|Bid||14.320 x 0|
|Ask||14.360 x 0|
|Day's range||14.260 - 14.560|
|52-week range||10.320 - 19.200|
|Beta (5Y monthly)||0.89|
|PE ratio (TTM)||8.89|
|Earnings date||29 Oct 2020|
|Forward dividend & yield||0.35 (2.49%)|
|Ex-dividend date||04 Jul 2023|
|1y target est||21.33|
CICC Capital, a unit of leading Chinese investment bank CICC, has stopped using Capvision Partners' services, three sources said, following an investigation into the "expert network" as part of Beijing's crackdown on national security. Shanghai-based Capvision is the latest consultancy and due diligence firm to get caught in Beijing's sweeping crackdown on what state media describes as "intensifying" law enforcement push around sensitive corporate information.
Dealmakers at China International Capital Corp (CICC) will see bonuses slashed by as much as 40%, three sources said, in one of the financial sector's biggest cuts in two years since a renewed government push to narrow income disparity. Some senior dealmakers at China's third-largest brokerage by market value will see an even steeper cut of two-thirds to their 2022 bonuses, said one of the people. Wages at leading Chinese investment banks have been trending downward in the last couple of years as COVID-19 containment measures slowed dealmaking activity in the world's second-largest economy.
China International Capital Corporation ("CICC, 601995.SH, 3908.HK"), successfully held the China-Japan Finance and Economic Forum in Tokyo on 24th March, 2023. Hundreds of investors across financial areas have attended the forum.
Chinese brokerages are in a race to raise billions of dollars in capital to meet regulatory requirements, jumping on a market upturn to bolster operations as they brace for tougher competition from Wall Street banks on their home turf. Chinese equities have rebounded more than 10% on economic recovery bets since Beijing dismantled zero-COVID curbs last month, opening a window of opportunity for share issues by the brokerages. Morgan Stanley expects another 13% jump from the current level by end-2023.
Nio (NYSE: NIO) stock surged Tuesday morning as the broader U.S. market rose, and was trading 10.2% higher as of 12:23 p.m. ET. Ironically, the electric vehicle (EV) maker just got a massive price target downgrade, but investors right now appear to care less about what analysts think and more about what's happening in Nio's home market of China. On Tuesday morning, Citigroup analyst Jeff Chung slashed his price target on Nio to $41.10 per share from $87 a share, according to TheFly.com.