Ultime notizie per China Merchants Bank (OTC:CIHKY) Azioni

CHINA MERCHANTS BANK

China Merchants Bank was founded in 1987 and is headquartered in Shenzhen. The bank is China's seventh-largest listed bank by assets, with the largest distribution network among China's joint-stock banks. CMB's network has been expanding rapidly. Its outlets are located mainly in China's more developed areas, including the Pearl River and Yangtze River deltas. The firm has 18% and 82% of its shares listed on the Hong Kong and Shanghai exchanges, respectively. It has no foreign strategic investors. China Merchants Group is its largest shareholder, with a 30% stake. Retail banking, corporate banking, and wholesale banking accounted for 57%, 41%, and 2% of total profit before tax, respectively, and 56%, 41%, and 3% of total revenue in 2023.

CHINA MRCHNTS BK UNSP/ADR by China Merchants Bank Co., Ltd.

China Merchants Bank Co Ltd

<ul>
<li>Taiying Group Ltd&nbsp;and subsidiary&nbsp;Taiying International Inc&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/03/n20138766/china-customer-relations-centers-inc-enters-into-definitive-merger-agreement-for-going-private-tra" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">inked an agreement</a>&nbsp;to acquire a 71.1% stake in Chinese e-commerce and financial services business process outsourcing (BPO) service provider&nbsp;China Customer Relations Centers Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ccrc#NASDAQ" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">CCRC</a>) for $6.50 per share.&nbsp;</li>
<li>The purchase price signifies a 37.7% premium to the November 27, 2020 closing price of $4.72 representing the last trading day before November 30, 2020, the date when the company announced the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/20/11/n18571090/china-customer-relations-centers-inc-announces-receipt-of-preliminary-non-binding-going-private-pr" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">&quot;going-private&quot; proposal</a>.</li>
<li>This amount also represented an increase of 21% over the $5.37 per share initially offered by the buyer group in their initial &quot;going-private&quot; proposal on November 27, 2020.</li>
<li>Taiying Group Ltd would be beneficially owned by a group of rollover shareholders, including CCRC CEO, Chairman and director Zhili Wang, CFO Debao Wang, director and VP Guoan Xu, Qingmao Zhang, Long Lin, Jishan Sun, and certain other shareholders.</li>
<li>Taiying Group Ltd had entered into a debt commitment under which&nbsp;China Merchants Bank Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/cihhf#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">CIHHF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/cihky#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">CIHKY</a>) has agreed to provide a secured term facility for the merger.</li>
<li>Price action:&nbsp;CCRC stock was higher by 11.9% at $6.29 in the pre-market session on the last check Friday.</li>
</ul>

News

Tech

Media

CCRC

CIHHF

CIHKY

China Customer Relations Centers Goes Private At $6.50/Share

JPMorgan Chase &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) is in plans to set up another&nbsp;wealth management joint venture in China, reports <a href="https://www.bloomberg.com/news/articles/2021-01-05/jpmorgan-said-to-be-in-talks-with-china-bank-on-wealth-venture?srnd=premium&amp;sref=TBDibEcD">Bloomberg</a>.
What Happened: The talks between JPMorgan and the commercial banking entity China Merchants Bank ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cihky#OTC">CIHKY</a>) are in the early stages and the U.S. bank may not have a controlling interest in the venture, people familiar with the matter told Bloomberg.
In November, JPMorgan <a href="https://www.benzinga.com/m-a/20/11/18160916/jpmorgan-one-step-closer-to-fully-owning-china-securities-venture">bought</a> a 20% stake from its local JV partner Shanghai Waigaoqiao FTZ, raising the American investment bank&rsquo;s control to 71%.
Why Does It Matter: The $53 trillion Chinese financial industry is witnessing a flurry of interest from&nbsp;financial entities after the regulators opened up the nation&rsquo;s economy to foreign investors. The new Chinese regulations allow foreign entities to exercise 100% control in their mutual fund joint ventures.
In the first week of December, there were <a href="https://www.benzinga.com/m-a/20/12/18688574/goldman-sachs-to-acquire-full-control-of-china-joint-venture-wsj">reports</a> that Goldman Sachs Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) will acquire 100% of Goldman Sachs Gao Hua Securities Co. (GSGH) &mdash; its securities venture in China.
Price Action: JPM stock closed at $125.87, 0.94% lower on Monday.
Photo courtesy: <a href="https://commons.wikimedia.org/wiki/File:Top_of_JPMorgan_Chase_Tower.jpg">Wikimedia</a>

