March 22 HK/CHINA WRAP HSI -106pts with T/O -35% DoD CHINA closed Higher


22 Mar

HSI -106pts (-0.4%) 28,885 HSCEI +23pts (+0.2%) 11,307 T/O HK$134.23bn (-34.9% DoD) 

EUROPE Markets opened lower with concerns over Turkey after President Erdogan replaced the central bank chief days after a sharp interest rate hike. But reworking higher.  Travel & Leisure names like IAG and Tui weak as Europe lags in the vaccine roll-out as a third covid wave strikesVolkswagen and Porsche climbed after Deutsche Bank significantly raised its price target for the German automakers’ stocks.
Earnings from Kingfisher, Julius Baer and Lonza.
Data out
Eurozone Current Account Jan Euro 5.8b vs 51.9b Dec (F/cast was 32b)

US FuturesOpened Dow -78pts, S&P -0.3% and NDX -0.4% and have been choppy, currently Dow -65pts, S&P flat and NDX +0.8%
Data Due
Chicago Fed National Activity Index, Existing Home Sales
Fed Speakers Powell, Quarles and Bowman.
Pre market movers
AstraZeneca (AZN) a U.S. study showed its Covid-19 vaccine had 79% efficacy in preventing symptomatic illness, 100% effectiveness against critical disease and hospitalization, and did not pose a higher risk of blood clots. AstraZeneca shares gained 2.2% in premarket trading.
Blackstone (BX) – Blackstone proposed a $6.2 billion buyout of Australian casino operator Crown Resorts. The stock rose above the offer price in Australian trading, signaling investor bets that a higher bid could come from another suitor.
Kansas City Southern (KSU) – The railroad operator agreed to be bought by Canadian Pacific Railway (CP) in a $25 billion cash-and-stock deal. The transaction is worth $275 per share, compared to Kansas City Southern’s Friday closing price of $224.16. Kansas City Southern surged 17.8% in premarket action, while Canadian Pacific slid 2.8%.
Stellantis (STLA) – The automaker said a global semiconductor shortage would impact production of its popular pickup trucks, in a delay the parent of Chrysler and Jeep said could last “a number of weeks.”
Royal Caribbean (RCL) – Royal Caribbean will restart some Caribbean cruises in June, following a year-long suspension amid the Covid-19 pandemic. Crews will be fully vaccinated, and adult guests will be required to be vaccinated as well. Children under 18 will need to show proof of a negative Covid test.
Tesla (TSLA) – Tesla shares will hit $3,000 in 2025, according to a projection by ARK Invest founder Cathie Wood. If that prediction pans out, Tesla would be worth roughly $3.6 trillion. The stock jumped 3.6% in premarket trading.
Airbnb (ABNB) – Airbnb shares rose 1.5% in premarket trading as more Americans receive Covid-19 vaccines and resume their travel plans.
SunRun (RUN) – The solar power company was rated “positive” in new coverage at Susquehanna Financial, with the firm saying the largest U.S. installer of residential solar power systems would benefit from anticipated strong growth in that market. Shares rose 1.9% in premarket trading.
JetBlue (JBLU) – The airline is planning to raise $650 million through the sale of convertible senior notes due in 2026. The stock fell 2% in premarket action.
DraftKings (DKNG) – The sports betting company’s stock rose 2.1% in the premarket after Loop Capital repeated its call for DraftKings as “top pick,” noting that New York is poised to legalize online gambling and that the state’s market will be less competitive for DraftKings than New Jersey.


