement, the company has repurchased and conditionally cancelled (or will soon cancel) bonds with a total principal amount of HKD 807 million, accounting for approximately 29.35% of the initial total principal amount of the bonds (repurchased bonds). The repurchased bonds have the right to be converted into 18.03 million shares (rounded down to the nearest whole number of shares) of exchangeable shares (based on the current exchangeable price per share of HKD 44.7582 as of the date of this announcement).
Meidong Auto (01268) has repurchased and conditionally cancelled (or will soon cancel) bonds totaling HKD 807 million in principal.
Meidong Auto (01268) announced that it is following the securities listing rules of The Stock Exchange of Hong Kong Limited (the Listing Rules)...
HKEX market abnormality: Meidong Auto (01268) fell more than 3%, the bottom of the automotive industry cycle may be longer than expected, and domestic effective demand is still insufficient.
Meidong Auto (01268) fell more than 3%, as of press time, fell 3.27% to HKD 2.05, with a turnover of HKD 11.3853 million.
What You Can Learn From China MeiDong Auto Holdings Limited's (HKG:1268) P/E After Its 31% Share Price Crash
China MeiDong Auto Holdings Limited (HKG:1268) shareholders that were waiting for something to happen have been dealt a blow with a 31% share price drop in the last month. For any long-term shareho
Meidong Auto (01268) fell more than 7%, in the short term, any additional subsidies from auto manufacturers will bring upward space for profits to dealers.
Meidong Auto (01268) dropped more than 7%. As of press time, it fell 7.63% to HKD 2.42 with a turnover of HKD 23.6383 million.
China MeiDong Auto Holdings Limited (HKG:1268) Stock Goes Ex-Dividend In Just Three Days
China MeiDong Auto Holdings Limited (HKG:1268) is about to trade ex-dividend in the next three days. The ex-dividend date is usually set to be one business day before the record date which is the cut
Hong Kong stocks fluctuations | Meidong auto (01268) rose more than 15% in intraday trading, with subsidies from car manufacturers potentially boosting dealer profits. The company's inventory turnover is relatively high.
Zhitong Finance APP learned that Meidong Auto (01268) rose more than 15% in intraday trading. As of press time, it rose 10.19% to HKD 2.92, with a turnover of HKD 27.3817 million. On the news front, it was recently reported that some Porsche dealers in China protested due to poor sales and loss-making sales of Porsche in the mainland market. Daiwa published a report stating that the new car profit margin of Chinese luxury car dealers has fallen to the level where dealers refuse to accept more inventory unless the manufacturer provides additional rebates. For dealers, the boycott action shows that the new car business is hitting bottom, as the current thin profit margin mainly reflects in price promotion.
Meidong Auto (01268.HK) received a shareholding of 1.086 million shares from Aikya Investment.
According to the latest equity disclosure information from the Stock Exchange of Hong Kong, on May 29, 2024, Meidong Auto (01268.HK) received 1.086 million shares of shareholding from Aikya Investment Management Limited on the exchange floor, at an average price of HKD 2.64 per share, involving a total amount of approximately HKD 2.867 million. After the shareholding acquisition, the latest shareholding of Aikya Investment Management Limited increased from 4.99% to 5.08%, at a total of 70.42415 million shares.
DBS Bank said that the new car business is bottoming out and subsidies from car manufacturers could boost dealer profits.
According to a report by Daiwa, the new car profit margins of Chinese deluxe car dealers have dropped to a level where dealers refuse to accept more inventory unless manufacturers provide additional rebates. For dealers, this resistance indicates that the new car business is reaching its bottom; however, for German car manufacturers, reducing supply or providing additional rebates will still lead to a decline in profits.
