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On April 10th, a spokesperson for the China Securities Regulatory Commission (CSRC) answered reporters questions regarding the "Opinions on Deepening the Reform of the ChiNext Market to Better Serve the Development of New Productive Forces." The spokesperson mentioned that, regarding refinancing, to meet the needs of growth-oriented innovative and entrepreneurial enterprises that have long R&D cycles and high requirements for the flexibility and timeliness of fundraising, the CSRC will promote the implementation of the shelf registration system for refinancing on the ChiNext market, allowing for "one-time registration, multiple issuances." At the same time, the CSRC will improve the simplified refinancing procedure system, simplify company decision-making procedures, and improve refinancing efficiency. Regarding mergers and acquisitions (M&A), the CSRC will fully leverage the positive role of M&A in promoting industrial integration and transformation and upgrading, and continue to promote the implementation of the "Six Measures for M&A" on the ChiNext market.On April 10th, a spokesperson for the China Securities Regulatory Commission (CSRC) answered reporters questions regarding the "Opinions on Deepening the Reform of the ChiNext Market to Better Serve the Development of New Productive Forces." The spokesperson mentioned optimizing the trading system. This includes introducing a market maker system to promote the diversification of participants and trading strategies in the ChiNext market, reduce price volatility, and enhance market resilience. Negotiated block trades will be adjusted to real-time confirmation, improving the efficiency of investors securities and capital utilization, enhancing transaction certainty, and increasing the willingness of medium- and long-term funds to participate. An after-hours fixed-price trading mechanism for ChiNext-related ETFs will be introduced to better meet the diversified trading needs of investors and help reduce the impact of large transactions on the secondary market.S&P: War will indirectly impact Asian insurance companies through market volatility.The Hang Seng Index closed up 141.14 points, or 0.55%, at 25,893.54 on Friday, April 10; the Hang Seng Tech Index closed up 38.59 points, or 0.8%, at 4,860.26; the H-share Index closed up 43.21 points, or 0.5%, at 8,655.04; and the Red Chip Index closed up 31.31 points, or 0.74%, at 4,287.51.On April 10th, a spokesperson for the China Securities Regulatory Commission (CSRC) answered reporters questions regarding the "Opinions on Deepening the Reform of the Growth Enterprise Market (GEM) to Better Serve the Development of New Productive Forces." The spokesperson stated that this reform adds a fourth set of listing standards for the GEM, combining growth and innovation indicators such as compound annual growth rate of revenue and R&D investment with market capitalization and revenue indicators to better support high-growth potential and outstanding innovation capabilities of high-quality enterprises. Specifically, there are two indicators: First, "expected market capitalization of not less than 3 billion yuan, operating revenue of not less than 200 million yuan in the most recent year, and a compound annual growth rate of revenue of not less than 30% in the past three years," primarily applicable to companies in emerging industries; second, "expected market capitalization of not less than 4 billion yuan, operating revenue of not less than 200 million yuan in the most recent year, and cumulative R&D investment of not less than 100 million yuan in the past three years, accounting for not less than 15% of revenue," primarily applicable to companies in future industries.

Berkshire Hathaway Discloses A Stake in HP; Shares Soar Almost 10%

Haiden Holmes

Apr 07, 2022 10:23

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HP shares increased 9.9 percent to $38.38 in after-hours trading on Berkshire's disclosure of the interest in SEC filings.


HP, headquartered in Palo Alto, California, has about 1.06 billion outstanding shares as of Jan. 31.


HP and Berkshire Hathaway did not immediately reply to calls for comment.


HP is Berkshire's third significant investment since Feb. 26, when Buffett said in his annual shareholders letter that "internal prospects provide far higher returns than acquisitions" and that stock markets "excite us little."


Berkshire agreed to acquire insurance business Alleghany (NYSE:Y) Corp for $11.6 billion in cash on March 21, bolstering its portfolio of insurers, which already includes Geico.


Berkshire previously disclosed a 14.6 percent position in Occidental Petroleum Corp (NYSE:OXY), a holding that cost well over $6 billion to acquire.


Buffett had gone six years without making a significant acquisition, leaving Berkshire with $146.7 billion in cash and equivalents. Buffett has vowed to maintain a cash reserve of at least $30 billion.


Berkshire did not specify whether the HP share is owned by Buffett or his portfolio managers Todd Combs and Ted Weschler, despite the fact that Buffett typically manages bigger assets.


Buffett is primarily responsible for Berkshire Hathaway's position in Apple Inc (NASDAQ:AAPL), which he refers to as one of the "Big Four" firms that account for the majority of the value of his Omaha, Nebraska-based conglomerate.


Berkshire's insurers, the BNSF railroad, and Berkshire Hathaway (NYSE:BRKa) Energy round up the "Big Four."

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