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Hong Kong stocks surge | Kinetic Development (01277) rose nearly 23% in early trading, and the company officially entered the Hong Kong stock connect list. Recently acquired 100% equity of Seedlife.
Kinetic dev (01277) surged nearly 23% in early trading. As of the time of writing, it has risen 21.82% to HKD 1.34, with a trading volume of HKD 25.4514 million.
Kinetic dev (01277.HK) has been included in the list of securities for Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect.
According to the announcement of Power Development (01277.HK) on September 9th, Gelonhui, the company's shares have been included as the symbol of China Connect and Hong Kong Connect respectively in accordance with the notice of the Shanghai Stock Exchange on the adjustment of the symbol of Hong Kong stock Connect under the Shanghai-Hong Kong Stock Connect and the announcement of the Shenzhen Stock Exchange on the adjustment of the securities list of Hong Kong stock Connect under the Shenzhen-Hong Kong Stock Connect, both of which will take effect from September 10, 2024. The shares are included in both Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, allowing qualified mainland Chinese investors to directly invest through the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
Coal industrial concept (coal industry) collectively under pressure. Mongol Mining (00975) fell by 9.87%, institutions point out that thermal coal prices are difficult to have further upward drive.
Jinwu Finance News | Coal stocks are collectively under pressure, with Green Leader (00061) falling 10%, Mongol Mining (00975) falling 9.87%, Southgobi (01878) falling 8.48%, China Shenhua Energy (01088) falling 4.91%, China Coal Energy (01898) falling 4.99%, Kinetic Dev (01277) falling 4.42%, Yankuang Energy (01171) falling 4.29%. GTJA Futures states that, overall, the current spot thermal coal prices are showing a weak and stable running trend. In terms of production areas, coal mines are mainly purchasing to ensure supply and for rigid demands such as chemicals, with a few experiencing significant price reductions.
Kinetic dev (01277.HK) plans to acquire 100% equity of Seedlife for 0.423 billion yuan.
Announcement from Kinetic dev (01277.HK) stated that on September 6, 2024, the company, as the buyer, entered into a share purchase agreement with Seedland Smart Service and Seedlife, whereby the buyer agreed to acquire (directly or through its affiliates ("acquiring affiliates")), and Seedland Smart Service agreed to sell all the shares of Seedlife, for a total consideration of 423 million yuan. Seedlife is a limited company registered under the laws of the British Virgin Islands and has been established since its registration.
Are Robust Financials Driving The Recent Rally In Kinetic Development Group Limited's (HKG:1277) Stock?
gtja: The bottom of coal price in the second half of the year is expected to not break 800 yuan/ton, and the turning point is estimated to be in mid-September.
In the first half of 2024, the performance of dividend assets with a high proportion of long-term contracts continued to significantly outperform the industry. The performance pressure brought by the simultaneous decline in volume and price in the first half of the year has been released, determining that the bottom coal price in the second half of the year will not break 800 yuan/ton, and the turning point is expected in mid-September.
Kinetic Development Group Limited (HKG:1277) Soars 26% But It's A Story Of Risk Vs RewardNo Data
