6886.HK - Huatai Securities Co., Ltd.

HKSE - HKSE Delayed Price. Currency in HKD
13.100
-0.020 (-0.15%)
As of 10:29AM HKT. Market open.
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Previous Close13.120
Open13.120
Bid13.100 x 0
Ask13.120 x 0
Day's Range13.020 - 13.200
52 Week Range10.120 - 18.540
Volume3,734,000
Avg. Volume11,374,530
Market Cap189.712B
Beta (3Y Monthly)1.03
PE Ratio (TTM)8.41
EPS (TTM)1.559
Earnings DateN/A
Forward Dividend & Yield0.68 (5.16%)
Ex-Dividend Date2019-07-10
1y Target Est15.18
  • Shares of Suzhou HYC, the first IPO on Shanghai's new tech board, oversubscribed 336 times as investors join frenzy
    South China Morning Post

    Shares of Suzhou HYC, the first IPO on Shanghai's new tech board, oversubscribed 336 times as investors join frenzy

    Shares of Suzhou HYC Technology, the first company to launch an IPO on Shanghai Stock Exchange's new Star Market, have been oversubscribed 335.6 times after investors shrugged off criticism into its dressed up prospectus.The company set its initial public offering price at 24.26 yuan per share, it said in a filing on Wednesday, valuing it at 41 times its 2018 earnings.If the bids below the final IPO price are excluded, the shares were still oversubscribed 257.6 times, the filing added.Suzhou HYC Tech is set to raise 97.2 million yuan from 40.1 million new shares, giving it a market cap of 9.7 billion yuan.Financial bloggers say the company is trying to falsely present itself as a chip maker. Photo: SCMP HandoutHuatai Chuangxin, a subsidiary of the IPO sponsor Huatai Securities, will buy 1.6 million shares, or 4.1 per cent of the IPO, as the Star Market's rules require the sponsor to invest in the company. The shares will have a lock-in period of 24 months.The company will take formal subscriptions on Thursday, and will announce the final allotment results on July 3.Yin Jun, a fund manager with Shanghai Bluelake Investment, said he would join the formal subscription process as he believes in the growth prospects of Suzhou HYC in the short term."Business wise, HYC resembles ChiNext-listed Wuhan Jingce Electronic. HYC's valuation turned out to be a bit higher than we expected, which makes it a bit more expensive than Jingce. But the new Star board is hot, as we see intense overbidding from investors," he said."But frankly speaking, I cannot tell if there will be many value investment opportunities in the new board," he added.Some financial bloggers have challenged the way HYC presented itself in the listing prospectus, alleging that it used too many references to "chips", although 98 per cent of the company's revenue comes from testing equipment for electronic displays."The company mentioned 'integrated circuit' 245 times and 'semiconductors' 122 times in its prospectus to make people believe it is a chip maker. But if you read carefully, you will find integrated circuits made up only 0.2 per cent of its total revenue in the past three years," according to a blog post by "Fangniutang" on WeChat. China officially launches technology innovation boardHYC issued a statement saying the claims made by bloggers were "factually wrong".The IPO pricing also confirmed an earlier commitment made by the Shanghai Stock Exchange to scrap an intangible valuation cap at 23 times earnings for IPO candidates.The Star Market, officially launched on June 13, was mooted by President Xi Jinping in November to give technology firms a new platform to raise funds as part of China's ambition to become a world-class player in the tech sector. China still 'exploring' international board for foreign companies to raise funds on Shanghai Stock ExchangeAnother IPO listing candidate on the Star board, Ankon Technologies, has been accused of inflating sales and the number of branches it operates, according to a report by online media jiemian.com on Wednesday.Ankon, which is based in Wuhan, issued a statement saying the claims made in the report were not factually correct.The Shanghai Stock Exchange issued a statement last Thursday, warning against provocative blogs on social media and reports in independent media outlets. However, the stock exchange issued a second statement later that day, with a softened tone, saying it welcomed supervision from the media.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.

