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"Fortune" praises the list of top chinese companies, with companies like Tencent and jd.com standing out in the internet technology sector.
Fortune magazine released the '2024 Most Admired Chinese Companies' list, in which the performance of internet technology companies is particularly outstanding, with a total of 9 companies on the list. Companies like Tencent (00700.HK) and JD.com (09618.HK) have significantly improved their rankings compared to last year. Other companies on the list include ByteDance, Xiaomi (01810.HK), Alibaba (09988.HK), KE Holdings (02423.HK), Didi Global, Meituan (03690.HK), and Trip.com (09961.HK).
Ministry of Commerce: Will introduce new consumer policies in the consumer sector, Beijing-Tianjin-Hebei-Chongqing will issue consumer vouchers for dining, culture and tourism, sports, etc.
According to internal media reports, Vice Minister of the Ministry of Commerce, Sheng Qiuping, stated that the Ministry of Commerce will work with relevant departments to introduce a new batch of policies in the consumer sector. For example, they will soon study and implement policies to promote the development of the initial launch economy, facilitate high-quality development of the wholesale and retail trade, support the trial construction of modern commercial and trade circulation systems in 20 cities including Shanghai, Tianjin, etc., launch pilot reforms in automobile distribution and consumption, and promote special action plans for healthy consumption. Five cities will also introduce supporting policies. For instance, Shanghai and Guangzhou will introduce policies supporting and incentivizing the first store opening, debut, and exhibition; Beijing, Tianjin, Shanghai, and Chongqing will issue dining, cultural tourism, sports, and other service consumption vouchers.
"Daiwa": Mainland retail sales far outperform the third quarter in October, expecting the stimulus policy effects to not yet be evident.
Daiwa's research report indicates that the trend of multiple consumer sub-industries in the mainland reflects more intense price competition. Although retail sales in the mainland in October were significantly stronger than in the third quarter of this year, the government's stimulus measures have not yet translated into stronger consumer confidence, with no substantial impact. However, the worst time seems to have passed. The bank points out a preference for exporters, essential goods, and domestic brands with the strongest pricing power such as Proya Cosmetics (603605.SH) and Anta Sports (02020.HK). The bank believes that consumer sentiment has begun to gradually recover, but it may take one to two quarters to see significant changes. The bank maintains its previous "
Morgan Stanley raised li ning (02331.HK) target price to 13.4 yuan, maintaining a "shareholding" rating.
JPMorgan's report pointed out that Li Ning (02331.HK) recorded a decrease in mid-single-digit retail revenue in the third quarter compared to a low single-digit decline in the second quarter and a low single-digit growth in the first quarter. Although the performance meets expectations, it lags behind Anta (02020.HK) and Xtep (01368.HK) in terms of mid-single-digit growth. However, the bank noted that Li Ning's retail revenue both online and offline has returned to positive growth since October, with steady performance during the National Day holiday, and operational indicators have also improved. They believe that the full-year sales forecast will maintain low single-digit growth, but still face challenges; the full-year net profit margin forecast remains in the low double digits.
Fresh funds from the Middle East are here to support! Saudi Arabia's first investment in china etf is about to be listed.
Saudi Arabia's first investment in china etf is expected to be listed on October 30, with an estimated fundraising size exceeding 10 billion Hong Kong dollars.
Goldman Sachs slightly lowered its target price for Xtep (01368.HK) to 6.6 yuan. The softness in the third quarter brings uncertainty to the revenue target.
Goldman Sachs released a report stating that xtep int'l (01368.HK) third quarter operational data fell below expectations, with retail sales growth in core business slowing to mid-single digits year-on-year, compared to 10% year-on-year growth in the second quarter, similar to Anta (02020.HK), and better than li ning (02331.HK) and Fila with mid-single digits and low single-digit declines. Emerging brands continue to lead annual guidance, with Skechers brand growing by over 50%. The bank believes that xtep's main brand retail sales in the third quarter did not meet management expectations, mainly due to weak consumer purchasing power, which may affect xtep's main brand.
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