Events

JPMorgan In Talks For Another Wealth Management Joint Venture In China: Report

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.
The November rally in U.S. equities may be garnering most of the attention (especially as we get closer to having a COVID-19 vaccine) but don&rsquo;t sleep on China.
Among Direxion&rsquo;s stable of leveraged ETFs, two of the five top-performing funds year to date provide magnified exposure to China. Here&rsquo;s a breakdown of what has driven each fund higher.
<h3>Daily CSI 300 China A Share Bull 2X Shares</h3>
The <a href="https://www.direxion.com/product/daily-csi-300-china-a-share-bull-2x-etf?utm_source=fajardo&amp;utm_medium=Benzinga&amp;utm_campaign=David" style="color:blue; text-decoration:underline">Direxion Daily CSI 300 China A Share Bull 2X Shares</a>&nbsp;(NYSE:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/chau#NYSE">CHAU</a>) finds itself higher by about 17% over the past month. The ETF, which aims to deliver 200% the daily performance of the CSI 300 Index, has been propelled to its current levels thanks to strength across a surprising array of consumer-driven sectors including financials as well as consumer staples and discretionary stocks.
Standouts within the ETF include China Merchants Bank (Pink: <a class="ticker" href="https://www.benzinga.com/stock/cihky#Pink">CIHKY</a>), higher by about 25% in November, and appliance manufacturers Gree Electric and Midea Group, which both rose about 15% during the month.
Bolstering these and other Chinese A-share equities in the index are strong consumer spending numbers. However, those spending numbers aren&rsquo;t from Chinese consumers. Instead, these A-shares are being supported through strong export numbers to consumer economies outside of China, in neighboring countries like Singapore, Malaysia, and even the U.S. and Europe.
China&rsquo;s own consumers are not so eager to spend, especially as an estimated 9% of its workforce remains unemployed. As a result, much of the country&rsquo;s economic traction is coming from the country&rsquo;s booming export figures, which may diminish if and when the world bounces back from the pandemic.
Nevertheless, the numbers have been an encouraging driver for Chinese stocks at large. And even though exports are the primary economic driver, they&rsquo;re not the only one.
In a dynamic that U.S. investors are very familiar with, companies with large online presences have dominated and become increasingly central to China&rsquo;s economy, as evidenced by the strength in <a href="https://www.direxion.com/product/daily-csi-china-internet-index-bull-2x-etf?utm_source=fajardo&amp;utm_medium=Benzinga&amp;utm_campaign=David" style="color:blue; text-decoration:underline">Direxion&rsquo;s Daily CSI China Internet Index Bull 2X Shares</a>&nbsp;(NYSE:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/cweb#NYSE">CWEB</a>). Though the trade has cooled off of late, CWEB has still more than doubled in 2020.
That return is the product of fairly consistent growth across most of the country&rsquo;s many internet giants. This of course includes e-commerce powerhouses Alibaba Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) JD.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jd#NASDAQ">JD</a>) and Meituan-Dianping (Pink: <a class="ticker" href="https://www.benzinga.com/stock/mpngf#Pink">MPNGF</a>), the latter of which has seen massive growth thanks to its online food delivery.
However, the biggest standout among this internet contingent is the recently IPO&rsquo;ed fintech KE Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/beke#NYSE">BEKE</a>), which has surged 72% since its listing in early August. Backed in part by Japan&rsquo;s SoftBank Group Corp (Pink: <a class="ticker" href="https://www.benzinga.com/stock/sftby#Pink">SFTBY</a>), the online property platform has drawn comparisons to Zillow Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zg#NASDAQ">ZG</a>) and has ridden on rising enthusiasm in China&rsquo;s economic resilience and sustained growth in boosting the nation&rsquo;s real estate market.
