Latest news with #StarMarket
South China Morning Post
8 hours ago
- Business
- South China Morning Post
China to loosen IPO restrictions by reinstating listings of unprofitable start-ups: CSRC
China plans to resume listings of unprofitable start-ups on its technology boards in an effort to support the nation's drive toward technological self-sufficiency and roll back curbs on the initial public offering (IPO) market , according to the head of the stock market regulator. At the Lujiazui Forum in Shanghai on Wednesday, Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), said listings would be restarted for pre-profit firms seeking to trade on the Shanghai exchange's Technology and Innovation Board, also known as the Star Market . The watchdog would also apply the rule to Shenzhen's ChiNext board, which hosts smaller companies. The relaxation came as a surprise to investors after two years of strict IPO approvals by the CSRC, which sought to arrest a decline in China's US$10.5 trillion stock market by reducing equity supplies. The move is seen as a supportive measure for China's start-ups at a time when Beijing is seeking to reduce its tech reliance on the US amid simmering trade tensions. 'Innovation requires alliance among scientists, entrepreneurs and investors,' Wu said. The Star Market 50 Index, which tracks the 50 biggest stocks on the board, including Semiconductor Manufacturing International and artificial intelligence (AI) chipmaker Cambricon Technologies, reversed a loss of as much as 0.4 per cent before trading little changed. A gauge of the ChiNext board dropped 0.4 per cent. The relaxation was meant to 'better and more precisely' serve high-quality tech companies that have breakthroughs, big spending on research and development, and promising business outlooks, Wu said. A wider array of unprofitable companies – including firms engaged in AI, commercial aviation and the low-altitude sector – could apply for listings on the Star Market before they became profitable, he said. The CSRC would also kick off a trial programme introducing 'seasoned' professional investors to trade the stocks after listings, Wu said.
Yahoo
a day ago
- Business
- Yahoo
Wells Fargo Remains Bullish on Albertsons Companies (ACI)
Albertsons Companies, Inc. (NYSE:ACI) is one of the 13 Most Undervalued Retail Stocks to Buy Right Now. On May 9, Wells Fargo analyst Edward Kelly maintained a Buy rating on Albertsons Companies, Inc. (NYSE:ACI) and set a price target of $27.00. The company's fiscal Q4 2024 results showed notable improvements supporting the rating, with identical sales rising 2.3% and digital sales growing 24%. Albertsons Companies, Inc. (NYSE:ACI) also reported 15% growth in its loyalty members to 45.6 million, along with a net income of $172 million. Albertsons Companies, Inc. (NYSE:ACI) also recently announced the expansion of its business eCommerce platform to more than 2,00 stores, including Star Market, Shaw's, Albertsons, ACME, Tom Thumb, and more. The company is leveraging its diverse product selection and extensive store network to reach this significant customer base in the market. Albertsons Companies, Inc. (NYSE:ACI) is a US-based food and drug retailer. It has over 2,269 stores across 34 states and the District of Columbia under 20 banners, including Star Market, Shaw's, Albertsons, Kings Food Markets, United Supermarkets, Haggen, Kings Food Markets, Acme, Carrs, and more. While we acknowledge the potential of ACI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. 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
