On November 24, in the Hong Kong stock market trading on Monday, China Car Rental (00699.HK) hit an all-time high of 12.76 Hong Kong dollars, up 5.46% from the previous trading day.
Since the landing on the Hong Kong stock market on September 19, the stock price of car rentals in China has steadily increased, hitting record highs. Compared with the listed issue price of HK$8.5, the latest share price of China Car Rental Taxi 12.76 has increased by 50%, with a market value of HK$30.1 billion (US$3.9 billion).
The performance of China Car Rental has also been recognized by the capital market. Earlier this month, Shenzhou Car Rental was selected as a constituent of the Hang Seng Composite Index, along with four other stocks such as Wanzhou International. The change will take effect on December 8th, when mainland investors will be able to invest in China Car Rentals through the “Hong Kong Stock Connectâ€.
In the past 52 weeks, the stock price of Shenzhou Car Rental was at least HK$10, up to HK$12.76. Hong Kong's "News" last Wednesday's research data showed that China's car rental broke through the horizontal resistance, hit a new high, the performance outperformed the Hang Seng Index, and the rise is expected to end.
In addition, another car rental company in China listed the car on the New York Stock Exchange on November 18, coded "EHIC", and the issue price was $12. On the day of the listing, the stock price quickly dived after the stock began to trade, and the decline once exceeded 8%, eventually reporting at $11.7, a decrease of 2.5%. After a few days, the performance was sluggish. As of the end of last Friday's trading, the price of the $12 issue was only one point. According to this price, the current market value of a rental car is about 680 million US dollars. The market value of car rental in China is equivalent to nearly six times.
As the largest car rental company in China, the number of car rentals in China, regardless of the size of the fleet, the number of cities covered, and the number of outlets are far more than one car rental. According to the prospectus, as of June 30, 2014, the Shenzhou rental car fleet was 52,498 units, and there were 7,17 direct-operated stores in 70 cities in China (excluding service points with no physical stores) and in the remaining 162 cities. There are 202 affiliate outlets; by contrast, the rental fleet of 15,409 vehicles in the same period has 760 service points in 90 cities in China.
In addition, from the financial data point of view, in the first half of this year, China's car rental revenue was 1.86 billion yuan, and net profit was 218 million yuan. In comparison, the rental revenue of a car rental was 380 million yuan and the net loss was 20.69 million yuan. In addition, the company's third quarter net loss reached 26.9 million yuan, more than the sum of the first half.
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