In addition to CHAU and CWEB, <a href="https://www.direxion.com/product/daily-ftse-china-bull-bear-3x-etfs?utm_source=fajardo&amp;utm_medium=Benzinga&amp;utm_campaign=David" style="color:blue; text-decoration:underline">Daily FTSE China Bull 3X Shares</a>&nbsp;(NYSE:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/yinn#NYSE">YINN</a>) (up 15% in the last month) and <a href="https://www.direxion.com/product/daily-msci-emerging-markets-bull-bear-3x-etfs?utm_source=fajardo&amp;utm_medium=Benzinga&amp;utm_campaign=David" style="color:blue; text-decoration:underline">Direxion Daily Emerging Markets Bull 3X Shares</a>&nbsp;(NYSE:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/edc#NYSE">EDC</a>) (up 29%) have also outperformed.
Ultimately, what continues to drive China&rsquo;s growth is its dedication to building itself by investing in public services and utilities like high-speed internet and essential infrastructure to bolster both its manufacturing and technological capabilities. These investments, combined with the allure of its rising middle class, appear <a href="https://www.wsj.com/articles/china-has-one-powerful-friend-left-in-the-u-s-wall-street-11606924454?mod=hp_lead_pos5" style="color:blue; text-decoration:underline">likely to keep Wall Street bullish on China</a> in spite of any geopolitical headwinds.
&nbsp;
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor&rsquo;s shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the performance quoted. Short term performance is not a good indication of the fund&rsquo;s future performance, and an investment should not be made based solely on returns.
For the most recent month-end and standardized performance <a href="https://www.direxion.com/etfs?utm_source=fajardo&amp;utm_medium=Benzinga&amp;utm_campaign=David" style="color:blue; text-decoration:underline">click here</a>
An investor should carefully consider a Fund&rsquo;s investment objective, risks, charges, and expenses before investing. A Fund&rsquo;s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund&rsquo;s prospectus and summary prospectus call 866-476-7523 or visit our website at <a href="http://www.direxion.com" title="www.direxion.com">www.direxion.com</a>. A Fund&rsquo;s prospectus and summary prospectus should be read carefully before investing.
Market Disruptions Resulting from COVID-19.&nbsp;The outbreak of COVID-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund.
CUSIP Identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard and Poor&rsquo;s Financial Services, LLC, and are not for use or dissemination in any manner that would serve as a substitute for a CUSIP service. The CUSIP Database, &copy; 2011 American Bankers Association. &ldquo;CUSIP&rdquo; is a registered trademark of the American Bankers Association.
Shares of the Direxion Shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 pm EST (when NAV is normally calculated) and do not represent the returns you would receive if you traded shares at other times. Brokerage commissions will reduce returns. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense reimbursements or recoupments and fee waivers in effect during certain periods shown. Absent these reimbursements or recoupments and fee waivers, results would have been less favorable.
The CSI 300 Index (&ldquo;Index&rdquo;) is calculated by China Securities Index Company (&ldquo;CSI&rdquo;). CSI does not make any warranties, express or implied, to any of their customers or anyone else regarding the accuracy or completeness of any data related to the Index. All information is provided for information purposes only. CSI accepts no liability for any errors or any loss arising from the use of information.
Investing in a Direxion Shares ETF may be more volatile than investing in broadly diversified funds. The use of leverage by a Fund increases the risk to the Fund. The Direxion Shares ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investment.
