QINGDAO HAIER WKN: A2JM2W ISIN: CNE1000031C1 Forum: Aktien Thema: Hauptdiskussion

https://mp.weixin.qq.com/s?__biz=MzA5Mzg5MzA5OQ==&mid=2247497517&idx=1&sn=bdde3cda85c452807e44335bd9ec7f3e&chksm=90544fa9a723c6bfe6fba2f3dacd2307adfc7434b50cd64b96e7b4fc1e2aa7d16990b80f2b94&token=1203642995&lang=zh_CN#rd

Auf zu den 50€🚀🚀🚀🚀

🤣

Jetzt sind hier auch schon die Raketenmänner angekommen .....

🚀

Rakete

Werden jetzt wieder grössere Pakete gekauft oder sehe ich das falsch?

L&S als Börse (über Trade) ist leider in solchen Zeiten komplett unbrauchbar!!

Kann leider nicht nachkaufen auf Traderepublic.. -.-

Bei LS und Trafegate leider nicht. HK gerade bei -4%. Denke, wir testen heute die 2€

Mich beruhigt etwas, dass die d shares gestern ziemlich genau den Verlauf des Dax nachbilden. https://finanzen.handelsblatt.com/41192700/haier-smart-home-cod-yc1-aktie

@micha Wenn du auf free account klickst geht der Artikel auf ohne Registrierung. So wars bei mir. Aber hier der erste Teil. At current prices, the German-listed shares of Haier Smart Home trade at a ~48% discount to the otherwise-identical HK listed shares. This is by far the widest discount of its kind in the world - assuming the instruments aren't fungible.At a more typical 10-15% discount, the stock has 50-60% upside.The shares may actually become fungible in the mid-term - if this happens the gap would close completely.This opportunity exists because Haier only relisted in HK a couple of weeks ago; because (until recently) the sell-side didn't know about it; and because the German listing was a legacy failed experiment that no one paid attention to (until recently).Haier's parent company has announced a massive share purchase program, enough to acquire ~50% of all German shares out - should they execute, the discount will obviously close rapidly. This is the fattest relative value pitch I have seen in my entire career. The German listed shares of Haier Smart Home ('HSH', 690D in Frankfurt, hereafter 'D-shares'), one of the world's largest appliance manufacturers, trade at an absurd 48% discount to the HK-listed shares, despite being identical in terms of economic exposure (minus the currency denomination), with equal dividend and voting rights. Whilst they are less liquid than the HK line, liquidity is reasonable ($10mm+ per day recently); the junior listing is in another developed market and good jurisdiction (Germany), and all key disclosures are in English. And while the shares do not appear to be fungible right now, there is a clear legal pathway to fungibility outlined in the recent HK-listing prospectus; moreover there are idiosyncratic reasons to expect fungibility to be allowed at some point in the medium-term. But even if the shares NEVER become fungible, this spread for economically-identical, differently-listed exposures is by far the widest in the developed world (if not the whole world): the only similar securities are BHP (~16% discount for the UK line) and RIO (15% discount), and even these spreads only peaked at 30% in the teeth of the pandemic in March. The Haier Group, HSH's parent company, appears to recognize the insanity of this discount because it announced - on December 31st - a plan to buy back about up to 60% of the D-shares they don't already own - that is, roughly half of all D-shares outstanding. This opportunity exists because the D-shares were an orphaned security for most of the past two years (after the D-share listing failed back in 2018); because the HK listing only happened two days before Christmas, and the sell/buy-side in Asia is barely aware of it; because the sell-side is not cognizant these D-shares exist (or that they are economically identical to the H-shares, let alone potentially fungible); and because it appears some legacy Chinese shareholders of the D-shares (holders since the IPO and underwater for much of that time) are taking profits now that the stock is above IPO price (1.05). I expect the spread to tighten to 10-15% in the next few months, perhaps even tighter than that, driven by a combination of: 1) Fundamental switching by exchange-agnostic fundamental investors. The HK free float is ~$8bn today. If only 1-2% of this value switches to the German line, it would close the spread significantly (since the entire German line free float is ~$300mm); 2) Relative value accounts: this is by far the widest 'dirty arb' of this kind, that I can find, in the developed world. It is actionable, liquid, and funds itself. There is also upside from fungibility in the future. Once RV accounts know about it and understand it, I think they will pile in; 3) HSH's parent co has announced a plan to acquire up to 2% of the entire company (less 57mm shares they already bought) - entirely through the D-shares. Should they execute even partially (they have six months to do so), the spread should close significantly if not all the way. If the spread tightened to 10%, holding the HK line constant, you would see a 62% return in the German line (you can run this outright if you like, but at these relative levels I prefer the spread). Today, you can buy the D-shares at 1.94 and sell the exact same economic exposure (through the HK line) at 3.55. The HK line is incredibly liquid ($100-$150mm/day) and an easy borrow; the D-shares are less liquid but still workable ($10mm/day, maybe $5mm/day normalized). This spread is positive carry (given the funding differential in selling HKD and buying EUR; the dividend differential pays for the borrow cost) as well. As such this should be actionable for most all accounts.

Kann ich nicht lesen... brauche einen Account dafür. Kann das einer mal posten?

https://seekingalpha.com/article/4399099-haier-smart-home-ge…

Ich verstehe immer die Skepsis der Deutschen bei Aktien nicht. Kaum sind sie investiert droht überall Gefahr. Hier ist das ein Unternehmen in einem wachsenden Markt mit sehr guten Zahlen + Gap zur Asiennotierung. Klingt eher gut als schlecht.

Long die geht noch auf 4 Euro