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    600519   CNE0000018R8

KWEICHOW MOUTAI CO., LTD.

(600519)
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End-of-day quote Shanghai Stock Exchange  -  2022-08-16
1918.00 CNY   +0.01%
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China stocks log best month in 2 years on recovery hopes, easing COVID curbs

06/30/2022 | 04:58am EDT

SHANGHAI, June 30 (Reuters) - China stocks marked their best month in nearly two years on Thursday, supported by signs of an economic recovery after the easing of COVID-19 restrictions.

** However, in Hong Kong, the benchmark Hang Seng Index slipped 0.62% to 21,859.79 points at close, while Chinese H-shares listed in Hong Kong edged down 0.36% to 7,666.88 points. ** By the end of the session, Shanghai Composite index rose 1.1% to 3,398.62 points, while blue-chip CSI300 index gained 1.44% to 4,485.01 points. Both indexes recorded their biggest monthly gains since July 2020.

** Gains across the board came as official data showed that China's factory and service sectors snapped three months of activity decline in June, as authorities lifted a strict COVID lockdown in Shanghai, reviving output and consumer spending.

** China's central bank needs to keep cuts to interest rates and banks' reserve requirement ratio among its policy options while waiting for the economy to bounce back, said Guan Tao, a former senior official at the country's foreign exchange regulator.

** Analysts said hopes for more stimulus measures, including monetary easing, continued to lend support to markets. "In the early stage of economic recovery, regardless of the pace of growth, monetary policy at least favours an easing bias," said Zhang Jingjing, chief macro analyst at China Merchants Securities. ** The latest easing of coronavirus travel rules combined with other encouraging policy signals have begun to lure some foreign investors back to Chinese stocks, raising the chances that the market can sustain its bounce after months of heavy selling.

** Official data showed that foreign investors bought 139.15 billion yuan ($20.79 billion) of China stocks this month through the Stock Connect scheme, the most this year.

** Tourism and liquor sectors were among the biggest winners as easing coronavirus restrictions boosted investor sentiment. An index tracking tourism-related companies jumped 4.1% at close. ** CSI liquor, a gauge that measures the performance of spirits producers, rose 3.74% on Thursday. Wuliangye Yibin Co Ltd jumped 5.17% to 201.93 yuan, while Kweichow Moutai surged 1.83% to 2,045 yuan at the close.

($1 = 6.6946 Chinese yuan)

(Reporting by the Shanghai Newsroom; Editing by Sherry Jacob-Phillips and Amy Caren Daniel)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
KWEICHOW MOUTAI CO., LTD. 0.01% 1918 End-of-day quote.-6.44%
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) 0.31% 6.80315 Delayed Quote.6.83%
WULIANGYE YIBIN CO.,LTD. 0.55% 176.2 End-of-day quote.-20.87%
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Financials
Sales 2022 128 B 18 858 M 18 858 M
Net income 2022 62 583 M 9 229 M 9 229 M
Net cash 2022 211 B 31 130 M 31 130 M
P/E ratio 2022 38,5x
Yield 2022 1,34%
Capitalization 2 409 B 355 B 355 B
EV / Sales 2022 17,2x
EV / Sales 2023 14,5x
Nbr of Employees 29 971
Free-Float 38,4%
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Mean consensus BUY
Number of Analysts 31
Last Close Price 1 918,00 CNY
Average target price 2 339,89 CNY
Spread / Average Target 22,0%
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Managers and Directors
Jing Ren Li Director
Gang Liu CFO, Chief Accountant & Deputy General Manager
Ya Lin You Chairman-Supervisory Board
Xiong Jun Ding Chairman
Jin Hai Lu Independent Director