Monday, February 24, 2020
Martin Hennecke

22 SAR-listed firms connected to Shenzhen
The Shenzhen bourse has added 22 SAR-listed stocks to the Shenzhen-Hong Kong Stock Connect, including China Tobacco International (6055), China East Education (0667), Jinxin Fertility Group (1951), and Hansoh Pharmaceutical Group (3692), which just listed on the mainboard three months ago. Thirty-one stocks excluded from the connect scheme included Dah Sing Banking (2356) and Standard Chartered (2888). Shares of China Tobacco International have skyrocketed from its initial public offering price of HK$4.88 in June to HK$24.40 as of yesterday. The company is the overseas subsidiary of state monopoly China National Tobacco, which is the world's largest cigarette maker. The unit mainly procures tobacco leaf products from countries such as Brazil and the United States and sells them to Chinese manufacturers. The subsidiary announced two weeks ago that its net profit for the six months ended June 30 slumped 30.5 percent to HK$130.6 million, due to the ongoing Sino-US trade war and yuan depreciation, and enactment of a law on plain packaging for cigarettes. The Shanghai Stock Exchange also adjusted the list under the Shanghai-Hong Kong Stock Connect yesterday. Mainland developer Midea Real Estate (3990), drugmaker Hansoh Pharmaceutical Group, vocational training company China East Education, and assisted reproductive services provider Jinxin Fertility Group were added to the Shenzhen- and Shanghai-Hong Kong Stock Connect at the same time. Among them, Jinxin Fertility saw the biggest share price rise yesterday, up 8.7 percent to HK$11.74. China East Education added 7.05 percent to HK$14.88, while Hansoh Pharmaceutical fell 5.95 percent to HK$26.10. Seven companies were removed from both connect schemes - Hongkong and Shanghai Hotels (0045), Chinese Estates Holdings (0127), China Shanshui Cement Group (0691), CMBC Capital (1141), Fosun Tourism (1992), Dah Sing Banking and Standard Chartered.

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