Legend Holdings 3396

Re: Legend IPO

Postby winston » Tue Jun 30, 2015 3:50 am

vested

Legend chief waves off slight loss in slide by Jennifer Li

Investors in Legend Holdings (3396) suffered a mere HK$3 paper loss per board lot of 100 shares on its trading debut even as stock markets around the world, including Hong Kong, tumbled yesterday.

Legend Holdings, the parent of the world's largest PC maker Lenovo Group (0992), ended 0.07 percent, or three HK cents, lower at HK$42.95, as jitters over a possible Greece exit of the euro zone battered sentiment.

Lenovo Group, of which Legend holds 30.6 percent, slumped 5.67 percent, becoming the worst-performing blue chip of the day.

"Our stock may see ups and downs but we don't care much about that," said Legend chairman Liu Chuanzhi during the listing ceremony yesterday. "What we care about is to make our future revenue and profit worthy of the long-term investors."

Legend shares hit an intraday high of HK$43.55 and a bottom of HK$42.85, generating a total trading volume of HK$2.7 billion. Liu, who hit the gong for the second time after the listing of Lenovo in 1994, said he chose Hong Kong again because it was a well- regulated and transparent market and he expects Legend's long-term profit growth to push up the value of the shares.

Chief executive Zhu Linan said the consumption and services industry remains promising despite China's economic slowdown.

"We believe there are many investment opportunities following the relaxation of policies," he said.

On market rumors that tycoon Li Ka-shing, Tencent Holdings (0700) chairman Pony Ma Huateng and Alibaba Group chairman Jack Ma Yun also subscribed to shares, Liu said he has heard the rumor but is unable to confirm the fact.

Legend raised HK$14.6 billion through the initial public offering, the third highest in the SAR this year.

Source: The Standard HK
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend IPO

Postby winston » Wed Jul 01, 2015 5:26 am

Legend shares flat on Hong Kong debut, considers A-share listing

Legend Holdings, the parent of the world's largest PC maker Lenovo Group, ended 0.07%, or three HK cents, lower at HK$42.95 (US$5.54) on its Hong Kong trading debut on June 29.

"Our stock may see ups and downs but we don't care much about that," said Legend chairman Liu Chuanzhi during a press conference that day.

He added what he cares about is the long-term performance of the company's shares, according to a report on the Caixin website.

Legend would not rule out the possibility of listing on China's A-share market but details about the listing will require further studies, Liu said, adding that in the long run, he believes the mainland stock market will continue to rise.

Liu also expressed an expectation of reforms in the Chinese capital market. Due to the gambling mindset of individual investors, a stock market bubble has been forming since the beginning of this year, he said.

The market will get into a normal growth path in the long term after more investors become more rational once a registration system and more transparent supervisory regulations have been introduced, he said.

Liu added that he chose Hong Kong again after the listing of Lenovo in 1994 because it was a well-regulated and transparent market and he expects Legend's long-term profit growth to push up the value of the shares.

Chief executive Zhu Linan said given that the Hong Kong stock market closed nearly 700 points lower, Legend's performance was not bad compared with the overall market. Zhu said he is confident about the performance of the company's shares either in the short term or long term.

The group's valuation was HK$9 billion (US$1.16 billion) when Lenovo was first listed in 1994 and has since increased 130 fold to the current HK$120 billion (US$154.8 billion).

In 2014, Lenovo has risen to become the world's largest personal computer vendor by unit sales after it acquired IBM's PC business in 2005.

http://www.wantchinatimes.com/news-subc ... 0630000157
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend 3396

Postby winston » Tue Jul 21, 2015 12:33 pm

vested

SINGAPORE PRESS - China's Hony Capital keen to explore REITs listings on SGX - Business Times

Hony Capital, a major Chinese private equity firm that counts Temasek and GIC among its investors, is keen to explore ways to work with the Singapore Exchange (SGX) in securitisation products, Singapore's Business Times reported on Tuesday, citing the firm's chief executive.

Chief executive John Zhao said on the sidelines of the FutureChina Global Forum on Monday that he plans to kick-start talks with SGX, noting that there are many Chinese companies with real estate assets such as hospitals, offices and hotels that are ready for securitisation.

