Latest news with #MainlandChina
Forbes
3 days ago
- Business
- Forbes
More Than 1,000 Americans Per Day Earned Millionaire Status In 2024
Nearly 400,000 Americans became new millionaires last year – more than 1,000 each day – to reach a total of 24 million U.S. millionaires, accounting for some 40% of the world's total 60 million millionaire population and more than in China and Western Europe combined, according to the UBS Global Wealth Report 2025. Across the globe, over 680,000 individuals became new millionaires in 2024. After the United States, Mainland China had the second-highest number of millionaires, 6.3 million in total, and their number increased by approximately 380 people per day or 2.3% from 2023. Across the globe, more than 680,000 individuals became new millionaires in 2024 – a 1.2% uptick over 2023 – yet the number of billionaires increased only slightly to 2.9 million. Everyday MILLIonaires, called EMILLIs, with wealth between one and five million dollars, reached 52 million globally, rising more than 18% since 2019. EMILLIs hold approximately $107 trillion in total wealth, not far below the $119 trillion in assets owned by those with over $5 million in wealth. The Americas led the world in total personal wealth growth, rising just over 11% last year, as compared with less than 3% in the Asia-Pacific region and basically flat in the EMEA region. At the end of 2024, the United States holds some 35% of the world's wealth and Mainland China, owing to its large population, has about 20%, with the rest of the world making up the remaining 46%. In this UBS's 16th annual 'Global Wealth Report,' wealth is defined as the sum of all financial assets and tangible assets, such as real estate, owned by private individuals minus debts. While the U.S. leads the world in the number of millionaires, Switzerland has the world's highest average personal wealth at $687,166, compared to $620,654 in the number two United States. But then, Switzerland has about 9 million residents, as opposed to 340 million in the U.S. 5.34 million – the number of people who will join the millionaire ranks by 2029, a 9% increase over 2024. UBS economist James Mazeau said that it is still too early to tell whether U.S. household wealth will grow at a slower rate this year. 'This year could be lower than last year, but it doesn't mean we'll have a reversal of fortune and see negative wealth creation,' he told CNBC. 'I don't think the engines of growth are dead in the United States – far from it.' Despite the growth in wealth and a rapidly expanding high-net-worth target market for luxury brands, particularly in the United States, Bain and Company forecasts the global luxury goods market will shrink by as much as 5% this year, its steepest decline since the 2009 financial crisis, aside from the black swan 2020 Covid year. In 2024, the Americas accounted for some 28% of the global luxury market – $115 billion of the total $418 billion – after sales declined by 1% here. All of which proves a universal truth: people don't get wealthy by spending their money but through disciplined saving and investing. This makes the 1996 classic The Millionaire Next Door by Thomas Stanley and William Danko as relevant as ever. The U.S. Added A Thousand New Millionaires A Day In 2024: Report (CNBC, 6/19/2025) The U.S. Minted 1,000 New Millionaires A Day Last Year, UBS Report Says (CBS News, 6/19/2025)
Yahoo
5 days ago
- Business
- Yahoo
Asian Market Gems: 3 Penny Stocks Under US$1B Market Cap
As geopolitical tensions in the Middle East escalate and trade discussions between major economies continue, Asian markets are navigating a complex landscape. Within this context, penny stocks—often smaller or newer companies—remain a focal point for investors seeking growth opportunities. Despite their reputation as speculative investments, those with strong financials can offer compelling value and potential upside. Name Share Price Market Cap Financial Health Rating JBM (Healthcare) (SEHK:2161) HK$2.92 HK$2.38B ★★★★★★ Lever Style (SEHK:1346) HK$1.22 HK$769.76M ★★★★★★ Advice IT Infinite (SET:ADVICE) THB4.84 THB3B ★★★★★★ TK Group (Holdings) (SEHK:2283) HK$2.16 HK$1.8B ★★★★★★ CNMC Goldmine Holdings (Catalist:5TP) SGD0.445 SGD180.35M ★★★★★☆ Goodbaby International Holdings (SEHK:1086) HK$1.19 HK$1.99B ★★★★★★ Yangzijiang Shipbuilding (Holdings) (SGX:BS6) SGD2.30 SGD9.05B ★★★★★☆ Beng Kuang Marine (SGX:BEZ) SGD0.179 SGD35.66M ★★★★★★ BRC Asia (SGX:BEC) SGD3.14 SGD861.46M ★★★★★★ Bosideng International Holdings (SEHK:3998) HK$4.64 HK$53.16B ★★★★★★ Click here to see the full