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SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION

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Factbox-U.S.-listed Chinese firms with secondary listings at home and Hong Kong

12/06/2021 | 03:40am EST
A screen displays trading information for ride-hailing giant Didi Global on the floor of the NYSE in New York

HONG KONG (Reuters) - Ride-hailing giant Didi Global's move to withdraw from the New York stock exchange has put a spotlight on other U.S.-listed Chinese firms and whether more will jump ship to Hong Kong and elsewhere.

Didi's plan to withdraw may create an even deeper chill after this year's drop-off in Chinese firms' listings in the world's most liquid market, bankers and advisers have said.

Here's a FACTBOX on Chinese companies' U.S. IPOs and their secondary listings in recent years.

U.S. LISTINGS BY CHINESE FIRMS

As a result of Beijing's unprecedented regulatory crackdown on sectors including technology and private education, listings by Chinese companies in New York have tapered off in the second half of 2021 to their lowest level since the first half of 2017.

YEAR FIRST HALF SECOND HALF

2021 $12.74 billion $355 million*

2020 $2.82 billion $10.85 billion

2019 $1.49 billion $2.04 billion

2018 $4.12 billion $5.06 billion

2017 $311 million $3.50 billion

2016 $336 million $1.86 billion

*2021 second half data up to Dec. 2

(Source: Dealogic)

SECONDARY LISTINGS BY U.S.-LISTED CHINESE FIRMS

To date, secondary listings in China and Hong Kong by U.S.-listed Chinese firms totalled $15.25 billion, according to Refinitiv data, higher than the last two years.

Here are the top six secondary listings undertaken by Chinese companies that have berths in the United States over the last three years:

DATE COMPANY DEAL SIZE EXCHANGE

Nov 2019 Alibaba $12.93 billion Hong Kong

June 2020 JD.com $4.46 billion Hong Kong

Nov 2021 BeiGene $3.33 billion STAR Market

June 2020 NetEase $3.12 billion Hong Kong

March 2021 Baidu $3.08 billion Hong Kong

March 2021 Bilibili $2.99 billion Hong Kong

(Source: Dealogic, Refinitiv)

(Reporting by Scott Murdoch and Nikhil Kurian Nainan; Editing by Sumeet Chatterjee and Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAIDU, INC. -3.20% 156.84 Delayed Quote.5.41%
BEIGENE, LTD. 0.03% 251.45 Delayed Quote.-7.19%
BILIBILI INC. -8.26% 36.08 Delayed Quote.-22.24%
JD.COM, INC. -4.60% 73.46 Delayed Quote.4.84%
NETEASE, INC. -6.16% 96.99 Delayed Quote.-4.71%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 0.31% 19.52 End-of-day quote.4.61%
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Analyst Recommendations on SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
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Financials (USD)
Sales 2021 5 442 M - -
Net income 2021 1 536 M - -
Net cash 2021 2 414 M - -
P/E ratio 2021 13,0x
Yield 2021 -
Capitalization 19 815 M 19 815 M -
EV / Sales 2021 3,20x
EV / Sales 2022 2,81x
Nbr of Employees 17 354
Free-Float 84,6%
Chart SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
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Semiconductor Manufacturing International Corporation Technical Analysis Chart | 981 | KYG8020E1199 | MarketScreener
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Number of Analysts 25
Last Close Price 2,51 $
Average target price 3,59 $
Spread / Average Target 43,2%
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Managers and Directors
Hai Jun Zhao Co-Chief Executive Officer & Executive Director
Meng Song Liang Co-Chief Executive Officer
Yong Gang Gao Chairman, CFO & Executive VP
Mei Sheng Zhou Executive VP-Technology Research & Development
Xin Zhang Senior Vice President-Operations & Engineering
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