china's biggest aircon maker slumps after skipping dividend - chinese appliance manufacturers

by:Yovog     2019-07-10
china\'s biggest aircon maker slumps after skipping dividend  -  chinese appliance manufacturers
Among foreign investors, the most popular Chinese consumer stocks lost $4.
2 billion on Thursday, the company skipped dividends for the first time in 11 years.
The biggest airline in China
Air conditioning manufacturer Gree Electric Appliance Co. , Ltd.
Shenzhen's stock market fell 9%, its biggest drop since December 2016, after the company unexpectedly missed a dividend when it reported its earnings on Wednesday evening.
Shares traded were worth a record $2.
7 billion, is the most active stock trading through Shenzhen
Hong Kong stocks are linked to net sales of overseas investors.
36 billion yuan ($373 million)of shares. Citigroup Inc.
Say the dividend decision could be one-
In the future, off and Gree will still maintain a payment rate of about 60%.
In its earnings report, the company said it would withhold cash for possible expenses for capacity expansion, smart factories, upgrade of production facilities and other uses.
Liu guanghuan said that the fall in stock prices on Thursday provided investors with a good opportunity to buy because Gree's valuation was attractive, its plan to expand advanced manufacturing and integrated circuits is, in the long run, an analyst at a positive new era securities company.
Given that China's securities regulator has urged companies to pay dividends, it is unlikely that others will follow Gree's payment decision, Liu said.
On Thursday, the Shenzhen Stock Exchange asked Gree to explain why dividends were not paid and whether measures had been taken to protect the interests of smaller investors.
According to data compiled by Bloomberg, Gree's price-earnings ratio is 11 times, while the Shenzhen Composite Index is 18 times.
There are 8 investors using the link.
According to the Hong Kong stock exchange, Gree's 4% stake as of Wednesday has made it one of the most popular Chinese picks for foreigners.
Credit Suisse Group AG downgraded its rating of gree from excellent performance to neutral, but most other analysts bought a post-Zhuhai rating --
Based on the company's
Annual net income exceeded expectations.
Gree's shares rose 15% this year before Thursday's slump, while the Shenzhen Composite Index fell 4. 7 percent.
Shares of other appliance manufacturers fell on Thursday.
It is also a favorite of foreign investors, losing 2.
3% Shenzhen and Qingdao Haier companydropped 1.
Shanghai 8%—
Chat Online
Chat Online
Chat Online inputting...