Image source: 搜狐

1.HCoin Takes off Again, Hpay May Come Soon

The price of hi-coin has taken off again this week. As of Friday EST, the price of hi coin reached a high of 49 and is about to hit the 50 mark. The U.S. East Friday night Hpay will undergo massive upgrade maintenance, and Hpay may be officially launched before the Lunar New Year. As Miles Guo said, a Canadian war veteran has already used HCoin to buy a private jet successfully. It is believed that after hi payment goes live, the freedom of luxury cars for war veterans may no longer be a dream. With the Federal Reserve announcing that it can work with private stablecoins, the digital currency world cargo ushered in a sea change. Today, before institutional investors have officially entered the market, HCoin has demonstrated its technical solid power, stability, and legitimacy to the world.

Note: The value of HCoin and its prediction are only personal opinions. Investment should be cautious.

2.A-Share Bull Year Finale: Bull Year a Shanghai Index down 8%

January 28, A shares ushered in the last trading day of the bull year. This year’s A-share market can be described as “bull-headed rat tail,” the first trading day of the year that is the highest point of the year. Today, the last trading day of the bull year, to close the market close to the low end of the year. In addition, the A-share blue-chip index SSE 50 CSI 300 two indexes fell more than 20% for the year. Friday morning, the three major indices once a slight rebound, the end of the day again weakened. Communications, digital currency, farming, and other sectors are active on the plate. The tourism sector set off a wave of stops. Overall, the stocks rose more than fell less, the two cities more than 3,200 shares rose, the money-making effect is better. SSE index bull year (February 18, 2021 – January 28, 2022) annual decline of 8.03%, the deep into the bull year (February 18, 2021 – January 28, 2022) cumulative decrease of 16.5%, GEM index bull year (February 18, 2021 – January 28, 2022) fell 14.79%.

3.CCP Suspended the Review of 60 IPOs in Total

The China Stock Exchange has halted reviewing at least 60 initial public offerings (IPO) applications as the China Securities Regulatory Commission investigated intermediaries, including Zhongde Securities. On the 26th of this month, the review status of a total of 61 projects on the Growth Enterprise Market (GEM) and the Science and Technology Venture Exchange (STEM) was changed to suspended, according to Wind data cited by Punch News. There are 12 projects on KCI and 49 projects on GEM. After sorting out, 59 of these 61 projects were related to three sponsors, including Zhongde Securities, Beijing King & Wood Law Firm, and Sino-permanent accounting firm. According to the report, the widespread review suspension may be related to the case.

4.Hopson Shares Plunge 31% as PwC Resigns as Its Auditor

At the morning opening of Hong Kong stocks on the 28th, Hershey Group opened at HK$16.34, unchanged from yesterday’s closing price. After that, Hutchison’s share price once dived to a low of HK$11.2, down 31.45%, and its total market value fell to HK$26.6 billion. As of press time, Hutchison was quoted at HK$13.14, down 19.58%; total market capitalization was about HK$31.2 billion. In terms of news, on the evening of January 27, Hopson announced that as the Company and PricewaterhouseCoopers failed to reach a consensus on the audit fees for fiscal 2021, PricewaterhouseCoopers was informed on January 20, 2022, that the board of directors had passed a resolution requesting PricewaterhouseCoopers to consider resigning as the Company’s auditor for fiscal 2021. In this announcement, Hutchison said that given PwC’s inability to plan and perform the corresponding audit procedures on material matters such as the accounting treatment of certain equity investments and property projects of the Group and the valuation of the Group’s investment properties, it agreed to its resignation as auditor of the Company with effect from January 27.