CHINA 
CSI 300 closed +50pts (+1%) @ 5,057
On the open Loan Prime rates were announced unchanged.CSI 300 opened flat and rallied to 5,071 before selling back down to the opening level and then working higher into lunch. PM traded sideways with a small rally into the close. Team China looks to be in play to try and reassure investors that US/China relations will not be a -VE impact on the market. Helped by the PBOC vowing liquidity support for the economy and the top securities regulator suggested domestic assets should remain attractive to investors. Northbound funds bought more than 7b yuan in net today but lighter than seen in recent weeks. Bond default news and concerns over property in lower tier cities remain worrying issues.
Carbon neutral names, electricity, environmental protection, photovoltaic, tourism, building materials, brokerage were top gainers. Brewers were the laggards.
Shanghai Comp +39pts (+1.1%) @ 3,443
Shenzhen Comp +155pts (+1.1%) @ 13,761
ChiNext +37pts (+1.3%) @ 2,843

CHINA DATA 
Loan Prime Rates unchanged for an eleventh month1 Year 3.85% 5 Year 4.65%
HSI 
Pre market opened @ 28,80, -190pts vs +177pts ADR’s
Market initially rallied to 29,100 in the first 20 minutes but then reversed back to 28,860 level before working slightly better into lunch. PM saw slight rally but only to flat before trending lower into the close but just failing to regain 28,900 at the close and ticking lower in the closing auction. Significantly lighter trading volumes a concern. Investors facing a number of concerns US/China relations, rising bond yields/inflation. Earnings also in focus with a large number due this week including the Petrochem names and some Ecommerce ones too. Upcoming IPOs also a factor.
HONG KONG DATA 
After market 
Current Account Q4 HK$30.9b vs 96.5b Q3 (F/cast was HK$25b)

Inflation Rate Feb +0.3% YoY vs +1.9% Jan  (F/cast was +0.2%)On inflation a Government spokesman said that taking the first two months of 2021 together to neutralise the distortions caused by the timing of the Lunar New Year, underlying consumer prices registered a small year-on-year decline of 0.3%, mainly reflecting the narrowed increase in food prices and the enlarged fall in private housing rentals. Meanwhile, price pressures on other major CPI components remained very mild.

Hong Kong recorded a preliminary Q4 Balance of Payments (BoP) surplus of $233.5 billion (as a ratio of 32.7% to GDP) vs a surplus of $19.3 billion (as a ratio of 2.8% to GDP) Q3 of 2020. Reserve assets correspondingly increased by the same amount ($233.5 billion) in the fourth quarter of 2020.
For 2020 as a whole, there was a BoP surplus of $263.0 billion (as a ratio of 9.7% to GDP), as against a deficit of $8.9 billion (as a ratio of 0.3% to GDP) in 2019.

The Centre for Health Protection reported 18 new covid cases (vs 8 Sunday) 2 local of unknown sources and 13 were imported

SHORT SELLING Monday 11.7% vs 17.7% Friday
Top Shorts  Bud Apac (1876) 64%, Hengan (1044) 42%, ICBC (1398) 31%, HSBC (5) 28%, Ping An (2318) 27%, China Life (2628) 27%, Bank Of China (3988) 26%, MTRC (66) 26%, CCB (939) 26%, Henderson Land (12) 25%

IPO
BIDU-SW (09888.HK), to be listed Tuesday, opened at $250 in gray market, down 0.8% against the listing price of $252.  It  closed at $254.8 up 1.1% or $2.8 against the listing price of $252, PhillipMart data showed. Excluding handling fee, the book gain is $140 per board lot size of 50 shares.

EARNINGs due Tuesday include Henderson Land (12), Henderson Investment (97), K Wah (173) , Kunlun (135),  Geely (175), ShuiOn Land (272), China Foods (506), Yue Yuen (551), Zhejiang Expressway Co (576), Asia Cement (743), China Literature (772), Convenience Retail Asia (831), Huaneng Power (902),  GoodBaby (1086),  China Modern Dairy (1117), Milan Station (1150), Sino Biopharmaceutical (1177), PICC (1339), 361 Degrees (1361), Guotai Junan International (1788), Fosun Tourism Group (1992), Lifestyle China Group (2136), Wuxi Biologics (2269), PICC Property and Casualty (2328) , Chalco (2600), Solomon Systech (2878), Sino-Ocean Group (3377), Agile (3383), Hengdeli (3389), Pou Sheng (3813), Kingsoft (3888), ZhongAn Online P & C Insurance Co (6060).