list of 1,154 stocks from our Asian Penny Stocks screener. Let's review some notable picks from our screened stocks. Simply Wall St Financial Health Rating: ★★★★★★ Overview: K. Wah International Holdings Limited is an investment holding company involved in property development and investment in Hong Kong and Mainland China, with a market cap of HK$5.93 billion. Operations: The company's revenue is primarily derived from property development in Mainland China (HK$5.91 billion) and Hong Kong (HK$540.49 million), along with property investment activities generating HK$642.97 million. Market Cap: HK$5.93B K. Wah International Holdings, with a market cap of HK$5.93 billion, derives significant revenue from property development and investment in Hong Kong and Mainland China, totaling HK$7.19 billion in 2024. Despite stable weekly volatility and satisfactory debt levels, the company faces challenges including declining earnings growth over the past year and reduced profit margins compared to previous years. Recent executive changes include appointing Mr. Francis Lui as Chairman of the Board while co-managing directors were named to guide operations forward. The board recommended a lower final cash dividend for 2024 compared to the previous year's distribution. Click here and access our complete financial health analysis report to understand the dynamics of K. Wah International Holdings. Review our growth performance report to gain insights into K. Wah International Holdings' future. Simply Wall St Financial Health Rating: ★★★★★★ Overview: UMS Integration Limited, with a market cap of SGD873.96 million, is an investment holding company that manufactures and markets precision machining components while also offering electromechanical assembly and final testing services. Operations: The company's revenue is primarily derived from its Semiconductor segment, which accounts for SGD207.51 million, followed by the Aerospace segment with SGD27.43 million. Market Cap: SGD873.96M UMS Integration Limited, with a market cap of SGD873.96 million, has shown financial resilience in the penny stock arena through its strong asset management, as short-term assets significantly exceed both long and short-term liabilities. The company benefits from a low debt-to-equity ratio and high-quality earnings despite recent negative earnings growth of -22.5%. Recent board changes aim to strengthen governance with new independent directors appointed to key committees. However, profit margins have declined from 19.2% to 16.5% over the past year, and dividends are not well covered by free cash flows, indicating potential challenges ahead for investors. Unlock comprehensive insights into our analysis of UMS Integration stock in this financial health report. Examine UMS Integration's earnings growth report to understand how analysts expect it to perform. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Beijing Watertek Information Technology Co., Ltd. operates in the information technology sector, focusing on providing security solutions and services, with a market cap of CN¥6.86 billion. Operations: The company generates its revenue of CN¥2.73 billion from the Software and Information Technology Services Industry segment. Market Cap: CN¥6.86B Beijing Watertek Information Technology, with a market cap of CN¥6.86 billion, operates in the IT security sector and faces challenges typical of penny stocks, such as volatility and unprofitability. Despite this, its short-term assets exceed both short and long-term liabilities, suggesting solid asset management. The company has reduced its debt-to-equity ratio over five years and maintains a cash runway exceeding three years if current cash flow trends persist. Recent earnings reports indicate stable revenue but increased net losses year-over-year. Management's experience averages 4.5 years, providing some stability amidst financial hurdles. Click here to discover the nuances of Beijing Watertek Information Technology with our detailed analytical financial health report. Evaluate Beijing Watertek Information Technology's historical performance by accessing our past performance report. Unlock more gems! Our Asian Penny Stocks screener has unearthed 1,151 more companies for you to here to unveil our expertly curated list of 1,154 Asian Penny Stocks. Looking For Alternative Opportunities? Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:173 SGX:558 and SZSE:300324. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Asian Market Gems: 3 Penny Stocks Under US$1B Market Cap