5.Cai Esheng, vice Chairman of CBRC, Was Expelled from the Party

Recently, with the approval of the CCP Central Committee, the State Supervisory Commission of the Central Commission for Discipline Inspection (CCDI) has conducted a file review and investigation into the disciplinary severe violations and violations of law by Cai Esheng, a former member of the Party Committee and Vice Chairman of the China Banking Regulatory Commission. After investigation, Cai Esheng lost his ideals and beliefs, abandoned his original mission, completely metamorphosed politically, disloyal and dishonest to the Party, engaged in two-faced, two-faced people, abused his financial supervision power, seriously disrupted the order of the financial market, seriously polluted the political ecology of the financial sector, confronted the organizational review; ignored the spirit of the eight provisions of the Central Committee, extravagant and corrupt, illegally accepted gifts and gratuities, accepted banquets, travel and activities that may affect the impartial execution of official duties. He disregarded the spirit of the Eight Provisions of the Central Committee, took gifts and gratuities, got banquets, travel and golfing arrangements, repeatedly violated the rules of access to private clubs; indifferent to the concept of an organization, did not report personal matters under regulations; he was a man of little integrity and shame, engaged in power and money transactions; improperly performed his duties, interfered in administrative licensing matters in violation of the rules; he was undisciplined, “retired but not retired,” and worked against the wind, using his position to facilitate and influence He used the convenience and influence of his position to benefit others in financing and loans, project contracting and job promotion, and illegally received large amounts of money and property.

6.Unicom’s License to Operate in the United States Was Revoked

The Federal Communications Commission (FCC) stated on January 27 announcing the revocation of China Unicom (Americas) Operations Limited’s authorization to provide interstate and international communications services in the United States. The revocation order directs China Unicom (Americas) to cease any domestic or international services it offers in the U.S. within 60 days of the order’s issuance. This is the latest move by U.S. regulators to prohibit Chinese telecommunications carriers from operating in the United States.

The FCC’s statement said, “Based on comments from the Department of Administration, a thorough review of the company’s responses in this proceeding, the public record, and the FCC’s public interest analysis under the law, the Commission finds that today’s action safeguards the nation’s telecommunications infrastructure from potential security threats. “In March 2021, the FCC found that China Unicom (Americas) had failed to address serious concerns about its reservation of authority to provide telecommunications services in the United States,” the statement said. As a result, the Commission adopted procedures that allow China Unicom (Americas), the Departmental Agencies of the Administration, and the public to present any remaining arguments or evidence on this issue. Today, based on the FCC’s public interest analysis and the extensive record, the Commission finds that it is no longer in the present and future public interest, convenience, or necessity for China Unicom (Americas) to retain its Section 214 authority. “

7.Xiaomi Broke Again, Market Value Evaporated 470 Billion Yuan

On the 28th, Xiaomi Group’s share price dipped again following yesterday’s break, once falling at 3.5% during the day, with the share price dipping to 15.88 yuan, while the stock price set a new lowest in nearly 17 months. As a result, the current market capitalization has evaporated HK$478.9 billion from the highest value, and the share price has fallen 54% from the highest value. In tandem with the poor performance of the stock price, Xiaomi has been troubled since last year. At the start of last year, the U.S. government blocklisted nine Chinese companies on a so-called “China military-related” list, including cell phone maker Xiaomi and aircraft maker COMAC. According to the relevant investment ban, U.S. investors need to sell their shares of the “blacklisted” companies by November 11 of that year. As a result, Xiaomi’s shares plunged after the Hong Kong stock market opened at the time.

On the evening of January 5 this year, Xiaomi was rumored to be the Indian Ministry of Finance to pay 6.53 billion rupees in taxes. In this regard, Xiaomi responded to reporters that Xiaomi adheres to legal compliance in the global scope of business and complies with the relevant laws and regulations of the place of business. Xiaomi said that the Indian authorities asked Xiaomi to pay back the tax on imports related to royalties between April 1, 2017, and June 30, 2020, which is not related to Xiaomi’s recent business. The official statement is not clear about the final result. The negative news also challenges Xiaomi’s performance. In the third quarter of 2021, Xiaomi achieved revenue of 78.06 billion yuan, up only 8.2% year-on-year; adjusted net profit of 5.18 billion yuan, up 25.4% year-on-year. Meanwhile, the news of Xiaomi’s car-making is still fresh in our ears. In March last year, Xiaomi Group announced that the company intends to set up a wholly-owned subsidiary responsible for the intelligent electric vehicle business. The first investment phase is RMB 10 billion, with an expected investment of USD 10 billion over the next ten years. Lei Jun, the group’s CEO, will also be the CEO of the intelligent electric vehicle business.

