Nov 22 HK closed lower, China higher, Asia mixed too.

22 Nov

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HSI -99pts (-0.4%) 24,951 HSCEI -41pts (-0.7%) 8,930 T/O HK$129.20bn (-5.4% DoD)  

HK/CHINA Connect Flows
Northbound Rmb 42,047m Sell 21,777m vs 20,271m Buy
Southbound HK$ 15,052m Sell 8,424m vs 6,810m Buy
Northbound Rmb 61,672m Sell 29,365m vs 32,307m Buy
Southbound HK$ 15,436m Sell 8,209m vs 7,228m Buy

Markets opened flat and trading sideways in the green but an increase in protests against covid lockdowns a concern for the market as some nations tighten up social distancing requirements.
Julius Baer releases its latest earnings and data out on Monday includes the latest flash euro zone consumer confidence reading for November.
US Futures
Futures opened slightly higher ahead of the holiday shortened trading week. Dow Futures +55pts, S&P +0.1% and NDX+0.2% 
Chicago Fed National Activity Index, Existing Home Sales
Earnings: Zoom Video, Jack in the Box, Agilent, Urban Outfitters.

CHINA CSI 300 closed +22pts (+0.5%) @ 4,912
CSI 300 opened higher after +VE comments in PBoC quarterly report about policy easing and the recovery although RRR cut in Q4 ruled out. Loan Prime Rate remained unchanged. Market worked better to 4,920 just before lunch. PM market trading weaker initially before working back to trade sideways around the 4,910 level into the close.
Leaders CATL, Moutai (price rise hopes), Metaverse plays, Semiconductors.
Laggards Metals, Property, Tourism and Chinext names.

Shanghai Comp +22pts (+0.6%) @ 3,582 T/O US$73,119m (+15% DoD)
Shenzhen Comp +208pts (+1.4%) @ 14,961T/O US$117,479m (+11% DoD)
ChiNext Comp +84pt (+2.3%) @ 3,794

Loan Prime Rate 1 and 5 year unchanged 
at 3.85% and 4.65% respectively.
PBoC quarterly report suggests further support for the economy.
In October 2021, China recorded production and sales

volume of passenger vehicles of 1.988 million and 2.007 million units, up 12.5% and 14.6% monthly, or down 4.7% and 5% yearly, as revealed by the statistics of China Association of Automobile Manufacturers (CAAM).  The yearly decline of 4.7% and 5% in production and sales volume of passenger vehicles in October narrowed by 9.2 ppts and 11.5 ppts from September's yearly downfall.

Pre market opened @ 25,057 +7pts vs -180pts ADR’s but saw some choppy initial trading before selling down mid morning to 24,922 lead lower by Wuxi Bio, Meituan (reports this week) and HSBC. Hardware (on the tech easing) and Macau names (on vaccination rate above 70% makes border opening more likely) +VE. PM saw initial selling to 24,870 before bouncing. Dipped again aruond 2:30pm but then worked better into the close.
GreatWall Mtr +VE after releasing a new NEV at the Guangzhou motor show. ECommerce weak on news of more fines for past uncleared acquisitions. Coal levels stabilising but thermal coal futures -60% from the peak. Pork prices said to have risen 35% from five weeks ago.
Bilibili weak after US$1.4bn convertible senior notes offering
HSI Index review names seeing some interest; effective 3 December.
Ecommerce under pressure on news of on-going anti-monoply measures.
Leaders Macau names, Gas, Machinery
Laggards Airlines, IPPs, Metals.

CHP reported 3 additional confirmed cases of covid, 
all mutant strains
After Market
Inflation Rate Oct 1.7% YoY vs 1.4% Sept (F/cast was 1.3%)
Inflation Rate Oct 2.8% MoM vs -2.3% Sept (F/cast was 2.3%)
The larger year-on-year rate of change in the Composite CPI in October was mainly attributable to the lowering of the ceiling of rates concession, from $1,500 per quarter for each rateable tenement to $1,000 starting from October 2021. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in October 2021 was 1.1%, marginally larger than that in September 2021 (1%). The larger increase was mainly due to the enlarged increases in electricity charges as well as the prices of fresh vegetables.