As geopolitical tensions in the Middle East escalate and trade discussions between major economies continue, Asian markets are navigating a complex landscape. Within this context, penny stocks—often smaller or newer companies—remain a focal point for investors seeking growth opportunities. Despite their reputation as speculative investments, those with strong financials can offer compelling value and potential upside. Name Share Price Market Cap Financial Health Rating JBM (Healthcare) (SEHK:2161) HK$2.92 HK$2.38B ★★★★★★ Lever Style (SEHK:1346) HK$1.22 HK$769.76M ★★★★★★ Advice IT Infinite (SET:ADVICE) THB4.84 THB3B ★★★★★★ TK Group (Holdings) (SEHK:2283) HK$2.16 HK$1.8B ★★★★★★ CNMC Goldmine Holdings (Catalist:5TP) SGD0.445 SGD180.35M ★★★★★☆ Goodbaby International Holdings (SEHK:1086) HK$1.19 HK$1.99B ★★★★★★ Yangzijiang Shipbuilding (Holdings) (SGX:BS6) SGD2.30 SGD9.05B ★★★★★☆ Beng Kuang Marine (SGX:BEZ) SGD0.179 SGD35.66M ★★★★★★ BRC Asia (SGX:BEC) SGD3.14 SGD861.46M ★★★★★★ Bosideng International Holdings (SEHK:3998) HK$4.64 HK$53.16B ★★★★★★ Click here to see the full list of 1,154 stocks from our Asian Penny Stocks screener. Let's review some notable picks from our screened stocks. Simply Wall St Financial Health Rating: ★★★★★★ Overview: K. Wah International Holdings Limited is an investment holding company involved in property development and investment in Hong Kong and Mainland China, with a market cap of HK$5.93 billion. Operations: The company's revenue is primarily derived from property development in Mainland China (HK$5.91 billion) and Hong Kong (HK$540.49 million), along with property investment activities generating HK$642.97 million. Market Cap: HK$5.93B K. Wah International Holdings, with a market cap of HK$5.93 billion, derives significant revenue from property development and investment in Hong Kong and Mainland China, totaling HK$7.19 billion in 2024. Despite stable weekly volatility and satisfactory debt levels, the company faces challenges including declining earnings growth over the past year and reduced profit margins compared to previous years. Recent executive changes include appointing Mr. Francis Lui as Chairman of the Board while co-managing directors were named to guide operations forward. The board recommended a lower final cash dividend for 2024 compared to the previous year's distribution. Click here and access our complete financial health analysis report to understand the dynamics of K. Wah International Holdings. Review our growth performance report to gain insights into K. Wah International Holdings' future. Simply Wall St Financial Health Rating: ★★★★★★ Overview: UMS Integration Limited, with a market cap of SGD873.96 million, is an investment holding company that manufactures and markets precision machining components while also offering electromechanical assembly and final testing services. Operations: The company's revenue is primarily derived from its Semiconductor segment, which accounts for SGD207.51 million, followed by the Aerospace segment with SGD27.43 million. Market Cap: SGD873.96M UMS Integration Limited, with a market cap of SGD873.96 million, has shown financial resilience in the penny stock arena through its strong asset management, as short-term assets significantly exceed both long and short-term liabilities. The company benefits from a low debt-to-equity ratio and high-quality earnings despite recent negative earnings growth of -22.5%. Recent board changes aim to strengthen governance with new independent directors appointed to key committees. However, profit margins have declined from 19.2% to 16.5% over the past year, and dividends are not well covered by free cash flows, indicating potential challenges ahead for investors. Unlock comprehensive insights into our analysis of UMS Integration stock in this financial health report. Examine UMS Integration's earnings growth report to understand how analysts expect it to perform. