Oct 26 HK WRAP Evergrande founder asked to repay from personal wealth. Offshore debt restructuring?


26 Oct

AFTER MARKET NEWS
Bberg Headlines 
NDRC calls on firms to optimise foreign debt structures and asks some firms to prepare for off-shore bond repayments
Evergrande founder urged to pay debt from personal wealth
China’s National Development and Reform Commission (NDRC) announced last week that it is seeking public feedback on its decision to include bitcoin mining on its list of “phased-out” industries, with some claiming that it comes as a reaction to the cryptocurrency’s sky-rocketing price and the US’s new-found dominance in the space.


This and previous notes can be found at  Substack ( Asian Market Sense )
Check out ERI-C.com  for your research needsHSI -94pts (-0.4%) 26,038 HSCEI -63pts (-0.7%) 9,259 T/O HK$113.98bn (+2.5% DoD)  

HK/CHINA Connect Flows
Shanghai
Northbound Rmb 48,924m Sell 25,184m vs 23,741m Buy
Southbound HK$ 12,235m Sell 7,086m vs 5,149m Buy
Shenzhen
Northbound Rmb 61,511m Sell 29,612m vs 31,900m Buy
Southbound HK$ 11,281m Sell 5,692m vs 5,590m Buy

Europe
Market open higher and working higher after strong earnings from UBS. Earnings also from Novartis, Thales, Reckitt Benckiser and Covestro. Still concerns over inflation (still talk of stagnation) and covid. Travel & Leisure leading, Energy weak.
Logitech reported an increase in second-quarter sales on the back of surging demand from home workers.
Carrefour is set to launch a new rapid grocery delivery service alongside Uber in Paris, the two companies announced Tuesday.
Data due
UK 
CDI DistributiveTrades
US Futures
Opened  Dow +10pts, S&P +0.1% and NDX +0.15% but rallied after the strong UBS numbers and other European earnings now Dow +91pts S&P and NDX +VE
AHEAD Data Redbook, Case-Shiller Home Prices, House Price Index, New Home Sales, Consumer Confidence, Richmond Fed Manufacturing Index, API Crude Oil Stocks change.
Earnings Alphabet & Microsoft before the open. Visa, Advanced Micro Devices, Texas Instruments, Twitter, Chubb, 3M, General Electric, Robinhood, Eli Lilly, UPS, Novartis, JetBlue, Lockheed Martin, Raytheon, Archer Daniels Midland, Sherwin-Williams, Invesco, Hasbro, Boston Properties, Teradyne, Fortune Brands, Hawaiian Holdings, NCR, Boyd Gaming.

CHINA CSI 300 closed -16pts (-0.3%) @ 4,963
Currency strengthened on news that Janet Yellen and Liu He had held a conversation covering the economy, bilateral and global co-operation.
Fix was weaker. But PBoC added 190b yuan
CSI 300 opened flat but rallied to test 5,000 on the news of talks between Yellen and Liu He but then sold down to 4,960 before bouncing to trade around flat for the remainder of the morning session. PM opened higher but sold down to 4,960 and traded around there into the close. Chinese Property weak on news Modern Land (1107) suspended missed a bond repayment in addition to ongoing concerns about the lack of detail about the Property Tax extension. Beer in focus on news Tsingtao Brewery (600600) +10% to raise prices +VE cross read to the sector; but reflects inflation.

Shanghai Comp -12pts (-0.3%) @ 3,598 T/O US$66,969m (+3% DoD)
Shenzhen Comp -44pts (-0.3%) @ 14,553 T/O US$95,745m (+6.4% DoD)
ChiNext Comp -10pts (-0.3%) @ 3,525

CHINA DATA
China's National Health Commission reported 43 confirmed cases of COVID-19 yesterday
(25th), with 29 of them being local infections (16 recorded in Inner Mongolia).