Most car dealers rose, Zhongsheng Holdings (00881) rose 5.37%, and the new car business of Daimotsu dealers is bottoming out
Jinwu Financial News | Most car dealers rose, with Zhongsheng Holdings (00881) up 5.37%, Meidong Auto (01268) up 3.59%, Yongda Auto (03669) up 2.58%, and Zhengtong Auto (01728) up 2%. According to a report published by Damo, there are recent reports that due to poor sales and poor sales of Porsche cars in mainland China, some Porsche dealers in China have launched a boycott. According to the bank, the profit margin of Chinese luxury car dealers on new cars has dropped to a level where dealers refuse to accept more inventory unless the manufacturer provides additional rebates. For dealers, the boycott shows that the new car business is on
Why China MeiDong Auto Holdings Limited (HKG:1268) Could Be Worth Watching
China MeiDong Auto Holdings Limited (HKG:1268), might not be a large cap stock, but it saw significant share price movement during recent months on the SEHK, rising to highs of HK$3.33 and fallin
Changes in Hong Kong stocks | Auto dealers collectively declined, dealer inventory index rose month-on-month in April, demand for car purchases did not meet expectations in May
Auto dealers collectively declined. As of press release, Zhongsheng Holdings (00881) fell 9.07% to HK$13.84; MeiDong Auto (01268) fell 8.19% to HK$2.69; and Yongda Motor (03669) fell 5.12% to HK$2.04.
The car dealership sector was under pressure, and Zhongsheng Holdings (00881) fell 8.15%. Consumer demand for car purchases in May did not meet expectations
Jinwu Financial News | The auto dealer sector was under pressure across the board. Zhongsheng Holdings (00881) fell 8.15%, Meidong Auto (01268) fell 7.51%, Yongda (03669) fell 4.19%, Zhengtong Auto (01728) fell 2.04%, and Harmony Auto (03836) fell 1.92%. According to data from the China Automobile Dealers Association, in the third week of May (May 13 to May 19), the used car market traded an average of 60,300 vehicles per day, down 5.53% from last week, and 8% from the same period in April. The average daily trading volume of the used car market continued in May
[Hong Kong Stock Connect] MeiDong Auto (01268) rose 6.67%. Institutions expect it to survive the crisis
Jinwu Financial News | MeiDong Auto (01268) fluctuated higher in early trading. As of press release, it reported HK$3.04, up 6.67%, with a turnover of HK$12.08 million. According to the news, the Zhongtai Securities Research Report said that the company still showed strong operational resilience, and the absorption rate of snack services reached 116.7%. The beta downturn is both a challenge and an opportunity. With its leading alpha advantage, the company is expected to survive the crisis and even achieve better growth. The bank still believes that the dealer industry will exist in the future in a market dominated by new energy vehicles, but it is difficult to predict how long this round of changes will last. The bank will adjust 2024-202
ANNUAL REPORT 2023
Some Investors May Be Worried About China MeiDong Auto Holdings' (HKG:1268) Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is to try and find a company with returns on capital employed (ROCE) that are increa
Changes in Hong Kong stocks | Meidong Auto (01268) continued to fall nearly 8%. Auto dealers' comprehensive inventory coefficient in March was 1.56, down 10.3% month-on-month
The Zhitong Finance App learned that MeiDong Auto (01268) continued to drop by nearly 8%, down 7.96% at press time, to HK$2.66, with a turnover of HK$6.59 million. According to the news, on April 10, the China Automobile Dealers Association released the results of the “Auto Dealer Inventory” survey for March 2024: the comprehensive inventory coefficient for car dealers in March was 1.56, down 10.3% from the previous month and 12.4% year on year. The inventory level was above the warning line, and dealer inventory pressure declined. According to reports, the 2023 financial reports of eight Hong Kong stock car dealers have been released one after another. Of these, 5 companies are in 2023
Changes in Hong Kong stocks | Meidong Auto (01268) fell more than 5%, leading the decline, and the auto dealer price war dragged down the profits of dealers, and the survival status of dealers is still worrying
The Zhitong Finance App learned that car dealers have collectively declined. As of press release, Meidong Auto (01268) fell 5.5% to HK$2.92; Zhongsheng Holdings (00881) fell 5.34% to HK$14.54; and Yongda Auto (03669) fell 2.22% to HK$2.2. According to the news, the 2023 financial reports of eight Hong Kong stock car dealers have been released one after another. Among them, the net profit of 5 companies declined year-on-year in 2023. The net profit of Zhongsheng Holdings was 5,018 billion yuan, down 24.97% year on year; Yongda Auto's net profit was 586 million yuan, down 60 percent year on year.
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