Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Sun Hung Kai Properties Limited
  6. News
  7. Summary
    16   HK0016000132

SUN HUNG KAI PROPERTIES LIMITED

(16)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Robust JD Health shines on Hong Kong debut with 56% rise

12/08/2020 | 04:39am EDT
FILE PHOTO: HKEX logo is seen in the financial Central district in Hong Kong

HONG KONG (Reuters) - JD Health International Inc made one of the strongest public market debuts for a major Hong Kong initial public offering on Tuesday, with its shares closing up 56%.

The rise gives JD Health, which specialises in online medical consultation and pharmaceutical sales, a market value of more than $40 billion.

JD Health, a subsidiary of ecommerce giant JD.com, was among the platforms offering consultation for COVID-19 symptoms at the height of China's coronavirus outbreak this year.

Kingston Securities executive director of research Dickie Wong said such a large market capitalisation should see JD Health fast-tracked into the Shanghai Hong Kong Stock Connect and Hang Seng technology index.

"Investors are thinking they don't want to wait to buy," he said. "Once the stock moves into the tech index, then index funds have to buy it no matter what they think of the company so investors are taking advantage of the likely move now."

JD Health sold shares at HK$70.58 each in its IPO, raising $3.48 billion and giving it an initial valuation of $29 billion.

The float took Hong Kong's 2020 IPO proceeds beyond $25 billion from over 100 deals, on track for the best year in a decade, Refinitiv data showed. Including secondary listings, the total stands at $39.1 billion.

Tuesday's IPO was Hong Kong's largest this year, followed by China Bohai Bank Co Ltd's $2.05 billion listing in July, and bankers expect more activity in December.

JD Health stock opened at HK$94.50 and reached $HK123.9, before closing at $HK$110, a rise of nearly 56% compared to its issue price which made it the fourth best performing IPO worth more than $1 billion in Hong Kong.

Shares in the now delisted alibaba.com closed 142% higher on its first day of trade in 2007, while Smoore International Holdings gained 139% when it listed in July and China Literature closed 89% above its issue price on its debut in 2017, Refinitiv data showed.

JD Health's shares outshone the broader Hong Kong market on Tuesday, with the Hang Seng Index closing down 0.76%, its second day in negative territory.

However, JD Health's rapid rise may make it vulnerable to a swift sell-off, Everbright Sun Hung Kai analyst Kenny Ng said.

"JD Health provides a good opportunity for profit-taking in the short term if its share price is above $HK100 since IPO investors have already got around 40% return," he said.

PANDEMIC IMPACT

The pandemic has had a "revolutionary impact" on healthcare as both patients and doctors are now more willing to seek and provide treatment over the internet, Chief Executive Xin Lijun told reporters at a briefing in Beijing.

JD Health's IPO prospectus showed a 36% on-year growth in annual active users to 72.5 million at the end of June.

Xin said JD Health might spend some of the IPO funds buying brick-and-mortar pharmacies.

"Investment is needed to bring more pharmacies and hospitals online into our system," he said.

(Reporting by Scott Murdoch in Hong Kong and Sophie Yu in Beijing; Additional reporting by Donny Kwok in Hong Kong; Editing by Kim Coghill, Christopher Cushing and Alexander Smith)

By Scott Murdoch and Sophie Yu


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -5.29% 181.88 Delayed Quote.-17.60%
CHINA EVERBRIGHT LIMITED -3.78% 8.41 End-of-day quote.-18.98%
CHINA LITERATURE LIMITED -3.99% 73.3 End-of-day quote.20.46%
HANG SENG -4.45% 25038.68 Real-time Quote.-3.77%
SMOORE INTERNATIONAL HOLDINGS LIMITED -11.35% 32.4 End-of-day quote.-45.86%
SUN HUNG KAI & CO. LIMITED -2.50% 3.9 End-of-day quote.19.27%
SUN HUNG KAI PROPERTIES LIMITED -1.31% 113 End-of-day quote.13.00%
All news about SUN HUNG KAI PROPERTIES LIMITED
07/06EC HEALTHCARE : COO Resigns; Hires Sun Hung Kai Properties Exec as Co-CEO
MT
07/05SUN HUNG KAI PROPERTIES : Didi cybersecurity probe blindsides shareholders days ..
RE
04/16Hong Kong Hang Seng Up 0.6% After Beijing GDP Report
MT
04/09SUN HUNG KAI PROPERTIES : Resignation of Executive Director
PU
04/09Sun Hung Kai Properties Limited Announces Resignation of Kwong Chun as an Exe..
CI
03/23Hong Kong Hang Seng Down 1.3% On Political Tensions, Tech Weakness
MT
03/10SUN HUNG KAI PROPERTIES LIMITED : Ex-dividend day for interim dividend
FA
02/25Sun Hung Kai Properties Limited Declares Interim Dividend for the Six Months ..
CI
02/25Sun Hung Kai Properties Limited Reports Earnings Results for the Half Year En..
CI
2020Robust JD Health shines on Hong Kong debut with 56% rise
RE
More news
Financials
Sales 2021 88 905 M 11 422 M 11 422 M
Net income 2021 30 409 M 3 907 M 3 907 M
Net Debt 2021 79 169 M 10 171 M 10 171 M
P/E ratio 2021 10,8x
Yield 2021 4,42%
Capitalization 327 B 42 097 M 42 069 M
EV / Sales 2021 4,57x
EV / Sales 2022 4,12x
Nbr of Employees 39 500
Free-Float 48,8%
Chart SUN HUNG KAI PROPERTIES LIMITED
Duration : Period :
Sun Hung Kai Properties Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SUN HUNG KAI PROPERTIES LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 113,00 HKD
Average target price 142,04 HKD
Spread / Average Target 25,7%
EPS Revisions
Managers and Directors
Ping Luen Kwok Chairman & Managing Director
Di Qi Ye Independent Non-Executive Director
Yue Chim Wong Independent Non-Executive Director
Kwok Lun Fung Independent Non-Executive Director
Ka Cheung Li Independent Non-Executive Director