|Bid||0.365 x 0|
|Ask||0.370 x 0|
|Day's Range||0.365 - 0.390|
|52 Week Range||0.218 - 0.710|
|Beta (5Y Monthly)||1.67|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 26, 2020 - Mar 31, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 22, 2015|
|1y Target Est||0.67|
Good day, traders -- The US Senate followed the House in passing legislation supporting Hong Kong protesters. The legislation now goes to US President Donald Trump at a high-stakes moment in US-China talks over a partial trade deal. Please help us improve our blog by taking this quick -- under 2 minutes! -- survey. Your feedback will really help us make the blog better for you!\-- Georgina Lee and Deb Price in Hong KongMorning guidance Here's what we are watching this morning:Overnight markets/ What futures foretellIPO debuts: Shenzhen Qingyi Photomask Ltd (688138 CH) Economic data: From China, November one-year and five year loan prime rateEarnings: Nothing major Hang Seng Index to underperform mainland's onshore, offshore stocks, Morgan Stanley saysHong Kong's Hang Seng Index is likely to underperform any other key gauge tracking China's onshore and offshore stocks in 2020, as the fallout from the months-long political unrest hits growth and corporate earnings, according to Morgan Stanley.The benchmark of 50 stocks trading in the city may finish next year at 27,500, analysts led by Jonathan Garner at the US investment bank wrote in their 2020 strategy report for Asia's emerging markets. That implies a 1.5 per cent gain from its close on Tuesday. In comparison, the year-end targets for the CSI 300 Index of mainland-traded stocks, the MSCI China Index of Chinese companies trading on both onshore and offshore markets and the Hang Seng China Enterprises Index will see gains of at least 6 per cent from current levels."Key sectors in Hang Seng with sizeable exposure to Hong Kong's local economy such as financials and properties will also continue to suffer in 2020," the report said.Read full story by stocks reporter Zhang Shidong here. China selfie-editing app Meitu completes steps to acquire controlling stake in Dajie NetMeitu (1357 HK), one of China's selfie-editing apps, has completed the acquisition of a controlling stake in Dajie Net Investment Holdings.According to the Meitu's off-trading hours filing, it has satisfied all the conditions for the acquisition of 57.09 per cent of Dajie, a social networking and job search platform, including the payment of HK$395.5 million (US$50.5 million) by allotment and issue of 85,739,105 consideration share and the remaining HK$52.5 million in cash. The acquisition will allow Meitu, which enhances users' selfies, to further expand its reach and hold to the young set of technologically-savvy and digital native Chinese. On Tuesday, Meitu's shares closed 3.145 per cent higher to HK$1.64China Energy Engineering unit secures US$523 million contract in southern African country of LesothoA unit of China Energy Engineering (3996 HK), one of China's biggest power plant designers and builders, has secured a US$523-million contract with the Southern African country of Lesotho for the construction of a special economic zone project. The project, will be helmed by Gezhouba Group International Engineering, a subsidiary of China Gezhouba Group, which is a unit of China Energy Engineering. The project is located in Mafeiteng area of Lesotho, which is 80 kilometres from the capital Maseru.The project comprises a light industrial, agricultural, pharmaceutical processing park with an area of about 60,000 square metres, including processing plants, warehouses, office areas, logistics facilities, ancillary living facilities, water supply and electricity facilities. On Tuesday, shares of China Energy Engineering, based in Beijing and the flagship unit of state-owned Energy China Group (3996 HK), closed unchanged at HK$0.79 apiece. \-- Cheryl ArcibalTse Sui Luen Jewellery International looking for ways to counter plunge in net profit amid protests, trade warRead full story by Snow Xia here. Hong Kong and China stocks open lowerThe Hang Seng Index slid 0.6 per cent, to 26,936.79.The CSI 300, which tracks blue chips listed on Shenzhen and Shanghai, dropped 0.2 per cent, to 