中金公司:H股全流通利好港交所(0388.HK)及中資券商
中金公司發表研究報告指,H股全流通將擴大港股流通市值、提升市場流動性、提升港股整體在國際指數的權重,利好港交所(0388.HK)及中資券商,而H股未流通股份在全流通後,股份減持壓力或加大,但考慮到全流通推進及股東的實際減持可能是逐步及緩慢的,相信中、長期對股價的影響較輕微。
中金公司表示,目前符合全流通條件的H股公司數量約160家,對應的可供全流通的股份市值1.64萬億港元,在約160家H股公司的總市值約67%,並佔香港市場總市值31.9萬億港元的5.1%。該行認為,H股全流通通過境內券商完成,將利好中信證券(6030.HK)、華泰證券(6886.HK)、海通證券(6837.HK)等。
該行又指,H股全流通之後,公司不同股東的權利才真正地一致,有利於改善公司治理結構,進行資本運作、股權激勵等強化股東回報的措施。中金公司認為,全流通或會利好中國電信(0728.HK)、中國鐵塔(0788.HK)、中國民航信息網絡(0696.HK)、東風集團(0489.HK)、中國通信服務(0552.HK)、國藥控股(1099.HK)及同仁堂科技(1666.HK)。
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