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HKG:6810

5 stories mentioning HKG:6810Updated 36d ago

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Asia

Hong Kong Stocks Rebound as China Policy Signals Lift Sentiment; Sunmi Tech Shines on Debut

Hong Kong stocks rebounded on Wednesday as policy signals from China's top leadership lifted sentiment alongside improving corporate earnings sentiment.The Hang Seng Index gained 432.06 points, or 1.7%, to close at 26,111.84, while the Hang Seng China Enterprises Index added 160.79 points, or 1.9%, to 8,805.60.China's Politburo called for faster development of a modern industrial system, wider adoption of artificial intelligence, and greater emphasis on technological self-reliance and supply chain resilience.It also highlighted measures to support consumption, stabilize the property sector, protect employment, and address industrial overcapacity.Meanwhile, markets also absorbed the surprise departure of the United Arab Emirates from OPEC, although the broader alliance is expected to remain intact.In corporate news, Shanghai Sunmi Technology (HKG:6810) made its Hong Kong debut, closing 241% higher at HK$84.80, compared with the offer price of HK$24.86.Hong Kong Exchanges and Clearing (HKG:0388) gained nearly 3% after reporting a 27% increase in first-quarter profit.Geely Automobile (HKG:0175) gained nearly 3% despite reporting a 27% decline in first-quarter profit.

Hang SengHKG:0175HKG:0388HKG:6810
Asia

Shanghai Sunmi Technology Soars 292% in Hong Kong Trading Debut

Shanghai Sunmi Technology's (HKG:6810) shares opened 292.3% above their initial public offering price in a stellar Hong Kong debut on Wednesday morning.The China-based business IoT services provider opened at HK$97.50 per share, well above the offer price of HK$24.86.

HKG:6810
Asia

Sunmi Technology Nets HK$922 Million in Hong Kong IPO Ahead of Debut

Shanghai Sunmi Technology (HKG:6810) raised HK$922 million in net proceeds from its initial public offering in Hong Kong.The offer price was set at HK$24.86 per H-share, according to a Tuesday after-market filing with the Hong Kong Stock Exchange.The China-based business IoT services provider offered 42.6 million H-shares in the global offering.The Hong Kong public offer was 2,003.16 times subscribed, with a final allocation of 4.3 million shares, representing 10% of the total offering.The international offering was 7.91 times subscribed, with a final allocation of 38.4 million shares, or 90% of the total offering.Cornerstone investors, including China Orient Enhanced Income Fund and Xinwutang, were allotted a combined 11.5 million shares, according to the filing.Shanghai Sunmi Technology is scheduled to debut on the Hong Kong bourse on Wednesday, April 29.

HKG:6810
Asia

Hong Kong Stocks End Higher Amid Middle East Developments; Victory Giant Technology Shines in Debut

Hong Kong stocks closed marginally higher Tuesday as investors tracked the latest developments in the Middle East, including reports Iran was considering attending a second round of peace talks in Islamabad.The Hang Seng Index rose by around 126.41 points, or roughly 0.5%, to end at 26,487.48, while the Hang Seng China Enterprises Index increased by 44.48 points, or around 0.5%, to close at 8,943.54.Rhetoric between Iran and the U.S. intensified as a two-week ceasefire between the sides neared its end, with uncertainty over whether the countries will attend a second round of peace talks in Pakistan.A senior Iranian official told Reuters the country may send a delegation to attend the talks, while analysts from Westpac noted that the potential talks in Islamabad remain likely, Reuters reported.Meanwhile, Hong Kong's Securities and Futures Commission rolled out a new regulatory framework to enable secondary trading of tokenized investment products.The initiative will initially allow trading of tokenized SFC-authorized open-ended funds on licensed virtual asset trading platforms, with the regulator also open to considering over-the-counter arrangements on a case-by-case basis.In corporate news, Victory Giant Technology (HKG:2476; SHE:300476) shined in its Hong Kong debut after shares closed at HK$315 per share, 50% above their offer price of HK$209.88.Elsewhere, Sunmi Technology (HKG:6810) launched its Hong Kong initial public offering to raise about HK$1.06 billion.The Chinese IoT services provider is offering 42.6 million H-shares at HK$24.86 apiece to raise funds for research and development and strengthen supply chain and manufacturing capabilities.

Hang SengHKG:2476HKG:6810SHE:300476
Asia

Sunmi Technology Launches Up to HK$1.1 Billion Hong Kong IPO

Sunmi Technology (HKG:6810) launched its Hong Kong initial public offering on Tuesday, seeking to raise about HK$1.06 billion from the deal.The China-based business IoT services provider is offering 42.6 million H-shares at an offer price of HK$24.86 per share, according to a Hong Kong bourse filing.The offering comprises 4.3 million shares for Hong Kong investors and 38.4 million shares for international investors, subject to reallocation.The allocation results will be disclosed April 28, ahead of the company's planned trading debut on April 29.Net proceeds will be used mainly for research and development of BIoT hardware and software, strengthening supply chain and manufacturing capabilities, and expanding global markets.The funds will also support AI-related development, platform upgrades, overseas production expansion, and working capital and general corporate purposes.Deutsche Securities Asia, CITIC Securities (Hong Kong), and ABCI Capital are acting as joint sponsors.Deutsche Bank, CLSA, ABCI Capital, and CMB International Capital are also acting as joint bookrunners, together with Shenwan Hongyuan Securities (H.K.) and Yue Xiu Securities.Other bookrunners include Yellow River Securities, Tiger Brokers (HK) Global, Futu Securities International (Hong Kong), Tianda Securities, Webull Securities, Yuen Meta (International) Securities, West Bull Securities, and Livermore.Deutsche Bank, CLSA, ABCI Securities, and CMB International Capital are acting as joint lead managers.

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