Mid-day Quick View: Hong Kong stock market is in a volatile consolidation phase, and the Hang Seng Index is up more than 1%; network technology stocks are rising, with Alibaba up more than 4%.
Insurance stocks rose across the board, with AIA up more than 2%, Ping An Insurance and China Life Insurance up more than 1%; most lithium battery sectors were weak, with Ganfeng Lithium Corporation falling more than 5% and Tianqi Lithium Corporation falling nearly 4%.
PB master Yi Weidong takes over as general manager of China Merchants Fund Management. How will the two veterans bring new energy?
China Merchants Fund Management is under pressure and its management scale has declined. Its net income in 2023 is only 0.264 billion yuan, a decrease of 35%. China Merchants Fund Management is accelerating its layout for the newest public offering license and released job vacancies for the position of deputy general manager on July 23. The asset management industry is undergoing profound transformation towards service-oriented.
Li Wenfeng has been approved as the new director of Xinhua Retirement. Investment income was weak in the first quarter, how to compete in the annuity market in the future?
① Li Wenfeng has taken up the position of the new party secretary of Xinhua Retirement since March; ② Xinhua Retirement suffered a net loss of 1.3 million yuan in the first quarter, with its investment yield ranking relatively low in the industry; ③ Under the trend of personal retirement pension system, how will Xinhua Retirement differentiate and innovate in the future?
In Q2, the brokerage quality evaluation of BSE was noteworthy, with China Securities Co., Ltd. rising to the top, and Soochow Securities greatly improving to second place, up 16 places.
China Securities Co., Ltd. took the top spot in this evaluation; Soochow, Kaiyuan, Haitong, and SWHY ranked 2nd to 5th; Soochow Securities performed well in the latest quarterly practice quality evaluation, jumping from 18th in the previous quarter to 2nd; Haitong and Guojin also made significant improvements in their rankings, rising by 12 and 14 places respectively compared to the previous quarter.
Ping An Insurance has released an announcement responding to the plan to issue US dollar convertible bonds, intending to issue bond financing tools at once or in multiple times within the next 3 years.
Ping An Insurance plans to issue bonds as financing tools once or in stages within the next three years. It is possible that the financing is not due to its relatively weak performance or shortage of funds but for other purposes. If the financing proceeds are used for share buyback, it will provide support to the company's stock price.
Midday Review | The gains of the three major Hong Kong stock indices narrowed, and the technology index rose by about 1.3%; Network technology stocks rose, and Baidu Group rose nearly 11%.
Auto stocks performed well, with Evergr Vehicle rising by over 7% and Great Wall Motor rising by nearly 5%; insurance stocks rose across the board, with China Life Insurance, China Taiping, and Ping An Insurance all rising by over 2%.