In today’s briefing:
- Hongkong Land (HKL SP) Recycles Nine Floors Of One Exchange Square
- China Mobile (941 HK) Tactical Outlook Following Q1 2025 Results
- Deepexi Technology Pre-IPO Tearsheet
- Asia Real Estate Tracker (25-Apr-2025): HKEX buys 9 floors at Exchange Square for $810M.
Hongkong Land (HKL SP) Recycles Nine Floors Of One Exchange Square
- In a rare move, Jardine Matheson (JM SP)-controlled Hongkong Land (HKL SP) has sold nine floors (147,025 square feet) of One Exchange Square to HKEX (388 HK) for HK$6.3bn (US$810mn).
- HKL plans to use the proceeds to provide enhancements to the property sold, the reduction of net debt; and for a share buyback. Shares are up 9% as I type.
- HKL is focussed on divesting US$4bn to US$6bn of its balance sheet assets in the next three years. HKL’s CEO Michael Smith: “Recycling capital is our top priority right now“.
China Mobile (941 HK) Tactical Outlook Following Q1 2025 Results
- On April 22, 2025, China Mobile (941 HK) reported its Q1 2025 financial results, revenues substantially unchanged, but increase in net income and subscriber growth indicates resilience in its operations.
- The initial market reaction suggests mild disappointment, the stock retreated to a low <80 intra-week, then closed the week down at 80.85.
- Our price model shows an oversold state, while the time model indicates there is room for another week down, possibly a buy-the-dip opportunity (3 weeks down should be the limit).
Deepexi Technology Pre-IPO Tearsheet
- Deepexi Technology (1843779D CH) (DT) is looking to raise atleast US$100m in its upcoming Hong Kong IPO. The deal will be run by CITIC, CMBC, Guotai, Bocom International and SPDB International.
- The firm specializes in delivering AI solutions to enterprises to integrate their data, decisions and operations efficiently at scale.
- DT ranked first among specialized providers of large model AI application solutions in China’s enterprise large model AI application solution market in terms of revenue in 2024, according to F&S.
Asia Real Estate Tracker (25-Apr-2025): HKEX buys 9 floors at Exchange Square for $810M.
- Hong Kong Exchanges and Clearing Limited (HKEX) is purchasing 9 floors at Exchange Square in Hong Kong for $810 million, marking the top deal of the year.
- The California Public Employees’ Retirement System (CalPERS) fund has acquired an office tower near Shanghai Xintiandi for $316 million.
- Mitsubishi Estate has started construction on a $1.7 billion office project in London, further solidifying its presence in the city’s real estate market.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
