wait a moment

SIC2019: Dr Chan – I Foresee Shougang’s (HK: 697) Turnaround

Withdrawable trading bonus

In December last year,  the global stock market saw a rout as investors were spooked by a hawkish stance on interest rates by the Federal Reserve, coupled with uncertainty over US-China trade war. Despite the grim outlook, I shared my reasons for turning bullish in 2019 in the article “I Am Bullish For These Reasons”, at the beginning of the year.

In the article, I highlighted that investors should be optimistic about the Chinese government’s resolve to prop up its economy and stock market.  As it turns out in February 2019, both US President Trump and his Chinese counterpart Xi Jinping has shown some level of goodwill to suggest that both parties are eager to reconcile their trade differences.

For Hong Kong, I have also written that developers would continue to push out new launches that garner solid sales figures and also highlighted the high-profile restructuring efforts undertaken by Shougang Concord Grand Group (HK: 730) and Shougang Concord International Enterprises (HK: 697).

This morning, on 18 February 2019, Shougang Concord International Enterprises announced a profit alert for the upcoming FY18 results. In the announcement, management disclosed that its net profit is expected to increase 450 to 550 percent compared to a net profit of HK$57 million last year.

As previously mentioned, the group has sold off its former operations to focus on its carpark business, as well as redeveloping a plot of land in Beijing which once stood an old steel mill. This would be landmark project encompassing 8.6 million square meters of land.

Nonetheless, the latest announcement vindicated my hypothesis that Shougang Concord International Enterprises is in midst of a successful turnaround. Its share price jumped 5.5 percent at the open of the Hong Kong stock exchange.

In the upcoming SIC2019, I will share more insights about the global stock market performance. More importantly, investors will learn how to find opportunities, even when a bear market rear its ugly head.  Interested parties should get their tickets before the early bird promotion ends this week.


Our favourite GURU, Dr. Chan Yan Chong Is BACK! Best known for forecasting the peaks and troughs in the stock market cycle, Dr. Chan will share his foresight on various stock markets’ performances for this year, at Shares Investment Conference 2019! Learn from The GURU himself and chart a smooth investment journey amidst this volatile time!

Book Your Tickets Now!

*Alternatively, you may call +65 6745 8733/+65 8622 6396 or email us at [email protected] to enquire.

cfd tips