3,940.13, while the Shanghai Composite Index lost 0.2 per cent to 2,928.11.The Hang Seng has surged 2.9 per cent over the past two days, in part due to the ongoing mega-IPO of Alibaba whose secondary listing in Hong Kong is reportedly receiving enthusiastic response from institutional investors. Alibaba will start trading on the main board on November 26.HKEX (388 HK), the city's bourse operator, lost 2.3 per cent, to HK$246, after Spanish newspaper Cinco Dias reported that it is one of the bidders for the Spanish exchange BME, owner of the Madrid stock exchange. This comes after its failed attempt to buy the London Stock Exchange in October.In China, the National Interbank Funding Centre will announce the November 1-year and 5-year loan prime rates (LPR) for NovemberIntroduced in August to replace the benchmark lending rate, the LPR is the average of the 18 reporting banks' lending rate to their highest quality borrowers. The rate on the 1-year fixing now stands at 4.2 per cent, after two cuts in August and September, while the five-year is at 4.85 per cent, with no cut so far.In Shanghai, liquor distiller Kweichow Moutai (600519 CH) slid 0.2 per cent to 1230 yuan; Ping An Insurance (601318 CH) lost 0.4 per cent to 88.58 yuan.\-- Georgina Lee GCL-Poly Energy Holdings rises after tumble TuesdayShares of GCL-Poly Energy Holdings (3800 HK) -- one of China's largest solar panels materials producers -- and its solar farms development subsidiary GCL New Energy Holdings (451 HK) are starting off with different assessments by traders after their plunge Tuesday. GCL-Poly Energy rose nearly 2 per cent to 26 HK cents in early morning trading, while GCL New Energy fell 0.9 per cent to 21 Hong Kong cents.They tumbled Tuesday after the subsidiary said a preliminary agreement inked in June this year for GCL-Poly to sell a 51 per cent stake of GCL New Energy to China Huaneng Group -- the nation's largest power producer -- has been terminated. Instead, the pair has entered into a preliminary agreement for GCL New Energy's solar farms to be sold to China Huaneng. GCL-Poly owns 62.3 per cent of GCL New Energy. Both companies are highly indebted and in need of new capital to retire existing debts. Jiangsu province-based GCL-Poly Tuesday closed 5.6 per cent lower at 25.5 HK cents while GCL New Energy closed down 6.4 per cent at 22 HK cents. After the market closed, GCL-Poly chairman Zhu Gongshan told a teleconference with investors and analysts that the reason for a change in the proposed transaction with China Huaneng is because a takeover of GCL New Energy by China Huaneng will entail a long approval process by multiple central government departments, while a bulk asset sale by GCL New Energy to China Huaneng will be much simpler and quicker to implement. He declined to divulge the number and generation capacity of the solar farms to be sold, as the sale terms are being negotiated. The change in transaction format means the deal size will like be "much smaller than originally planned", Daiwa Capital Markets' analysts said in a note on Tuesday. "As the GCL New Energy assets [will] continue to remain on GCL-Poly's balance sheet ... [the latter] may still face great financial burden from [the debt of] both GCN New Energy and itself," they wrote.Zhu also said during the conference that China Huaneng also intends to provide a bridge loan to help GCL-Poly refinance its debt, so that it will not risk defaulting on them when they become mature. The amount and interest rate of the bridge loan is under negotiation. GCL-Poly has some US$600 million of due for repayment mid 2021, he added.Shenzhen Qingyi Photomask surges in debut on China's Star board Shenzhen Wingyi Photomask (688138 CH), which debuted on the science and technology innovation Star board in Shanghai, doubled its share price minutes after market open, to 20.22 yuan, compared to its offer price at 8.78 yuan.The Shenzhen-based company makes photomask, which is a high precision plate engraved with microcircuit made of a glass plate. It is used in micro-electronic manufacturing such as integrated circuit chips and flat panel display.