AFTER MARKET NEWS 
BILIBILI-SW (09626.HK) (BILI.US)’s IPO registered approximately $42.9 billion margin as at around 6:00 pm Monday according to brokers. Based on the public fundraising amount of $741 million, the IPO was over-subscribed by about 56.9 times.
Rumoured that a fresh round of dismissal in Hong Kong, HSBC is slashing 50-60% of the workforce, or at least about 100 workers, from the EIR (External Investigative Reporting) department, Apple Daily reported. A half of the positions in the compliance unit will be moved to Guangzhou for cost saving.
CG SERVICES (06098.HK) announced annual result ended December 2020. The net profit amounted to RMB2.686 billion, up 60.8% yearly.  EPS was 97.62 fen. A final dividend of 21.87 fen was declared against a dividend of 15.14 fen in the same period of the previous year. Li Changjiang, at the results conference, laid out the company's missions in its five year (2021-2025) plan. The company will foster all sorts of its businesses concurrently, aiming to manifest $100 billion revenue breakthroughs in property services, value-added services and such other areas.   The management also hoped the revenue and profit to grow by not less than 50% this year.
CHINA UNICOM (00762.HK) announced that Mobile Subscribers amounted to 306 million in February 2021, representing a monthly net loss of 20,000. During the month, 5G Subscribers reached 84.543 million, representing a net increase of 6.589 million.
CHINA TELECOM (00728.HK) announced Key Performance Indicators for February 2021. Mobile Subscribers amounted to 352.8 million, representing a net increase of 250,000.  During the month, 5G Package Subscribers reached 103 million, representing a net increase of 6.2 million, down from January's 10.67 million.
ZTE (00763.HK) is set to suffer controllable business impacts from the U.S. FCC ban, which mainly involves the communication network equipment replacement in the local market, opined Chairman Li Zixue, after the U.S. communication watchdog had announced earlier the inclusion of Huawei and ZTE into her sanction list that jeopardizes her national security. Amid the era of 5G buildout stage last and this year, China's domestic development will go on laying grounds for the large-scale 5G buildout, said Li.
ENN ENERGY (02688.HK) announced annual results ended December 2020. Net profit amounted to RMB6.278 billion, up 10.7% yearly. EPS equaled  RMB5.59. Final. DPS was HK$2.1, together with special DPS of HK$0.32.
TINGYI (00322.HK) announced annual result ended December 2020. The net profit amounted to RMB4.062 billion, up 22% yearly. EPS was 72.23 fen.  A total DPS of US11.08 cents was declared, including a final DPS of US5.54 cents and a special DPS of US5.54 cents.
BILIBILI-SW (09626.HK) has closed its international placing at 17:00 today, a day ahead of schedule, said market rumors.
Under the most bullish scenario, Hong Kong Tourism Board (HKTB) projected roughly 9.6 million travelers to visit Hong Kong in 2021, a year hampered by the pandemic. The forecast was 1.6 times above the 2020 figure, yet representing only 15% of the 2018 peak level.  Given global Covid outbreaks, HKTB shrugged off a full cross-border travel resumption between Hong Kong and other regions in the next 3-6 months.
MARKET COMMENT 
*CHINA BANKS STRONG  PBOC Governor Yi Gang said China still has room to pump liquidity into the economy while keeping its leverage ratio stable. He added that monetary policy is currently within normal range with ample tools to moderate interest rates.  But there are concerns still about bond defaults and the  ability for Beijing to bail companies out.CMB (3968 HK+4.6%) as earnings beat, 2020 net profit +4.8% to 97.34b yuan.ICBC (1398 HK +1.8%) CCB (939 HK +2.3%) ABC (1288 HK +3.8%).
*BROKERS STRONG after regulators ease requirements on major shareholders in such companies, a move that will attract more capital to the industry. HTSC (6886 HK +2.3%), HAITONG (6837 HK +1.8%) CITIC SEC (6030 HK +3%) GF SEC (1776 HK +2.4%).
*E-COMMERCE WEAK concerns about the impact of rising yields and ahead of earnings from MEITUAN (3690 HK-3.8%),  TENCENT (700 HK+0.6%) and WEIMOB (2013 HK-3%) this week. ALIBABA (9988 HK-1.1%),  XD INC (2400 HK -8.3%). NTES (9999 HK +4.4%) after its game "Absolute Deduction" is among a new batch of domestic game version numbers that have been released and approved by the State Press & Publication Administration.
*TECH & COMPONENTS FIRM as China pushes for self-sufficiency in high tech components. XIAOMI (1810 HK +1.9%) but was +4.2% intraday after announcing a new product launch scheduled for March 29. It is reportedly seeking entry into India electric scooter and cycle market, and has tested some electric scooters on Indian roads already. HUA HONG (1347 HK +2.4%) BYDE (285 HK +4.3%) TRULY (732 HK +2.8%). SUNNY OPTICAL (2382 HK -5%) after last week's rally as earnings beat.
*ALTERNATIVE ENERGY FIRM in anticipation of more environmental-friendly policies to be rolled out, as China works toward its carbon-neutral target. GOLDWIND (2208 HK +6.4%) DATANG RENEW (1798 HK +6.6%) LONGYUAN PWR (916 HK +8.6%).  Report out last week from the Global Wind Energy Council, showed that China was the world leader in adding wind power last year but that was ahead of subsidies being removed but the report still expected China to continue to add wind power capacity this year via policy measures.
*CHINA  PROPERTY FIRM mainly after following positive earnings.  But there are concerns about values in China’s lower tiered cities.
KAISA PROSPERITY (2168 HK+3.2%) reported 2020 net profit at 222m yuan, +35.4% YoY.
A-LIVING (3319 HK+7.9%) reported net profit +42.5% YoY to 1.75b yuan. CH OVERSEAS GRAND OCEAN (81 HK) net profit +50% YoY to 42.09b yuan.
BUT YUZHOU PROP (1628 HK -5%) expects net profit in 2020 to drop significantly due to the pandemic and tightened regulation in the property sector.
*HK PROPERTY FIRM as the latest Covid outbreak seems to be contained, and inoculation rates continue to rise in the city.  But I would be cautious as Beijing has instructed the HK Govt to resolve the housing issues.  Beijing seems to believe that was the reason behind the protests. SWIRE PROP (1972 HK unch) put 30 flats in the first price list for its Eight Star Street in Wan Chai at an average price of HK$36,936 psf after discounts, the most expensive first price list among new projects on HK Island.HENDERSON LD (12 HK +1.9%) reports Tuesday.  KERRY PROP (683 HK +3.2%) HYSAN (14 HK +2.2%).
*PHARMA MAKERS MIXED CANSINO BIO (6185 HK -2.5%) says the booster shot given to phase I trial participants in China six months after their first shothas increased Covid-19 antibody levels 10 times.
FOSUN PHARM (2196 HK -2%) WUXI APPTEC (2359 HK -3.6%).
Sri Lanka approves SINOPHARM (1099 HK +3.3%) vaccine for emergency use. It also announced annual result ended December 2020. The revenue rose 7.3% year on year to RMB456.415 billion. The net profit amounted to RMB7.187 billion, up 14.9%. EPS was RMB2.31. A final dividend of RMB0.69 was declared against a dividend of RMB0.6 in the corresponding period of the previous year.
KINTOR PHARMA (9939 HK+21%) following broker's bullish report.