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Beijing Watertek Information Technology Co., Ltd. operates in the information technology sector, focusing on providing security solutions and services, with a market cap of CN¥6.86 billion. Operations: The company generates its revenue of CN¥2.73 billion from the Software and Information Technology Services Industry segment. Market Cap: CN¥6.86B Beijing Watertek Information Technology, with a market cap of CN¥6.86 billion, operates in the IT security sector and faces challenges typical of penny stocks, such as volatility and unprofitability. Despite this, its short-term assets exceed both short and long-term liabilities, suggesting solid asset management. The company has reduced its debt-to-equity ratio over five years and maintains a cash runway exceeding three years if current cash flow trends persist. Recent earnings reports indicate stable revenue but increased net losses year-over-year. Management's experience averages 4.5 years, providing some stability amidst financial hurdles. Click here to discover the nuances of Beijing Watertek Information Technology with our detailed analytical financial health report. Evaluate Beijing Watertek Information Technology's historical performance by accessing our past performance report. Unlock more gems! Our Asian Penny Stocks screener has unearthed 1,151 more companies for you to here to unveil our expertly curated list of 1,154 Asian Penny Stocks. Looking For Alternative Opportunities? Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:173 SGX:558 and SZSE:300324. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
6 days ago
- Business
- Forbes
China Market Update: Alibaba's AI Closer To Apple IPhone Inclusion
CLN Asian equities traded quietly overnight as investors remained cautious amid ongoing developments in the Middle East, with the US dollar strengthening against local currencies. Both Hong Kong and Mainland China opened higher but quickly faded on light volume, as value, dividend, and low-volatility factors outperformed growth stocks. Hong Kong internet stocks held up better than most, even as several growth subsectors, including biotech and EV/hybrid, saw profit-taking, with notable declines in highflyers like Pop Mart (-6.04%), Laopu Gold (-6.67%), and Mixue Group (-5.85%). Biotech stocks fell despite the National Medical Products Association's proposal to fast-track drug clinical trial approvals to 30 days. Alibaba rose 1.68% following the release of its updated Qwen3 AI model, which is believed to power Apple AI on iPhones sold in China. This development lifted Apple's ecosystem in anticipation of Apple enhancing its offerings in a key market where it has recently lost share to Huawei. Other internet stocks bucking the trend included Tencent (+0.79%), Bilibili (+0.18%), (+1.31%), and (+0.46%), while Meituan (-0.5%), KE Holding (-0.79%), Baidu (-0.18%), and NetEase (-0.58%) lagged. A potentially positive sign for internet stocks emerged as the State Post Bureau reported that express delivery revenues increased in May by 8.2% year-over-year to CNY 125.5 billion, with volume up 17.2% year-over-year to 17.32 billion packages. Yesterday's Goldman Sachs report on China's 'Prominent 10' growth stocks was widely publicized, highlighting leading names expected to benefit from a more favorable regulatory environment and AI investments. The Beijing municipal government announced an expansion of its consumer subsidy program, adding an extra 5% to the existing 15% subsidy on smart toilets, smart door locks, floor sweepers (including robotics), and garbage disposals. The program also maintains a 15% subsidy for digital products such as mobile phones, tablets, smart watches, and home appliances including refrigerators, washing machines, TVs, air conditioners, computers, water heaters, stoves, and range hoods. The rebound in Hong Kong's stock market has led to an uptick in IPOs and secondary placements, increasing overall supply. Demand for Chinese equities is growing among non-US investors, though it remains moderate, as Southbound Stock Connect volume accounted for 56% of Hong Kong volume today, the fourth consecutive day above 50%. Today's examples of increased supply include Chow Tai Fook Jewellery Group (-7.29%) after raising $1.1 billion in a convertible bond, chatter about Unitree Robotics going public, Horizon Robotics announcing a HK$4.7 billion private placement, and ride-hailing company Caocao filing for a $233 million Hong Kong IPO. Mainland-listed Lakala Payment surged 16.16% after revealing plans to relist in Hong Kong. Mainland stocks slipped slightly more than Hong Kong as the market continues its slow upward grind. A mainland media article noted the rise in consumption stocks, excluding Moutai stocks like Kweichow Moutai (+0.33%) and Wuliangye Yibin (-0.47%). It is evident that the widely held leaders from a few years ago have been replaced by tech and growth names. The Lujiazui Forum begins tomorrow, with a Shanghai-Hong Kong financial cooperation agreement widely anticipated. The Guangzhou Municipal Bureau of Commerce announced plans to 'Boost Consumption in Guangzhou,' including the complete removal of purchase, sale, and price limits for real estate, as well