HONG KONG 
Pre market opened @ 26,234 +103pts vs +29pts ADR’s with weakness in Baba (after Ali Health profit warning) but offset by BYD & Xpeng (on battery/Telsa news), Li Ning after SSS data and HSBC post earnings. Macau names +VE on news of easing some restrictions and Healthcare +VE as China sees a resurgence of covid cases. Tech weak as Guangdong issues new measure for handling public data.
Chinese developers weak on news of another default. Towngas -4% resumed trading after announcing fund raising via share and CB sale. Datang -12% after earnings disappoint.
Food operators weak as SAMR strengthens food safety regs; Haidilao -5% second day of selling (recently significantly shorted)

HK Earnings due 27 Oct include Budweiser (1876) CGN Power (1816) China Coal (1898) CRSC (3969) CMOC (3993) Longyuan (916)
CIMC (2039) CMOC (3993) Haitong Int'l (665) Hepalink (9989) HKEX (388) Pharmaron (3759) Ping An (2318) Rusal (486) SD Gold (1787) SH Petrochem( 338) Sinotrans (598)
China Earnings due 27 Oct CATL (300750) HLA (600398) Goodix (603160) Inovance (300124) Wens Foodstuff (300498) Gagadevice (603986) Hengli (600346) Baiyao (00538) Shekou Industrial (001979) Luxshare (002475) Suofeiya (002572) Centre Testing (300012)
Lock up Expiry this week: Wuxi Bio (2269) Oct 27
Shimao Svc (873) KWG Living (3913) Oct 30

HONG KONG DATA
Hong Kong reported 3 imported covid cases.
After Market
Balance of Trade Sept HK$-42.4bn vs -26.3bn Aug (F/cast was -27bn)
Exports Sept +16.5% YoY vs +25.9% Aug
Imports Sept +23.5% YoY vs +28.1% Aug


SHORT SELLING HSI Tuesday 20.2% vs 22.7% Monday
Top shorts 
Country Garden (2007) 42%, BoC HK (2388) 39%, Haidilao (6862) 39%, Hengan (1044) 39%, Hang Seng Bank (11) 38%, Baba (9988) 38%, Petrochina (857) 30%, AAC Tech (2018) 30%, Wharf REIC (1997) 28%, Ping An (2318) 28%, CM Bank (3968) 26%, Geely (175) 25%,

AFTER MARKET NEWS
Bberg Headlines
NDRC calls on firms to optimise foreign debt structures and asks some firms to prepare for off-shore bond repayments
Evergrande founder urged to pay debt from personal wealth
China’s National Development and Reform Commission (NDRC) announced last week that it is seeking public feedback on its decision to include bitcoin mining on its list of “phased-out” industries, with some claiming that it comes as a reaction to the cryptocurrency’s sky-rocketing price and the US’s new-found dominance in the space.


CIMC VEHICLES (01839.HK) announced that, in accordance with China Accounting Standards for Business Enterprises, for the first three quarters ended 31 September 2021, the net profit of the company amounted to RMB786 million, down 9.26% YoY. EPS was RMB43 fen.
The revenue for the period rose 20% YoY to RMB22.563 billion.

Macau's Financial Services Bureau announced that as of September 2021, the city's gaming tax revenue burgeoned 16.33% yearly to MOP27.234 billion.

WH GROUP (00288.HK) announced that net profit, before biological fair value adjustments, decreased by 11.8% yearly to US$785 million.
EPS equaled US5.39 cents. Revenue, before biological fair value adjustments, added 6.9% yearly to US$20.064 billion.

Ministry of Commerce (MOC), Cyberspace Administration of China (CAC), and National Development and Reform Commission (NDRC) prepared, issued and distributed a notice on the 14th Five-Year Plan for E-Commerce Development to provincial-level divisions, asking them to support more digital tech R&D inputs by e-commerce enterprises. Equally, they should support the financing and listing of e-commerce tech service firms. The departments are also required to strictly rectify online curriculum-based tutoring targeting primary and secondary students, and fully standardize off-campus online training.L'OCCITANE (00973.HK) announced that the Group’s sales amounted to EUR725 million for the interim period ended 30 September 2021, representing a growth of 18.6% at constant rates, or 17.6% at reported rates.

