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Its going t be very difficult for the board to just ignore these requests, not only are they coming from shareholders but government regulators too.
Copy and link article to board, more the merrier imo.
Thank you both for posting this here .
“The regulator also urged listed companies to bolster their value through share buybacks, stock purchases by major shareholders, regular dividend payouts and merges and acquisitions…”
Precisely, what we have been shouting from this messaging platform for many days!
With the right incentives in place, owners and executives should be aiming to advance share prices…..when the regulator has to remind companies of this, there must be great concern about popular discontent in the CCP.
I don’t think the HCM board is in a position to declare it has excess assets to do a buy back yet..although that is quite a likely outcome in 2026/27…..but it might see short term opportunities to buy mainland operations…..the regulatory door would appear to be open to this…and if you dont pay much premium over the hard assets acquired there is limited risk..
This is the official line, have the Hutchmed board seen this?, if so what measures are being taken in response?
"The regulator also urged listed companies to bolster their value through share buybacks, stock purchases by major shareholders, regular dividend payouts and merges and acquisitions."
https://www.reuters.com/markets/asia/china-regulator-unveils-more-curbs-short-selling-2024-02-06/#:~:text=BEIJING%2FSHANGHAI%2C%20Feb%206%20(,efforts%20to%20curb%20short-selling.
Now we have some analysis of the Frutiga results, Takeda will need to decide whether to progress to a global study…..If they do, they will need to consider the design and end points, The PFS data looks strong, with OS harder to determine. From a patient perspective PFS may be just as significant as OS
how long it will take to hear their decision?
Central Huijin said it has expanded its purchases of exchanged-traded funds linked to the country’s onshore stock markets to safeguard market stability.
China’s securities regulator has made several statements over the past few days aimed at stabilizing the market including warning against “malicious” short-selling.
https://www.cnbc.com/2024/02/06/chinas-tools-for-propping-up-its-stock-market-warnings-liquidity-boost.html
According to a statement from the China’s securities and regulatory commission, it would “guide institutional investors ... to enter the market with greater efforts.” This comes at a time where a clear lack of targeted stimulus from Beijing weighed on market sentiment.
https://www.cnbc.com/2024/02/06/asia-markets.html
What made the dead cat to jump? Trade volume of 7 million HKse. Has there been any significant news?
Twice or even double regular volume days, jumpy times for traders ..
I am beginning to fear the worst for the Amdiz study….an NDA was suggested by end 23 but there has not even been news of the results….
They should tell us the bad as well as the good news….rather than just quietly dropping it into a pipeline update….it was prominent in last year’s milestones and there is no hiding from it.
Having said that, it could just be administrative delays….the Sovlep read out was given in (august/sept?) but missed the Y/E NDA target by a short time.
Indeed, but even the very best trampolines have yet to master perpetual motion.
…it would appear so
The value of the 4 assets licensed to Inmagene is probably not counted towards their future profitability aim….the two assets (IMG 004 and 007) are shown on the Inmagene pipeline as entering Ph 2….the phase 1s ran from 2022-23. Still several years from a regular income stream for HCM
I agree with 1pencil….very difficult to achieve.
It is only CKHH that could do it…and they would need to bid for the whole company…..the NEDs and advisor roles would be critical…..as they would need to consider the fairness and reasonableness of any offer for all shareholders.
HK used to have some rules that allowed creeping takeovers without a formal offer, I am not sure if those rules still exist….but that would require CKHH to buy in the market or perhaps a buy back of shares raising their stake over time…..
CKHH has a number of listed subsidiaries and as far as I am aware has not actively bought any out. Ownership % range from 15% to 75% - It has sold /merged a few of these with other listed companies eg Orange to Mannesmann/Vodafone, HTA (3 in Australia was listed and then merged with Vodafone and then merged again recently (the listing remains), Husky Oil was merged with Cenovus.
It does have large unlisted businesses (and has traded a number of Telecoms entities recently) and I would not be surprised if at some point CKHH looked to merge HCM with another business….whether that is listed or not will depend on the potential partner (eg a PE backed entity would not be, but presumably we would get a cash offer in that case).
CKHH is a relatively benign owner it holds HCM as an investment/Finance asset and while it has supported past development it has not put more cash in for some time and has been content for its ownership share to reduce. I think they will continue with this approach and be happy with a 15%-20% stake in a larger entity in time.
HUTCHMED Announces that Inmagene Exercises Option to License Two Drug Candidates as Part of Strategic Partnership
Hong Kong, Shanghai & Florham Park, NJ — Friday February 2, 2024: HUTCHMED (China) Limited (“HUTCHMED”)
(Nasdaq/AIM:HCM; HKEX:13) today announced that, Inmagene Biopharmaceuticals (“Inmagene”) has exercised options to license two drug candidates discovered by HUTCHMED, IMG-007 and IMG-004 (the “Options”) pursuant to the terms of the strategic partnership announced on January 11, 2021. Following the exercise of the Options and subject to receipt by HUTCHMED of ordinary shares representing approximately 7.5% of shares (fully diluted) in Inmagene, Inmagene will be granted an exclusive license to further develop, manufacture and commercialize these two drug candidates worldwide.
As part of the partnership, HUTCHMED granted Inmagene exclusive options to multiple drug candidates solely for the treatment of immunological diseases. Since the execution of the Option agreement, Inmagene has funded and led two of these candidates, IMG-004 and IMG-007, to clinical development. For each of the drug candidates, IMG-004 and IMG-007, HUTCHMED is entitled to receive potential payments subject to the achievement of development milestones of up to US$92.5 million and subject to the achievement of commercial milestones of up to US$135 million, as well as royalties upon commercialization.
There are so many hurdles for that to happen it would be very hard to imagine.
The more I look at the markets the more I think those trading are really not interested in company fundamentals.
Pencil, it is just a hypothetical question.
I don’t have much knowledge about such complex topics.
Can you list an example amones ?
(It’s a trivial doubt and I want to stress that it is not specifically about any company.)
Imagine a public listed company where the management has control over majority percentage of the shares, or, held by people and firms linked to the company. Can the management make use of poor market condition and enforce a compulsory buy back of ALL shares held by private and institutional investors and go private? Will it be legally allowed to do so as per stock exchanges’ (for example LSE/ NYSE/HKSE) rules and regulations.
I know it sounds illogical. Thanks if anybody able to clarify.
HK being separate from many China regulatory bodies has some disadvantages….HK could have had Elunate several years ago…..I assume no NRDL rates apply in HK….for the time being.
A few more million in sales can be expected in 2024.
Hope one or two clever strategists working for bigger pharmas are watching today’s news as well as the pipeline.
Market reaction to what I see as positive news.
I think the main issue here now is China, teh entire market and anything Chinese is now considered univestible by most Fund Managers and the entire Chinese market is sinking, fuelled by an impending property sector collapse
Is there a similar online chat forum for HK shareholders to express their concerns and views?On an average, 3 million shares are traded daily at HKSE. What factors might be encouraging buyers over there to buy into this stock?
Has anyone received a reply from the ir department? Luckily, another weekend….
S4 has today announced a share buy back programme, shares currently up 7%