Direxion Shares Risks&nbsp;&ndash;&nbsp;There are special risk considerations relating to Stock Connect Program and RQFII and QFII investors and the Chinese A-Share market. The Stock Connect Program is subject to daily and aggregate quota limitations, and an investor cannot purchase and sell the same security on the same trading day, which may restrict the other funds&rsquo; or counterparties&rsquo; ability to invest in A-Shares through the Stock Connect Program and to enter into or exit trades on a timely basis. A-shares are issued by companies incorporated in the People&rsquo;s Republic of China (&ldquo;PRC&rdquo;). The A-share market in China is made available to domestic PRC investors and certain foreign investors, including those foreign investors that have been approved as Renminbi Qualified Foreign Institutional Investors (&ldquo;RQFII&rdquo;) or as Qualified Foreign Institutional Investors (&ldquo;QFII&rdquo;). The Fund&rsquo;s ability to achieve its inverse investment objective is dependent on the ability of other ETFs and counterparties to obtain their QFII or RQFII quota. If the Fund is unable to obtain sufficient exposure to the Index due to the limited availability of necessary investments or financial instruments, the Fund could, among other things, as a defensive measure, limit or suspend creation units until the adviser determines that the requisite exposure to the Index is obtainable. During the period that creation units are suspended, the fund could trade at a significant premium or discount to its NAV and could experience substantial redemptions.
Risks associated with investments in Chinese companies include, among others,&nbsp;(i) the small size of the market for Chinese securities and low trading volume, resulting in a lack of liquidity and in price volatility; (ii) currency devaluations and other currency exchange rate fluctuations or blockages; (iii) the nature and extent of intervention by the PRC government in the Chinese securities markets, whether such intervention will continue and the impact of such intervention or its discontinuation; (iv) the risk of nationalization or expropriation of assets; (v) the risk that the PRC government may decide not to continue to support economic reform programs; (vi) limitation on the use of brokers; (vii) higher rates of inflation; (viii) greater political, economic and social uncertainty; (ix) market volatility caused by potential regional or territorial conflicts or natural disasters and; (x) the risk of increased trade tariffs, embargoes and other trade limitations. These factors can directly affect A-shares, and may indirectly affect investments that derive their value from A-shares. Any reduction or elimination of access to A-shares will have a material adverse effect on the ability of the fund to achieve its investments objective.
Risks of the Fund include Effects of Compounding and Market Volatility Risk, Derivatives Risk, Leverage Risk, Market Risk, Market Disruption Risk, Aggressive Investment Techniques Risk, Counterparty Risk, Intra-Day Investment Risk, Daily Index Correlation/Tracking Risk, Other Investment Companies (including ETFs) Risk, and Emerging Markets Risk. Investing in, and/or having exposure to, emerging markets instruments involves greater risks than investing in issuers located or operating in more developed markets. Please see the summary and full prospectuses for a more complete description of these and other risks of the Fund.
Direxion Funds Risks&nbsp;&ndash; An investment in the Funds involves risk, including the possible loss of principal. The Funds are non-diversified and include risks associated with concentration risk which results from the Funds&rsquo; investments in a particular industry or sector and can increase volatility over time. Active and frequent trading associated with a regular rebalance of a fund can cause the price to fluctuate, therefore impacting its performance compared to other investment vehicles. For other risks including correlation, compounding, market volatility and specific risks regarding each sector, please read the prospectus.
Distributor for Direxion Shares:&nbsp;Foreside Fund Services, LLC.
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Long Ideas

