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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Construction Bank Corporation    601939   CNE100000742

CHINA CONSTRUCTION BANK CORPORATION

(601939)
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Tesla Enters Loan Agreements With China Lenders for Shanghai Gigafactory

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12/26/2019 | 05:58pm EST

By Dave Sebastian

Tesla Inc. (TSLA) on Thursday said its Tesla (Shanghai) Co. Ltd. subsidiary entered into loan agreements this month with lenders in China for its Gigafactory Shanghai.

The agreements comprise a secured term loan facility of up to 9 billion Chinese yuan ($1.286 billion) and an unsecured revolving loan facility of up to CNY2.25 billion, Tesla said.

Tesla said it repaid on Dec. 20 its subsidiary's drawn amounts on an existing bridge-loan facility of up to CNY3.5 billion using proceeds from one of its new facilities.

The lenders include China Construction Bank Corp., Agricultural Bank of China Shanghai Changning sub-branch, Shanghai Pudong Development Bank Co. Ltd. and the Industrial & Commercial Bank of China Ltd.

Proceeds of the loans will be used for expenditures related to the construction of and production at the plant or to repay Tesla Shanghai's outstanding debt, Tesla said.

Tesla shares, which raced this week past the symbolic threshold of $420 a share, closed 1.34% higher Thursday at $430.94.

Write to Dave Sebastian at dave.sebastian@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AGRICULTURAL BANK OF CHINA LIMITED -1.11% 3.58 End-of-day quote.-1.90%
AGRICULTURAL BANK OF CHINA LIMITED -0.90% 3.32 End-of-day quote.-3.49%
BANK OF CHINA LIMITED 0.00% 3.3 End-of-day quote.-1.20%
CHINA CONSTRUCTION BANK CORPORATION -1.77% 6.65 End-of-day quote.-1.34%
CHINA CONSTRUCTION BANK CORPORATION -0.85% 7.04 End-of-day quote.-2.07%
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED -1.36% 5.81 End-of-day quote.-3.17%
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED -1.20% 5.77 End-of-day quote.-1.02%
SHANGHAI PUDONG DEVELOPMENT BANK CO., LTD -1.39% 12.08 End-of-day quote.-1.13%
TESLA INC. -0.58% 510.5 Delayed Quote.22.03%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.49% 6.9048 Delayed Quote.-1.36%
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Financials (CNY)
Sales 2019 681 B
EBIT 2019 491 B
Net income 2019 265 B
Debt 2019 -
Yield 2019 5,46%
P/E ratio 2019 5,55x
P/E ratio 2020 5,25x
Capi. / Sales2019 2,11x
Capi. / Sales2020 2,00x
Capitalization 1 436 B
Chart CHINA CONSTRUCTION BANK CORPORATION
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Technical analysis trends CHINA CONSTRUCTION BANK CO
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 7,44  CNY
Last Close Price 5,88  CNY
Spread / Highest target 56,7%
Spread / Average Target 26,6%
Spread / Lowest Target -5,91%
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