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pdd holdings's stock price plummeted to a record low, generating returns from hedge fund's convertible bond arbitrage trades.
While the stock price of PDD Holdings hit a record low, a hedge fund strategy that takes advantage of the disconnect between the stock and corporate bond markets is benefiting. The core of this strategy is convertible bonds, which can be converted into stocks under certain circumstances. This strategy involves buying convertible bonds, which is equivalent to giving the holder a call option to buy the underlying stocks at the conversion price, and shorting the company's stocks as a hedge. This strategy yielded significant returns on Monday. PDD Holdings' ADR listed in the USA plummeted 29%, marking the biggest drop since its IPO in 2018. The company's quarterly revenue fell short of expectations and issued a warning of slowing revenue growth, while PDD Holdings 2025.
jd.com (09618) once rose more than 2.3% and announced a $5 billion buyback plan. Citigroup suggests that it is expected to catalyze a short-term increase in the stock price.
Jing Gong Cai Xun | jd.com (09618) rose against the market in early trading, as of press time, it rose more than 2.3%, as of press time, it rose 1.08%, at HKD 102.8, with a turnover of 0.324 billion HKD. The company announced that the board of directors has approved a new share repurchase plan, effective from September 2024. According to the new share repurchase plan, the company is authorized to repurchase shares worth no more than $5 billion, including American depositary shares, within the next 36 months ending August 2027. Citigroup believes that jd.com's newly announced $5 billion share repurchase plan sends a stronger signal that the management values the shareholders.
Walmart launches new holiday third-party seller services.
US retail giant Walmart announced on Tuesday that it will provide services to e-commerce platform sellers, handling the transportation of their goods from Asia directly to Walmart's US warehouses, and managing orders and returns from any e-commerce website. This is a new method to boost its e-commerce platform business before the holiday shopping season. Walmart's marketplace business has become a significant source of revenue, and the company is trying to close the gap with Amazon in handling third-party sales. The world's largest retailer made this announcement after reducing its shareholding in Chinese e-commerce giant JD.com last week. Walmart's efforts indicate that it is seeking to handle internally
jd.com and live streaming are getting it on.
Continuously increase investment in livestreaming.
Gelonghui Announcements (Hong Kong Stocks) | Nongfu Spring (09633.HK) announced its mid-year performance with a 8.0% year-on-year increase in net profit and a 59.5% increase in revenue from tea beverage products.
【Today's Focus】 Nongfu Spring (09633.HK) announced its interim performance, with a net profit growth of 8.0% compared to the same period last year. The income from tea beverage products increased by 59.5%. Nongfu Spring (09633.HK) released a notice stating that in the first half of 2024, the company's total revenue was RMB 2,217.3 million, a year-on-year increase of 8.4%; the net profit attributable to the owners of the parent company was approximately RMB 624 million, a year-on-year increase of 8.0%; and the basic earnings per share were RMB 0.55, a year-on-year increase of 8.0%. In January and February 2024, the group's sales of packaged drinking water products were good in these two months.
Hong Kong stock announcement | Ctrip Group-S second quarter shareholder net profit of 3.833 billion yuan, a significant increase of 507.45% year-on-year, strong growth in the tourism business.
ANTA Sports (02020) released its interim results, achieving revenue of 337.35 million yuan, a year-on-year increase of 13.8%, further solidifying its leading position in the Chinese sports brand industry; China Taiping (00966) reported a 15.4% year-on-year increase in attributable net profit for the first half of 2024, reaching 6.027 billion Hong Kong dollars, with Taiping Life's NBV increasing by 83.6% year-on-year.
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