Regional Markets
AUSTRALIA
Opened flat and initially sold down to 6,688 in the first 15 minutes but rebounded to 6,720 level and worked higher to test 6,740 but saw resistance and sold back down to flat before rallying back to around 6,755 and then traded sideways for most of the session with a small surge to 6,763 30 minutes before the close but then trended lower to close +44pts (+0.7%) @ 6,753
JAPAN 
Nikkei opened lower following the mixed performance in the US on Friday. It trended lower until late morning hitting a low of 29,107 before a small bounce into lunch. PM opened around the 29,200 level and traded sideways but saw small rally as the data was released but then drifted lower to close -618pts (-2.1%) @ 29,174
Topix traded in a similar fashion to close -22pts (-1.1%) @ 1,990
Data out at 1pm
Coincident Index final Jan 90.3 vs 88.2 Dec (F/cast was 91.7)
Leading Economic Index final Jan 98.5 vs 97.7 Dec (F/cast was 99.1)
S KOREA  
Kosdaq opened slightly higher but initially sold down to 950 level which it tested a couple of times before working higher to 958 around midday and then trended lower with support at 954 and then climbed slightly higher to close +3pt (+0.3%) @ 955
Kospi opened flat traded down to 3,020 but the worked back to +5pts around midday. Then effectively traded sideways around flat for the rest of the session to close -4pts (-0.1%) @ 3,036.
TAIWAN 
Opened just in the red, sold down for the first 20 minutes but then rallied to 16,176 and then traded sideways around 16,150 until 12:20pm when it rallied to test 16,200 but failed to break out and traded sideways before pushing again this time to 16,236 before easing back to close +119pts (+0.7%) @ 16,189
Data after market
Unemployment Feb 3.73% vs 3.75% Jan (F/cast was 3.8%)
Export Orders Feb 48.5%YoY vs 49.3% Jan (F/cast is 46%)
Tuesday after market we get Industrial Production and Retail Sales
CONNECT FLOWS 
Shanghai 
Northbound RMB 45,643m Sell 21,618m : 24,024m Buy
Southbound HK$ 14,827m Sell 7,399m : 7,428m Buy
Shenzhen 
Northbound RMB 54,527m Sell 24,885m : 29,642m Buy
Southbound HK$ 16,443m Sell 8,016m : 8,428m Buy