VINDA INT'L (03331.HK) announced that YU Yi Fang, the Vice Chairman and an Executive Director of the Company, that yesterday (25 October), YU made on-market purchases on the Stock Exchange of an aggregate of 100,000 shares of the Company at an average price of HK$21.075 per Share. After the purchases, YU Yi Fang is interested in an aggregate of 550,000 Shares, representing approximately 0.05% of the total issued share capital of the Company.XINYI GLASS (00868.HK) announced that Non-Executive Director - LI Ching Wai, and substantial shareholder – LEE Sing Din, have purchased a total of 2.177 million shares of the Group from 21 October to 22 October. The share purchases have reflected the management’s great confidence in the prospect of the Group’s development.Regional Markets
Australia
Market tested higher in opening trades but resistance at 7,470 which it tested a couple of times in the morning but eased back around midday and then trended lower to flat and traded sideways to close +2pts (unch) @ 7,443. Crown Casino +8.8% despite being deemed not suitable to hold Melbourne Licence but the commission didn’t remove the licence but it is to be overseeen whilst reforms take place +VE for the sector. Tech also strong. Miners eased as Oil and Iron Ore prices eased. Dicker Data +14.2% after good earnings
Japan
Nikkei opened higher reversing Monday’s weakness and slowly worked higher in the AM session with resistance at 29,130. PM opened higher and worked higher to test 29,160 before dipping at the end to close +506pts (+1.8%) @ 29,106
Topix Opened higher resistance at 2,023 in the AM. PM trading sideways around 2,020 level but drifted lower at the end to close +23pts (+1.2%) @ 2,018.
Yen weakened during trading slight +VE for exporters but -VE Utilities.
Leaders Shipping (KKK +5.4% after Nikkei preview), Iron/Steel, Info/Tech, Auto and Rubber.
Laggards Banks, Airlines, Warehouses Precise Inst.
Square Enix +5.3% on +VE review of Marvel’s Guardians of Galaxy game?
T/O remains light but less concern about the election with the LDP expected to win and implement economic stimulus.
Earnings in focus and Panasonic +5.8% on new battery and the Tesla news.
Data
PPI Services Sept +0.9% YoY vs 1% Aug
S Korea 
Foreigners initially selling futures after poor GDP data but added cash; rotating into Pharma, Tech (Hynix +2% as Q3 OP beats), Service and selling Chemical and Transport Equip.
Local Instits buying Tech and Service. Retail selling for a fourth day.
But overall T/O remains light.
Battery plays still +VE after Panasonic +5.6% on new battery and Tesla news.
Tomorrow Samsung results in focus.
Kospi opened higher but initially sold down to 3,030 after weaker than expected GDP before rebounding and trading sideways around the 3,040 level until 1pm and then worked better to 3,050 but failed to break above and closed +29pts (+0.9%) @ 3,049.
Kosdaq opened higher but saw resistance around 1,010 and traded around that level for most of the session but ticked higher in the last 20 minutes to close +18pts (+1.8%) @ 1,012
Data pre market
GDP Growth Rate Adv Q3 +4% YoY vs 6% Q2 (F/cast was 4%)
GDP Growth Rate Adv Q3 +0.3% QoQ vs 0.8% Q2 (F/cast was 0.4%)
Taiwan 
Taiex opened higher following the +VE Retail sales and Industrial business and trended higher but saw resistance above 17,050 level and then traded around 17,050 level before dipping at the end to close +140pts (+0.9%) @ 17,034
T/O Tuesday US$10.94bn vs US$9.57bn Monday
CECC reported 4 new cases (all imported).


Movers
Active Heavyweights
BABA (09988.HK)  -4.700 (-2.701%)    Short selling $975.60M; Ratio 42.941%   closed at $169.5, down 2.6%
PING AN (02318.HK) -0.950 (-1.541%) Short selling $137.76M; Ratio 24.150% closed at $60.65, down 1.6%
MEITUAN (03690.HK) -3.800 (-1.325%) Short selling $437.38M; Ratio 23.109% closed at $283, down 1.3%
TENCENT (00700.HK) -2.000 (-0.396%) Short selling $379.23M; Ratio 11.524% closed at $502, down 0.6%
CCB (00939.HK) -0.020 (-0.369%) Short selling $52.22M; Ratio 9.362% closed at $5.39, down 0.6%
HKEX (00388.HK) -2.600 (-0.537%) Short selling $109.76M; Ratio 20.845% closed at $481.8, down 0.5%

