01 Viewpoint: Do not make HSBC a microcosm of Hong Kong

01 Viewpoint

On Monday (3rd), HSBC Holdings announced its performance in the first half of this year, and the profit was 65%year -on -year, which was worse than the market's worst expectations. As a result, the weaker stock price collapsed again.The classic tsunami price of Yuan, closed at 33.4 yuan, became a hot story in the city.Since the financial tsunami, HSBC's myth has become increasingly losing color, but there are still many old -generation Hong Kong people or claimed to be conservative Hong Kong people who have invested funds into the company.This year, Hui Control, on the one hand, was proposed by the British bank because of the European epidemic, decided not to pay dividends this year, and on the other hand, it was involved in Sino -US wrestling.Also lost, many Hong Kong people finally woke up a truth: HSBC was not eternal.

In recent years, Hui Control's stock price has performed mediocre, and its performance is worse than the Hang Seng Index as a whole. It is laughed at the unable to run for elephants because of running a large market.But no matter how bad their performance is, some people always give up.Some of these old shareholders have held shares for many years, and they do not pursue returns only to seek interest. There are also some investors who claim to be conservative. Whenever they see the exchange control falling into a price, they want to absorb them at a low.However, I do n’t know that no matter how bad, the remittance control of the dividend is not paid. The result of the low price is that the low place is not low, and it is conservative investment, but the risks are not low at all.In the end, the trend of Hui Control made a lot of enthusiastic supporters.

Difficulty from left and right to the left and right

What's more, the problem of exchange control is not only the short -term economic downturn, but it has been involved in the long -lasting century wrestling in China and the United States.According to last year's performance, 90 % of Huishan's profits came from Asia, especially Greater China, but its headquarters was located in the UK.Originally, Hui Control took this as a pride, thinking that he was a bridge to communicate between China and the West, and advertised that he was a world -oriented international bank.However, from being accused of selling materials to the United States in the Huawei Meng Wanzhou incident, and being warned by the US Security Law of the Hong Kong District, it reflects that the policy of exchange control that has always been proud of it has gradually become dilemma in the geographical situation.Negative equity.On the one hand, it is inseparable from the Greater China in profit, but its reality that it is controlled by the United States and Britain has also made China likely to worry about it.On the other hand, the chairman denied whether to consider the relocation of Hong Kong.It can be expected that the exchange control may continue to be harmful to the mud wrestling between China and the United States.

The development of Hui control is finally determined by their management, and they need to take responsibility for shareholders.But HSBC's story is also a profound story to Hong Kong people.If it is said that HSBC and later HSBC Holdings is a brand company since Kaang, it is never an exaggeration.The glory of HSBC once became a symbol of Hong Kong, and even became part of many Hong Kong people's faith.Many Hong Kong people once had a superstition that HSBC would not fall, and it would not be wrong to buy HSBC. HSBC was going to fall in Hong Kong. It is believed that HSBC's stocks are as stable as US debt.However, reality shows that nothing is eternal.The world's changes are huge, and the success of the past does not mean future success. None of the companies can conford to say that they can never fall.It is not enough to rely on the old food. Only with the continuous pursuit of reforms with a sense of crisis, innovation can survive in waves of changes.

HSBC is the epitome of Hong Kong?

The Hong Kong government and social elites have been over -confidence in the past.Reform of deep issues such as economic resources re -distribution.In the past, the government talked about economic reforms and was always careless, and inherited the new liberal myths in the colonial era.Society also has this superstition that Hong Kong is rich enough and does not need to carry out economic reforms.When the anti -repair examples broke out last year, some people thought that the status of Hong Kong was unbreakable. China could not lose Hong Kong, and then over -confidently proposed the imagination that threatened China in Hong Kong.

To a certain degree, HSBC is a bit like the epitome of Hong Kong, which is also sandwiched between China and the West.But whether it is Hong Kong or HSBC, the loss or left and right of the moment does not mean a permanent failure. It depends on whether the person caught in it can control the challenge and turn crisis into a machine.However, when most people are intoxicated by self -satisfaction, they think that when the food is not needed to reform, it is even alarmist to laugh at others. Isn't it because the business women in Du Mu's writing do not know the hatred of the country and sing the back court.So, how far is Hong Kong's distance becoming the next HSBC?