20211130-马银证券_香港_-每日港股简评_2页_138kb

报告摘要

Market Overview Summary

Core Content

The market overview highlights recent developments in the Hong Kong and Macau financial sectors, along with key economic data and company updates that have impacted investor sentiment.

Market Performance

The Macau gaming sector experienced a slump following the arrest of 11 individuals linked to cross-border gambling and money laundering.
Suncity Group (1383 HK) was suspended from trading, raising concerns about the junket VIP business in the short term.
Related stocks fell by 6–11% on average.
The Hang Seng Index corrected by 228 points, closing at 23,852 points, primarily due to the performance of the Macau gaming sector and concerns over the development of new variants of a virus.
Daily turnover was at HKD144.5 billion.
Technically, the Hang Seng Index may test its year-low, as both the 14-day RSI and MACD indicators show technical weakness.
The focus for the week is on a series of China economics data, with the NBS official manufacturing PMI expected today at a consensus estimate of 49.6.

Sector News

China and Hong Kong (Border Reopening Updates)

There are rumors that the resumption of quarantine-free travel between the Chinese mainland and Hong Kong may be delayed until the end of December 2021.
Officials are seeking to increase the daily quota for such travel to more than 1,000 people.
The increase in the daily quota is expected to be gradual, depending on the epidemic prevention situation.

Company News

Ascentage (6855 HK)

Ascentage's Class I drug HQP1351 (olverembatinib) has been granted conditional market approval by the China NMPA following a priority review.
The 3rd-generation BCR-ABL TKI is used to treat chronic phase and accelerated phase CML with T315I mutation resistance.
Ascentage has entered into a partnership with Innovent (1801 HK) in July 2021 for the joint commercialization of olverembatinib in China.

UPC (220 HK)

UPC confirmed gradual price adjustments in 4Q21, with some products already seeing price increases.
The Soup Daren brand is driving the premiumization trend, with double-digit YoY growth in 3Q21.
The mass noodles segment faced challenges due to a high revenue base.
UPC is also investing in convenience foods brand Kai Xiaozao to diversify from its instant noodles business.

Cafe de Coral (341 HK)

The company reported in-line 1HFY22 results, with 20% YoY sales growth and a 50% YoY decline in net profit.
It declared an interim dividend of HKD10 cents.
Hong Kong business saw a recovery in same-store sales growth (SSSG), supported by government coupons in August and October.
Traffic remains 10–20% below pre-COVID levels.
China business experienced volatile SSSG due to the outbreak of COVID-19 and social distancing measures.

CSCI (China State Construction Engineering Corporation)

CSCI unveiled its first MiC (modular integrated construction) project in China, the Shenzhen Baguang International Hotel.
The project is 90% prefabricated, including interior and exterior structure, electromechanical systems, drainage, and other elements.
It is expected to cost 5–10% more than conventional construction, but offers significant labor savings and environmental benefits.
On-site waste from construction at Baguang International Hotel could be reduced by c.75% through MiC and recycling technology.
The market believes CSCI can gain market share in China due to its MiC technology, carbon-neutral strategy, and strong experience in Hong Kong.

Disclaimers

This report is for general information purposes only and is not investment research or a research recommendation.
The information is based on data from recognized statistical services, issuer reports, or other sources believed to be reliable.
Kim Eng (HK) does not independently verify the information and makes no representation regarding its accuracy or completeness.
Investors are advised to consult their financial advisors to ensure that investments align with their financial resources and risk preferences.
There may be risks inherent in international investments, including economic, political, currency exchange rate fluctuations, and limited availability of information.
Kim Eng (HK) may participate or invest in financing transactions with companies mentioned, and its employees or directors may serve as directors for such companies.
This report is intended for Kim Eng (HK)'s clients and cannot be reproduced, altered, or distributed without prior written consent.