SHORT SELLING HSI Monday 19.5% vs 22% Friday
Top shorts 
Bud APAC (1876) 57%, HSBC (5) 43%, China Res Land (1109) 40%, PingAn (2318) 40%, Techtronics (669) 38%, SHKP (16) 38%, Sino Biopharm (1177) 38%, Citic (267) 37%, China Life (2628) 37%, Country Garden (2007) 33%, Galaxy Ent (27) 32%, Sands China (1928) 32%,  Shenzhou (2313) 31%,  CM Bank (3968) 31%, BoC Hong Kong (2388) 30%, Henderson Land (12) 30%,   China Overseas (688) 29%, Petrochina (857) 29%, CG Services (6098) 29%, ICBC (1398) 29%,  Hengan (1044) 28%, HKEX (388) 26%,  Wharf REIC (1997) 26%, Longfor (960) 26%, CKI (1038) 25%, MTRC (66) 25%,  CKH (1) 25%, Hang Seng Bank (11) 25%.


The Zhuhai Command Center for COVID-19 Prevention and Control issued a notice to adjust the prevention and control work on Zhuhai-Macau border, reported Radio Macau.  Based on current needs and the consensus of Zhuhai-Macau joint prevention and control mechanism, travelers entering the points of entry between Zhuhai and Macau must present their negative NAT results within seven days starting 1am on 23 November. Existing departure measures will remain intact.

CHINA TELECOM (00728.HK) announced the operating statistics for the month of October. Mobile subscribers exceeded 371 million. Net increase of mobile subscribers for the month was 1.58 million, easing from the 2.86-million net addition in September.  Of which, 5G package subscribers exceeded 168 million. Net increase of 5G package subscribers for the month was 12.95 million, accelerating from the 8.92-million net addition in September.

CHINA MOBILE (00941.HK) announced that in October, the total number of customers for mobile business was 957 million, representing a net additional customers of 1.4 million monthly, decelerated from 4.606 million in September. Among which, 5G package customers accounted for 356 million, a net addition of 24.299 million monthly, slackened from 27.076 million in September.

CHINA UNICOM (00762.HK) announced that the aggregate number of mobile billing subscribers for the month of October 2021 was around 317 million, with a net addition of 1.282 million subscribers. The cumulative net addition for the year was 11.024 million.  The aggregate number of 5G package subscribers was 143 million, with a net addition of 6.568 million subscribers for the month, decelerating from a 7.884-million net addition in September. The cumulative net addition for the year was 72.683 million.

TONGCHENG-ELONG (00780.HK) announced the result for the third quarter ended September 30, 2021. Revenue increased by 1.3% year-to-year to RMB1.939 billion. The net profit amounted to RMB231 million, down 6.6% yearly.

Standard & Poor's lowered BABA-SW (09988.HK)'s revenue growth forecast for the fiscal year ending March 2022 from 25%-35% to 20%-23%, conforming with the latest guidance of the company. Among which, EBITDA margin and larger scale of share buyback were assumed to be dampened by escalated competition and slackened economic growth in China. These two factors will reduce the net cash balance of the group by RMB10-20 billion.  It was estimated that operating cash flow of BABA-SW from FY2022 to FY2023 will be between RMB200-240 billion, compared with RMB237 billion in FY2021.