HSI & HSCEI Constituents on Move:
ALI HEALTH (00241.HK)  -1.320 (-10.714%)    Short selling $79.13M; Ratio 23.437%   closed at $10.98, down 10.9%
SUNAC (01918.HK) -1.400 (-7.415%) Short selling $179.58M; Ratio 25.704% closed at $17.48, down 7.4%
CHINA RES LAND (01109.HK) -2.200 (-6.577%) Short selling $90.28M; Ratio 23.375% closed at $31.2, down 6.7%
ENN ENERGY (02688.HK) +7.400 (+6.141%) Short selling $10.48M; Ratio 3.243% closed at $127.8, up 6.1%
EVERG SERVICES (06666.HK) -0.280 (-6.195%) Short selling $4.15M; Ratio 3.170% closed at $4.25, down 6%
CHINA RES BEER (00291.HK) +3.350 (+5.664%) Short selling $57.81M; Ratio 11.101% closed at $62.45, up 5.6%
HAIDILAO (06862.HK) -1.300 (-4.896%) Short selling $225.98M; Ratio 38.996% closed at $25.25, down 4.9%
SANDS CHINA LTD (01928.HK) +0.820 (+4.773%) Short selling $35.16M; Ratio 19.209% closed at $17.96, up 4.5%
LI NING (02331.HK) +4.000 (+4.369%) Short selling $163.86M; Ratio 13.005% closed at $95.5, up 4.3%
COUNTRY GARDEN (02007.HK) -0.340 (-4.298%) Short selling $37.32M; Ratio 43.177% closed at $7.57, down 4.3%
HANSOH PHARMA (03692.HK) -0.720 (-3.711%) Short selling $2.13M; Ratio 6.565% closed at $18.58, down 4.2%
CHINA GAS HOLD (00384.HK) -0.840 (-4.361%) Short selling $6.50M; Ratio 1.335% closed at $18.46, down 4.2%
EVERGRANDE (03333.HK) -0.100 (-3.745%) Short selling $9.37M; Ratio 5.039% closed at $2.56, down 4.1%
BUD APAC (01876.HK) +0.640 (+3.445%) Short selling $31.16M; Ratio 13.875% closed at $19.28, up 3.8%
CHINA OVERSEAS (00688.HK) -0.600 (-3.293%) Short selling $52.27M; Ratio 19.371% closed at $17.6, down 3.4%
JD HEALTH (06618.HK) -2.600 (-3.396%) Short selling $13.20M; Ratio 8.554% closed at $74.1, down 3.2%
BYD COMPANY (01211.HK) +9.200 (+3.038%) Short selling $296.88M; Ratio 14.629% closed at $311.4, up 2.8%, hitting new high

HSMI & HSSI Constituents on Move:

REALORD GROUP (01196.HK) +0.460 (+3.549%) Short selling $1.11M; Ratio 1.987% closed at $13.38, up 3.2%, hitting new high

Market News
BABA-SW (09988.HK) announced that its Cainiao Network will set foot in Hong Kong, with the first batch of ten Cainiao Post stations and 60 Cainiao pick-up stations to provide Hong Kong consumers with more convenient last-mile logistics services.

TENCENT (00700.HK)'s Honor of Kings announced on its official Weibo account that the new Honor of Kings IP game will be unveiled during the Honor of Kings sixth anniversary festival 
scheduled to take place at 8 pm, 30 October.

Shanghai Guancha Information Technology Co., a connected company of Guancha News, included Shanghai Hode Information Technology Co., Ltd, a connected company of BILIBILI-SW (09626.HK), as a new shareholder, 
with its registered capital being expanded to approximately RMB123 million, reported Chinese media.

National Development and Reform Commission (NDRC) has recently published a notice, announcing to set up a market-based power purchase method through a stable power grid. 
With effect from January 2022, power companies will have to buy electricity via on-market centralized transactions (excluding matchmaking transactions), and participate in the market clearance as price receivers based on quotations of quantity but not prices.
For companies which adopt quotation transaction method, their tariffs will continue to be determined based on the weighted average price of centralized auction transactions during the month.On report that Shenzhen BYD Lithium Battery Company Limited will hike the price of its lithium battery by 20% from 1 November, BYD COMPANY (01211.HK) told China's media The Paper that they are not going to comment on the news.

Amazon (AMZN.US) Founder Jeff Bezos' private company Blue Origin announced that it is planning to launch a commercial space station to low Earth orbit after 2025.  Blue Origin and its major partner Sierra Space expressed that the commercial space station will have an area of 30,000 cubic feet, with a maximum capacity of ten people.

Frank Chan, Hong Kong's Secretary for Transport and Housing, expressed that Airport Authority Hong Kong (AAHK) is planning to set up "Hong Kong International Airport Logistic Park" in Dongguan, so as to develop a joint transport network with the Greater Bay Area (GBA). Export goods from China will first undergo procedures such as security check, packaging at the logistic park, and then be shipped to the restrictive area of the Hong Kong airport and ultimately to their overseas destinations, Chan added.  Worth noting that this is not new news but something they have been saying they will do for ages. But with zero-covid unlikely to happen soon.

ZTE (00763.HK) Ni Fei, Senior Vice President and President of Mobile Devices, expressed at the analyst conference that, the group's mobile devices will fully concentrate on the 5G segment, with the aim to further strengthen smartphone's core position in mobile internet. Ni predicted that ZTE's full-year mobile device shipment to reach over 100 million units this year, with 50% of them equipped with the self-developed chips, covering fields such as personal communication, home, internet of vehicles and industrial monitoring, etc..

