China Fund News reporter Ivan
html On March 20, the three major Hong Kong stock indexes opened lower and moved higher today. As of the close, the Hang Seng Index rose 0.08% to 16543.07 points; the Hang Seng Technology Index rose 0.65% to 3551.42 points; the Hang Seng State-owned Enterprises Index rose 0.41%, reported 5803.99 points.On the market, technology stocks generally rose, with Bilibili rising by nearly 3%, NetEase and Tencent rising by more than 1%, Kuaishou, Baidu, Alibaba, and JD.com rising slightly; oil stocks continued to be active, with China Oil and Gas Holdings rising by more than 5%, and CNOOC Services rose nearly 3%, and CNOOC rose more than 2%; many sporting goods stocks rose, Li Ning rose more than 5%, Taobo rose 3%, Xtep International and Anta Sports followed suit; the film and television entertainment sector led the day's gains, and China Literature Group rose Leading the gains in the Hang Seng Index by nearly 11%, Litian Pictures rose by more than 20%.
On the other hand, catering leaders were generally weak, with Yum China falling more than 6%; automobile stocks had mixed trends, with Ideal rising more than 4%, Xpeng rising nearly 2%, BYD rising slightly, Weilai falling more than 5%, and Zero Underperforming falling nearly 2%. 2%, Great Wall and Geely fell slightly.
Good results
The trendy toy leader soared more than 7%
html On March 20, the trendy toy leader Bubble Mart rose 7.39% to HK$24.70 per share, with a total market value of HK$33.171 billion.
On the news, at noon on March 20, Bubble Mart released its 2023 financial report. The financial report shows that during the reporting period, the company's revenue was 6.301 billion yuan (RMB, the same below), a year-on-year increase of 36.5%; gross profit was 3.864 billion yuan, a year-on-year increase of 45.6%; net profit was 1.082 billion yuan, a year-on-year increase of 127.5%. The company's revenue and net profit both hit record highs. Basic earnings per share are 0.81 yuan, and a final dividend of 28.21 cents per share is proposed.
It is worth noting that revenue from Hong Kong, Macao, Taiwan and overseas businesses reached 1.066 billion yuan, a year-on-year increase of 134.9%, and the revenue share rose to 16.9%.
Bubble Mart Company stated that in 2023, with the effective boost of a series of policies to expand domestic demand and promote consumption, residents’ consumption demand will be accelerated and residents’ willingness to travel will increase, driving the good development of offline businesses. The company continues to expand the international market and further promotes localized operations. While providing high-quality services, it has launched multiple new product series that are loved by consumers and achieved excellent sales.
Hong Kong's first autoimmune stock
once rose more than 40% on its first day of listing
html On March 20, "Hong Kong's first autoimmune stock" Quanxin Bio-b was officially listed on the main board of the Hong Kong Stock Exchange, with an issue price of HK$19.80 per share. On the first day of listing, it opened more than 38% higher, once soared more than 40%, and closed up 23.74% at HK$24.5 per share. The latest total market value was HK$5.441 billion.
According to its prospectus, Quanxin Biotech will sell 12,046,400 H shares globally in this IPO. Among them, the Hong Kong public offering was oversubscribed 162.15 times, making it the IPO project with the highest subscription multiple for Hong Kong's public offering since 2022. In addition, Jianxin Pharmaceutical, Huadong Pharmaceutical, and Feng Investment Capital participated in this issuance as cornerstone investors.
Judging from the performance of previous IPOs, Tsuen Sin Biotech’s public offering in Hong Kong was oversubscribed 163.15 times, making it the IPO project with the highest subscription multiple for public offerings in Hong Kong since 2022.
According to its prospectus, at present, Tsuenxin Biotech has established a comprehensive product pipeline covering the four main disease areas of skin, rheumatism, respiratory and digestive tract diseases in the autoimmune and allergy chronic disease tracks, including nine candidate drugs, including Six are in the clinical stage. According to Frost & Sullivan, as of March 2, 2024, Quanxin Biotech is one of the pharmaceutical companies in China that has obtained the most IND licenses in the field of autoimmune diseases and allergic diseases.
Editor: Captain
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