Regional Markets
Market trended lower, finding support at 7,340 after about an hour, rebounded to 7,374 and then traded sideways for most of the session but then dipped into the close. -43pts (-0.6%) @ 7,353
Energy names leading the declines but travel and leisure also weak Miners seeing some interest as Iron Ore prices rebound. Crown Resorts eased back after Friday’s rally; its being encouraged to allow Blackstone inspect its books in hopes that might result in an even higher offer. Nuix weak after confirming a class action claim being filed against it. Anteris strong on successful placing its 3D heart valve into 5 patients. AMP Capital reported keeping its Office Fund after exploring options for selling it.
Markets will be closed Tuesday
Nikkei opened lower and initially tested 29,550 but worked better through the morning and broke into positive territory in the PM session; currently +41pts (+0.14%) @ 29,785 but saw resistance at 29,800 and closed +28pts (+0.1%) @ 29,774.
Topix opened lower, tested 2,030 in early trades before working higher and pm testing flat a number of times but failed to break out and closed -2pts (-0.1%) @ 2,043
Leaders Shippers +VE along with Healthcare, Financials and Property.
Weakness in Energy, Materials, Communications and Consumer Staples.
Expect cautious trading into the close ahead of tomorrow’s holiday. Market re-opens Wednesday.
S Korea 
Foreign & Local Institutions buying Tech (SEC & Hynix +VE) but Gaming/NFT’s seeing profit taking after recent rally (Giant, Kakao Games, COM2US etc weak). Auto’s +VE on expectations that chip shortage will ease next year.
Kospi opened higher but saw some resistance approaching 3,000 eased then tested again and broke above that level mid morning and worked higher test 3,010 before breaking above that late in the afternoon and closed +42pts (+1.4%) @ 3,013.
Kosdaq opened +VE but sold down to 1,023 by late morning before a bounce to 1,030 and then traded sideways for most of the rest of the session before seeing an uptick to close -10pts (-0.9%) @ 1,032
Taiex opened higher and tested 17,840 in early traded but then sold down to 17,790 before rebounding. Effectively trading sideways around flat and closed -15pts (-0.1%) @ 17,804
DRAMS +VE as Micron CEO says shortages easing +VE Nanya Tech and Winbond. Shipping +VE as freight rates remain high. Compeg +VE as a megaverse play
T/O wasUS$11.26bn vs US$14.29bn Friday
CECC reported 3 new covid cases all imported
Talking about the market concern on the business opportunities of Metaverse, GSEO (3406.TW) Chairman Jones Chen said the company has been shipping the related optical elements, Taiwanese media Commercial Times reported. Based on customers' planning and vision on the industry, GSEO may amplify the related production
volume phenomenally from next year, foretold Chen.
After Market Data
Export Orders Oct 14.6% vs 25.7% Sept (F/cast was 23.5%)
Unemployment Rate Oct 3.84% vs 3.92% Sept (F/cast was 3.87%

Active Heavyweights

MEITUAN (03690.HK) -6.800 (-2.422%) Short selling $555.79M; Ratio 18.836% closed at $274, down 2.4%
BABA (09988.HK) -2.200 (-1.579%) Short selling $702.83M; Ratio 23.305% closed at $137.1, down 1.6%
AIA (01299.HK) +1.000 (+1.182%) Short selling $157.75M; Ratio 15.998% closed at $85.6, up 1.2%
TENCENT (00700.HK) -1.600 (-0.323%) Short selling $525.04M; Ratio 13.754% closed at $494.4, down 0.3%
CCB (00939.HK) -0.010 (-0.192%) Short selling $95.74M; Ratio 26.615% closed at $5.2, down 0.2%

HSI & HSCEI Constituents on Move:
SUNNY OPTICAL (02382.HK) +16.800 (+7.721%) Short selling $191.81M; Ratio 17.264% closed at $234.4, up 7.7%
HAIDILAO (06862.HK) -1.380 (-6.998%) Short selling $133.13M; Ratio 19.975% closed at $18.34, down 7%
NONGFU SPRING (09633.HK) -3.100 (-6.339%) Short selling $147.69M; Ratio 26.779% closed at $45.8, down 6.3%
JD HEALTH (06618.HK) -4.600 (-6.146%) Short selling $224.39M; Ratio 35.548% closed at $70.25, down 6.1%
AAC TECH (02018.HK) +2.050 (+5.951%) Short selling $54.31M; Ratio 13.382% closed at $36.5, up 6%
BYD COMPANY (01211.HK) +17.200 (+5.737%) Short selling $220.59M; Ratio 15.164% closed at $317, up 5.7%
JD LOGISTICS (02618.HK) -1.600 (-5.079%) Short selling $23.50M; Ratio 15.423% closed at $29.9, down 5.1%
SUNAC (01918.HK) -0.780 (-5.065%) Short selling $48.97M; Ratio 12.904% closed at $14.62, down 5.1%
SANDS CHINA LTD (01928.HK) +0.870 (+4.466%) Short selling $112.77M; Ratio 29.424% closed at $20.35, up 4.5%
WUXI BIO (02269.HK) -4.900 (-4.430%) Short selling $133.09M; Ratio 16.517% closed at $105.7, down 4.4%
GEELY AUTO (00175.HK) +1.100 (+4.231%) Short selling $112.15M; Ratio 15.314% closed at $27.1, up 4.2%
CG SERVICES (06098.HK) -2.050 (-3.818%) Short selling $168.77M; Ratio 30.934% closed at $51.65, down 3.8%
GALAXY ENT (00027.HK) +1.600 (+3.459%) Short selling $139.56M; Ratio 28.051% closed at $47.85, up 3.5%
NTES (09999.HK) +5.400 (+3.017%) Short selling $210.33M; Ratio 36.796% closed at $184.4, up 3%

