Hong Kong and China Gas Company Limited produces, distributes, and markets gas and gas appliances to residential and industrial customers through its Towngas brand name.
$5 Strong results of HSBC, the stock is up 5%:
- Reported profit after tax down 46% to $2 and reported profit before tax down 36% to $3, mainly from lower revenue.
- The latest set of result suggests a bottoming of the credit cycle and the bank is “putting in place all of the building blocks we need to resume dividends,” HSBC’s CFO Ewen Stevenson told CNBC.
- The reason for lower revenue is that UK economy had big drops during lockdowns while HK avoided them
#buy
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Stephen Dixon 15:33 20/10/2020
$5 Goldman Sachs estimated HSBC HOLDINGS's 3Q20 net income at US$869 million, up 3.5 times QoQ but down 71% YoY. Pre-provision profit was modeled at US$3 billion, down 18% QoQ and 31% YoY. The bank's 3Q PBT will likely hit US$2 billion, up 1.2 times QoQ but down 50% YoY. #buy
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Stephen Dixon 15:02 19/10/2020
Li Ka-shing, Hong Kong’s richest man, is known to his admirers as “superman” for his knack for picking assets on the cheap. But that magic touch has not been working on his own companies lately.
Li and his elder son Victor Li Tsar-kuoi – who now runs the ports-to-property empire – have spent about HK$3 billion (US$490 million) since August last year to buy the flagging shares of CK Asset Holdings $1 and CK Hutchison Holdings $1333
Hong Kong and China Gas Company Limited produces, distributes, and markets gas and gas appliances to residential and industrial customers through its Towngas brand name. The Company's subsidiaries develop gas projects in China and develop and manage commercial properties.
