Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. China
  4. Shanghai Stock Exchange
  5. Huatai Securities Co., Ltd.
  6. News
  7. Summary
    601688   CNE100000LQ8

HUATAI SECURITIES CO., LTD.

(601688)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China's Suning shares jump after restructuring eases debt concerns

07/06/2021 | 01:21am EDT

BEIJING, July 6 (Reuters) - Shares in China's Suning.com jumped by a maximum 10% on Tuesday after the loss-making online retailer announced a restructuring plan that will see a state-backed fund become a major shareholder, easing investors' liquidity concerns.

Suning.com's chairman and biggest shareholder, Zhang Jindong, along with several other major shareholders, will sell a combined 17% stake to a local government-led fund that counts Alibaba Group and Xiaomi as investors, according to an exchange filing.

The 8.8 billion yuan ($1.36 billion) deal, which the company said will leave it without a controlling shareholder, comes amid concerns over cash flow at Suning.com and its parent company, Suning Group.

Suning.com, which forecast a net loss of up to 3.2 billion yuan in the first half, needs to repay 15.8 billion worth of bonds this year.

The company's shares dropped to a decade low on June 15 when trading was halted pending announcement of a restructuring. The stock jumped the maximum 10% after trading resumed on Tuesday.

Suning.com said on Tuesday that the new fund, led by the government of Jiangsu Province and the city of Nanjing, will actively support its stable and healthy development. It said the local governments will provide emergency credit support as necessary.

Alibaba, which already owns roughly 20% of Suning.com through its Taobao unit, is an investor in the fund, as are major electronics makers Haier, Midea, TCL and Xiaomi.

($1 = 6.4595 Chinese yuan renminbi) (Reporting by Samuel Shen in Shanghai, Sophie Yu and Tony Munroe in Beijing; Editing by Shailesh Kuber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HAIER SMART HOME CO., LTD. -2.34% 24.66 End-of-day quote.-15.58%
HUATAI SECURITIES CO., LTD. -1.44% 17.75 End-of-day quote.-1.44%
MIDEA GROUP CO., LTD. 0.61% 67.2 End-of-day quote.-31.74%
SUNING.COM CO., LTD. -0.19% 5.18 End-of-day quote.-32.81%
TCL ELECTRONICS HOLDINGS LIMITED -2.68% 3.99 End-of-day quote.-31.33%
XIAOMI CORPORATION -1.78% 22.1 End-of-day quote.-33.43%
All news about HUATAI SECURITIES CO., LTD.
09/09Traffic Control Technology Co., Ltd. announced that it has received CNY 759.999988 mill..
CI
08/30HUATAI SECURITIES : HTSC 2021 Interim Results Presentation
PU
08/29YANG XIAOSONG : The Institutional Investor's Road to Carbon Neutrality
AQ
08/27HUATAI SECURITIES : HTSC Posts Record First-half Turnover and Profit in 2021
AQ
08/27Huatai Securities Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2..
CI
08/04MARKET CHATTER : CICC Boosts Overseas Staff to Bolster Foreign Link to Chinese Bond Market
MT
07/20Jiangsu Olive Sensors High-Tech Co., Ltd. announced that it has received CNY 475.999951..
CI
07/15HUATAI SECURITIES : Ekornes QM Holding AS acquires remaining shares in Ekornes Holding AS
AQ
07/14HUATAI SECURITIES' : Asset Management Unit Joins UN-Supported Principles for Responsible I..
AQ
07/14QUOTES : China's surprise RRR cut gets markets pondering rate cuts, other easing
RE
More news
Analyst Recommendations on HUATAI SECURITIES CO., LTD.
More recommendations
Financials
Sales 2021 37 692 M 5 829 M 5 829 M
Net income 2021 13 166 M 2 036 M 2 036 M
Net Debt 2021 124 B 19 201 M 19 201 M
P/E ratio 2021 12,1x
Yield 2021 2,73%
Capitalization 129 B 19 949 M 19 948 M
EV / Sales 2021 6,72x
EV / Sales 2022 6,67x
Nbr of Employees -
Free-Float 52,0%
Chart HUATAI SECURITIES CO., LTD.
Duration : Period :
Huatai Securities Co., Ltd. Technical Analysis Chart | 601688 | CNE100000LQ8 | MarketScreener
Technical analysis trends HUATAI SECURITIES CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 17,75 CNY
Average target price 22,04 CNY
Spread / Average Target 24,2%
EPS Revisions
Managers and Directors
Yi Zhou President, CEO & Executive Director
Xiaoning Jiao Chief Financial Officer
Wei Zhang Chairman
Yun Li Chief Compliance Officer
Chuan Ming Chen Independent Non-Executive Director
Sector and Competitors