Latest news with #CICC
Business Insider
7 hours ago
- Business
- Business Insider
Simcere Pharmaceutical Group Limited (2096) Receives a Buy from CICC
In a report released yesterday, from CICC maintained a Buy rating on Simcere Pharmaceutical Group Limited (2096 – Research Report), with a price target of HK$12.80. The company's shares closed yesterday at HK$11.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Simcere Pharmaceutical Group Limited has an analyst consensus of Hold. The company has a one-year high of HK$13.36 and a one-year low of HK$5.08. Currently, Simcere Pharmaceutical Group Limited has an average volume of 15.74M.
South China Morning Post
5 days ago
- Business
- South China Morning Post
With The Monsters, Monkey King and Ne Zha, China's IP-driven businesses brace for growth
The rise of Pop Mart 's The Monsters series, as well as new games and animations reimagining mythological figures like the Monkey King and Ne Zha, has driven rapid growth in China's intellectual property (IP) industry in recent years, with analysts saying the trend is likely to continue. 'While the economy is sluggish, it continues to grow and generate consumption,' wrote Ivan Su, a senior equity analyst for Morningstar. 'This increasing growth in China will help lead to the creation of and investment in more home-grown IPs.' He said IPs were targeting consumers with rising incomes who desired social belonging and esteem. He added that consumers accustomed to spending on IPs made up a growing share of the population. For toys, China's IP sales were projected to grow at an annual rate of 17.2 per cent through 2029 after reaching 7.6 billion yuan (US$1 billion) in 2024, investment bank CICC said in a report last week, citing data from China Insights Consultancy. Over the same time period, global IP growth was expected to reach 8 per cent a year after hitting 525.1 billion yuan in 2024, CICC said, adding that China and Southeast Asia were expected to contribute nearly half of the industry's total growth over the next four years. But analysts said the industry's long-term momentum also depended on companies' ability to keep their IPs hot after the initial buzz faded. Pop Mart is an illustrative recent example. The Beijing-based toymaker behind the popular 'Labubu' dolls saw its shares plunge nearly 15 per cent last week after restocking its latest Labubu 3.0 series. The move sent resale prices tumbling temporarily and raised concerns that the company's rapid growth was cooling.
South China Morning Post
6 days ago
- Business
- South China Morning Post
China needs yuan-backed stablecoins ‘sooner rather than later', state media urges Beijing
Beijing must be proactive in 'adapting to the trend of stablecoins', and waiting is not an option as the US has a head start, warns an article on Monday in state media that simultaneously calls for leadership to consider legislation regulating stablecoins while hyping up their potential role in making the yuan a more global currency. Advertisement Securities Times, a publication under party mouthpiece People's Daily, said experts and industry insiders 'generally believe that, as an emerging payment tool, the unique advantages and potential risks of stablecoins cannot be ignored, and that the development of [yuan-backed] stablecoins should be sooner rather than later'. Unlike highly volatile cryptocurrencies such as bitcoin and ethereum, stablecoins anchor their values to a fiat currency or other reserve assets, and are meant to combine the efficiency of cryptocurrencies with the reliability of traditional money. While allowing stablecoins to proliferate without regulations would harm the country's financial system, forgoing such an efficient settlement tool could mean missing a golden opportunity for the yuan, the article warns. 'For China, which is promoting the global use of the yuan, proactively regulating stablecoins and therefore facilitating the internationalisation of the yuan might be a better solution,' the piece said. Stablecoins reduce the capital and time costs ... making cross-border transactions more convenient CICC analysts
Free Malaysia Today
6 days ago
- Business
- Free Malaysia Today
Hong Kong stocks edge down as investors eye funding conditions
Hong Kong benchmark Hang Seng was down 0.1%. (EPA Images pic) SHANGHAI : Hong Kong shares were slightly down today, as investors assessed the potential for tighter cash supplies and monitored tensions in the Middle East for a likely hit to sentiment. China stocks were mixed. China's blue-chip CSI300 Index was down 0.2% by the lunch break, while the Shanghai Composite Index gained 0.2%. Hong Kong benchmark Hang Seng was down 0.1%. The Hong Kong dollar slipped to 7.85 per US dollar today, hitting the weak end of its trading band for the second time since May 2023. The move may prompt the Hong Kong Monetary Authority to drain liquidity from the banking system to support the currency. 'Hong Kong market liquidity is unlikely to ease further and may even tighten as Hong Kong Interbank Offered Rates (HIBOR) have likely bottomed out and southbound inflows have slowed,' said Kevin Liu, strategist at China International Capital Corporation (CICC). The overnight HIBOR, a key barometer of liquidity, hovered near a record low at 0.01777%. 'Short-term liquidity tightening, uncertainties surrounding tariff negotiations, weakening economic data, and delays in policy support could all contribute to increased market volatility,' Liu said. Risk sentiment was further limited as global investors waited to see if Iran would retaliate against US attacks on its nuclear sites, with resulting risks to global activity and inflation. China's Coal Index rose 1.3%. Maritime shipping and port shares broadly rose, with Nangjing Port up to 10%. Hua Hong Semi listed in Hong Kong jumped 7%, after media reported that the US government weighs additional restrictions on China, including revoking waivers that allow global chip makers to access American technology in China.
Business Times
6 days ago
- Business
- Business Times
Montage is said to hire banks for US$1 billion Hong Kong listing
[HONG KONG] Chinese chip designer Montage Technology has hired banks for its planned Hong Kong listing that could raise about US$1 billion, according to sources familiar with the matter. The Shanghai-listed company is working with China International Capital Corporation (CICC), Morgan Stanley and UBS Group on the potential share sale, the sources said, asking not to be identified because the information is not public. Montage Technology said on Friday (Jun 20) that it was planning a Hong Kong listing, without providing further details. Deliberations are ongoing and plans may change, the sources said. A representative for UBS declined to comment. CICC, Morgan Stanley and Montage Technology did not immediately respond to requests seeking comment. Montage Technology listed on Shanghai's Nasdaq-style Star Board in 2019 and has a market capitalisation of about 93 billion yuan (S$16.7 billion). The US has been trying to curb Beijing's ambitions to build a domestic semiconductor industry, initially cutting China off from equipment used to make the most advanced electronic components and gradually broadening the rules. Chinese companies listed on mainland stock markets have been flocking to sell shares in Hong Kong as regulators give such deals their blessing and onshore fundraising remains constrained. The listings form the bulk of Hong Kong's pipeline of first-time share sales and have been a key driver of the resurgence in activity seen in the financial hub. BLOOMBERG