HSMI & HSSI Constituents on Move:
HENGTEN NET (00136.HK) +0.620 (+27.193%) Short selling $13.61M; Ratio 4.004% closed at $2.9, up 27.2%
KOOLEARN (01797.HK) +1.590 (+23.043%) Short selling $49.71M; Ratio 24.248% closed at $8.49, up 23%
HUTCHMED (00013.HK) +5.700 (+11.777%) Short selling $13.10M; Ratio 10.711% closed at $54.1, up 11.8%

Market News

Tianjin Baishou Health Technology was established last Friday (19th), being 100% controlled by Shenzhen Baishou Health Information Technology  according to information from Qichacha. The latter is a wholly-owned subsidiary of Shanghai Sankuai Technology, an affiliate of MEITUAN-W (03690.HK).  The legal representative of Tianjin Baishou Health Technology is Li Jinfei. With a registered capital of RMB10 million, the new entity is engaged in (prepackaged) dietary supplement sales, hospital management and remote health management services.

AAC TECH (02018.HK) Executive Director cum CEO Pan Benjamin Zhengmin increased 500,000 shares of the company at an average price of approximately $34.72 per share on market last Thursday (18th), involving approximately $17.3579 million, as revealed by the Stock Exchange. As a result, Pan's stake in AAC TECH rose to 41.02% from 40.98%.  AAC TECH's share price rallied 7.4% to $37, on
turnover of about $515 million.

LU Hong Kong under Lufax Holding (LU.US) an associate company of PING AN (02318.HK) (601318.SH), announced that its mobile app "LU HK App" has officially rolled out the H-share trading function, which also provides IPO subscription services, becoming an all-rounded online integrated wealth management platform.

CHINASOUTHCITY (01668.HK) has paid off interests on the US$10-million bond due 20 November, foreign media citing a spokesperson for the company.  The  outstanding principal amount of the 7.25% bond due 2022 is US$276.5 million, according to data.

Chinese President Xi Jinping virtually attended and presided over the Summit Commemorating the 30th Anniversary of China-ASEAN Dialogue Relations in Beijing today (22 November), reported CCTV News. China is willing to provide ASEAN with further development aid worth US$1.5 billion in the coming three years, so as to kick off international development partnerships and negotiations for deals.  Giving full play to the role of the Regional Comprehensive Economic Partnership, President Xi spoke of the start of the "China-ASEAN Free Trade Area 3.0" buildout as China strives to import US$150-billion agricultural products from ASEAN in the coming five years. Equally, Beijing seeks high-quality co-development of the
Belt and Road Initiative, as well as the ASEAN Outlook on the Indo-Pacific.

Macao's Information from the Statistics and Census Service (DSEC) indicated that visitor arrivals decreased by 47.8% month-on-month to 328,200 in October on account of the tightening of cross-boundary measures between Zhuhai and Macao in early to mid-October; the figure also represented a drop of 43.6% year-on-year.
Numbers of same-day visitors (216,800) and overnight visitors (111,400) fell by 20.8% and 63.9% year-on-year respectively.

Fitch Ratings downgraded CHINA AOYUAN (03883.HK)'s Long-Term Foreign-Currency Issuer Default Rating (IDR) from 'B+' to 'B-', having placed its ratings on Rating Watch Negative (RWN). The Chinese developers' senior unsecured rating and the ratings on the  outstanding US-dollar senior unsecured notes were reduced from 'B+' to 'B-'. Its Recovery Rating was 'RR4'. The downgrade and RWN indicated CHINA AOYUAN's fading refinancing ability next 12 months, especially the US$688-million public senior notes due in January 2022. Fitch saw some options for the company to address upcoming maturities through asset disposal, which shall take time and be prone to execution risks.

Overnight HIBOR last posted at 0.05179%, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.09696%, up for 5 days, marking a 1-month high.

GREATWALL MOTOR (02333.HK) announced the launch of the first luxury pure electric sedan under the Saloon high-end new energy sub-brand.  Saloon is a new smart and high-end EV brand planned by GREATWALL MOTOR at end-2020, set to enter the luxury all-electric vehicle market leveraging its high-performance "mecha" sports cars. The pre-sale price of the first batch of 101 limited edition Saloon cars available worldwide will be RMB488,000 per unit.

