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Swapping China Resources for Shenzhen Metro Should End Shareholder Battle

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Equity Bottom-Up

On July 4, 2016, China Vanke resumed trading of its A-shares after more than six months of suspension. Share prices were volatile in both Shenzhen and Hong Kong. As expected, A-shares dropped 10%, hitting the daily threshold for a temporary trading halt, while H-shares rose 6.7% to HKD16.22. The share price volatility reflected the uncertainty surrounding the ongoing shareholder battle.While the board approved the plan with a vote of seven to three, three board members associated with China Resources Group voted against it. Further, China Resources Group has also challenged the legality of the vote, contending that with one board member abstaining, the vote did not obtain the required two-thirds of board members for approval. Analyst: Phillip Zhong

On July 4, 2016, China Vanke resumed trading of its A-shares after more than six months of suspension. Share prices were volatile in both Shenzhen and Hong Kong. As expected, A-shares dropped 10%, hitting the daily threshold for a temporary trading halt, while H-shares rose 6.7% to HKD16.22. The share price volatility reflected the uncertainty surrounding the ongoing shareholder battle.While the board approved the plan with a vote of seven to three, three board members associated with China Resources Group voted against it. Further, China Resources Group has also challenged the legality of the vote, contending that with one board member abstaining, the vote did not obtain the required two-thirds of board members for approval. Analyst: Phillip Zhong

提案されたリストラ計画は株主の承認を得られそうにない

China Vanke (H)

提案されたリストラ計画は株主の承認を得られそうにない