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BABA

BEKE

CHAU

CWEB

Direxion Daily Emerging Markets Bull 3x Shares

MPNGF

SFTBY

YINN

Wall Street Remains Bullish On China

Intraday Update

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AACAF

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ABBRF

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ACDVF

ACGBY

ARCH BIOPARTNERS INC ORD by Arch Biopartners Inc.

ACHFF

ACKRF

ACNDF

ACNNF

ACOPF

ACRL

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ACUIF

ADAD

ADDDF

ADDYY

ADMT

ADYEY

AEGOF

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ALTERNATE HEALTH CORP ORD by Alternate Health Corp.

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ALEAFIA HEALTH INC ORD by Aleafia Health Inc.

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ANACONDA MINING INC by Anaconda Mining Inc.

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Australia and New Zealand Banking Group Limited

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ASCOT RESOURCES LTD by Ascot Resources Ltd.

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Stocks That Hit 52-Week Highs On Tuesday

<a href="http://www.pekintimes.com/article/20150510/NEWS/150509153" title="http://www.pekintimes.com/article/20150510/NEWS/150509153">http://www.pekintimes.com/article/20150510/NEWS/150509153</a>

Legal

BACHF

IDCBF

Bank of China, Industrial and Commercial Bank of China, China Merchants Bank Reportedly Processing Credit Card Payments for Counterfeiters -AP

Investors are taking profits on their China A-shares ETF investments. For the week ended March 25, China A-shares ETFs saw an outflow of $2.37 billion, the largest outflow since December 2014. It does not come as a surprise, as the A-shares ETFs have performed quite well over a short period of time and the powerhouse Chinese economy is finally starting to wind down.
<h3>
	Overview</h3>

	The Deutsche X-Trackers Harvest CSI 300 China A-Shares ETF (NYSE: <a class="ticker" href="/stock/ashr#NYSE">ASHR</a>) is up 10 percent year-to-date, while the Market Vectors China ETF (Market Vectors ETF Trust) (NYSE: <a class="ticker" href="/stock/pek#NYSE">PEK</a>) has gained 12 percent and the KraneShares Bosera MSCI China A Share ETF (KraneShares Trust) (NYSE: <a class="ticker" href="/stock/kba#NYSE">KBA</a>) has gained 12 percent in 2015. The A-shares have greatly outperformed their Chinese ETF peers, with the iShares FTSE/Xinhua China 25 Index (ETF) (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>) only up 4 percent this year.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/earnings/15/03/5365635/china-eastern-2014-profit-surges">China Eastern 2014 Profit Surges</a></bzrelatedlink>

	Another reason for the outflow could be the high valuations of the A-share listed stocks that have become expensive relative to Hong Kong-listed Chinese stocks. The Shanghai A-shares are trading at 13.3 times forward earnings, while the MSCI China is trading at just 10 times.

	Highlighted below are the three Chinese A-shares ETFs on the market.
<h3>
	Deutsche X-Trackers Harvest CSI 300 China A-Shares ETF</h3>

	ASHR is made up of 306 of the largest companies in the China A-shares market, an area historically only available to citizens of Mainland China. The holdings are distributed across nine sectors, with financials at 38 percent and industrials at 16 percent being the most heavily weighted sectors.

	The top individual holdings include:
<ul>
<li>
		Ping An Insurance Group Co (PING AN INS CO ADR) (OTC: <a class="ticker" href="/stock/pngay#OTC">PNGAY</a>) at 4.3 percent</li>
<li>
		China Minsheng Banking Corp Ltd (OTC: <a class="ticker" href="/stock/cmaky#OTC">CMAKY</a>) making up 2.7 percent</li>
<li>
		CITIC SECURITIES (OTC: <a class="ticker" href="/stock/ciihf#OTC">CIIHF</a>) coming in at 2.7 percent as well</li>
</ul>

	ASHR is up 86 percent over the last 12 months and 60 percent over the last six months. This niche ETF has an expense ratio of 0.80 percent.
<h3>
	Market Vectors ETF Trust</h3>

	PEK follows 301 A-share stocks that are distributed across 12 sectors. Financials at 40 percent and industrials at 15 percent are the largest sectors.