SenseTime announced the strategic cooperation agreement with CHINA TELECOM (00728.HK)'s Shanghai branch. Capitalizing the advantages of CHINA TELECOM Shanghai in cloud network and 5G, both parties will jointly provide medical institutions with SenseCare, a smart diagnosis platform based on the cloud network convergence advantages of CHINA TELECOM. As its initial target, the platform will cover 30 hospitals in Shanghai, and render a full-process intelligent clinical solutions - "diagnosis - treatment - recovery".

MSCI will shift its index tracking from (JD.US) and NetEase (NTES.US) to their H shares JD-SW (09618.HK) and NTES-S (09999.HK), effective 2 December, Bloomberg reported. The related change may prompt the liquidity of the related shares to float to Hong Kong market from the U.S..  In May, MSCI had changed its index tracking on the U.S. stock of Alibaba (BABA.US) to its H shares BABA-SW (09988.HK

HKEX (00388.HK) is probing RUSAL (00486.HK)'s demerger plan of its high-carbon assets into a Moscow-listed entity, Financial Times cited sources.  The investigation is led by a complaint raised by hedge fund Odey Asset Management, which stated worry that RUSAL may propose privatization to absorb minority interests, once the spin-off is done.  HKEX declined to comment on the matter, whilst RUSAL said it was unaware of the related probe.

Pre Market News

BYD COMPANY (01211.HK) (002594.SZ) announced that, based on production operation and business development needs, the Board decided to inject funds worth US$1.7 billion (or an equivalent amount in RMB) in BYD Automobile Industry, a wholly-owned subsidiary of the Company engaging in R&D of vehicles, EVs and components, auto moulds and parts, as well as auto electronic equipment. Upon capital injection, the Company's shareholding in BYD Automobile Industry will boost from 94.1317% to 96.7866%.

BILIBILI-SW (09626.HK) acquired a 65.5% stake in licensed payment institution -- Zhejiang Yongyi Electronic Payment at roughly RMB118 million, according to sources from Paybaike's WeChat public account. Following, BILIBILI-SW has become a controlling shareholder of Yoyipay and officially obtained a payment license.

After EVERGRANDE (03333.HK) had purportedly transferred its residential project "The Vertex" to the project partner shareholder VMS, data showed that VMS' takeover of the project was backed by a loan granted by CTFE, a private company under NWD Founder Cheng Yu-tung's family, Ming Pao reported.  Although the actual loan amount remained veiled, sources said the market cap of the residential part of "The Vertex" approximated $1.7 billion for the remaining about 190 unsold units, based on the $8.9 million average price of units sold. Together with shopping malls and car parks, the market cap of VMS' takeover was estimated to be about $2.4 billion.

HSBC HOLDINGS (00005.HK) announced that it repurchased 4.4393 million shares of the company in the London market last Friday (19th), at a price ranging between GBP4.2875 and GBP4.4045, with a volume weighted average price of GBP4.3167, involving GBP19.1633 million.

The Centre for Health Protection (CHP) of the Department of Health last Saturday (November 20) said that according to the latest epidemiological information concerning three imported cases involving local aircrew of CATHAY PAC AIR (00293.HK) (cases 12376, 12378 and 12387), the CHP considered that the compulsory quarantine requirement for 111 aircrew members currently under compulsory quarantine in relation to the same hotel the three cases had stayed in Frankfurt, Germany could be lifted.  In CHP's earlier investigations, the three patients claimed that they had not left their hotel rooms during their stay in Frankfurt, implying that the hotel was the only possible common source of their infection. The CHP has received an investigation report regarding the three cases from Cathay Pacific on November 18 evening. Based on the findings of the investigation report by Cathay Pacific, the CHP followed up with the three cases for their itinerary during their layover in Frankfurt. They subsequently admitted that they had left the hotel rooms and visited places in the vicinity of the hotel multiple times and had met with each other or friend outside the hotel.

The Mainland epidemic prevention and control expert delegation arrived in Hong Kong last Saturday (20th) for a four-day visit to study about the city's initiatives related to anti-epidemic work. The Mainland expert delegation is organised by the Hong Kong and Macao Affairs Office of the State Council (HKMAO) and the National Health Commission. Members include epidemic prevention and control experts from the National Health Commission, the Guangdong Province, Shenzhen and Zhuhai. The HKMAO and the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region are also represented.

