Chow Tai Fook (01929.HK) has reached a collaboration with the Hong Kong Palace Museum to fund a 5-year education project with 10 million yuan.
The Hong Kong Palace Museum of Culture and Chow Tai Fook Jewellery (01929.HK) have signed a cooperative agreement, with Chow Tai Fook Jewellery providing a sponsorship of 10 million yuan to the museum, launching the 'From the Ancient to the Gold' education project on Chinese gold craftsmanship and cultural heritage for a period of five years. Over the next five years, the project will focus on themes such as gold craftsmanship, gold ornament design, and cultural exchange, showcasing the thousands of years of history of Chinese gold craftsmanship through a series of activities and learning resources, benefiting at least 0.05 million people. Chow Tai Fook Jewellery Group Vice Chairman Zheng Zhiwen expressed the hope that through this project, the younger generation will be trained in jewelry making and design skills, as well as in Chinese art.
Citigroup listed the table of China's least crowded "crowded trade" theme buy stocks in "Daheng".
Citigroup's report indicates that recent policy changes in mainland China have led to a surprising reversal in investor sentiment. Investors who have held a negative view on China are now actively reducing their previous shareholding positions. Up to now, the bank has seen the biggest rebound coming from industries and stocks that are not considered 'crowded trades'. Since this trend may continue in the short term, the bank has curated a list of the least crowded and underinvested stocks in China, all of which are rated as 'buy': stocks: Hong Kong stocks and Chinese concept stocks such as Mengniu.
Hong Kong stocks surge | Chow Tai Fook (01929) rose nearly 6% intraday, NWS Holdings plans to rename to Chow Tai Fook Creation, Shanghai New World plans to sell Kai Tak Sports Park to Chow Tai Fook.
chow tai fook (01929) rose nearly 6% intraday, as of the time of publication, up 4.24%, at 7.86 Hong Kong dollars, with a turnover of 0.188 billion Hong Kong dollars.
Hong Kong stocks have been soaring for days on heavy volume, haven't jumped on board yet? These directions are still worth paying attention to.
In recent days, the heavy-duty policy bullish continues to catalyze, with large funds actively buying assets in China, and the market's bullish sentiment towards China has been fully ignited. Beneficiary sectors have already risen in advance. Lowering mortgage rates is bullish for consumer spending, with sectors like alcohol, gold, and jewelry taking the lead, while opportunities for biomedical and real estate stocks are worth looking forward to.
Spot gold has repeatedly hit new highs, are golden industrial concepts that deviate from the price of gold being wrongly killed?
This is also a microcosm of the golden industrial concept in the A/H markets. While the price of gold is reaching new highs, A/H golden industrial concept stocks have experienced the largest decline this year. Under the negative market sentiment, it seems that the gold narrative that the market talked about two months ago is no longer valid?
Announcement Highlights | China Life Insurance issued 35 billion capital supplementary bonds; Zheng Zhigang resigned as the President of New World Development.
HSBC has completed the issuance of Hong Kong's first private digital bond, with a total amount of 1 billion Hong Kong dollars; junshi bio's JS125 has obtained a drug clinical trial approval letter.
Chow Tai Fook Reveals Board and Committee Members
Chow Tai Fook Director Resigns for Public Service
Chow Tai Fook Jewellery: Adrian Cheng Chi-Kong Resigned as Executive Director
Chow Tai Fook (01929.HK): Zheng Zhigang resigned as an executive director.
On September 26, GeLongHui announced that Zheng Zhigang has submitted his resignation as an executive director of chow tai fook (01929.HK) and it will take effect on September 26, 2024, in order to dedicate more time to public services and other personal matters.
New World Dev (00017) is in discussions with Chow Tai Fook Enterprises regarding the potential sale of the group's entire equity holdings in KTSPL.
New World Development (00017) announced that the group has entered into a principal agreement with Chow Tai Fook Enterprises Limited (Chow Tai Fook Enterprises, the main company...
shanghai new world (00017.HK) plans to sell its stake in Kai Tak Sports Park Limited to Chow Tai Fook Enterprises
Shanghai New World (00017.HK) announced that it is in discussions with its major shareholder Chow Tai Fook Enterprises regarding the transfer of all shares in Kai Tak Sports Park Limited (KTSPL) to Chow Tai Fook Enterprises. Currently, a legally binding agreement has not been reached, and the potential sale is still subject to negotiations on key terms including the consideration amount and obtaining the necessary government and regulatory approvals. Shanghai New World stated that KTSPL is a limited company registered in Hong Kong. In 2018, KTSPL was awarded the design, construction, and operation contract for the Kai Tak Sports Park in Hong Kong. KTSPL is wholly owned by a subsidiary of the company.
An analysis of the 9.24 policy big gift package, super-expected policies may become the cornerstone of laying the turning point.
