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Citigroup’s downgrade of Gree, China’s biggest home appliances maker, could cool bull run

China’s world-beating stock rally has hit another snag, after Gree Electric Appliances, the country’s biggest appliance maker, had its rating downgraded by US bank Citigroup.In a report on Sunday, the bank cut its recommendation for Gree to sell from buy, and lowered its earnings estimate by 9 per cent too, citing the company’s lacklustre 2018 earnings result and disappointing dividend payout. Citi also said Gree’s first-quarter earnings would be sluggish as industry data shows its domestic air… Source link

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Singapore 

Your right to repair: Where to repair (or recycle) your appliances in Singapore, Singapore News

As a consensus, we are all fully aware of how us, as humans, have been mistreating mother Earth and abusing the planet’s natural resources. Global warming, environmental pollution and plastic waste are giant keywords associated with saving the planet. Yet, as we partake in Earth Hour campaigns and drink from bamboo straws, another colossal threat slips under the radar. Can we make a difference by repairing our existing appliances and electronics instead of always buying new? 50 MILLION TONNES OF E-WASTE Photo: makeresourcescount.eu E-waste or electronic waste is defined as…

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Stocks Blog: Traders watching appliances, autos for clues on stimulus speculation

Good day traders. We’ll be closely covering the mainland and Hong Kong stock markets for you today. We’ll also bring you insights from experts about where sectors and companies are headed. Check back in throughout the day for updates.  — Zhang Shidong in Shanghai and Deb Price in Hong Kong   Source link

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China’s home appliances queen Dong Mingzhu stays on as chairwoman of air-con maker Gree

Dong Mingzhu, China’s “home appliances queen,” was re-elected chairwoman of Gree Electric Appliances on Wednesday, as the mainland’s most prominent female entrepreneur promised a minimum 10 per cent annualised sales growth over the next five years. Dong, 64, who has not taken a day’s leave in nearly 30 years, told a shareholders’ meeting in Zhuhai, Guangdong province, that by staying at the helm of the country’s largest air-conditioner maker it would ensure the continuity of Gree’s long-term development and that she would step down when the time comes. Facial recognition…

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China 

China to roll out new consumer spending incentives for cars and home appliances to offset trade war

China is planning to roll out a new set of incentives this year to encourage the country’s 1 billion consumers to buy more items like cars and home appliances as part of a wider effort to stabilise economic growth, a senior state planner said. The comments by Ning Jizhe, vice-chairman of the National Development and Reform Commission (NDRC), China’s top economic planning agency, followed the decision by the Central Economic Work Conference last month to expand domestic consumer spending this year to achieve “high-quality growth” and offset the impact if…

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