Active Heavyweights
MEITUAN (03690.HK) -3.7%
HKEX (00388.HK) -2.3%
CCB (00939.HK) +2%
BABA (09988.HK) -1.4%
AIA (01299.HK) -1%
PING AN (02318.HK) -0.9%
TENCENT (00700.HK) +0.9%
HSI & HSCEI Constituents on Move:
SUNNY OPTICAL (02382.HK) -5%
NTES (09999.HK) +4.8%
CM BANK (03968.HK) +4.2%
BUD APAC (01876.HK) -3.9%
CHINA RES BEER (00291.HK) -3.7%
TECHTRONIC IND (00669.HK) -3.7%
CKH HOLDINGS (00001.HK) +3.6%
HENGAN INT'L (01044.HK) -3.4%
CHINA TOWER (00788.HK) -3.4%
ABC (01288.HK) +3.2%
BANKCOMM (03328.HK) +3.1%
ENN ENERGY (02688.HK) +2.8%, hitting new high
HSMI & HSSI Constituents on Move:HEC PHARM (01558.HK)  +11.9%
SANY INT'L (00631.HK) +11.9%
CGN NEW ENERGY (01811.HK) +11.1%
DATANG POWER (00991.HK) +8.1%, hitting new high
REALORD GROUP (01196.HK) +7.2%, hitting new high
SHANGRI-LA ASIA (00069.HK) +5.9%, hitting new high
CHINA RES POWER (00836.HK) +4.4%, hitting new high

