Latest news with #HangSengCompositeIndex
Fashion Network
2 days ago
- Business
- Fashion Network
Chinese jeweler Laopu Gold becomes Hong Kong's highest-priced stock after 2,300% surge
Chinese heritage jeweler Laopu Gold Co. has emerged as a breakout player in the luxury sector, with its stock price climbing above HK$1,000 ($127) following a 2,300% rally since its June 2024 listing. The surge marks a rare milestone for the Hong Kong market and signals growing investor confidence in a new wave of domestic brands appealing to China's Gen Z consumers. The stock has soared more than 2,300% since its listing in late June 2024, outperforming more than 500 peers in the Hang Seng Composite Index during the period. At HK$1,000 per share on Thursday, it far surpasses the second-most expensive stock in the financial hub: bubble tea maker Mixue Group, which is trading at just above HK$600. While Laopu's sharp rise highlights investor enthusiasm for a new wave of Chinese consumption stocks tailored to Gen Z preferences, its steep price point could pose a barrier to retail participation. With the company's minimum trading unit set at 100 shares, investors must commit at least HK$100,000—the equivalent of $12,750—to gain exposure to the stock. Companies listed in Hong Kong can set their own minimum trading units—known as a 'board lot'—ranging from dozens to thousands of shares. While investors can place orders for odd lots, including a single share through brokerages, these transactions typically take longer to match and can incur higher fees. Bloomberg reported in March that the financial hub's exchange was discussing options to lower the threshold for investors to buy some of the most expensive stocks to boost trading activity. The retail portion of Laopu's initial public offering was nearly 600 times oversubscribed, prompting the company to increase the number of shares allocated to individual investors by six times to 11.2 million. The jewelry maker's remarkable rally will face its first meaningful test as it approaches the first anniversary of its debut on June 27, when a lockup on 121.4 million shares will expire. That's more than double the current number of free-float shares. The stock posted its worst weekly drop since its listing in December last year, just before the expiry of a six-month lockup on 10.8 million shares. Laopu has yet to indicate any plans for a stock split, a common strategy taken by high-flying firms to cheapen the value of each share and make it more affordable. Tencent Holdings Ltd. performed a 5-for-1 split in 2014, shortly after share prices peaked above HK$600. Zai Lab Ltd. divided each share into 10 in 2022, lowering the price to around HK$35.
Fashion Network
2 days ago
- Business
- Fashion Network
Chinese jeweler Laopu Gold becomes Hong Kong's highest-priced stock after 2,300% surge
Chinese heritage jeweler Laopu Gold Co. has emerged as a breakout player in the luxury sector, with its stock price climbing above HK$1,000 ($127) following a 2,300% rally since its June 2024 listing. The surge marks a rare milestone for the Hong Kong market and signals growing investor confidence in a new wave of domestic brands appealing to China's Gen Z consumers. The stock has soared more than 2,300% since its listing in late June 2024, outperforming more than 500 peers in the Hang Seng Composite Index during the period. At HK$1,000 per share on Thursday, it far surpasses the second-most expensive stock in the financial hub: bubble tea maker Mixue Group, which is trading at just above HK$600. While Laopu's sharp rise highlights investor enthusiasm for a new wave of Chinese consumption stocks tailored to Gen Z preferences, its steep price point could pose a barrier to retail participation. With the company's minimum trading unit set at 100 shares, investors must commit at least HK$100,000—the equivalent of $12,750—to gain exposure to the stock. Companies listed in Hong Kong can set their own minimum trading units—known as a 'board lot'—ranging from dozens to thousands of shares. While investors can place orders for odd lots, including a single share through brokerages, these transactions typically take longer to match and can incur higher fees. Bloomberg reported in March that the financial hub's exchange was discussing options to lower the threshold for investors to buy some of the most expensive stocks to boost trading activity. The retail portion of Laopu's initial public offering was nearly 600 times oversubscribed, prompting the company to increase the number of shares allocated to individual investors by six times to 11.2 million. The jewelry maker's remarkable rally will face its first meaningful test as it approaches the first anniversary of its debut on June 27, when a lockup on 121.4 million shares will expire. That's more than double the current number of free-float shares. The stock posted its worst weekly drop since its listing in December last year, just before the expiry of a six-month lockup on 10.8 million shares. Laopu has yet to indicate any plans for a stock split, a common strategy taken by high-flying firms to cheapen the value of each share and make it more affordable. Tencent Holdings Ltd. performed a 5-for-1 split in 2014, shortly after share prices peaked above HK$600. Zai Lab Ltd. divided each share into 10 in 2022, lowering the price to around HK$35.
