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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Sinopharm Tech Holdings Limited    8156   KYG2159V1418

SINOPHARM TECH HOLDINGS LIMITED

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Vanguard sold stakes in Chinese firms sanctioned by U.S.

01/13/2021 | 12:57am EST
FILE PHOTO: People are seen at a booth of Vanguard Group at a fair during the INCLUSION fintech conference in Shanghai

HONG KONG (Reuters) - Top mutual fund firm Vanguard Group has sold its stakes in certain Chinese securities to comply with a United States ban on Americans from investing in companies it deems to have links with China's military.

In a statement Vanguard said that since Friday it had exited its positions in securities that figured on a list published on Nov. 12.

Vanguard added that it was "continuing to monitor the situation to ensure ongoing compliance with the executive order as additional securities are identified for sanction."

It gave no further details.

Confusion over the securities affected prompted a U-turn by the New York Stock Exchange last week, when it said it would delist three Chinese telecom firms.

Just days earlier it had said it would keep them listed, reversing its announcement of their delistings a week before.

Other U.S. asset managers, including BlackRock, say they have dropped Chinese securities because of the ban, and index providers MSCI Inc, FTSE Russell and S&P Dow Jones Indices have cut sanctioned firms from their benchmarks.

(Reporting by Alun John; Editing by Clarence Fernandez)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. -0.96% 735.05 Delayed Quote.1.87%
MSCI, INC. -0.60% 411.88 Delayed Quote.-7.76%
SINOPHARM GROUP CO., LTD. 0.42% 19.14 End-of-day quote.1.48%
SINOPHARM TECH HOLDINGS LIMITED -5.77% 0.245 End-of-day quote.28.95%
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Financials
Sales 2020 166 M 21,4 M 21,4 M
Net income 2020 -161 M -20,8 M -20,8 M
Net Debt 2020 144 M 18,6 M 18,6 M
P/E ratio 2020 -4,91x
Yield 2020 -
Capitalization 1 051 M 136 M 136 M
EV / Sales 2019 27,1x
EV / Sales 2020 5,83x
Nbr of Employees 213
Free-Float 51,8%
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Managers and Directors
NameTitle
Ting Chan Chairman, CEO & Compliance Officer
Kam Kin Ho Group Chief Financial Officer & Secretary
Kwai Lan Cheung Honorary Chairman
Tung Mei Chan Non-Executive Director
Yan Jie Cheng Non-Executive Director
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