	The top individual holdings include:
<ul>
<li>
		Ping An Insurance Group at 4.1 percent</li>
<li>
		China Minsheng Banking, making up 2.8 percent</li>
<li>
		China Merchants Bank Co Ltd (OTC: <a class="ticker" href="/stock/cihky#OTC">CIHKY</a>), coming in at 2.7 percent</li>
</ul>

	PEK is up 89 percent over the last 12 months and up 60 percent over the last six months. The ETF has an expense ratio of 0.72 percent.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/pressreleases/15/03/n5367634/digital-china-announces-fy2014-annual-results">Digital China Announces FY2014 Annual Results</a></bzrelatedlink>
<h3>
	KraneShares Trust</h3>

	KBA provides exposure to 316 Chinese A-shares companies traded on the Shanghai and Shenzhen stock exchanges. The ETF is distributed across nine sectors, with financials at 38 percent and industrials at 19 percent.

	The top individual holdings include:
<ul>
<li>
		Ping An Insurance Group, with a 2 percent holding</li>
<li>
		Industrial &amp; Coml Bank of China Ltd(ADR) (OTC: <a class="ticker" href="/stock/idcby#OTC">IDCBY</a>) making up 1.8 percent</li>
<li>
		CITIC SECURITIES, coming in at 1.7 percent</li>
</ul>

	The A-shares ETF is up 79 percent over the last 12 months and up 55 percent over the last six months.

New ETFs

ASHR

CIIHF

CMAKY

IDCBY

PNGAY

Investors Flee China ETFs At Highs

China Merchants Bank Co (OTC: <a class="ticker" href="/stock/cihky#OTC">CIHKY</a>) reported a 32% rise in its first-quarter net profit.

China Merchants Bank's quarterly net profit rose to CNY11.64 billion (US$1.85 billion), from CNY8.81 billion, in the year-ago period.

Its net interest income surged 24% to CNY21.55 billion from CNY17.36 billion. However, net fee and commission income from credit cards and insurance products jumped 23% to CNY4.84 billion from CNY3.92 billion.

China Merchants Bank shares closed at $10.37 on Friday.

Earnings

China Merchants Bank Posts 32% Rise In Q1 Net Profit

China Merchants Bank Co (OTC: <a class="ticker" href="/stock/cihky#OTC">CIHKY</a>) reported a 40% rise in its 2011 net profit. 

China Merchants Bank's net profit for the period climbed to CNY36.13 billion (US$5.7 billion), versus CNY25.77 billion in 2010. 

Analysts were expecting a net profit of CNY34.93 billion.

China Merchants Bank Posts 40% Surge In 2011 Net Profit

Jefferies analyst Shujin Chen maintained a Hold rating on China Merchants Bank Co (CIHHF – Research Report) on January 5 and set a price target of ...

China Merchants Bank Co (CIHHF) Receives a Hold from Jefferies

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Reuters recently reported that UBS (NYSE:<a href="https://investorplace.com/stock-quotes/ubs-stock-quote/">UBS</a>) intends to <a href="https://www.reuters.com/business/finance/ubs-plans-restart-share-buybacks-logs-q4-loss-2024-02-06/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosmarkets&amp;stream=business">resume share repurchases</a> in 2024, doing as much as $1 billion in buybacks over the next year.&nbsp;



The move is part of the reallocation of cost savings it intends to find from the purchase of Credit Suisse. The integration plan for Credit Suisse includes finding up to $13 billion in cost savings by the end of 2026.&nbsp; &nbsp;



The share repurchases will likely accelerate should its cost savings goals be met over the next three years. This possibility has got me thinking about Chinese stocks and share repurchases. Chinese stocks have been hit more than most in the past year.&nbsp;



One of the best ways to buy China Class A shares is through the iShares MSCI China A ETF (BATS:<a href="https://investorplace.com/stock-quotes/cnya-stock-quote/">CNYA</a>). It tracks the performance of domestic Chinese equities listed on the Shanghai or Shenzhen Stock Exchanges. The ETF currently has <a href="https://www.ishares.com/us/products/273318/ishares-msci-china-a-etf">564 holdings</a>.&nbsp;



Many of its holdings have the cash flow necessary to do buybacks. Here are three that should be stepping up their share repurchases in 2024.&nbsp;



<h2>China Merchants Bank (CIHKY)&nbsp;</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/bank-stocks-300x169.jpg" alt='gold building with "bank" on the front to represent banking stocks'><div>Source: Shutterstock</div></div>


China Merchants Bank (OTCMKTS:<a href="https://investorplace.com/stock-quotes/cihky-stock-quote/">CIHKY</a>) is the third-largest holding in CNYA with a 1.78% weighting. Its shares are down nearly 36% over the past year.