  • London-Shanghai stock connect goes live, allowing foreign firms to list their shares in mainland China for the first time
    South China Morning Post

    London-Shanghai stock connect goes live, allowing foreign firms to list their shares in mainland China for the first time

    Foreign companies can list their shares in mainland China for the first time starting today, with the official launch of the long-awaited London-Shanghai Stock Connect scheme.The groundbreaking project, which will enable firms listed in the UK and mainland China to raise funds on each other's stock market, is seen as a major step for Beijing in its efforts to internationalise its markets. It had originally been scheduled to launch in December.Huatai Securities, one of China's largest brokerages, made its trading debut on the London Stock Exchange at 8am local time as it became the first company to trade via the new link. Investors in the UK capital were able to buy and sell global depository receipts in Huatai, which has raised US$1.54 billion through the flotation."With the development of the Shanghai-London stock connection scheme, foreign companies that have financing demands will be able to use it to raise funds in China," Fang Xinghai, a vice-chairman of the China Securities Regulatory Commission, told the annual Lujiazui Forum last week.The Shanghai-London link was first proposed during a visit by Chinese President Xi Jinping to the United Kingdom in October 2015.China's stock market has long been off-limits to foreign companies and investors because of the inconvertibility of the yuan.Beijing has been striving to liberalise the market over the past decade to keep pace with its increasing economic might. Beijing must show courage to fulfil its market promises, says China's economic reform guruUnder the Shanghai-London stock connect, only depository receipts " bank certificates representing shares in a foreign company " will be traded by investors.It is different from the stock links between Hong Kong and Shanghai, launched in 2014, and between Hong Kong and Shenzhen, launched in 2016, which allow investors to trade shares through local brokerages.The existing stock connections with Hong Kong give investors access to a large number of stocks, while the Shanghai-London trading system is more limited in its scope.Mainland Chinese retail investors are barred from trading depository receipts (DR) floated by international companies in Shanghai unless they have investment capital of at least 3 million yuan (US$435,000). China mulls 'end to foreign ownership limits' on financial firms"The listing of DR shares by British firms will offer mainland investors new investment options to diversify their risks," said Zhang Yulong, chief strategy analyst with China Securities."As the regulator will take a go-slow approach in approving the issuance of the DR shares in Shanghai, it will not largely dilute existing holdings on the mainland market."Huatai's depository receipts rose 2.4 per cent to US$21 at the open in London this morning.Hong Kong-listed shares of Huatai gained 1.5 per cent to HK$11.76 at the close on Monday. Its mainland-traded A shares inched up 0.9 per cent to 19.45 yuan.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.

  • Long-awaited London-Shanghai share listing project goes live
    Reuters

    Long-awaited London-Shanghai share listing project goes live

    Companies listed in Britain will be able to sell shares in China on Monday with the launch of a long-awaited London-Shanghai Stock Connect project that finance minister Philip Hammond called a chance to deepen "global connectivity". Under the Connect scheme, Shanghai-listed companies can raise new funds via London's stock market while British companies can broaden their investor base by selling existing shares in Shanghai. The project was intended to begin late last year with the December listing of Chinese brokerage Huatai, backed by Alibaba Group Holding Ltd. But the listing was delayed at the last minute.

  • Reuters

    UPDATE 2-Chinese brokerage Huatai prices London listing at bottom of range

    China's Huatai Securities has priced its London stock market listing at the bottom of its indicated price range in a deal that will help it to raise at least $1.5 billion. Huatai, one of China's largest brokerages, is expected to make its London market debut on June 17, becoming the first company to trade via the long-awaited London-Shanghai stock connect project. Its listing on the London Stock Exchange will coincide with Britain and China holding the next round of their Economic and Financial Dialogue (EFD), with Chinese Vice Premier Hu Chunhua leading a Chinese delegation to London on Monday.

  • Reuters

    UPDATE 2-Chinese broker Huatai to launch London-Shanghai Connect with $500 mln offering

    Huatai Securities Co Ltd effectively launched the long-awaited London-Shanghai stock connect on Tuesday with the announcement of plans to raise more than $500 million on the London Stock Exchange (LSE). Under the Connect, Shanghai-listed companies can raise fresh funds via London's stock market while British companies can broaden their investor base by selling existing shares in Shanghai. The launch comes as both China and Britain are entangled in geopolitical uncertainty related to the Sino-U.S. trade war and Brexit respectively.

  • Reuters

    BRIEF-Huatai Securities Says April Net Profit At 414.25 Mln Yuan

    May 8 (Reuters) - Huatai Securities Co Ltd : * SAYS APRIL NET PROFIT AT 414.25 MILLION YUAN ($61.16 million) Source text in Chinese: http://bit.ly/2VIZYld Further company coverage: ($1 = 6.7731 Chinese ...

  • Reuters

    BRIEF-Huatai Securities Says March Net Profit At 1.6 Billion Yuan

    April 9 (Reuters) - Huatai Securities Co Ltd : * SAYS MARCH NET PROFIT AT 1.6 BILLION YUAN ($238.51 million) Source text in Chinese: https://bit.ly/2D4CZpT Further company coverage: ($1 = 6.7083 Chinese ...