Risks emerging in the Chinese real estate market are overall controllable at the moment, with an intact trendline of healthy development market-wide, mentioned the People's Bank of China in its 3Q21 China monetary policy implementation report.  As for the next step, China shall adhere to the position that "houses are built for inhabitation, not for speculation", and firmly abstain from using real estates as near-term economic stimulus. The country will have to maintain stable land prices, home prices and expectations as well, the central bank added.

Huawei officially announced the launch of second-hand phone business in a bid to boost the reuse of electronic goods, where each device will be officially accredited after more than 120 special examinations. These used phones will be equipped with 100% original parts, new batteries and the new HarmonyOS 2 operating system, together with one-year warranty.

China's Ministry of Industry and Information Technology supports the intranet reform and creation among companies using 5G, other new network technologies and advanced appropriate technologies, said MIIT Minister Xiao Yaqing at the China 5G+ Industrial Internet Conference. Equally, corporations are underpinned to migrating their equipment up to the cloud, thus pushing forward Industry of Internet platforms' access to enterprises, industrial parks and industrial clusters.  Meanwhile, MIIT shall speed up 5G base station building and sizeable sector VPN development with stronger planning, strategy, coordination, layout and synergy. In addition, the country has to expedite the formulation of basic common criteria like industrial data exchange, while exploring the construction of data trading platforms.

CHINA MOBILE (00941.HK) held a sub-forum under the theme "5G Mine, Digging the Future" on the sidelines of the China 5G+ Industrial Internet Conference in Wuhan, reported Securities Times. Accordingly, the telecoms operator issued the 5G Underground Mobile Communication Network (5g DMN) White Paper in collaboration with Huawei Technologies Co., Ltd., China National Coal Association, and China University of Mining and Technology-Beijing.

According to online rumor, BYD COMPANY (01211.HK) has kicked off the pre-sale of its "Song Pro DMi", priced between RMB119,800-146,800. However, the official WeChat account of BYD network reporting center issued a statement to clarify that such rumor was false upon verification.  In reality, BYD had showcased the 2022's "Song Pro DM-i" and "Yuan PLUS" at Guangzhou Auto Show, but had only announced the relevant pre-sale dates, not the prices.

GREEN ECONOMY (01315.HK)  is expected to record a net profit of approximately HK$39 million for the six months period ended 30 September 2021, compared to a net profit of HK$1.2 million for the six months period ended 30 September 2020. Such increase in profit was mainly attributable to the increase in gross profit of HK$33.9 million and the net decrease in expenses of HK$12.1 million.

BILIBILI-SW (09626.HK) announced the pricing of US$1.4 billion in aggregate principal amount of convertible senior notes due 2026. The initial conversion rate is 10.6419 ADSs per US$1,000 principal amount of Notes (which is equivalent to approximately US$93.97 per ADS and represents a premium of approximately 40% above the closing price on November 18).  Application has been made for the resumption of trading in the Company's shares with effect from November 22.

JUNSHI BIO (01877.HK) announced that, the Company has received the Clinical Trial Approval issued by the National Medical Products Administration. The investigational new drug application for the JS026 injection has been approved. JS026 injection is a recombinant fully human monoclonal antibody, which is mainly used to prevent and treat the COVID-19.

IDG ENERGY INV (00650.HK) is expected to record a net loss of approximately HK$200 million for the six months ended 30 September 2021, against a loss of HK$25.6 million in the same period of 2020.SINO-OCEAN GP (03377.HK) announced that the Company subscribed 30% of the share capital of Sino-Ocean Logistics at an aggregate consideration of RMB780 million.

NEW ORIENTAL-S (09901.HK) announced that the Company further repurchased the 2.125% Bonds due 2025 in an aggregate principal amount of US$75.5 million, representing approximately 25.2% of the initial principal amount of the Bonds.

COASTAL GL (01124.HK) is expected to record a loss for the six months ended 30 September 2021 of not more than HK$470 million as compared to a loss of HK$65 million for the six months ended 30 September 2020.

BEIJING ENT (00392.HK) announced the Company entered into a term loan facility agreement with a bank for a term loan facility in the amount of HK$4.2 billion. The Loan Facility is for a term of 60 months. The Company shall apply all amounts towards refinancing the existing indebtedness of the Company.

EVERG VEHICLE (00708.HK) announced the top-up placing of 900 million shares. The new shares involve 8.3% of the enlarged share capital. The placing price of HK$3 represents a discount of 15.01% to the closing price on the last trading day.  The net proceeds are expected to be HK$2.646 billion.

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