KUAISHOU-W (01024.HK)'s Kuaishou International has recently launched an advertising platform -- Kwai for Business, in Brazil, which provides one-stop content and advertising solutions, reported foreign media. With the aid of the platform, companies and advertising agencies will be able to conduct marketing campaigns in a single interface and promote their products or services through in-feed and full-screen ads in the short videos, the report added.

Overnight HIBOR last posted at 0.03804%, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.06703%, marking a 1-month high.

Department of Health revealed that Sinovac had in mid-month applied to the Hong Kong government for a change in the suitable age of its vaccine to three years old or above. The Department said it is now reviewing and following up the information submitted by Sinovac.
The spokesman said the application will be submitted to the Advisory Panel on COVID-19 Vaccines for consideration and approval recommendations, and the Secretary for Food and Health will advise whether the recommendations should be approved.

Bank for International Settlements (BIS) announced that, in September, the real effective exchange rate index (REER) of RMB hiked 0.12% to 127.87, setting a new high in six months. The last month's figure was revised to be a decrease of 0.01%.  RMB's nominal effective exchange rate index (NEER), on the other hand, rose 0.33% in September, to 123.7, notching a new high in 68 months. The last month's figure was revised to be an increase of 0.20%.

AGILE GROUP (03383.HK) has recently denied at the investor conference about laying off senior management members, adding the rumor on the company to be sold to SOE is not true, Chinese media reported. Admitting that it has a US$250 million private debts guaranteed by it will be due on 24 November, AGILE GROUP said it has no other matured off-balance-sheet debts. Regarding the maturity of next year’s debt, the company’s management said it is in communication for a new syndicated loan.CLOVER BIO-B (02197.HK)'s international placing has recorded full subscription already, foreign media citing people with knowledge of the matter.

Hong Kong's Chief Executive Carrie Lam expressed that the Hong Kong government places great importance on resuming travel between China and Hong Kong as soon as possible, 
and that a quota system will be adopted at the early stages of travel resumption.
On another note, Lam said that the arrangement of quarantine exemption for targeted groups returning to Hong Kong from overseas and Mainland China will be cancelled.


Pre Market News
BYD has decided to heighten the above battery unit prices (
tax inclusive) by no less than 20% based on current Wh unit prices.

KOOLEARN (01797.HK) announced that, with a view to ensuring that the Group and its operations fully comply with all applicable legal and regulatory requirements, the Company has decided that the Group would cease operating after-school tutoring services for academic subjects included in China’s compulsory education system which is offered to Kindergarten to Year Nine (“K-9” or “Compulsory Education”) students. The Cessation is expected to take effect by the end of November.  
The Board expects that the Cessation will have a material adverse impact on the revenues for the financial year ending 31 May 2022 and subsequent periods; however, the Group’s profits would be significantly affected given that the K-12 business segment was loss making for the two financial years ended 31 May 2021.

MODERN LAND (01107.HK) announced that all outstanding

principal amount of the 12.85% Senior Notes Due 2021 and any accrued but unpaid interest thereon fell due yesterday (25 October). Owing to unexpected liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment, the real estate industry environment and the COVID-19 pandemic faced by the Company recently, the repayment arrangement of the principal amount of the Notes and the accrued but unpaid interest thereon was not met on that day. The Board and the management of the Company are assessing the financial condition and cash position and are closely monitoring the development of this matter. The Company is working with its legal counsel Sidley Austin and expects to engage independent financial advisors soon to assist it in formulating an overall plan taking into account the interests of onshore and offshore stakeholders.

Responding to the letter issued by the Asia Securities Industry and Financial Markets Association (ASIFMA) to the Financial Secretary, Paul Chan, which suggested that the "zero infection" policy of the Hong Kong government may undermine Hong Kong's competitiveness as a financial hub, a government spokesman responded 
that the government's strategy and policy on combating the COVID-19 pandemic have been based on the overall interests of the society, while taking into account the citizens' expectations and potential ramifications on the economy. Hong Kong government now regards travel resumption between China and Hong Kong as the top priority and will continue to strive for the goal of "zero infection" through implementing stringent and necessary pandemic measures, the spokesman added.