Jingu Finance News | After the Federal Reserve entered a rate-cutting cycle, the market has expectations for the opening of China's interest rate space and policy space. However, many participants may not have anticipated that the government's sudden combination of policies would have such a significant stimulating effect on the stock markets in Hong Kong and mainland China. On September 24th, the State Council held a press conference and introduced a series of financial support policies to support the high-quality development of the economy. These policies include the reduction of existing home loan rates, a comprehensive 50 basis point reserve requirement ratio cut, two innovative capital market support tools, a total of 800 billion yuan in market liquidity supplementation, and concerns about the stabilization fund.
nws holdings (00659.HK) intends to rename as "chow tai fook creation"
On September 25, Grontex announced that the board of directors of nws holdings (00659.HK) proposed to change the company's English name from "NWS Holdings Limited" to "CTF Services Limited", and adopt "chow tai fook creation limited" as the company's Chinese secondary name, to replace the existing Chinese name "新创建集团有限公司" for identification purposes.
Chow Tai Fook Life's annual new business value increased by 37%, with an annualized total premium soaring by 77%.
Newly established (00659.HK) announced the full-year performance as of the end of June this year, mentioning that the group's insurance business is expected to generate a significant increase of 54% in attributable operating profit in the 2024 fiscal year, recording an attributable operating profit of 0.9649 billion Hong Kong dollars. This remarkable performance is mainly attributed to business growth leading to an increase in contract service margin release, higher return on earnings assets, expected decrease in credit loss provisions, and a one-time impact related to the adoption of Hong Kong Financial Reporting Standard 17. Excluding the one-time impact related to the adoption of Hong Kong Financial Reporting Standard 17, the attributable operating profit of the insurance business increased by 34%. Benefited.
Hong Kong Travel Industry Union: Mainland tours during the National Day gold week did not meet expectations.
Alice Leung Fong-yuen, Chairman of the Hong Kong Travel Industry Union, stated that during the National Day Golden Week, there will be more mainland tour groups coming to Hong Kong compared to last year, with an increase in the number of visitors. However, it has not yet met the industry's expectations and the situation is not very ideal compared to before the epidemic. She mentioned that before the pandemic, there were over 300 to 500 mainland tour groups daily during the Golden Week, totaling 2,000 groups for the entire Golden Week. This year, it is expected to be no more than 1,000 groups, believed to be due to the current convenient transportation between the two places, leading to more independent travelers and day tours. In addition, Michael Wu Ying-wai, Executive Director of the Hotel Owners Association, mentioned that hotel occupancy and sales during the summer vacation period decreased by 10% to 20% compared to the previous year, hence affecting the National Day Golden Week.
CITIC Bank International lowered Chow Tai Fook (01929.HK) target price to 6.7 yuan, expecting a slowdown in short-term sales momentum.
Bank of China International's report suggests that the price of gold will continue to perform well, but the impact on Chow Tai Fook (01929.HK) may be mixed. On one hand, the bank expects an increase in the gross margin of the company's gold products. However, on the other hand, it is expected that the sales volume of its gold products may also face unfavorable factors, along with weak consumer sentiment. Overall, the bank anticipates that the company will still face a relatively slow sales momentum in the short term, which may lead to further operational leverage. Nevertheless, Bank of China International believes that reducing Chow Tai Fook's current dividend yield can provide some buffer, and still remains bullish on its brand image. When the market is ready to recover, Chow Tai Fook will be ready.
Hong Kong Market Speed Reads | The three major indices surged and then fell back, with the technology index and Hang Seng Index stopping the continuous rise; Electrical utilities stocks rose against the market trend, with CGN Power rising more than 5%.
Network technology stocks performed poorly, Xiaomi Group-W rose by 3.37%, Meituan-W fell by 2.28%; Electrical utility stocks rose, CGN Power increased by 5.24%, Huaneng Power International shares rose by 3.52%; Coal industrial concept stocks performed well, China Qinfa rose by 8.70%, Kinetic Dev increased by 7.35%;
CHOW TAI FOOK JEWELLERY(1929.HK):RATE-CUT DRIVEN GOLD RALLY UNLIKELY TO MITIGATE SHORT TERM WEAKNESS
Over 0.35 million mainland Chinese visited Hong Kong during the three-day Mid-Autumn Festival holiday period.
Mainland China's Mid-Autumn Festival holiday from September 15th to 17th ended, with over 0.35 million mainland visitors entering Hong Kong through various ports, an increase of about 49% compared to the daily average of mainland visitors last weekend. Mr. Tse Ting-bong, the Executive Director of the Travel Industry Council, stated that on the first two days of the Mid-Autumn Festival this year, there were over 0.14 million mainland visitors to Hong Kong on average, which is more than the usual nearly 0.08 million visitors on a regular weekend, expressing satisfaction with this performance, and hotel occupancy rates are also ideal. He mentioned that the hotel booking situation during the National Day holiday is favorable, with room rates for mid-range and budget hotels expected to increase by about 10% to 15% annually, and the occupancy rate is projected to reach 70% to 80%.
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