The Hong Kong stock market opened higher yesterday following the external market. Under the repeated upward momentum, it quickly approached 22,000 points. The Hang Seng Index once reached a high of 21,947 points, rising 209 points, and hitting a high of more than half a year. Such a growth rate is amazing. Or because of this feeling, the number of profit-makers increased, and the Hang Seng Index once weakened, falling 166 points. In the end, the Hang Seng Index closed at 21,746 points throughout the day, up 8 points.
In the early stage of the market, many stocks rose. Among them, the financial sector performed well. Local banks, mainland brokerage stocks and insurance stocks all performed well. However, in the afternoon, many stocks returned to their original shape and fell. Stories or longings will pay off. Like HSBC (005), among the banking stocks, it has performed strongly recently. It closed at 56.65 yuan yesterday, up 2%.
Ping An Insurance plays the role of supervising the management
The stock price of Standard Chartered is hard to clean. One reason is that it was reported earlier that Middle East funds had considered and made a profit, which made shareholders hope that the stock price could reflect the company’s value. Similarly, the stock price of Huihui Holdings got rid of the weakness, which is somewhat related to the shareholders’ expectation that after the company sells its production, it can increase dividends. At the end of last year, HSBC decided to sell the Canadian personal and commercial banking business to the Royal Bank of Canada. It is estimated that the pre-tax profit of the transaction will be about US$5.7 billion (about HK$44.3 billion), including the recovery of about US$600 million in currency conversion reserve losses. Since the sale can be cashed out and reduces capital requirements, the board of directors indicated that it will actively consider a one-time dividend or share repurchase.
Compared with the company earning nearly 100 billion yuan (approximately US$12.6 billion) in the whole period of 2021, the income from the sale of properties this time is quite a lot. If dividends are distributed, it will have a certain stimulating effect, but there are two key points: one is whether the distribution will be exhausted ; The second is whether it can be maintained. From the perspective of the management, since I am not a major shareholder, I don’t have much to say about the faction. Retaining funds can reduce the pressure on my own. It is believed that only rights-protecting shareholders can encourage the management to send more factions. Ping An Insurance (2318) has gradually adopted a high profile since increasing its shareholding. Dividend distribution is believed to be its concern, and the management of HSBC may also consider it. Similarly, Ping An has been asking HSBC to return to Asia. The sale of Canadian assets this time has finally responded to some of the requests. HSBC has few overseas assets. Whether it will continue to sell production and return to Asia? Ping An will play a certain role and become a One of the forces that oversees HSBC’s management and stock price performance.
Shareholder structure has an important impact on the stock price. Just like Brilliance (1114), which announced a special dividend last week, the company announced that it will distribute a special dividend of 0.96 yuan, which is expected to be paid in cash around February 27. Shareholder distribution of the company register of shareholders. After the news was announced, the stock price retreated from the good news. At one point, it fell sharply by 14% to 4.2 yuan, and closed at 4.49 yuan, down 8.18%. In addition to the taking-back factor, the lower-than-estimated dividend payout is also one of the reasons. Brilliance’s high dividend payout this time is mainly due to the sale of part of the company’s stake in BMW Brilliance, which has the highest profitability. According to the sales amount, the company’s distribution can reach 3 yuan per share. This time the company did not make a full payment, and it is very likely that it will return cash to deal with possible disputes. However, the board of directors has stated that it will meet in March before paying dividends.
Science and Internet stocks are weak, Ali people fall and I rise
The BMW factory under Brilliance is doing well. One reason why it sells production and pays dividends is that the local government it cooperates with needs money. According to calculations, if the company distributes all the cash, it will have about 4 yuan, and the rest will have a bright future. The common car factory equity, if the company is dismantled, should be worth about 7 yuan. Since there will be speculation about dividends in the future, investors can implement it themselves if they want to speculate. In short, the example of Brilliance once again proves that for giant companies like HSBC, it is a good thing for other small shareholders to have an activist shareholder to supervise the management.
Except for HSBC, all the stocks that received money yesterday have their own stories and arouse longing. The Hang Seng Index’s gains have shrunk, mainly due to the decline in technology and Internet stocks. Therefore, the S&T Index underperformed the market, falling 48 points, to close at 4506 points; Technology and Internet stocks generally fell. Lenovo (992) fell nearly 4% to close at 6.07 yuan, the worst performing blue chip stock; Meituan (3690) fell more than 3% to close at 165.6 yuan; Baba (9988) rose 0.62% to close at 113.4 yuan, maintaining its good performance at the beginning of this year. This situation is probably due to the effect of Jack Ma’s fading out. It is believed that the company will start a new chapter and funds will continue to be parked in the stock.
Oil prices continued to rise, and the “three barrels of oil” bucked the trend. PetroChina (857) rose 1.3% to close at 3.88 yuan; CNOOC (883) rose 0.4% to close at 10.5 yuan; Sinopec (386) rose 0.5% to close at 4.01 yuan. Lansen Pharmaceutical (503) issued a profit alert, expecting net profit of about US$8.1 million last year, an increase of nearly 8 times year-on-year. Lansen Pharmaceutical soared nearly 24% to close at 1.82 yuan. 3 new stocks listed for the first time, with mixed performance. Beautiful Garden Healthcare (2373) soared 53.5% to close at 29.65 yuan; Pagoda (2411) soared 7.1% to close at 6 yuan; Wangchen Technology (2458) fell 11.5% to close at 5.75 yuan.
Jin Riku
