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29 Apr, 2021 Author Aries PoonRebecca Isjwara
A potential slowdown in loans and continued pressure on margins amid low interest rates may dampen earnings growth at major Chinese lenders in the coming quarters, after the four largest domestic banks posted low single-digit gains in net profit in the first three months of 2021.
But there is a silver lining: the so-called Big Four reported flat or lower nonperforming loan ratios compared with the previous quarter. Analysts say asset quality will likely improve further, albeit gradually, as the world s second-largest economy has so far remained ahead of its peers in emerging from the coronavirus pandemic and Beijing has extended payment holidays for struggling borrowers to the end of 2021.
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For financial technology, you can see that . some of the largest one(s), if they re competing with the bank or insurance company, they will have a hard time, Choi told CNBC.
Last Friday, the China Securities Regulatory Commission announced a series of updated guidelines for companies seeking to list on the Shanghai s STAR market the Nasdaq-style tech board officially known as the Shanghai Stock Exchange Science and Technology Innovation Board.
One of the guidelines was that financial technology companies were banned from listing on the STAR board. Real estate and firms mainly engaged in financial services and investment businesses are prohibited from listing on the Science and Technology Innovation Board, the CSRC said in the release.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Smart Share Global Limited Announces Pricing of Initial Public Offering
Energy MonsterApril 1, 2021 GMT
SHANGHAI, China, April 01, 2021 (GLOBE NEWSWIRE) Smart Share Global Limited (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced the pricing of its initial public offering (“IPO”) of 17,650,000 American Depositary Shares (“ADSs”) at a public offering price of $8.50 per share. The aggregate offering size of the IPO is approximately $150.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “EM” on April 1, 2021. The offering is expected to close on April 6, 2021, subject to customary closing conditions.
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