The Chinese bank was founded in 1987. It was the first bank to undertake business outside of the government. Today, it has 1<a href="https://english.cmbchina.com/CmbInfo/About/DetailInfo.aspx?guid=ce1230c5-de69-441a-8861-d520fe3d287c">43 branches</a>, and 1,443 sub-branches, all located in 130 mainland China cities. According to the UK trade publication TheBanker.com, it is 11th on its most recent list of the Top 1000 World Banks.&nbsp;



The bank made the news recently in a bad way. The Chinese government gave Tian Huiyu, its former president, a <a href="https://www.bloomberg.com/news/articles/2024-02-05/china-hands-ex-merchants-bank-president-suspended-death-sentence">suspended death sentence</a> over bribes and insider trading. The official verdict gave the executive a two-year suspension (converted to imprisonment if he&rsquo;s not found guilty of more crimes in that time). He was arrested in Oct. 2022. As part of his arrest, he was kicked out of the Communist Party.&nbsp;



Despite the <a href="https://www.bloomberg.com/news/articles/2023-07-10/goldman-analysts-bearish-china-bank-view-draws-fresh-criticism">negative commentary</a> from Goldman Sachs regarding Merchants Bank&rsquo;s exposure to local government financing vehicles (LGFVs), the bank says that it only had $18.3 billion in loans to LGFVs at the end of 2022, about 13% of Goldman Sachs&rsquo; estimate.&nbsp;



In the nine months ended Sept. 30, 2023, Merchants Bank had <a href="https://s3gw.cmbimg.com/lb50.01-cmbweb-prd/cmbir/20231027/88a6b583-b67b-40d4-b32e-367eafaf57b7.pdf">260.2 billion</a> Chinese yuan ($36.2 billion) in operating profits. While 1.74% lower than the same period a year earlier, it has plenty to buy back its shares.&nbsp;



In January, buybacks of China A shares (<a href="https://www.bloomberg.com/news/articles/2024-02-07/everything-china-is-doing-to-rescue-its-battered-stock-market">$2.5 billion</a>) by Chinese companies were the highest monthly amount in the past three years.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



<h2>BYD (BYDDF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/byd-1600-300x169.png" alt="BYD Company Limited logo in front of their website. BYDDY stock."><div>Source: T. Schneider / Shutterstock</div></div>


BYD (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byddf-stock-quote/">BYDDF</a>) is the 10th-largest holding in CNYA with a 0.91% weighting. Its shares are down over 22% in the past year.



BYD became famous because Warren Buffett and Charlie Munger invested <a href="https://fortune.com/2023/02/16/charlie-munger-byd-stake-warren-buffett-berkshire-hathaway-china-tesla/">$230 million</a> in the Chinese automaker in 2008 when electric vehicles weren&rsquo;t even on the radar. It was Munger who pushed for Berkshire Hathaway (NYSE:<a href="https://investorplace.com/stock-quotes/brk.b-stock-quote/">BRK.B</a>), calling its founder, Wang Chuanfu, a cross between &ldquo;Thomas Edison and Jack Welch,&rdquo; Fortune reported.&nbsp;



Although Berkshire began selling down its stake in 2022, it still owns 87.6 million (8% 0f BYD) of the original 225 million shares. The holding company has long since got its initial investment back.&nbsp;&nbsp;



In January, BYD overtook Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) to become the <a href="https://www.cnn.com/2024/01/03/cars/china-byd-explainer-tesla-intl-hnk/index.html">world&rsquo;s largest</a> seller of fully electric vehicles. Although the company doesn&rsquo;t sell any of its passenger vehicles in the U.S. yet, it does sell its electric buses, which are made in California.&nbsp;



Its vertically integrated EV business makes its own lithium iron phosphate batteries for its needs and sells the rest to other car manufacturers.