8.100 Billion Real Estate Company Chongqing Dongyuan Industr Shares Suddenly Fell to a Halt

28, another industry ranking of the top twenty hundred billion housing companies Chongqing Dongyuan Industr shares suddenly fell, a day after the company’s bonds fell sharply by 27%. There was a temporary suspension of trading. Yesterday a video of the company being impacted by debt collectors fermented and circulated online, the company responded urgently through the interactive platform at noon on the 28th, saying that the video spread was related to the company’s general contract construction projects, the company is fully cooperating with the available contract settlement, which involves the wages of migrant workers are all fully paid into the particular account, the company and its subsidiaries have not been overdue so far. 2021 three quarterly reports, the total debt of Chongqing Dongyuan Industr shares The total liabilities of Chongqing Dongyuan Industr reached 315.9 billion yuan, excluding the pre-receipt liabilities also still exceeded 170 billion yuan. On January 21, the Shenzhen Stock Exchange issued a letter of concern to JinkoSolar, requesting to explain any circumstance to avoid the shareholders’ offer obligation by releasing the unanimous action relationship and asking for a reply and disclosure by 26 days. Still, no reply has been seen so far.

9.Evergrande May Face Asset Sale Restructuring

Evergrande’s shares plunged again on Thursday on the Hong Kong Stock Exchange after investors were upset by its plan to restructure its foreign debt. At the same time, the Federal Reserve’s (FED) discussion of an interest rate hike also sent shares of other debt-ridden Chinese real estate companies slumping because the rise in interest rates will increase the cost of financing these companies abroad. As China’s officials began to overhaul the real estate sector last year, restricting real estate developers from borrowing and forcing them to reduce debt, mainly to crack down on the “three highs” of high leverage, high debt, and high turnover, real estate giants such as Evergrande quickly fell into a cash flow crisis, with many huge debts unable to be paid on time and even forced to cross-default.

Evergrande plunged 9.6% in early trading on the Hong Kong Stock Exchange on Thursday before narrowing its decline. It closed at HKD1.71, down 3.4%. Evergrande said Wednesday it was prepared to issue a global restructuring plan within six months that respects creditors’ legal rights abroad. Evergrande promised in a conference call with offshore creditors that the restructuring plan would comply with laws and regulations and also respect the rights of bondholders and, in some cases, those rights would include the right to claim the company’s assets that are pledged offshore, the Wall Street Journal said, citing people familiar with the matter. Evergrande also said that Hui Ka Yan, the company’s founder and chairman of the board, may provide further financial support to the company.

But since Evergrande did not talk about any details about that restructuring plan during the conference call, it could not appease investors’ concerns, thus causing Evergrande’s share price to slump further on the Hong Kong Stock Exchange. Meanwhile, the Federal Reserve held its first meeting of the New Year on Wednesday, and in addition to keeping the benchmark interest rate unchanged at 0.25%, it also hinted at a rate hike at its meeting in mid-March. If put into action then, it would mark the Fed’s first rate hike in three years, and the implications for the U.S., and indeed the global economy, would be significant. In addition, Chinese real estate companies that rely on overseas financing to get by will also be in new distress because of higher financing costs.

10.Tencent Intends to Privatize Douyu

Tencent plans to privatize Douyu, according to two sources familiar with the matter. According to the sources, Tencent wants to work with at least one private equity firm to complete the deal and is currently in talks with investment banks. Tencent is the largest shareholder of Nasdaq-listed Douyu, holding a 37 percent stake in the company. One of the sources said that Tencent plans to close the deal this year. Douyu, one of Tencent’s leading game marketing platforms and China’s second-largest video game streaming site, has been discussing its business strategy after Tencent’s plan to merge it with bigger rival Tiger line was blocked by regulators last July on anti-monopoly grounds. Tiger is also listed on the U.S. stock market on Wall Street in New York. According to the sources, the privatization plan reflects Tencent’s desire to keep a firm grip on its core gaming affiliates as it faces a series of regulatory issues. They added that Douyu’s shares had slumped 60 percent since July, making its market value $717 million, meaning that the price is attractive for a privatization deal.

【G Translators- Financial Team】
Translator: Totoro