12.55 +0.14 (1.13%)
After hours: 7:47PM EST
|Bid||12.00 x 1400|
|Ask||12.43 x 1000|
|Day's Range||12.39 - 12.59|
|52 Week Range||11.08 - 14.70|
|Beta (5Y Monthly)||1.54|
|PE Ratio (TTM)||18.66|
|Forward Dividend & Yield||0.12 (0.95%)|
|Ex-Dividend Date||Jun 05, 2019|
|1y Target Est||N/A|
(Bloomberg) -- China Life Insurance (Group) Co., the parent company of the nation’s largest life insurer, is planning a backdoor listing of its key businesses in Hong Kong as early as this year, people with knowledge of the matter said.The Beijing-based conglomerate, which spans property and casualty insurance, banking and asset management, plans to inject its main assets into the listed China Life Insurance Co., which will in turn issue new shares to the parent, the people said, declining to be named because the plans are private.Listing the group would be a key step in Chairman Wang Bin’s bid to revitalize the firm, a drive unveiled last year to speed up market-oriented reforms at the 4.5 trillion yuan ($642 billion) state-owned giant and focus on business value rather than size.The move would also enable China Life Group to widen its access to capital markets without going through the more complicated and lengthy process of a separate initial public offering.China International Capital Corp. is advising on the deal, the people said. Still, deliberations are at an early stage and China Life hasn’t made a final decision on the plan, they said.Representatives for China Life Group and the listed unit didn’t respond to requests for comment. CICC declined to comment.China Life Insurance’s Hong Kong-listed shares rose as much as 3.4% in afternoon trade. The Shanghai-listed stock gained as much as 3.7%.The China Life Group was set up in 1996 as part of a restructuring of then state insurer People’s Insurance Co. It later spun off its core life insurance assets into China Life Insurance Co., which listed in Hong Kong, New York and Shanghai.While the unit has long held the largest share of the nation’s fast-growing life market, rival Ping An Insurance (Group) Co. -- known for aggressive reforms and innovation -- has expanded its market value in Hong Kong to almost double that of the state firm.China Life Group’s revenue topped 900 billion yuan last year, while third-party assets under management exceeded 1.4 trillion yuan, according to a Jan. 16 statement on its website.The listed unit, which is scheduled to release 2019 results in March, said last month that net income probably jumped as much as 420% last year, driven by better investment returns and tax relief.(Updates with CICC decline to comment.)\--With assistance from Dong Cao.To contact Bloomberg News staff for this story: Zhang Dingmin in Beijing at email@example.com;Haze Fan in Beijing at firstname.lastname@example.orgTo contact the editors responsible for this story: Katrina Nicholas at email@example.com, Peter VercoeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Let's talk about the popular China Life Insurance Company Limited (HKG:2628). The company's shares received a lot of...
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Panic coursed through the world’s second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China’s week-long trading break.The Shanghai Composite Index settled 2.8% lower after the close of trading, the worst end to a Lunar Year in its three-decade history. More than 90% of the mainland’s 4,000 stocks fell on volumes that were 20% above average, with foreign traders selling a record $1.7 billion worth of the shares via links with Hong Kong. The yuan weakened as much as 0.4% and government bond futures rose to the highest since 2016.Pressure is building on Beijing to contain a new SARS-like virus that’s killed at least 17 people and infected hundreds. The coronavirus first appeared last month in the city of Wuhan in central China, a city with 11 million residents -- more than in London or New York -- that’s now essentially in lockdown after officials halted public travel.Inside China’s Virus Zone, Unease Grips a City in Lockdown“Fear and panic are rampant,” said Wang Daixin, a fund manager at Bristlecon Pine Asset Management Ltd. “It’s hard to tell how bad things will get before a turn for the better. I didn’t get out when I had the chance to, so now I might as well sit it out rather than lose money. Others are offloading at whatever cost.”The virus and its potential impact on the economy and financial system pose a growing challenge for President Xi Jinping. It comes at a time when the Communist Party is seeking to maintain stability in the face of a trade war with the U.S., the spread of swine fever, a debt mountain, rising corporate defaults and protests in Hong Kong.China was criticized during the SARS epidemic 17 years ago for initially providing limited information and denying the scope of the problem.A gauge of consumer-staples stocks -- some of last year’s top performers -- extended this week’s loss to 6.4%, the worst since October 2018. The Lunar New Year is a typically strong season for traveling and spending as families gather for the celebrations. Macau casino stocks also tumbled as the city reported its second case of the novel coronavirus and announced it would cancel all Lunar New Year festivities.In Hong Kong, where two cases have also been confirmed, the Hang Seng China Enterprises Index dropped 2%. China Life Insurance Co. slumped to its lowest level in a month.The final day before the Lunar New Year break is historically a good one for stock investors: since its launch in 1991, the Shanghai Composite Index had ended the session lower on only six occasions.Shutting down Chinese markets has trained attention on the offshore yuan, as well as markets in Hong Kong and exchange-traded funds tracking Chinese stocks in New York or Europe. It will add an element of speculation