Business Times
2 days ago
- Business
- Business Times
Laopu Gold's 2,300% rally faces test after stock hits HK$1,000
A BREATHTAKING rally in Laopu Gold is facing a critical test after its stock price hit HK$1,000 (S$164), a rare milestone that may deter retail investors due to the steep price tag. The jewellery maker soared more than 2,300 per cent since its listing in late June 2024 to set a new record earlier on Thursday (Jun 5), emerging as the new face of Chinese luxury and outperforming over 500 peers in the Hang Seng Composite Index. Its share price far surpasses the second-most expensive stock in Hong Kong: bubble tea maker Mixue Group which is trading at around HK$580. While Laopu's ascent underscores market zeal towards China's new consumption stocks catering to Gen Z demand, investors will likely demand more to purchase shares at this level. With a minimum trading unit set at 100 shares by the company, it means a buyer must shell out HK$100,000 – the equivalent of US$12,750 – to gain exposure to Laopu. Share price moves on Thursday illustrate the point. The stock fell as much as 8.5 per cent after reaching HK$1,015 earlier in the session. Peer Chow Tai Fook Jewellery Group slid more than 1 per cent in Hong Kong while Chow Tai Seng Jewellery slumped 8.2 per cent on the mainland. Another crucial test will be a Jun 27 lockup expiry of 121.4 million shares. That's more than double the current number of free-float shares. The stock posted its worst weekly drop since its listing in December last year, just before the expiry of a six-month lockup on 10.8 million shares. 'Laopu is excessively expensive in my view, based on cash flow, even though growth looks promising,' said Yu Dingheng, fund manager at Shenzhen Flying Tiger Investment & Management. 'HK$1,000 is going to be a tough hurdle.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Companies listed in Hong Kong can set their own minimum trading units – known as a 'board lot' – ranging from dozens to thousands of shares. While investors can place orders for odd lots including a single share through brokerages, these transactions typically take longer to match and can incur higher fees. Bloomberg reported in March that the financial hub's exchange was discussing options to lower the threshold for investors to buy some of the most expensive stocks to boost trading activity. The retail portion of Laopu's initial public offering was nearly 600 times oversubscribed, prompting the company to increase the number of shares allocated to individual investors by six times to 11.2 million. Laopu currently trades at nearly 32 times forward earnings, above Chow Tai Fook's ratio at around 16. Laopu has yet to indicate any plans for a stock split, a common strategy taken by high-flying firms to cheapen the value of each share and make it more affordable. Tencent Holdings performed a five-for-one split in 2014, shortly after share prices peaked at above HK$600. Zai Lab divided each share into 10 in 2022, lowering the price to around HK$35. BLOOMBERG
Yahoo
20-05-2025
- Business
- Yahoo
WuXi XDC Received Multiple Awards from 2025 Extel (previously "Institutional Investor") Ranking in Diverse Categories
SHANGHAI, May 19, 2025 /PRNewswire/ -- WuXi XDC Cayman Inc. ("WuXi XDC", stock code: a leading global Contract Research, Development and Manufacturing Organization (CRDMO) focused on the bioconjugate market, today announced that the company received multiple top awards- "Best CEO", "Best CFO", "Best Company Board", "Best IR Program", "Best IR Professional", and "Best ESG (Environmental, Social and Governance)" among different vote types, in the ranking of "2025 Asia (ex-Japan) Executive Team" by Extel (previously "Institutional Investor"). This is the second year that WuXi XDC has participated in the Extel ranking and won multiple awards. With its outstanding comprehensive strength, WuXi XDC achieved the "Grand Slam" in all ranking categories and in three different sectors -"All market capitalization" , "Small and Medium-sized market capitalization", and "Chinese mainland". As a leading international financial survey publisher, Extel creates its research-supported rankings and names award recipients based on combined buy-side and sell-side surveys within the industry. The ranking and award recipients have been seen as impactful to the capital market since its debut. This year, 5,437 investment professionals from 1,167 financial service firms casted votes in core areas including accessibility of senior executives, execution of strategy, well-informed and empowered IR Team, timeliness of disclosure, corporate and board governance, and ESG performance. Mr. Michael Xi, CFO of WuXi XDC, stated, "As a leading global CRDMO, we have been honored with multiple awards in the Extel Award for two consecutive years. This accomplishment signifies the international capital market's recognition of WuXi