as reductions in down payment ratios and loan interest rates. Meanwhile, EU leaders took a tough stance on China at the G7, though it remains unclear whether this is rhetoric or reality. A recent Financial Times article titled 'China's $1.1tn asset manager becomes star player on 'national team'' discussed the $140 billion invested in Mainland-listed China ETFs by Central Huijin, the financial services arm of China's sovereign wealth fund. Some cited this as evidence of government intervention in free markets, while the article suggested the goal is to prop up the stock market. However, the intervention has not yielded the desired results: in local currency terms, the Shanghai and Shenzhen Composites remained down until the September 2024 stimulus announcement. Despite significant government efforts, the market did not respond until meaningful stimulus was introduced. One reason the 'National Team' cannot move the dial is that the market cap of mainland-listed Chinese stocks is close to $12 trillion, with a free float just over $10 trillion, making $149 billion insufficient to significantly impact the market. Alternatively, Central Huijin may simply view the mainland market as undervalued and is buying accordingly. Today is June 17th, or 6/17. As a lighthearted aside, perhaps today should be called 'Boston Day' in honor of Boston's area code, 617. Live Webinar Join us Tuesday, June 17, at 10 am EDT for: Carbon Update: EU Market Momentum & California's Legal Landscape for Investors Please click here to register New Content Read our latest article: Navigating Global Crosswinds: Carbon Markets Respond to Tariff Tactics and Executive Orders Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
Forbes
6 days ago
- Business
- Forbes
China Market Update: Growth Stocks Rebound On Strong Retail Sales
CLN Asian equities exhibited resiliency overnight despite escalating tensions in the Middle East. Both Hong Kong and Mainland China opened lower but finished higher, led by growth stocks. There was another factor rotation, as growth and momentum factors outperformed value, dividend, and low-volatility strategies. Several catalysts drove markets, with the most important being the release of economic data and the National Bureau of Statistics (NBS) press conference. Retail sales were a strong beat, while industrial production missed expectations. Real estate was a top performer in both markets after the NBS press conference concluded with a discussion on further measures needed for the sector. I remain a believer in real estate bonds over real estate stocks, given their attractive yields—currently double those of U.S. high-yield bonds—but the market remains indifferent. This week's Lujiazui Forum is focused on financial markets, and we may receive some policy guidance. Goldman Sachs released three reports on China's 'Prominent 10'—internet and growth stocks with strong revenue growth and inexpensive valuations compared to the U.S. 'Magnificent 7'—which garnered significant attention locally. The NBS press conference also highlighted the upcoming 618 (June 18) e-commerce event, underscoring the government's emphasis on online consumption. There is increased chatter about Hong Kong-listed stocks relisting in Mainland China, though it remains unclear whether internet companies can do so due to their variable interest entity (VIE) structures. I will continue to monitor this and report back tomorrow. These companies would likely be highly sought after by local investors, as brokers had a strong day. Xiaomi rose 4.23% after founder Lei Jun announced that the YU7 SUV price will be released at the end of the month. Kuaishou gained 3.45% following an analyst upgrade on Kling AI revenue. Mainland investors bought $731 million worth of Hong Kong-listed stocks via Southbound Stock Connect. Household appliances lagged despite confirmation that subsidies will continue through year-end. Trading volumes were lower compared to Friday's index rebalance. May Economic Data Highlights: Key Takeaways from the NBS Press Conference: I will continue to monitor developments, especially around the potential relisting of Hong Kong-listed stocks in Mainland China and further policy signals from the Lujiazui Forum. Live Webinar Join us Tuesday, June 17, at 10 am EDT for: Carbon Update: EU Market Momentum & California's Legal Landscape for Investors Please click here to register New Content Read our latest article: Navigating Global Crosswinds: Carbon Markets Respond to Tariff Tactics and Executive Orders Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