  • Reuters

    BRIEF-Huatai Securities Says 2018 Net Profit Down 45.75 Percent Y/Y

    March 29 (Reuters) - Huatai Securities Co Ltd : * SAYS 2018 NET PROFIT DOWN 45.75 PERCENT Y/Y Source text in Chinese: https://bit.ly/2uzo6aM Further company coverage: (Reporting by Hong Kong newsroom)

  • Reuters

    BRIEF-Far East Horizon Announces Disposal Of Underlying Assets

    March 13 (Reuters) - Far East Horizon Ltd: * ANNOUNCES DISPOSAL OF UNDERLYING ASSETS * UNIT TO SELL IFEL UNDERLYING ASSETS TO HUATAI SECURITIES (SHANG HAI) ASSETS MANAGEMENT COMPANY FOR RMB2.55 BILLION ...

  • Reuters

    BRIEF-Huatai Securities Says Feb Net Profit At 495.4 Million Yuan

    March 6 (Reuters) - Huatai Securities Co Ltd : * SAYS FEB NET PROFIT AT 495.4 MILLION YUAN ($73.86 million) Source text in Chinese: https://bit.ly/2tUEHWa Further company coverage: ($1 = 6.7069 Chinese ...

  • Reuters

    BRIEF-Huatai Securities Says Jan Net Profit 285.4 Million Yuan

    Feb 11 (Reuters) - Huatai Securities Co Ltd : * SAYS JAN NET PROFIT 285.4 MILLION YUAN ($42.11 million) Source text in Chinese: https://bit.ly/2N3Book Further company coverage: ($1 = 6.7770 Chinese yuan ...

  • Reuters

    BRIEF-Huatai Securities Says Dec Net Profit At 752.7 Million Yuan

    Jan 9 (Reuters) - Huatai Securities Co Ltd : * SAYS DEC NET PROFIT AT 752.7 MILLION YUAN ($110.13 million) Source text in Chinese: https://bit.ly/2GZCfXC Further company coverage: ($1 = 6.8344 Chinese ...

  • Reuters

    BRIEF-Huatai Securities Says Nov Net Profit At 237.8 Million Yuan

    Dec 6 (Reuters) - Huatai Securities Co Ltd : * SAYS NOV NET PROFIT AT 237.8 MILLION YUAN ($34.55 million) Source text in Chinese: https://bit.ly/2KYYZ8G Further company coverage: ($1 = 6.8831 Chinese yuan ...

  • Reuters

    Shanghai-London Stock Connect launch delayed by at least a month - sources

    The launch of the Shanghai-London Stock Connect scheme will be delayed at least one month, people with knowledge of the matter said, in a blow to Beijing's plan for at least one leg of the two-way investing scheme to be up and running by year-end. Last week, Huatai Securities became the first Chinese company to win approval from China's securities watchdog to sell shares in London, sparking widespread expectation its listing of Global Depositary Receipts (GDRs), initially planned for next week, would have marked the launch of the Connect scheme. The source added that a launch ceremony for the Connect, planned for next week in London, has been called off.

  • Reuters

    China's Huatai Securities plans to list in London on December 14: source

    Chinese brokerage Huatai Securities plans to list on the London Stock Exchange on Dec. 14 via the Shanghai-London Stock Connect, a person with direct knowledge of the plan said. Shanghai-listed Huatai, which counts Alibaba as a strategic investor, will soon publish a prospectus to issue Global Depositary Receipts (GDRs) in London, said the person, who is not authorised to speak to the media. Huatai's London listing will mark the launch of a long-awaited stock "connect" scheme between Shanghai and London.

  • Huatai Securities kicks off Shanghai-London Stock Connect
    Reuters

    Huatai Securities kicks off Shanghai-London Stock Connect

    China kicked off the long-awaited cross-border Shanghai-London Stock Connect on Friday, giving Chinese brokerage Huatai Securities the regulatory nod to list in Britain. Shanghai-listed Huatai Securities, which counts Alibaba (BABA.K) as a strategic investor, said in a filing with the Shanghai Stock Exchange that it has been given the green light by China's securities watchdog to issue global depository receipts (GDR) at the London Stock Exchange. Huatai didn't give a fundraising target on Friday, but it has previously said it aims to raise at least $500 million.

  • Reuters

    BRIEF-Huatai Securities Says Oct Net Profit At 303.06 Million Yuan

    Nov 6 (Reuters) - Huatai Securities Co Ltd : * SAYS OCT NET PROFIT AT 303.06 MILLION YUAN ($43.82 million) Source text in Chinese: https://bit.ly/2Ot5Ozo Further company coverage: ($1 = 6.9168 Chinese ...