XDC's strategic positioning, corporate governance and social returns, and value creation capabilities. This award serves as both recognition and a responsibility. WuXi XDC will continue to foster a rewarding cycle of business growth and shareholder returns by maintaining deep market insights into bioconjugate development and enhancing global operational efficiency". WuXi XDC was listed on the Hong Kong Stock Exchange Main Board in November 2023, raising over HKD 4 billion（post green-shoe）and was named "Best IPO" by IFR Asia that year. In March 2024, the company was included in the stock list of Hong Kong Stock Connect. As of Today, WuXi XDC has been officially covered by over 30 sell-side analysts/firms, including major domestic and global sell-side institutions and the holding percentage of Hong Kong Stock Connect in WuXi XDC's total issued shares has climbed to over 13%. The company has been included as a component stock in multiple indices, such as the Hang Seng Composite Index (HSCI), the Hang Seng Hong Kong Listed Biotechnology Index (HSHKBIO), the Hang Seng Healthcare Index (HSHCI), the Hang Seng Hong Kong US Biotechnology Index (HSUSB), and the FTSE All-Cap, etc. In the realm of capital market accolades, the company has been the recipient of prestigious industry honors including "Top Investor-Picked Companies", "Most Valuable Pharmaceutical and Healthcare Company", "Most Promising Hong Kong-listed Pharma Company", "A Rating in the Wind ESG Rankings" and "Top 20 Pharmaceutical Listed Companies in ESG Competitiveness 2024". In 2024, WuXi XDC has continued to reinforce its leading position in the ADC and bioconjugates CRDMO field, with revenue increased by 90.8% YoY to RMB 4,052 million, and net profit surged by 277.2% YoY to RMB 1,070 million. As of December 31, 2024, the company has cumulatively served nearly 500 global customers and successfully delivered over 14,000 bioconjugate molecules. The "Enable, Follow and Win the Molecule" strategy continued to drive sustained and rapid project growth. By the end of 2024, the total number of integrated CMC projects had reached 194, supporting 85 IND submissions. 13 out of top 20 global pharmaceutical companies have partnered with company for R&D and manufacturing services of ADCs and broader bioconjugates. About WuXi XDC WuXi XDC Cayman Inc. ("WuXi XDC" or the "Company", stock code: is a leading global CRDMO focused on antibody drug conjugates (ADC) and the broader bioconjugate market. It provides end-to-end contract research, development and manufacturing services for bioconjugates. Its services cover antibody intermediates and other biologics intermediates, chemical payloads and linkers, as well as bioconjugate drug substances and drug products. For more information about WuXi XDC, please visit: WuXi XDC Contacts Investor: Media: wuxixdc_pr@ wuxixdc_info@ View original content to download multimedia: SOURCE WuXi XDC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-03-2025
- Business
- Yahoo
Citi Appointed as Successor Depositary Bank for Prudential plc's ADR Program
LONDON, March 20, 2025--(BUSINESS WIRE)--Citi Issuer Services, acting through Citibank N.A., has been appointed by Prudential plc ("Prudential") to act as successor depositary bank for its sponsored Level 2 American Depositary Receipt ("ADR") program. Prudential's ADRs are listed and traded on the New York Stock Exchange under the symbol "PUK". Each ADR represents two ordinary shares of the company. Prudential's underlying ordinary shares are listed and traded on the London Stock Exchange under the symbol "PRU LN". Its underlying ordinary shares are also listed and traded on the Hong Kong Stock Exchange under the symbol "2378". Commenting on the appointment, Dirk Jones, Head of Issuer Services at Citi said: "With Citi's global presence and investor relations expertise, our platform will help facilitate the continued success of Prudential's sponsored Level 2 ADR program. Through our Issuer Services business, we provide issuers with the highest quality ADR services while facilitating global access to opportunities for investors." Citi Issuer Services is a leading provider of depositary receipt services. With depositary receipt programs in over 65 markets, spanning equity and fixed-income products, Issuer Services leverages Citi's global network to provide cross-border capital market access to issuers, intermediaries, and investors. For more information on Citi's depositary receipt services, visit About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at | X: @Citi | LinkedIn: | YouTube: | Facebook: About Prudential plc Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme. Prudential is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. View source version on Contacts Citi Media Contact: Harsha Jethnani +65 93830872 Prudential Investor Contact: Patrick Bowes +44 (0)20 3977 9720 Sign in to access your portfolio
