|Bid||45.950 x 0|
|Ask||46.000 x 0|
|Day's range||45.550 - 46.200|
|52-week range||27.500 - 49.500|
|Beta (5Y monthly)||0.59|
|PE ratio (TTM)||19.69|
|Forward dividend & yield||1.16 (2.57%)|
|Ex-dividend date||11 Mar 2021|
|1y target est||10.07|
(Bloomberg) -- HSBC Holdings Plc’s head of technology mergers and acquisitions in Asia Jeremy Choy is joining Chinese home appliances giant Midea Group Co. as its chief financial officer, according to people familiar with the matter.Midea is hiring the Hong Kong-based veteran technology dealmaker as it seeks to diversify from its traditional home appliances business. The Chinese company, which focuses on making air conditioners, refrigerators and washing machines, is looking to tap into technology-driven areas such as smart living and the so called Internet-of-Things.For his new role, Choy will be based at Midea’s headquarters in the southern Chinese city of Foshan, the people said, asking not to be identified because the appointment isn’t public yet. Choy will replace Helmut Zodl, who left Midea earlier this year to become the CFO of General Electric Co.’s health care business.An announcement could come as early as Monday, the people said. A representative for HSBC declined to comment, while a representative for Midea couldn’t immediately comment.Choy joined HSBC in June 2019 from China Renaissance Holdings Ltd., where he was the head of M&A, according to his LinkedIn profile. He previously worked for JPMorgan Chase & Co. and Goldman Sachs Group Inc.Midea’s founder and largest shareholder He Xiangjian does not hold a management role nor do his relatives -- a rare occurrence for a Chinese family-owned company.The company has grown via acquisitions including Kuka AG in 2017, in a deal that valued the German robot maker at 4.6 billion euros ($5.5 billion). That same year, it bought majority stakes in Toshiba Corp.’s home appliances business and Clivet SpA, an Italian maker of air conditioners, for undisclosed amounts.More recent deals include its 13-billion-yuan ($2 billion) purchase of Chinese appliances maker Wuxi Little Swan Co. in 2019. In December 2020, it entered the elevator business with the purchase of Winone Elevator Co. Earlier this year, it agreed to buy a 29% stake in Beijing Wandong Medical Technology Co.Choy’s move would follow those of other high-profile bankers joining large companies as CFOs. Peter Enns has joined property-casualty insurer Chubb Ltd. after more than 20 years in investment banking, most recently as global co-head of investment banking coverage at HSBC based in Hong Kong. Last year, Credit Suisse Group AG technology banker Alain Lam left the Swiss bank to join Chinese smartphone maker Xiaomi Corp.(Adds more details from sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The loans have been launched under the Government’s new mortgage guarantee scheme.
The defense team for Huawei's chief financial officer, Meng Wanzhou, will ask a Canadian court to delay upcoming hearings in her U.S. extradition case, the court said on Friday. Meng's U.S. extradition hearings have lasted more than two years and she is scheduled to be back in the British Columbia Supreme Court on April 26. A source familiar with the matter told Reuters the application was a result of an agreement announced last week in a Hong Kong court between Huawei Technologies Co Ltd and HSBC regarding publication of internal documents relating to the fraud allegations against Meng.