[Today's focus]
CIMC Motors (01839.HK) plans to buy back all issued H shares at a premium of about 4.90% and resume trading tomorrow
CIMC Motors (01839.HK) announced that the company has held a board meeting on March 11, 2024. The board of directors has decided to make an H share repurchase offer in order to repurchase all issued H shares (with the exception of holders of CIMC Group and its cooperating parties) while complying with the provisions of the Takeover Code, Share Repurchase Code and Listing Rules.
If the H share repurchase offer becomes unconditional in all aspects, all H shares repurchased will be cancelled, the company's registered capital will be reduced accordingly, and the company will apply to the Hong Kong Stock Exchange to withdraw the H share listing status in accordance with section 6.15 of the listing rules.
The company will not make an offer for A-shares, and the company intends to keep A-shares listed on the Shenzhen Stock Exchange. The company's Chinese legal adviser said that according to Chinese laws and regulations, the company is not required to make a comparable offer for A-shares.
The offer price is HK$7.5, which is about 4.90% premium over the closing price of HK$7.15 per H share as reported by the Hong Kong Stock Exchange on March 8, 2024.
The Board believes that the H share repurchase offer and voluntary delisting are in the overall interests of the company and shareholders: (a) the trading volume of H shares is low and liquidity is limited, making it difficult for the company to effectively finance at the Hong Kong Stock Exchange; (b) the H share repurchase offer, if implemented, may bring a one-time investment return to the accepted H share shareholders; and (c) voluntary delisting, if implemented, will enable the company to save costs and expenses related to H share listing compliance.
Furthermore, the company has applied to the Hong Kong Stock Exchange to resume trading of H shares on the Hong Kong Stock Exchange starting at 9:00 a.m. on March 12, 2024.
[Financial results]
Sinopec Oil Service (01033.HK) Performance Report: 2023 net profit of 590 million yuan increased 23.8% year-on-year
Graffiti Smart-W (02391.HK) Announces Annual Results Overall gross margin rose to 46.4% and reached annual balance of payments for the first time
Lairsdam (00738.HK): Total sales of the proprietary retail business fell 6.7% and same-store sales increased 5.4% in the fourth quarter
Edwin Group (09919.HK)'s net profit for the fiscal year 2023 increased by about 319.9% to approximately RMB 118 million, with a dividend of HK10.58 cents per share
MODERN DENTAL (03600.HK) Yingxi: Net profit is expected to increase by about 76.5% to 85.5% year-on-year in 2023
Asia Securities Real Estate (00271.HK) Yingxi: Expected net profit of HK$260 million to HK$270 million in 2023
SF Express Tongcheng (09699.HK) Yingxi: Net profit from continuing operations is expected to be no less than 60 million yuan in 2023
Mace Health (02415.HK) Yingxi: Expected annual profit attributable to shareholders exceeds 50 million yuan
Baguio Green Group (01397.HK) Yingxi: Expected net profit of HK$4,800-51 million in 2023
21st Century Education (01598.HK) Yingxi: Expected annual net profit after tax is about 34.7 million to 40.1 million yuan
Lu Jin (01098.HK) Profit Alert: Expected losses due to company owners about HK$3.9 billion to HK$4.2 billion in 2023
WAI KEE HOLD (00610.HK) Profit Alert: Comprehensive loss attributable to owners is expected to be around HK$1.55 billion to HK$1.7 billion in 2023
Shenzhen Holdings (00604.HK) Profit Alert: Expected comprehensive loss of HK$248 million to HK$406 million to equity shareholders in fiscal year 2023
Jinli Group (03919.HK) Profit Alert: Expected net loss for FY2023 does not exceed HK$12 million
[Operational data]
China Life Insurance (02628.HK): The cumulative original premium income of 252.7 billion yuan in January-February increased 2.8% year-on-year
Yuyuan Group (00551.HK): Net consolidated operating income of US$606 million in February
The net consolidated operating income of Baosheng International (03813.HK) in February was 1.74 billion yuan, up 34.8% year-on-year
Greenland Hong Kong (00337.HK) contracted sales of approximately $1.31 billion in the first two months
Hong Kong Dragon China Land (06968.HK) achieved contract sales of approximately RMB 1,258.6 billion in February
Ocean Group (03377.HK): February agreed sales of 820 million yuan
COFCO Jiajiakang (01610.HK) Operation Report: 204,000 pigs released in February
Jiangshan Holdings (00295.HK): Total power generation from January to February was about 40,600 megawatt-hours
[Pharmaceutical Innovation]
China Biopharmaceutical (01177.HK) “anlotinib hydrochloride capsules” and “TQB2916 (CD40 agonist)” will be published in 2024AACR
Shanghai Pharmaceutical (02607.HK): I040 clinical trial application accepted
Columbotai Bio-B (06990.HK): The main product A400 (EP0031) was granted Fast Track Qualification by the US FDA
[Equity Incentives]
Tsugami Machine Tool China (01651.HK) grants a total of 2,225,000 bonus shares
Zulong Entertainment (09990.HK) issues 3.582 million shares according to the restricted share unit plan
[Increase or decrease holdings]
Dongfeng Group Shares (00489.HK): Dongfeng Motor increases the company's H shares by 24.99 million shares
[Repurchase Cancellation]
Riel Group (06639.HK) plans to use up to HK$200 million to implement a share repurchase plan
Standard Chartered Group (02888.HK) spent £21.5088 million to buy back 3.253,000 shares on March 8
HSBC Holdings (00005.HK) spent HK$142 million to repurchase 2.4056 million shares on March 8
Yao Ming Kangde (02359.HK) bought back 937,000 shares of the company for the first time
Swire Group A (00019.HK) spent HK$12.72 million to buy back 198,500 shares on March 11
AIA (01299.HK) spent HK$6.2912 million to buy back 101,400 shares on March 11
Bairongyun-W (06608.HK) cancelled 17.18 million shares on March 11
Capital Strategy Real Estate (00497.HK) cancelled 9.15 million shares to repurchase shares on March 11