VINDA INT'L (03331.HK) announced that LI Chao Wang, the Chairman of the Company, through a corporation controlled by him, made purchases on the open market of an aggregate of 500,000 shares 
in the Company at an average price of HK$20.4992 per Share yesterday (25 October). Upon completion, LI Chao Wang, as beneficial owner and through interest of corporations controlled by him, is interested in a 21.96% stake in the Company.

Guangdong Administrative Service Data Management Bureau previously issued a set of public data management measures, with effect from 25 November, to further regulate the sharing, opening and utilization of public data, 
so as to unlock the value of public data and enhance the government's governance ability and the level of public services. As the first provincial government regulation on public data management in Guangdong, the measures introduced multiple innovative policy approaches. In particular, it clarified, for the first time, the subject of data transaction.

National Energy Administration (NEA) and ICBC (01398.HK) (601398.SH) inked a strategic alliance agreement. 
Over the coming five years, ICBC plans to provide implied financing of up to RMB3 trillion to the energy sector. Through the partnership, the two parties will further deepen cooperation between the government and the banking sector and jointly explore effective ways to aid green energy development and to attain the country's goals of carbon peak and neutrality.

Tesla China announced that Tesla's Shanghai R&D Innovative Center and Shanghai Gigafactory Data Center have both been completed 
and will commence operation in near-term. The R&D Innovative Center, in particular, is the first overseas R&D center of the U.S. EV maker, which specializes in vehicle development.

BYD COMPANY (01211.HK) announced that the Hong Kong Stock Exchange has confirmed on 22 October 2021 that the company may proceed with the proposed spin-off and separate listing of BYD Semiconductor Company Limited, 
a non-wholly owned subsidiary of the Company, on the ChiNext Board of the Shenzhen Stock Exchange.
The spin-off and listing is also subject to, among other things, approval from the Shenzhen Stock Exchange and performance of the offering registration procedures of the CSRC, the announcement added.

ALI HEALTH (00241.HK) issued a profit warning, announcing that the group expects to record a net loss of not more than RMB320 million for the six months ended September 30, 2021 
as compared with the net profit of approximately RMB279 million for the corresponding period in 2020.

GCL-POLY ENERGY (03800.HK) announced the interim consolidated results of the company for the six months ended 30 June 2021. 
The revenue amounted to RMB8.779 billion, up 22.3% YoY. Gross profit rocketed 97.5% to RMB3.599 billion. The net profit was RMB2.407 billion, compared to a loss of RMB1.996 billion for the corresponding period of the previous year. EPS was RMB9.9 fen. No interim dividend was declared.

GCL-POLY ENERGY (03800.HK) announced the annual result for the year ended 31 December 2020. 
The revenue amounted to RMB14.621 billion, down 24% YoY. Gross profit dropped 20.9% to RMB3.702 billion. The loss widened to RMB5.668 billion from a loss of RMB197 million for the previous year. LPS was RMB28.06 fen. No dividend was declared. Trading in the shares of the company was suspended from 9:00 a.m. on 1 April 2021 and will remain suspended until further notice, the announcement added.

CHINESE EST H (00127.HK) announced that, during the period from 22 October 2021 to 25 October 2021, the group disposed of the senior notes issued by KAISA GROUP (01638.HK) t
hrough a series of transactions in the over-the-counter market with an aggregate principal amount of US$55 million for an aggregate consideration of US$17.08 million.
It is expected that the group will record a realised loss of approximately HK$288 million in profit or loss for the year ending 31 December 2021 as a result of the disposal, the announcement added.

AGILE GROUP (03383.HK) announced that it has noted recent media report relating to communication between the Company and various investors. 
Such communication is part of the Company’s regular communication with its investors, and there is a recent increase in frequency of such communications in light of recent developments in the real estate sector in the PRC. At such communication, the Company has reassured its investors that it has sufficient funds to repay its debts as they fall due.

SIHUAN PHARM (00460.HK) announced that, on the previous trading day (25th), it has repurchased a total of 8.1 million shares of the company on the market, at an average price of $1.765 per share, involving a total of approximately $14.3 million.

ZTE (00763.HK) announced the results for the first three quarters ended September 2021. In accordance with PRC Accounting Standards for Business Enterprises, net profit soared 115.8% YoY to RMB5.853 billion. EPS was RMB1.26. Operating revenue gained 13.1% to RMB83.825 billion.

CMSC (06099.HK) announced that in accordance with the China Accounting Standards, net profit grew 16.9% YoY to RMB8.501 billion for the first three quarters ended September 30, 2021. EPS equaled 91 fen.

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