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Is There An Opportunity With SINOPEC Engineering (Group) Co., Ltd.'s (HKG:2386) 25% Undervaluation?
[Brokerage Focus] Citic Securities: HSCEI welcomes the results of the new round of quarterly reviews on August 16, and it is expected that 19 symbols will enter the Hong Kong Stock Connect.
Jingu Financial News | Citic Securities stated that the Hang Seng Index will undergo a new review on August 16th, and the adjustment will officially take effect on September 9th. The Hong Kong stock connect will also correspondingly adjust. The bank expects to have 19 symbols to be included in the Hong Kong stock connect, of which the technology, optional consumer, and energy sectors have higher market capitalization weight. Broken down by industry, including 5 technology companies: Maipu Times (02556), Quchizhu Group (00917), Zhixing Automotive Technology (01274), Shengneng Group (02459), and Yisou Technology (02550); 3 optional consumer enterprises: Auto Street (02443), ...
CITIC Securities: Hang Seng Index will welcome a new round of review results, and Alibaba-SW is expected to be included in the Hong Kong Stock Connect.
CITIC Securities released a research report stating that the Hang Seng Index will undergo a new round of review results on August 16, and the adjustment will take effect on September 9. Hong Kong Stock Connect will also be adjusted accordingly. The bank predicts that there will be 20 symbols included in the Hong Kong Stock Connect, among which the information technology, optional consumer, and energy sectors have higher market value weights. If Alibaba-SW (09988) successfully converts to a dual primary listing by the end of August, it may be included in Hong Kong Stock Connect in this review. The bank also recommends investors to pay attention to timing opportunities between the announcement date of the Hang Seng Index and the effective date of the Hong Kong Stock Connect. In addition, due to some arbitrage funds or before the effective date of the Hong Kong Stock Connect
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
SINOPEC Engineering Acquires 51% Interest in KSD, Disposes All Interest in Sinopec Tech
Sinopec SEG plans to sell its equity in Kuka and acquire the equity of Jinshende.
Sinopec Seg (02386) announced that on June 30, 2024, its wholly-owned subsidiary, Shanghai Engineering and Science Development Company, signed the Jinsan-de equity transfer agreement with Keka Company. According to the agreement, Shanghai Engineering agreed to purchase 14.65% equity in Jinsan-de held by Keka, and Keka agreed to repurchase 7% of equity in Shanghai Engineering. The consideration paid by Keka for the repurchase target equity (approximately RMB 31 million) constitutes Keka's debt to Shanghai Engineering, which will be used to pay for the 14.65% equity in Jinsan-de sold by Keka to Shanghai Engineering (approximately RMB 22 million).
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