The sharp decline of US stocks pulled down Hong Kong stocks again, and the market repeated and retook the gains of the previous two days. Hong Kong stocks showed signs of decline today. The index generally turned green. The Hang Seng Index fell 500 points and the technology index fell nearly 4%.
On the one hand, Hong Kong stocks are affected by the expectations of the global economy. The overall external market weakened. Following the explosion of scientific and technological growth performance, the American consumer giants also disappointed, indicating that the economic downturn may be coming. At the same time, after digesting the favorable policies, Hong Kong stocks added downward factors as the company's performance surfaced in the first quarter.
house flash collapse 80%
The favorable real estate policies are frequently heard. Many Hong Kong stock companies have obtained institutional credit enhancement to restart financing. When the mortgage interest rate drops to a low point, a company suddenly collapses:
Territory holdings, a real estate enterprise in Sichuan, saw its share price plunge rapidly in the afternoon, with the largest intraday decline approaching 90%! At present, the company's share price is 93% lower than last year's high, and the market value is less than HK $600 million. The same Lingyue service group also fell 59.6% today, and its market value fell to HK $340 million.
Behind the crash was the company's dismal performance. In 2019, the territory hopes to hit the target of 100 billion yuan in the next two years, but the contract sales in 2021 is 23 billion yuan, less than 1 / 4 of the target. In 2021, the company's operating revenue is 15.05 billion yuan, a year-on-year increase of 14.41%, and the net profit attributable to the parent company is 488.4 million yuan, a year-on-year decrease of 43.22%.
At the same time, the company's liabilities are high. By the end of 2021, the net debt ratio of territory holding was 62.3%, and the asset liability ratio excluding advance collection was 72.1%. Due to the failure of the asset liability ratio excluding advance collection, territory holding still stepped on a red line as a "yellow" real estate enterprise in 2021.
In the first half of this year, rating agencies successively revoked the bond issuance rating. In March, Fitch said that the territory chose to stop participating in the rating. In April, Moody's said that it withdrew the rating for commercial reasons. Last October, it reduced the company's rating outlook from B2 to "negative".
Moody's predicted at that time that due to the tight financing conditions and the plight of more and more real estate enterprises, the confidence of home buyers was weakened and the contract sales of territorial holdings would decline in the next 6-12 months. This will weaken the company's operating cash flow and thus its liquidity. As Hong Kong stocks are not required to disclose quarterly reports, under the background of general dismal real estate enterprises this year, they have no chance to learn about the company's first quarter results.
In early May, in order to enhance market confidence, the boss of the company once took the initiative to increase his shares. On May 6, 2022, Liu Yuhui, chairman of the territory holding company, paid an average price of 3.5% per share HK $81 increased its holdings of 1.3 million shares, involving a capital of about HK $4.953 million, and the shareholding ratio increased to 74.63%.
Tencent fell sharply after its performance
Quarterly results came out, the performance of science and technology giants fell, and technology stocks fell first.
Today, Alibaba fell 7.39% and Tencent once fell below 8%. It took back the increase in the previous five days and closed down 6.51% at HK $341.8.
Tencent's revenue in the first quarter was 133.5 billion yuan, flat year-on-year. Under the pressure of games and advertising, its performance was lower than market expectations. The net profit of the company was 25.5 billion yuan, a year-on-year decrease of 23%.
Tencent takes games and advertising as its main business, and Internet finance has also developed rapidly. These businesses were greatly affected in the first quarter:
The local revenue of core business games fell by 1%. Although the game version number was liberalized, the market still lacked confidence in Tencent's continued launch of popular models like "glory of the king"; Affected by the economic boom, online advertising revenue fell by 18% year-on-year; The growth rate of mutual fund business, which has grown rapidly for many years, fell to 10%, far behind the 47% growth rate in the same period last year.
In the general environment, the market had expected the performance decline, but after the performance, many securities companies lowered the target price: bocom reduced 5% to HK $495; Bank of America reduced 5% to HK $497; CITIC reduced 7% to HK $490; Goldman Sachs cut its list price by 13% to HK $559.
vaccine progress, up 44%
With the accelerated mutation of covid-19 virus and the enhancement of immune escape ability, the world is actively developing the second-generation vaccine. As a financial market actively promoting the development of biotechnology, Hong Kong has accumulated a number of China's advanced drug development and vaccine development companies, and relevant companies have received more capital attention.
Clover biological program promoted covid-19 vaccine into clinical development, up 44% today.
It is understood that scb-2019 is a covid-19 recombinant protein candidate vaccine of the company. It has published clinical data in the well-known medical magazine the lancet under the title of "next generation covid-19 vaccine". After the release of preclinical data earlier this month, the company is planning to promote the vaccine to the clinical development stage.
Clover biology has long broken since it was listed at the end of last year, and its share price fell nearly 80% at the lowest.
It is worth noting that before the sharp rise in the share price of clover biology, there was an ambush of funds heading south. On May 16, Nanxiang capital net bought 465500 shares of clover biology, accounting for 26.67% of the trading volume of the day; As of the 16th, the cumulative net purchase of 5.841 million shares in the past five days and 9.502 million shares in the past 30 days accounted for 16.58% and 13.01% of the trading volume in the same period respectively.
