More than 150,000 wage earners benefit from HSBC Hang Seng minus MPF charges

More than 150,000 wage earners benefit from HSBC Hang Seng minus MPF charges

HSBC and Hang Seng Bank (011) again reduced the MPF management fee from 1.35% to 1.3%. HSBC Hong Kong Retirement Supervisor Ye Shiqi said that the adjusted fee will be lower than the median market. It is expected that about 150,000 “wage earners" will benefit from the approval of the relevant regulatory authorities and is expected to take effect on July 1.

Ye Shiqi pointed out that the HSBC MPF “Optional Plan" will be incorporated into the “Smart Choice Scheme". After the merger, there will be 20 constituent funds to choose from. At the same time, the management fees for European equity funds and North American equity funds will be lowered, from 1.35% of the annual net asset value to 1.3%, and the two funds will be about 7 billion yuan, involving 150,000 members. Instead, the bank has lowered the fund management fee for the seventh time since 2007, and last adjusted to December 2017. However, he does not comment on whether it will trigger the inter-bank price reduction and whether it will lower the charges. However, it is reminded that members of the public should consider whether their retirement reserve is sufficient. The proportion of MPF contributions in Hong Kong is still lower than that of overseas. In addition, Hang Seng will also reduce the management fees of the European Equity Fund and North American Equity Fund under the “Smart Choice Scheme" from July 1st, from 1.35% of the annual net asset value to 1.3%. However, the number of customers benefited was not disclosed.

Shenzhou earned 5.4 billion last year

Shenzhou International (2313) last year’s net profit of 4.54 billion yuan (RMB, the same below) (about 5.4 billion Hong Kong dollars), up 20.7% year-on-year, sales increased 15.8% to 20.95 billion yuan, the final dividend of 0.9 Hong Kong dollars, an increase of 20% . The stock index said that the new garment factory in Vietnam will be recruited and put into production in batches in the second quarter. It is also expected that the new garment factory in Cambodia will start production in phases by the middle of next year.

Longhu dividend increased by 46%

Longhu Group (960) earned 16.24 billion yuan (about 19.3 billion Hong Kong dollars) last year, up 28.9%, core profit rose 31.5% to 12.85 billion yuan; income was 111.8 billion yuan, up 60.7%; final interest rate was 0.69 yuan, 45.9% . CEO Shao Mingxiao said that this year’s sales target is about 220 billion yuan, and it is expected that core earnings will maintain a 20% growth in the next two to three years.

In addition, Vanke’s (2202) net profit last year was 33.77 billion yuan (about 40.21 billion Hong Kong dollars), up 20.4% year-on-year; turnover rose 25.2% to 297.08 billion yuan; the final dividend was 1.07 yuan per share, 18.9% more.