At the end of January, BYD reported a preliminary 2023 net income of between 29 billion Chinese yuan ($4.03 billion) and 31 billion ($4.31 billion). The result was just shy of the top end of its analyst estimate for the year of <a href="https://www.bloomberg.com/news/articles/2024-01-29/byd-preliminary-net-income-rises-up-to-87-but-misses-estimates">31.5 billion</a> ($4.38 billion).&nbsp;



That&rsquo;s still an impressive profit. As a result of the company&rsquo;s significant profit for the year, BYD announced a share buyback of 200 million Chinese yuan ($27.9 million) in December.&nbsp;&nbsp;



It could easily afford to do 20x the announced amount without losing sleep. I&rsquo;m sure Buffett hopes it does.&nbsp;



<h2>Haier Smart Home (HSHCY)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/smart_home_a_1600-300x169.jpg" alt="A hand holds a smart phone up with a fancy living room behind it."><div>Source: zhu difeng / ShutterStock.com</div></div>


Haier Smart Home&nbsp; (OTCMKTS:<a href="https://investorplace.com/stock-quotes/hshcy-stock-quote/">HSHCY</a>) is the 38th-largest holding in CNYA with a 0.43% weighting. Its shares are down more than 19% in the past year.



Haier is the largest manufacturer of household appliances in the world. It uses smart technology to improve the consumer&rsquo;s home experience. Its brands include Haier, Casarte, Leader and GE Appliances.&nbsp;



In December, the company announced acquiring Carrier Global&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/carr-stock-quote/">CARR</a>) commercial refrigeration business for <a href="https://www.prnewswire.com/news-releases/haier-smart-home-acquires-carriers-commercial-refrigeration-business-for-usd-640-million-302014753.html">$640 million</a>. It paid approximately 11x the business&rsquo;s 2022 earnings.&nbsp;



Carrier&rsquo;s commercial refrigeration business has over 2,000 service technicians operating in 10 countries, including the U.S. The transaction is expected to close in the second half of 2024.&nbsp;



Up until the announcement of this acquisition, Haier didn&rsquo;t have a commercial segment of its business. It does now, which enables it to grow its presence in food retail refrigeration and cold storage.&nbsp;



In the first nine months ended Sept. 30, Haier had an operating cash flow of <a href="https://smart-home.haier.com/en/gpxx/?id=stock_structure&amp;spm=inverstor.31583_pad.irheader_20200506_2.3">13.2 billion</a> Chinese yuan ($1.83 billion), up from 11.3 billion ($1.57 billion) in the same period in 2022. Its free cash flow in the first three quarters was 7.13 billion Chinese yuan ($990 million).&nbsp;



In April 2023, its board approved a share repurchase program of 3.0 billion Chinese yuan ($420 million) over the next 12 months. With an annualized free cash flow of $1.32 billion, it has plenty to make the buys. However, the program put a ceiling of 32 Chinese yuan ($4.45) a share on the buyback.&nbsp;



As of Sept. 30, 2023, it repurchased 40.41 million A shares for 921.83 million Chinese yuan ($128.1 million), or 22.81 Chinese yuan ($3.17) per share.&nbsp;



It&rsquo;s likely to complete the minimum buyback required by the authorization of 1.5 billion Chinese yuan ($210 million) before the April 2024 deadline.&nbsp;&nbsp;&nbsp;&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/02/3-china-stocks-that-should-start-buybacks-right-now/">3 China Stocks That Should Start Buybacks Right Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 China Stocks That Should Start Buybacks Right Now

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