Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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Equity Bottom-Up

<ul><li>Ant Group Co. Ltd. has offered to buy back some shares at a whopping 70% discount to the unrealized valuation for its ill-fated IPO, shortly after regulators hit the fintech giant with an almost $1 billion fine.</li><li>Ant Group announced Saturday that it had proposed to repurchase as much as 7.6% at a price that values the company at approximately 567 billion yuan ($78 billion).</li><li>The offer represents a roughly 40% discount to the approximate 960 billion yuan figure achieved in Ant Group’s last fundraising round in 2018, and is around 70% cheaper than the 2.1 trillion yuan valuation touted in its <a href="https://www.caixinglobal.com/2020-11-03/china-suspends-jack-mas-ant-group-shanghai-ipo-after-warning-101622696.html" target="_blank" rel="noopener">planned 2020 IPO</a>.</li></ul>

Ant Group Co. Ltd. has offered to buy back some shares at a whopping 70% discount to the unrealized valuation for its ill-fated IPO, shortly after regulators hit the fintech giant with an almost $1 billion fine.Ant Group announced Saturday that it had proposed to repurchase as much as 7.6% at a price that values the company at approximately 567 billion yuan ($78 billion).The offer represents a roughly 40% discount to the approximate 960 billion yuan figure achieved in Ant Group’s last fundraising round in 2018, and is around 70% cheaper than the 2.1 trillion yuan valuation touted in its planned 2020 IPO.

Ant Group Proposes Share Buyback at Roughly 30% of IPO Valuation

Cross Asset Strategy

<ul>
<li>Saudi Arabia /Cover Story: China looks to Saudi Arabia amid shifting sands in U.S. economic ties</li>
<li>China-U.S. /: In talks with Yellen, China demands removal of U.S. economic sanctions</li>
<li>Funds /: New rules for China’s $3 trillion private fund industry have more teeth, experts say</li>
</ul>


Saudi Arabia /Cover Story: China looks to Saudi Arabia amid shifting sands in U.S. economic ties
China-U.S. /: In talks with Yellen, China demands removal of U.S. economic sanctions
Funds /: New rules for China’s $3 trillion private fund industry have more teeth, experts say


CX Daily: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Alibaba’s core China marketplace GMV is on a stable recovery track which is likely to be better than consensus in 1QFY24 (March year-end), aided by discretionary consumption recovery and a low base.</li><li>Also, Alibaba’s strategic move to enhance merchant ROI and customer experience should gradually bear fruit.</li><li>Recovery in YoY revenue growth for cloud business is likely in a mild pace, since demand recovery takes time. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Alibaba’s core China marketplace GMV is on a stable recovery track which is likely to be better than consensus in 1QFY24 (March year-end), aided by discretionary consumption recovery and a low base.Also, Alibaba’s strategic move to enhance merchant ROI and customer experience should gradually bear fruit.Recovery in YoY revenue growth for cloud business is likely in a mild pace, since demand recovery takes time. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Alibaba (BABA US) – Fundamentals on Constant Recovery Track

<ul>
<li>Investment /: In Depth: Proposed Biden curbs could starve Chinese tech of early funding, expertise</li>
<li>Summer Davos /: Global debt crisis requires China, U.S. to put aside their differences, economist says</li>
<li>Law /: New law sets out China’s foreign relations goals, response to national security threats</li>
</ul>


Investment /: In Depth: Proposed Biden curbs could starve Chinese tech of early funding, expertise
Summer Davos /: Global debt crisis requires China, U.S. to put aside their differences, economist says
Law /: New law sets out China’s foreign relations goals, response to national security threats


CX Daily: Proposed Biden Curbs Could Starve Chinese Tech of Early Funding, Expertise

Equity Capital Markets

<ul><li>The Hong Kong Stock Exchange (HKEX) launched its new dual-currency counter Monday, and the first batch of 24 stocks had a total turnover of 163 million yuan ($22.9 million) on the first day.</li><li>The Hong Kong Dollar-yuan dual-currency counter allows investors to trade and settle designated shares in Hong Kong or mainland China currency, offering the potential to access new liquidity.</li><li>The model also lays the groundwork to support the next phase of development to allow investors from the Chinese mainland to trade Hong Kong-listed yuan, or renminbi, securities through the southbound Stock Connect, the HKEX said.</li></ul>

The Hong Kong Stock Exchange (HKEX) launched its new dual-currency counter Monday, and the first batch of 24 stocks had a total turnover of 163 million yuan ($22.9 million) on the first day.The Hong Kong Dollar-yuan dual-currency counter allows investors to trade and settle designated shares in Hong Kong or mainland China currency, offering the potential to access new liquidity.The model also lays the groundwork to support the next phase of development to allow investors from the Chinese mainland to trade Hong Kong-listed yuan, or renminbi, securities through the southbound Stock Connect, the HKEX said.

HKEX Launches Yuan Counter for Trading of Hong Kong-Listed Shares

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba (9988 HK)

CX Daily: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties

Saudi Arabia /Cover Story: China looks to Saudi Arabia amid shifting sands in U.S. economic ties China-U.S. /: In talks with Yellen, China demands...

Caixin Global

Alibaba (BABA US) – Fundamentals on Constant Recovery Track

Alibaba’s core China marketplace GMV is on a stable recovery track which is likely to be better than consensus in 1QFY24 (March year-end)

CMB International

CX Daily: Proposed Biden Curbs Could Starve Chinese Tech of Early Funding, Expertise

Investment /: In Depth: Proposed Biden curbs could starve Chinese tech of early funding, expertise Summer Davos /: Global debt crisis requires...

Caixin Global

HKEX Launches Yuan Counter for Trading of Hong Kong-Listed Shares

The Hong Kong Stock Exchange (HKEX) launched its new dual-currency counter Monday, and the first batch of 24 stocks had a total turnover of 163...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ant Group Proposes Share Buyback at Roughly 30% of IPO Valuation

Ant Group Co. Ltd. has offered to buy back some shares at a whopping 70% discount to the unrealized valuation for its ill-fated IPO, shortly after...

Caixin Global

CX Daily: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties

Saudi Arabia /Cover Story: China looks to Saudi Arabia amid shifting sands in U.S. economic ties China-U.S. /: In talks with Yellen, China demands...

Caixin Global

Alibaba (BABA US) – Fundamentals on Constant Recovery Track

Alibaba’s core China marketplace GMV is on a stable recovery track which is likely to be better than consensus in 1QFY24 (March year-end)

CMB International

CX Daily: Proposed Biden Curbs Could Starve Chinese Tech of Early Funding, Expertise

Investment /: In Depth: Proposed Biden curbs could starve Chinese tech of early funding, expertise Summer Davos /: Global debt crisis requires...

Caixin Global

HKEX Launches Yuan Counter for Trading of Hong Kong-Listed Shares

The Hong Kong Stock Exchange (HKEX) launched its new dual-currency counter Monday, and the first batch of 24 stocks had a total turnover of 163...

Caixin Global