Entering the long holiday in April, the atmosphere is strong. Under the effect of the Ching Ming and Easter holidays, more than 400,000 Hong Kong people left Hong Kong for vacation last Friday, and Hong Kong stocks have shown signs of investor focus. In the past, Hong Kong people put money first, but now they emphasize a balanced life, and even the culture of the stock market is the same.American Easter holiday
After the Qingming Festival, the taste of US stock speculation may be maintained a little better.
Last week, U.S. stock speculation and inflation peaked and rose, and technology stocks performed particularly well. It was a bit unexpected to follow the sudden output cuts from oil-producing countries, which made oil stocks perform well for a while, and then the gains narrowed slightly. The rise in the boring market yesterday was that the mainland agency company E-House (2048) announced that it had signed a debt restructuring support agreement with Alibaba. Against the market, China Overseas (688) gained 6.5% to close at 20.2 yuan following being praised by the big bank Citigroup following its performance.
Chip smart concept stocks supported the market
In the past few years, the domestic real estate market has been in a world of ice and snow. After the central government took action last year, the situation improved slightly. Enterprises in the industry began to clean up the mess, and debt restructuring plans came out one following another. As one of the main intermediary agents in the Mainland, E-House proposed solutions for three overseas debts: senior notes due 2023, senior notes due 2023 and convertible notes. E-House’s plan is quite comprehensive. It plans to raise 480 million yuan in cash through shareholders’ rights issue, pay part of the principal and interest income of creditors, and promise that major shareholders will underwrite the rights issue. The bottom of the package is for burial. E-House has also sold 65% of its two core assets, CRIC, a real estate information and consulting service business, and Tmall Haofang and Leju, an online real estate marketing service business. E-House also took out 15% of the equity of the restructured assets to motivate the management. If the reorganization plan is finally passed, it will give the team full confidence in the development of various businesses.
E-House did not choose the debt extension plan, but directly eliminated debts, and raised funds through rights issue financing, major shareholder underwriting and core asset debt-to-equity swaps to ensure that creditors can obtain bond repayments in a relatively short period of time and maintain potential equity interest. rising earnings. As long as on the effective date of the reorganization, all outstanding old notes and convertible notes of E-House will be cancelled, and all guarantees and mortgages related to the old notes will be released, which is more thorough than simply postponing debt repayment. The announcement also disclosed that Alibaba has signed an agreement to support E-House’s overseas debt restructuring plan, and at the same time signed a new cooperation agreement with E-House: Alibaba grants E-House the exclusive right to attract investment, commercial pricing, and merchant operation rights for Tmall’s real estate industry. In order to protect the Tmall Haofang brand during the reorganization period, Alibaba temporarily withdrew the brand authorization and Tmall unified management.
E-House is facing difficulties under the stagnation of the mainland real estate market, but its debt is different from the capital-intensive developer industry. Real estate agents are operators of light assets, and they have always been more flexible in turning around. Therefore, the market reacts relatively positively to the restructuring plan. After SARS, the Hong Kong property market gradually recovered from the stillborn “80,000 50,000 housing plan”. The real estate agency stock Midland (1200) rebounded faster than real estate developers. It remains to be seen whether Hong Kong’s experience will be repeated in the mainland.
The Cyberspace Administration of China launched a cyber security review on the products sold in China by the US semiconductor giant Micron. The market interpreted that China has begun to counteract the US semiconductor industry. In addition, it will directly subsidize large companies to manufacture chips. Chinese-funded chips, semiconductors Stocks bucked the trend. SMIC (981) rose 7.5% to close at 20 yuan, making it the best performing blue chip stock; Hua Hong Semiconductor (1347) rose 6% to close at 36.75 yuan. A-shares in mainland China are speculating on the concept of data. There are not many such stocks in Hong Kong. AI smart stock SenseTime (020) has become a substitute, jumping 9% to close at 2.89 yuan.
Gambling wins are expected, and Macau gambling stocks perform well
Macau’s gaming revenue in March was 12.738 billion patacas, an increase of 2.47 times year-on-year, beating market expectations and hitting a three-year high. Macau gambling stocks rose once morest the market. Wynn Macau (1128) rose 9% to close at 8.42 yuan; Sands China (1928) rose 7% to close at 29.2 yuan; MGM China (2282) soared 7% to close at 10.4 yuan; SJM (880) rose 6% , to close at 4.17 yuan; Galaxy Entertainment (027) rose 6% to close at 55.55 yuan.
Jin Riku