MARKET HOURS NEWS
The coronavirus vaccine from AstraZeneca (AZN.US) and the University of Oxford was proven in a U.S. clinical trial to be 79% effective with no safety issue.
The HKTDC Export Index rose 2.8 pts QoQ to 39.0 in 1Q21, up for the 4th quarter but staying below 50 at the contraction territory, said HKTDC's Director of Research Nicholas Kwan. This indicated Hong Kong merchants' cautious optimism about the recent export outlook. Kwan projected the export sector confidence to revive fully as soon as next year. While Kwan did not see huge influence from the export and manufacturing sectors on the city's jobless rate, he suggested possible layoffs in other industries with heavier pressure.
According to CPA Australia's 2020-21 Asia-Pacific Small Business Survey, the business confidence of small Hong Kong companies slipped to a record low against the backdrop of rampant Covid spread and a rare economic downturn in 2020.  Only 16% of the 306 surveyed firms delivered growth last year, and only 21% expected a business increment this year, compared to the survey average of 61%. The bearish outlook was also reflected in their cautious stance towards recruitment. Only 12% of the respondents projected to increase staff this year, against the survey average of 36%.
Chinese Ministry of Industry and Information Technology, together with three other departments, jointly pinned down personal information requirements for general mobile apps, whereby app developers shall not deny users access to general functions due to their disagreement with the collection of unnecessary personal information.  The requirements are taking effect from May.
AIA (01299.HK) announced that AIA China has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) Sichuan Bureau to begin operations in Chengdu, Sichuan. This is AIA China’s entry into its first new province since the establishment of its life insurance subsidiary in Mainland China in 2020.

Lunchtime Results 
CH OVS G OCEANS (00081.HK) announced annual results ended December 2020. Net profit was RMB4.375 billion, up 31.4% yearly.  EPS
equaled 127.8 fen. Final DPS was HK27.5 cents, as compared with HK19.5 cents in the previous year.
CHINA RES BEER (00291.HK) announced annual results ended December 2020. Consolidated turnover declined 5.2% yearly to RMB31.448 billion. Net profit amounted to RMB2.094 billion, up 59.6%. EPS equaled RMB0.65. Final
DPS was 13.1 fen, as compared with 4.5 fen a year ago. Full-year DPS was 25.9 fen, up 57%. CEO Hou Xiaohai revealed at the results conference call that the catering and night's beer spending in 2M21 have retrieved to the 2019's level, whilst the overall beer spending have also picked up bit by bit, on the back of commendable epidemic control in China YTD. As the group launched bottle-free sales in a couple of regions last year, the overall ASP dropped 2.4% YoY. The CEO said selling prices should have a single-digit growth if not accounting the related impediment. With that style of sales basically wrapping up, the impact is expected to cease. Given product structure enhancement, sales of high-end products grew. The CEO forecast selling prices to demonstrate uptrend persistently.
A-LIVING (03319.HK) announced annual result ended December 2020. The net profit amounted to RMB1.754 billion, up 42.5% yearly.  EPS. was RMB1.32. A total dividend of RMB0.52 was declared, including a final dividend of RMB0.33 and a special dividend of RMB0.19, against a dividend of RMB0.45 in the corresponding period of the previous year.  It also announced that the Group entered into agreements to acquire 51% equity interest in Beijing Huifeng, 60% equity interest in Shaanxi Mingtang and 51% equity interest in Dalian Mingri’s urban environmental sanitation (UES) business at a total consideration of RMB724 million.  Besides, the Company entered into a non-legally binding framework agreement to acquire 51% equity interest in Anhui Yurun at a total consideration of RMB153 million.  The Group would also acquire an aggregate of 30% equity interest in ZH Sanitation through equity transfer and additional shares subscription, at a total consideration of RMB300 million.
KINGBOARD HLDG (00148.HK) announced annual results ended December 2020. Net profit amounted to HK$4.703 billion, up 52% yearly. EPS equaled HK$4.257. Final DPS was HK100 cents, together with special DPS of HK100 cents.
KB LAMINATES (01888.HK)  announced annual results ended December 2020. Net profit amounted to HK$2.803 billion, up 16.7% yearly. EPS equaled HK$0.906. Final DPS was HK35 cents, together with special DPS of HK15 cents.

