Lates News

date
13/05/2025
Citigroup: Upgrades Pinduoduo (PDD.US) rating from neutral to buy, with target price adjusted from $127.00 to $165.00.
Latest
4 m ago
According to the research report of CITIC Securities, starting from the fourth quarter of 2024, a large number of A-share listed companies will seek dual listing in A+H and this trend is continuously strengthening. In April 2025 alone, the total number and market value of companies disclosing their listing plans on the Hong Kong stock market have already exceeded the A-share companies in the first quarter of 2025. The wave of Hong Kong IPOs is expected to occur in the second half of 2025. From the disclosure of listing to the official IPO, the company's stock price may remain flat due to tighter external communication. However, positive information gradually released after the Hong Kong IPO may lead to an increase in stock price and expectations. From a fundamental perspective, the significant discount of H-shares has improved the relative dividend returns of high-quality companies, while the convergence of subsequent discount rates also provides room for returns. Additionally, leading companies planning dual A+H listings in Hong Kong and even overseas capital markets are scarce. From a chip perspective, the liquidity and valuation of Hong Kong stocks have been continuously improving since September last year, meanwhile the circulation of shares issued by A-share companies in Hong Kong is relatively limited. The added expectation of premium valuation may trigger a rush to purchase high-quality A-share assets during their Hong Kong IPOs. It is recommended to pay attention to the opportunities for A-share assets to be revalued in Hong Kong brought by the wave of A+H dual listings.
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