SOHO China (410) announced that Pan Shiyi resigned as chairman of the board and other positions; Pan Zhangxin resigned as CEO. Both will focus on philanthropy following their resignations and confirmed there is no disagreement with the board. Vice President Xu Jin and Qian Ting were appointed as executive directors and co-CEOs; Huang Jingsheng was appointed as non-executive chairman of the board of directors. The news was seen as positive, and SOHO China’s stock price jumped 11% to close at 1.51 yuan.
In mid-2019, SOHO China negotiated a sale to US-owned Blackstone. During the period of Central Tea Friends, they bought speculatively. The result was bitter and then sweet. The stock price soared during the negotiation process. The mainland regulatory authorities obstructed the shelving, and the tea lovers walked slowly and turned into “boats”. So far, the overall loss has become. SOHO China’s share price plunged, and misfortunes do not come singly. First, the selling failed, and then the Chinese property stocks collapsed. If the selling was successful at that time, Pan Shiyi and his wife would not only be happy on the shore, but also bring small shareholders to harvest at a high price. People would like to comfort themselves that SOHO China’s decline is much more “moderate” than other mainland property stocks.
Changing shifts before the 20th National Congress is seen as a positive
In terms of business operation, SOHO China is different from other private enterprises that mainly build residential houses. The main business is commercial buildings, and Pan Shiyi and his wife have already “received oil”. The Dagu property pays dividends. A long way from the financial red line. SOHO China’s stock price is not running, not entirely due to real estate market factors. It is generally believed that the company’s troubles have something to do with Pan Shiyi’s words and deeds over the years. Therefore, during the negotiation of the sale of the company to the United States, there were voices in the society expressing concern. After the transaction failed, Pan Shiyi appeared abroad, and the Internet appeared once more “Don’t run The voice of Pan Shiyi”, or for this reason, when the two announced their departure, the market will regard it as good news.
If SOHO China failed to sell last time for reasons other than economics, does the departure of the two show that the company has started a new phase? In terms of time, the mainland has announced the timetable for the 20th National Congress of the Communist Party of China in mid-October. From the time of the meeting, the outside world understands that it is earlier than expected, and it is interpreted that the internal political consensus has been successfully formed, so the meeting can be held earlier, and leaders even before the meeting. The company has planned to visit, and the company chose this time to reorganize the board of directors, which seems to have the meaning of turning a new page.
After the change of chairman and chief executive, whether SOHO China is back on the road, or still lingering in the shadow of the founder, will soon be revealed. From the perspective of minority shareholders, it would be good if the new management can carry forward, and it would be a good idea if the new management might maintain the past sales of properties to cash out and pay dividends to shareholders, and the most important thing is to reflect the value of assets.
Aerospace Science and Technology has a stir this year
The market pays attention to the political stability of the mainland and believes that it is beneficial to cope with the severe economic challenges. Under the impact of geopolitics, the two major engines of mainland export and domestic demand have been disrupted. Aberdeen further softened. Hong Kong stocks were dragged down by the financial and technology sectors. The Hang Seng Index jumped at most by 383 points, hit a low of 18,818 points, hitting a low of more than 5.5 months, and closed down 158 points, closed at 19,044 points, and regained the 19,000 mark. The China Enterprises Index closed at 6513 points, down 42 points; the KSE Index fell 52 points to close at 4014 points. The market fell for five consecutive days, down 910 points, with a turnover of 86.1 billion yuan. The blue-chip stocks fell significantly, among which the financial sector retreated. AIA (1299) fell 2% to close at 73.05 yuan, HSBC (005) fell 2% to close at 47.8 yuan; Hong Kong Stock Exchange (388) once fell more than 2%, reaching a low level At 300.2 yuan, the lowest level in more than two years, it closed down 0.8% at 304.4 yuan. Technology stocks fell across the board. Baidu (9888) fell 3.7% to close at 132.4 yuan; Kuaishou (1024) fell 4% to close at 62.75 yuan; Bilibili (9626) fell 4.2% to close at 176.3 yuan.
The hydrogen energy sector performed well in the falling market. China Energy Construction (3996) surged 15.6% to close at 1.11 yuan; CIMC Enric (3899) rose 4.3% to close at 9.16 yuan; Dongyue Group (189) soared 5.1 %, to close at 8.91 yuan. Auto stocks rebounded once morest the market trend. BYD (1211) rose 1% to close at 223 yuan; Great Wall Motor (2333) rose 0.5% to close at 11.5 yuan; GAC (2238) rose 0.9% to close at 6.79 yuan; but Geely Automobile (0175) fell 1.8% to close at 14.28 yuan.
BYD Electronics (285) surged 8% to close at 24.35 yuan; Huaneng International (902) rose 4.5% to close at 4.43 yuan. Hong Kong Aerospace Science and Technology (1725), which was included in the Shenzhen-Hong Kong Stock Connect earlier, rose 14% once morest the market and closed at 14.76 yuan. The stock has a lot of speculation. In April this year, the stock market atmosphere was good. The high nearly doubled to 26 yuan, and then the market turned, and the stock price ebb.
Jin Riku
