HKEX

HKEx (388.HK): Soft 4Q21 Trading Volume; Expect Muted Quarterly Earning Results

Equity Bottom-Up
175 Views, 19 Jan 2022 05:36
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EXECUTIVE SUMMARY
  • 2021 full year ADT has grown 29% year-over-year compared with 2020. Trading activities in December continued to slowdown to year-end given the relative weak market sentiment and policy uncertainty.
  • We expect HKEX (388 HK) upcoming quarterly earning release (on Feb. 24) will be muted and estimate its 4Q21 revenue and profit will decline 3% and 7% year-over-year respectively. 
  • However, we remain bullish on HKEX (388 HK) with the view that China economy will likely rebound in 2022, which will drive the rebound of IPO activities and trading volume.
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Roger Xie
Equity Analyst, China and US
ChinaEquity Bottom-Up

10 year investment experience on public and private equity. Deep-dive fundamental research. Specialize in China and US m... 

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