Source: Business Times
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend 3396

Postby winston » Mon Aug 03, 2015 11:55 am

vested

<Research Report>M Stanley Initiates LEGEND HOLDING at Equalweight with Target Price of $37

Morgan Stanley initiated LEGENDHOLDING (03396.HK) at Equalweight with a target price of $37, which implies a 2016 P/B of 1.3x and a discount to NAV of 15%, compared with a 20-30% target discount to NAV the broker uses in valuing other China conglomerate stocks.

The broker appreciated the company's strong management team and good track record of financial investments. However, it is believed that there will be only limited upside after reflecting the negative impact of recent market volatility.

The broker mentioned that LEGEND HOLDING is an investment group in China, which had a strong record in building leading companies.

Its investments involve IT, financial services, modern services, agriculture and food, real estate, and chemical and energy materials.

Its notable portfolio companies include LENOVO GROUP (00992.HK) and CAR INC (00699.HK).

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend 3396

Postby winston » Mon Aug 03, 2015 2:07 pm

vested

<Research Report>G Sachs Initiates LEGENDHOLDING(03396.HK) at Neutral with Target Price $36.2

Goldman Sachs, in its report, stated that LEGENDHOLDING(03396.HK) has proven its managerial ability in the successful cases of LENOVO GROUP (00992.HK) and CAR INC (00699.HK). Its cash return on capital invested amounted to 14% to 17% in 2012 to 2014, higher than its peers.

The broker expected that its diversified investment portfolio can allow the company to be benefited from the urbanization, consumption upgrade, and other secular growth trends in China so that the established investment platforms should help it attract new opportunities.

Nevertheless, LEGENDHOLDING's share price has been close to the broker's target price ($36.2) and its valuation is quite reasonable now.

Therefore, the stock was initiated at Neutral, implying 1.28x P/B, 10.2x P/E and a 25% discount to 2015E NAV/sh of $48.3.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend 3396

Postby winston » Fri Aug 28, 2015 6:59 am

Legend soars despite profit plunge at core unit

Conglomerate Legend Holdings (3396) released its first interim results since listing in June by reporting a 209 percent leap in profit to 4.02 billion yuan (HK$4.86 billion), boosted by returns from property investment.

But it did not propose any dividend for the first half.

With businesses in IT, financial services, modern services, agriculture and food, property, chemicals and energy, the investment company saw profit at its core IT endeavor run under its flagship unit Lenovo fall 45 percent to 1.29 billion yuan from the first half of last year.

Lenovo's share of the global smartphone market shrank by 0.5 percent to 4.7 percent due to flagging demand, stiff competition from cheap domestic brands and tough South American markets.

Growth was fueled instead by the property segment.

Legend pocketed a one-off 1.59 billion yuan payment by completing and delivering a high- end multifunctional tech center, bolstering profit at its property arm by a staggering 1,941 percent to 1.73 billion yuan.

The stock soared 10.6 percent to HK$30.80.

Source: The Standard HK
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend 3396

Postby winston » Tue Sep 01, 2015 8:44 pm

vested

LEGEND HOLDING(03396.HK) Interim Profit Up 209.34%
2015/08/27

LEGENDHOLDING (03396.HK) -1.250 (-4.417%) Short selling $11.65M; Ratio 31.239% announced the first interim results after listing.

At the end of June 2015, revenue amounted to RMB142.101 billion, up 13.06% from a year earlier.

Net profit soared 209.34% yearly to RMB4,015 million. EPS was RMB2. No interim dividend was declared.

During the period, the profit contribution from the group’s property division reached RMB1,733 million, up 1,941% on a yearly basis.

Debt to equity ratio dropped from 76.3% at the end of 2014 to 60.8%.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Re: Legend 3396

Postby winston » Thu Nov 12, 2015 7:10 pm

not vested

LEGEND HOLDING(03396.HK) Interim Results Swing to Loss

LEGENDHOLDING (03396.HK) +0.350 (+1.167%) Short selling $920.86K; Ratio 9.054% announced that for the interim period as of the end of September, the profit swung into loss of US$609 million.

The LPS equaled US5.49 cents.

Meanwhile, the turnover rose 9.56% yearly to US$22.866 billion; gross profit rose 14.83% yearly to US$3.222 billion.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104517
Joined: Wed May 07, 2008 9:28 am

Previous

Return to L to R

Who is online

Users browsing this forum: No registered users and 3 guests