HSBC management met with shareholder Fang Guoshan's announcement to attend the "appeal briefing" of a retail investor organization

HSBC Holdings (0005) announced its interim results yesterday. An informal meeting of shareholders in Hong Kong will be held in the afternoon of Tuesday (2nd). It is expected to pay dividends, relocate headquarters and shareholder Ping An Insurance (2318) proposed a spin-off plan to list its Asian business independently. focus.

Du Jiaqi, Qi Yaonian, etc. attended

HSBC's management attended was very important, including HSBC Group Chairman Du Jiaqi, HSBC Group Chief Executive Officer Qi Yaonian, Chairman of The Hongkong and Shanghai Banking Corporation Wang Dongsheng, Co-Chief Executive Officer of The Hongkong and Shanghai Bank Liu Yijian, and Hongkong and Shanghai Bank Chief Executive Officer Lin Huihong.

On the other hand, retail investors also attach great importance to it. Saigon District Councillor Fang Guoshan, representing about 500 minority shareholders of HSBC, said that he would attend.

At the same time, some retail investors announced that they would hold a "Group of HSBC Hong Kong Minority Shareholders' Appeals Briefing Session", stating that the minority shareholders will finally have an opportunity in the past few years to tell HSBC and the society the "predicament and expectations" of the minority shareholders, and invite the media to interview.

Experts have polarized views on spin-offs

Talking about the spin-off plan proposed by Ping An, Fang Guoshan told the media that he would support Ping An in obtaining a seat on the board of directors of HSBC, thereby promoting the relocation of HSBC to Hong Kong.

She also said that because she was worried that the United Kingdom would order the suspension of dividends again, she believed that HSBC should take Hong Kong as its development center.

Li Huifen, executive director of Global Group Securities, also supports HSBC's spin-off of its Asian business.

She believes that the performance of HSBC's business in Hong Kong is quite satisfactory, but the performance of its European and American businesses is relatively poor, dragging down the overall stock price. If the business in Hong Kong and the mainland is split, it can become a driving force for the stock price to rise.

In this regard, Wen Jie, head of KGI Asia's investment strategy department, holds the opposite opinion. He pointed out that due to the high cost of money and time involved in the spin-off plan, there is little chance of realization.

He believes that a successful spin-off will have adverse effects on HSBC as a whole, such as weakening its global advantages, diversifying its assets and businesses, and affecting its loan weighting.

And Qi Yaonian also mentioned at yesterday's investor meeting that after appointing independent financial and legal advisers to study the feasibility of changing the group's structure, he found that the plan would do more harm than good to shareholders, and it may involve a lot of costs, including financing. cost and execution and decision-making costs, so the current structure can add value to shareholders in the safest case.

Qi Yaonian said the spin-off was "more harm than good".

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