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《大行》高盛：建構中資股股東回報投資組合 包括工行(01398.HK)、中行(03988.HK)、招行(03968.HK)、騰訊(00700.HK)、京東(09618.HK)及比亞迪(01211.HK)等

Goldman Sachs: Constructing a portfolio of returns for Chinese shareholders, including ICBC (01398.HK), Bank of China (03988.HK), China Merchants Bank (03968.HK), Tencent (00700.HK), jd.com (09618.HK) and BYD Company Limited (01211.HK).

AASTOCKS ·  Jun 24 10:20

Goldman Sachs released a research report highlighting that investment themes focusing on shareholder returns are taking shape in mainland China, indicating that mainland listed companies have returned over RMB 2 trillion to shareholders annually through dividends and buybacks over the past three years.

The bank is bullish on this theme, and has constructed a Chinese shareholder return portfolio that includes stable cash flow generating companies, companies with surprising dividends or buybacks, and specific state-owned or national enterprises. This portfolio consists of 40 companies from 16 different industries, expected to achieve a shareholder return yield of 3%, a free cash flow yield of 5%, and a cash/market cap ratio of 16% by 2024.

The individual stocks in the portfolio include ICBC (01398.HK), Bank of China (03988.HK), China Merchants Bank (03968.HK), Ping An Insurance (02328.HK), Tencent (00700.HK), JD.com (09618.HK), BYD Company Limited (01211.HK), Yum China (09987.HK), ZTO Express (02057.HK), and Tongchengtravel (00780.HK).

The translation is provided by third-party software.


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