to their prices before mainland bourses reopen on Jan. 31. Hong Kong traders, who still have Friday’s morning session before the break, will then return to their desks on Wednesday.In the U.S., owners of the more than $19 billion that track Chinese stock ETFs will have less information in deciding how much the securities are worth. The reaction from foreign investors can often be more severe: the Xtrackers Harvest CSI 300 China A-Shares fund, which holds mainland listed-shares only, fell twice as much as the underlying gauge earlier this week.Without being able to trade for a week, investors are heading into the holiday blind. After an extended break last May, the Shanghai Composite fell 5.6% as investors reacted to escalating trade tensions with the U.S. The sell-off wiped out almost half a trillion dollars from Chinese equity values.Bullishness Fades“There’s going to be no way for investors to make a decision or change positions until post-Chinese New Year,” said Gavin Parry, chief executive at Parry Global Group in Hong Kong. “Either you’re going to have last minute moves today and tomorrow to get positions in place and take them off, or when we come back -- we’re going to get some decent volatility then.”The virus has dented what had been growing enthusiasm toward equities. Confidence was riding high as Beijing signed a phase one trade deal with the U.S. and data signaled China’s economy was stabilizing. Margin debt had topped 1 trillion yuan as investors took on leverage to chase the rally, while privately-offered funds boosted their stock positions to the highest since early 2015.“Markets were too heated up and there is room for profit taking,” said Nader Naeimi, head of dynamic markets at AMP Capital Investors Ltd. “We have sold Hong Kong shares, China A futures against the long broad EM basket this week. We’re just waiting for some heat and froth to come out before closing the shorts.”\--With assistance from Livia Yap, Kevin Kingsbury, Gregor Stuart Hunter and Matt Turner.To contact Bloomberg News staff for this story: Sofia Horta e Costa in Hong Kong at firstname.lastname@example.org;April Ma in Beijing at email@example.comTo contact the editor responsible for this story: Richard Frost at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]
(Bloomberg Opinion) -- The world’s second-largest insurer by market value is struggling to reinvent itself as a unicorn hub. Wariness by public investors toward unprofitable companies spells bad news for Ping An Insurance (Group) Co., which has plenty of tech firms it wants to take public at some point.The latest casualty is OneConnect Financial Technology Co., a cloud-based back-end platform for banks and insurers. A planned initial public offering in the U.S. set for Thursday was cut by almost half to just $260 million from a target of $504 million. Ping An didn’t give an official reason. Valuations of the unprofitable fintech company will now fall to half of the $4.4 billion to $5.2 billion range floated when investors were sounded out last week.That’s a blow to Ping An’s “technology-plus-finance” ambitions. Will the insurer lick its wounds or plow ahead? It can have a word with Masayoshi Son, still smarting from the WeWork debacle. His SoftBank Vision Fund bought into OneConnect last year at a valuation of $7.5 billion. All this is a shame, because OneConnect is perhaps the Shenzhen-based company’s strongest spinoff, providing a needed service to financial institutions struggling with legacy computer systems. It operates in a less-competitive space than Ping An’s consumer-focused apps.Ping An Healthcare and Technology Co., the online platform better known as Good Doctor, is a medical portal that competes with Tencent Holdings Ltd.’s WeDoctor. Its Hong Kong post-listing performance has been weak. After languishing for much of the year under its IPO price, the stock has only recently been in the black.Then there’s Lufax, which is more than 40% owned by Ping An and is also struggling. The world’s most valuable financial technology startup just three years ago, Lufax was caught up in Beijing’s clampdown on peer-to-peer lenders and is now reshaping itself as a consumer-finance company. It’s safe to say it won’t be listing anytime soon.Even China’s hottest companies have struggled to raise capital. OneConnect’s travails don’t bode well for another of Ping An’s B2B firms, HealthKonnect. The cloud platform for the healthcare sector was valued at $8.8 billion after a fundraising early last year. Now, the unprofitable startup will have to push any potential IPO plans further down the road. Ping An’s tech ambitions have allowed it to trade at 2.35 times book value versus 1.44 times for rival China Life Insurance Co., though the state firm has outperformed it in the past 12 months. Ping An trails only Berkshire Hathaway Inc. in market value as an insurer globally, but it’s a lot more expensive than Warren Buffett’s firm, which trades at 1.4 times book.The 31-year-old company set up OneConnect only in 2015, and perhaps one day it will be more a tech giant than an insurer. But fintech and “healthtech” made up just 4.1% of third-quarter revenue. Investors should remember that. To contact the author of this story: Nisha Gopalan at email@example.comTo contact the editor responsible for this story: Patrick McDowell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
