After Hong Kong-listed companies are incorporated into the Hong Kong stock market, mainland investors can invest in different exchanges.
On October 25, Shenzhen-Hong Kong Stock Connect issued an announcement, and the list of Hong Kong stock exchanges under Shenzhen-Hong Kong Stock Connect was adjusted and transferred to Xiaomi Group and US Mission Group. Effective.
In August of this year, the Shenzhen Stock Exchange and the Hong Kong Stock Exchange reached a consensus on the conditions for the first time that different companies with the same shares were included in the Hong Kong Stock Connect, and the relevant rules were revised. Both Xiaomi and Meituan meet these conditions. The revised contents of the two exchanges include:
1, listing for 6 months plus 20 Hong Kong stock trading days;
2. The average daily market value of 183 days before the inspection day (including the day of the inspection day) is not less than HK$20 billion, and the total turnover of Hong Kong stocks is not less than HK$6 billion;
3. Meet the compliance conditions. Since the listing, stock issuers and beneficiaries of different voting rights have not been publicly accused by the Stock Exchange for violating the Stock Exchange’s regulations on corporate governance, information disclosure and investor protection measures with different voting rights structures. Public sanctions or trigger the termination of different voting rights.
Millet was listed in Hong Kong on July 9, 2018. The US Mission ringed the clock in Hong Kong on September 20 of the same year, meeting the requirements of “6 months plus 20 Hong Kong stock trading days”. Millet most of the time the market value of more than 200 billion Hong Kong dollars, the US group market value has never been less than 200 billion Hong Kong dollars, both meet the “average daily market value of not less than 20 billion yuan” conditions. The liquidity of the two is also very good. The average daily turnover is in the range of hundreds of millions of Hong Kong dollars. It is not a problem to check the total turnover of Hong Kong stocks at 183 days before the date of not less than HK$6 billion.
In the first half of 2018, the HKEx will write “the same rights and different rights” into the listing system to welcome more unicorns to go public in Hong Kong. On July 9 of the same year, Xiaomi became the first company to be listed in Hong Kong with different rights. The US group comment followed. However, shortly after the listing of Xiaomi in July last year, the Shanghai Stock Exchange and the Shenzhen Stock Exchange issued a notice that the stocks of different voting rights companies will not be included in the stock market of Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. On the following trading day, Xiaomi’s share price plummeted nearly 7%. The news also interrupted the stock gains at the beginning of Xiaomi’s listing and then entered the downside. Xiaomi’s series of repurchases after June failed to stabilize the stock price, and its market value once fell below 200 billion Hong Kong dollars.
The US group is another situation. Although there were fluctuations during the period, the stock price as a whole showed an upward trend after the listing. At present, its market value has exceeded 500 billion Hong Kong dollars, which is more than 30% higher than when it was just listed. Among the domestic Internet listed companies, only Ali and Tencent.
After the Hong Kong stock listed company is included in the Hong Kong Stock Connect, mainland investors can crossInvest in it with the exchange restrictions. This is undoubtedly a big plus for the current stock price downturn, and it is also a icing on the cake for the current stock price. Both stock prices rose on Monday, and Xiaomi rose 5%, and the US group rose 4.3%, which was also affected by this news.
The header image is from Xiaomi