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    300750   CNE100003662

CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED

(300750)
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End-of-day quote Shenzhen Stock Exchange  -  2022-08-16
547.00 CNY   +4.43%
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China stocks log fourth weekly gain after cenbank injects cash

06/24/2022 | 05:12am EDT

SHANGHAI, June 24 (Reuters) - China stocks closed up to its highest level since early March on Friday, gaining for a fourth straight week, as the country stepped up effort to stimulate a COVID-hit economy with the infusion of fresh capital into the banking system to keep liquidity stable.

The blue-chip CSI300 index rose 1.2% to 4,394.77, while the Shanghai Composite Index gained 0.9% to 3,349.75 points.

The Hang Seng index rose 2.1% to 21,719.06, while the China Enterprises Index gained 2.2% to 7,629.06 points.

** For the week, the CSI300 Index rose nearly 2%, while the Hang Seng Index added 3.1%.

** The People's Bank of China (PBOC) injected 60 billion yuan ($8.96 billion) worth of seven-day reverse repos, as demand for cash for the end of the first half of the year started to pick up.

** Global equity markets rose, as commodities including copper and oil dropped, offering a salve for inflation fears.

** Refinitiv data showed strong inflows from foreign investors, totalling more than 13.1 billion yuan ($1.96 billion) through the Stock Connect's Northbound leg.,

** Chinese battery giant CATL jumped nearly 5% as it will start mass production next year of its latest generation product, with greater efficiency that lets electric cars drive longer distances on each charge.

** New energy firms added 2.2%, while shares in defence and tourism went up more than 3% each.

** Healthcare firms listed in mainland China gained 2.9%, while peers trading in Hong Kong surged nearly 7%.

** "After a swift rebound led by the reopening theme and high-beta stocks/laggards recently, we expect the market to consolidate in the next two months on a mild economic recovery and earnings downgrades," said Meng Lei, China equities strategist at UBS Securities, as the CSI300 has risen roughly 15% since a trough in late April.

** He added market pullback in the next two months would likely provide an attractive opportunity and a more material valuation re-rating from late third quarter, when broad estimate cuts potentially come to an end.

** Tech giants listed in Hong Kong were up 4.1%, with e-commerce giant Alibaba rising 5.5% amid hints that China's technology crackdown is abating. (Reporting by Shanghai Newsroom; Editing by Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -3.11% 89.77 Delayed Quote.-24.43%
BANK OF CHINA LIMITED -0.72% 2.75 Delayed Quote.-1.42%
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 4.43% 547 End-of-day quote.-6.97%
HONG KONG HANG SENG -0.80% 19763.91 Delayed Quote.-15.25%
LONDON BRENT OIL 1.98% 95.05 Delayed Quote.20.13%
S&P/CITIC 300 INDEX -0.78% 3826.57 Real-time Quote.-14.93%
S&P/CITIC 50 INDEX -1.14% 3585.41 Real-time Quote.-14.52%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.25% 6.7992 Delayed Quote.6.83%
WTI 1.82% 89.182 Delayed Quote.15.49%
All news about CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
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Analyst Recommendations on CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
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Financials
Sales 2022 266 B 39 199 M 39 199 M
Net income 2022 21 551 M 3 178 M 3 178 M
Net cash 2022 80 147 M 11 819 M 11 819 M
P/E ratio 2022 59,8x
Yield 2022 0,11%
Capitalization 1 335 B 197 B 197 B
EV / Sales 2022 4,72x
EV / Sales 2023 3,48x
Nbr of Employees 83 601
Free-Float 48,6%
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Mean consensus BUY
Number of Analysts 27
Last Close Price 547,00 CNY
Average target price 573,88 CNY
Spread / Average Target 4,91%
EPS Revisions
Managers and Directors
Shu Zheng Chief Financial & Accounting Officer
Ying Ming Wu Chairman-Supervisory Board
Yu Qun Zeng Chairman
Kai Wu Director, Chief Scientist & Deputy General Manager
Zu Yun Xue Independent Director
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1st jan.Capi. (M$)
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED-6.97%196 875