David Michael Webb (David Michael Webb), a former non-executive director of Hong Kong Exchanges and Clearing, has won the title of "long hair in the stock market" because he is a maverick and likes to comment on Hong Kong's financial and economic affairs.
A year and a half later, "long hair in the stock market" has come to make trouble again. David today published a new list of Hong Kong stocks that cannot be held, including 26 shares involving China Huarong (02799.HK) and 01998.HK, which have equity or other connections.
Long Mao pointed out that the people behind this network are Yao Zhenhua and Yao Jianhui. Yao Zhenhua is chairman of Shenzhen Baoneng Investment Group and Qianhai Life Insurance. Yao Zhenhua was banned from the insurance industry for 10 years by the China Insurance Regulatory Commission (CBIC) last year because of the provision of false materials and illegal use of insurance funds. Yao Jianhui (younger brother Yao Zhenhua) is also the actual controller of Baoneng Department and holds the post of chairman of 01282.HK of China.
He mentioned that 01141.HK, a subsidiary of the people's Bank of China, was in a bubble, with a market capitalization of about HK $17 billion as of yesterday and only about HK $1.1 billion in tangible net assets as of the end of June, with a high debt ratio, mainly from loans from the people's Bank of China, amounting to HK $6.3 billion. He believes that the relationship between China Huarong and Minhang Bank is linked by Min Bank Capital, because China soft Power (00139.HK) has bought shares in Min Bank, holding about 4%, and the funds are partly supported by Huarong subsidiaries.
He also mentioned other shares with bubbles, such as 08176.HK and 01269.HK, which did not match their market capitalization and net tangible assets. He reminded that these shares are only part of the network between Huarong and the people's Bank of China, and should also be careful of other shares. For example, the relationship between the Shanghai Government and its media organizations, as well as Greenland Holdings, their subsidiaries listed in Hong Kong are also supported by funds from China Huarong, and investors need to observe carefully.
Stock market long hair suggested that should not buy 26 stocks:
Company name | Hong Kong stock listing number |
China's soft power | 00139 |
Ping an Securities Group | 00231 |
Public financial science and technology | 00279 |
New sports | 00299 |
Green space Hong Kong | 00337 |
Future world finance | 00572 |
Landing International | 00582 |
Fengsheng Holdings | 00607 |
Xingye solar energy | 00750 |
People's Bank of China Capital | 01141 |
First control group | 01269 |
China Jinyang | 01282 |
Practical and external education | 01565 |
Hongda Financial Holdings | 01822 |
China Minsheng Banking Corp | 01988 |
Zall Zhaopin | 02098 |
Port Bridge Finance | 02323 |
Baide International | 02668 |
Derivative group | 06893 |
Madison Holdings | 08057 |
Superhuman intelligence | 08176 |
Zhongxin Holdings | 08207 |
Bairong Group Holdings | 08316 |
China Huarong | 02799 |
Huarong investment stock | 02277 |
Huarong Financial Control | 00993 |
On May 15 last year, David Webb, an independent stock commentator, suggested that 50 Hong Kong stocks could not be bought. On the second day, there were many stocks on the list.
May 16, 2017, DavidWebb named 50 mine stocks, 38 stocks showed varying degrees of decline. Among them, Milan (01150) had the largest decline of 22.73%, while OneWorld International Finance (01046), Metro Holdings (01389), Jiurong Holdings (02358), Xinrui Pharmaceuticals (06108) and China Wallet (00802) all fell by more than 10%. Only five stocks including Sunshine Technology (01063), Junyang Finance (00397), Taiga Insurance (06161), Huilong Holdings (08021) and DX.COM Holdings (08086) showed gains, with the largest increase of 6.25%.
Attachment: 50 Hong Kong stocks that could not be bought last year
Photo source: Zhitong Finance