\-- Georgia Lee Mobile game developers' gains continue in Shenzhen, bucking downtrend of China marketsSeveral stocks extended their gains from previoussessionsand hit the 10 per cent up limit again today.Their surge came amid expectations for more on-demand cloud gaming to emerge from leaders in the cloud computing field, such as Tencent (700 HK) and Alibaba (which lists next Tuesday in Hong Kong), now that 5G has been launched in China. Tencent has already launched its cloud gaming solution this year. The frenzy was also fuelled this week by Google's launch on Tuesday of its own cloud gaming service called Stadia.Investors are betting that cloud gaming, which streams games directly to a user's handheld device without the need for a console, will open up more opportunities for online game developers.The 10-percent gainers include Huawei Culture (002502 CH), to 4.21 yuan; Dalian Zeus Entertainment (002354 CH), to 3.05 yuan; Zhejiang Juli Culture Development (002247 CH) to 3.23 yuan; and Kingnet Network (002517 CH), which is available through the Stock Connect, to 3.09 yuan.China 1-year loan prime rate for November cut to 4.15 per cent, 5-year unchangedThe National Interbank Funding Centre published the November 1-year and 5-year loan prime rates (LPR). The 1-year rate was cut by a small 5 basis points, to 4.15 per cent from 4.2 per cent. It's the third cut this year, after the 1-year rate was reduced by 11bp in August and September.The 5-year LPR, a rate often used in mortgage lending in China, was not changed.Introduced in August to replace the benchmark lending rate, the LPR is the average of the 18 reporting banks' lending rate to their highest quality borrowers. It is used to price loans to both individuals and businesses.The Shanghai Composite Index was down 0.2 per cent at 2,928.76, while the CSI 300 lost 0.2 per cent at 3,938.15.\-- Georgina Lee Hang Seng weighed down by profit taking, rush in orders for Alibaba stock, says analyst Kenny Tang Blame the Hang Seng's decline in the morning session on profit taking and investors piling their money into orders for Alibaba, the Chinese e-commerce giant whose secondary listing debuts in Hong Kong next Tuesday. (Alibaba owns the South China Morning Post.)"There is some profit taking pressure," said Kenny Tang Sing-hing, chief executive of Royston Securities."And also the Dow Jones retreated from its high level. So I think it is quite reasonable for the Hang Seng to have some profit taking. And now money is locked into the Alibaba IPO, so the buying interest may have slowed down," he added.The Hang Seng declined 0.5 per cent to 26,949.04. Read about the latest on Alibaba's stock offering -- the world's biggest IPO this year -- in this article by Enoch Yiu and Peggy Sito.NavInfo surges to 5-week high on new collaboration with Huawei on autonomous vehiclesNavInfo (002405 CH) jumped 8.8 per cent to 16.2 yuan after announcing it will provide Huawei with its map test verification service that will be part of Huawei's self-driving car testing and verification process. The jump marked a five-week high for Navinfo, which develops navigation software and digital map software. It also is involved in chip manufacturing and vehicle networking technology.Navinfo said Tuesday night that it will tailor make map data products and services for Huawei. It did not give any financial details of the collaboration.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
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April 17 (Reuters) - GCL-Poly Energy Holdings Ltd: * ON 12 APRIL, UNIT TO SET UP INVESTMENT FUND WITH TOTAL CAPITAL COMMITMENT OF NOT LESS THAN RMB4 BILLION Source text for Eikon: Further company coverage:...
April 15 (Reuters) - GCL New Energy Holdings Ltd: * CINDA FINANCIAL LEASING TO PURCHASE LEASED ASSETS FROM SHENMU JINGPU FOR RMB600 MILLION * IN ADDITION, SHENMU JINGPU CONDITIONALLY AGREED TO PAY CINDA ...
April 12 (Reuters) - GCL-Poly Energy Holdings Ltd: * JIANGSU ZHONGNENG, UNIT ENTER LIMITED PARTNERSHIP AGREEMENT * AGREEMENT TO ESTABLISH INVESTMENT FUND WITH TOTAL CAPITAL COMMITMENT RMB3.35 BILLION * ...
March 29 (Reuters) - GCL-Poly Energy Holdings Ltd: * FY REVENUE FROM CONTINUING OPERATIONS RMB 20,565.4 MILLION VERSUS RMB 23,794.5 MILLION * FY LOSS ATTRIBUTABLE FROM CONTINUING OPERATIONS RMB693.4 MILLION ...