China Life Insurance, the nation's second-largest insurer, posted an almost threefold increase in profit for the first nine months, as a run-up in stocks bolstered investment gains and premium incomes rose.Net income for the first three quarters jumped 190 per cent from a year ago to 57.7 billion yuan (US$8.2 billion) based on the Chinese accounting standard, the insurer said in an exchange statement. The value of new business, a gauge of future profitability, grew by 20 per cent in the period, it said. China Life did not provide data for the third quarter alone in the report.A turnaround on China's Shanghai Composite Index significantly boosted profits of insurance companies, which are allowed to invest as much as 30 per cent of their assets in equities. The benchmark has risen 18 per cent so far this year, reversing an annual loss of 25 per cent in 2018, as policymakers loosen policies to offset the fallout of the China-US trade war and foreign inflows accelerate.China Life's investment yield was 5.72 per cent in the nine-month period, an increase of 2.31 percentage points from a year earlier, it said in the quarterly report. Premium incomes increased 6.1 per cent from a year ago to 497 billion yuan and the number of sales people rose by 10 per cent, to 1.95 million, it said. China Life looks to new technology to boost insurance sales as interim profit misses forecastsShares of China Life have surged 51 per cent this year in Shanghai and its Hong Kong-traded stock has risen 19 per cent.In July, China eased rules for foreign insurance companies looking to enter the country.China's insurance market is dominated by domestic players despite years of reforms. Foreign insurers have an 8.1 per cent share, a level that would suggest mainland consumers have yet to reap benefits that come with greater market competition, according to Moody's Investors Service.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.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
When it comes to diversified tech giant Alibaba (NYSE:BABA), being an investor comes with its share of harassment. Nevertheless, it's time to watch for a capitalist opportunity now that a key battle line has been crossed.Source: zhu difeng / Shutterstock.com For U.S. investors, profiting in Chinese stocks has been more challenging these days. Many large-cap stocks and industry leaders in China ranging from Tencent (OTCMKTS:TCEHY), to China Mobile (NYSE:CHL), China Life Insurance Company (NYSE:LFC) or China Petroleum & Chemical Corporation (NYSE:SNP) have produced lackluster or negative returns in their U.S.-listed American Depository Receipts. And certainly the trade war has been a drag on stock performance.But Alibaba stock has been different. That's not to say it's been easy. Still, the fact is BABA has gained about 23% in 2019. The return is more than the S&P 500's climb of 18% and towers above U.S. tech giant Amazon's (NASDAQ:AMZN) 13% year-to-date increase.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Why is Alibaba Stock Different?So, what is the deal with shares of BABA? Alibaba stock has and continues to defeat investors' fears within this macro-charged environment. Most recently BABA stock toppled Street profit and sales forecasts in mid-August. * 7 Beverage Stocks to Buy Now To be certain, there's always going to be something or someone trying to get investors to back away from buying Alibaba despite its successes. For some that might include recent reports the U.S. is considering delisting Chinese stocks. And that threat can't be entirely ignored. Or maybe fake merchandise sales in the past or allegations of accounting shenanigans have prevented investors from taking action in BABA stock?Okay, so there's plenty of reasons not to buy BABA shares. But obviously those arguments don't include price performance. Most important, Alibaba stock continues to come out on top despite headline warnings and a challenging market for Chinese stocks. Now and with BABA crossing an important battle line on the price chart, it's time to put shares on the radar for a well-timed purchase. BABA Stock Weekly ChartAs noted above, capturing BABA stock's gains of around 23% hasn't been a walk in the park. And as expressed, bad press isn't likely to just disappear. The better news is I also don't believe Alibaba's impressive rally is finished. I see a solid entry for a risk-adjusted purchase of BABA stock.The weekly chart shows that since failing from a breakout attempt to new highs last year, Alibaba stock has established a corrective symmetrical triangle base. It's not perfectly formed with clear-cut pivots to define the pattern, but the essence of this bullish formation is there.Following last week's price action, shares of Alibaba are in position to confirm a bullish engulfing candlestick which puts BABA stock back above the 50% retracement level of the base, as well as the triangle's apex line. With stochastics in a pullback set-up in neutral territory and on the verge of signaling a bullish crossover, the situation looks all the more promising. How to Trade AlibabaI'd recommend buying Alibaba shares above $174.88. This entry waits for the BABA stock price to confirm last week's candlestick and reinforces the bias for continued upside in the bullish triangle pattern. If BABA rallies, a breakout through angular resistance near $185 might be watched for adding shares on strength and before looking to take partial profits in-between $195-$215.For containing downside exposure in Alibaba stock, I'd keep an eye on the weekly stochastics to continue to support the position and set a modified stop-loss beneath $165 for a stronger risk-adjusted exit that offers sufficient evidence off and on the price chart for closing the trade.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post Alibaba Stock is a Strong Buy Now -- More Than Ever Before appeared first on InvestorPlace.
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...
In March 2019, China Life Insurance Company Limited (HKG:2628) released its earnings update. Generally, it seems that...
The Zacks Analyst Blog Highlights: China Life Insurance, JD.com, Qudian, China Southern and Sinopec Shanghai
The Zacks Analyst Blog Highlights: China Life Insurance, Qudian, Hexindai, JD.com and China Eastern Airlines