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Shimao Services Sells Major Stake in Subsidiary
Hong Kong stocks unusual movement | Shimao Services (00873) once rose more than 13%, with the company expanding into 12 projects in the market in September, establishing subsidiaries to layout charging station business.
Shimao Services (00873) once surged more than 13%, as of the time of publication, it rose by 7.07%, closing at 1.06 Hong Kong dollars, with a turnover of 2.8246 million Hong Kong dollars.
Hong Kong stocks fluctuate | Property management stocks rise with mainland real estate, the effects of real estate policies gradually manifesting. Corporate debt restructuring may serve as a catalyst.
Property management stocks followed the mainland real estate stocks higher. As of the time of publication, Shimao Services (00873) rose by 10.1% to HK$25.6; Sino-Ocean Serv (02602) rose by 9.87% to HK$25.6; Sino-Ocean Serv (06677) rose by 7.94% to HK$0.68; A-Living (03319) rose by 6.1% to HK$3.48; Evergr Services (06666) rose by 5.81% to HK$0.91.
HSBC Research's investment rating and target price for residential and property management stocks (Table)
HSBC Research released a research report on the investment ratings and target prices of internal housing and property management stocks as follows: Stock | Investment Rating | Target Price Agile Group (03383.HK) | Hold | HK$0.7 C&D Intl Group (01908.HK) | Buy | HK$21.1 China Overseas (00688.HK) | Buy | HK$19.4 China Res Land (01109.HK) | Buy | HK$35.6 China Vanke (02202.HK) | Hold | HK$8 Sunlight REIT (00884.
HSBC Research: China Evergrande domestic debt restructuring positive news may boost market risk appetite and set a precedent for the industry.
HSBC Research published a research report stating that sunac (01918.HK) is promoting domestic debt restructuring. It is reported that the company plans to provide four options to creditors for the domestic bond restructuring plan in order to reduce the size of the domestic bonds by about half, reducing about 15.5 billion yuan RMB. It is believed that the bullish news can enhance market risk appetite. The bank pointed out that financially troubled domestic property developers continue to face tight liquidity issues after the first round of debt restructuring, mainly due to a decrease in contracted sales amounts. The key to the success of future rounds of debt restructuring by domestic property developers lies in whether they can effectively reduce existing debt burdens. It is believed that this time, sunac will
Shimao Services (00873.HK) subsidiary collaborates with partners to enter the electric vehicle charging station market and establish a joint venture company.
On October 31, Gronglo released an announcement. On October 31, 2024, shimao services (00873.HK) announced that its indirectly wholly-owned subsidiary, Chengdu Shimao Tiancheng, entered into an investment agreement with its joint venture partner (Hainan Zi Zai Chong New Energy Technology Co., Ltd.), agreeing to establish a joint venture company to construct and operate electric vehicle charging stations in China. According to the terms of the investment agreement, the registered capital of the joint venture company is RMB 0.4 billion. Chengdu Shimao Tiancheng will contribute RMB 0.196 billion, while the joint venture partner will contribute the remaining RMB 0.204 billion as the registered capital of the joint venture company. The joint venture company will be established.
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