XIAOMI-W (01810.HK) announced at Weibo that a new product launch press conference for Spring would be held at 19:30 next Monday (29 March).
CM BANK (03968.HK) announced the proposed introduction of the strategic investor JPMorgan Asset Management (Asia Pacific) Limited for cash injection to its wholly-owned subsidiary, CMB Wealth Management.   JPMorgan Asset Management will contribute around RMB2.667 billion.
Upon completion, JPMorgan Asset Management will hold a 10% stake in CMB Wealth Management.
The U.S. is exposed to a one-in-three possibility that inflation will accelerate in the years ahead, along with stagflation, and to the same chance of no inflation, former Treasury Secretary Lawrence Summers told Bloomberg. Summers warned that the country is suffering from the “least responsible” macroeconomic policy in four decades, which was fundamentally fueled by "intransigence" of the Democratic left and "intransigence and the completely irresponsible behavior" of the whole Republican Party.
STANCHART (02888.HK) announced that it had repurchased 2.0085 million shares at GBX483.6-497.6 each in London on 19 March.  The weighted average price paid was GBX491.5624 per share, involving GBP9.873 million.
PRE MARKET HOURS NEWS
CHINA MOBILE (00941.HK) announced that the number of mobile subscribers was 937 million in February 2021, representing a monthly net loss of 3.692 million (January: 1.057 million).  During the month, the number of 5G mobile subscribers was 173 million, representing a monthly net addition of 4.197 million (January: 3.968 million).
Hong Kong Monetary Authority (HKMA) is in talks with the People's Bank of China (PBOC) for details (e.g. participated investors and product types) on Southbound Trading of Bond Connect, with a target to be rolled out in the early second half of the year, as Eddie Yue, Chief Executive at the HKMA, told a radio programme.  As to Wealth Management Connect, Yue stated the regulatory bodies attach great importance to investor protection, predicting there will be a quota for the amount when the Connect is launched.
YUZHOU GROUP (01628.HK) PROFIT WARNING expecting that the consolidated net profit for the year ended 31 December 2020 to decrease significantly, as compared to that for the year ended 31 December 2019, and that the total dividend per share will not be lower than that for 2019 (being HK33 cents per share, exclusive of the special dividends).
ZIJIN MINING (02899.HK) announced annual results ended December 2020. Net profit amounted to RMB6.509 billion, up 51.9% yearly.  EPS equaled RMB0.25. A dividend of RMB1.2 per 10 shares was declared.
CANSINOBIO-B (06185.HK) announced that based on the interim results for phase III clinical trial of the Recombinant Novel Coronavirus Vaccine (Adenovirus Type 5 Vector) (the "Ad5-nCoV", trade name: Convidecia), Ad5-nCoV has been granted emergency use authorization by the Hungarian National Institute of Pharmacy and Nutrition (OGYEI).
SINOPEC SEG (02386.HK)announced annual result ended December 2020. The net profit amounted to RMB2.382 billion, up 9.1% yearly. EPS was RMB0.54. A final dividend of RMB0.187 per share was declared.
SINOPHARM (01099.HK) announced annual result ended December 2020. The revenue rose 7.3% year on year to RMB456.415 billion. The net profit amounted to RMB7.187  billion, up 14.9%. EPS was RMB2.31. A final dividend of RMB0.69 was declared against a dividend of RMB0.6 in the corresponding period of the previous year.
SINO-OCEAN SERV (06677.HK)  annual result ended December 2020. The net profit amounted to RMB258 million, up 24.8% yearly. EPS was RMB0.29. A final dividend of RMB0.055 was declared.
XIAOMI-W (01810.HK)'s Chairman Lei Jun foreshowed on Weibo "big news" for this morning. The group's handset unit told fans to be there or be square at 10am today. Rumor has it that XIAOMI-W will unveil new gadgets including the Mi 11 Pro phone.

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