China architecture (33 1 1. HK) listed in Hong Kong, the full name is "China State Construction International Group Co., Ltd.", which is a third-level subsidiary controlled by China State Construction Engineering Corporation in legal relationship. China architecture (33 1 1. HK) was registered in Cayman Islands, established on June 25th, 2004, and listed in Hong Kong in July, 2005.
China Architecture 60 1668 is a stock of Shanghai-Hong Kong Stock Connect. The stock range of Shanghai Stock Connect is the constituent stocks of Shanghai Stock Exchange 180 Index and Shanghai Stock Exchange 380 Index, as well as A+H shares listed on Shanghai Stock Exchange.
China architecture (33 1 1. HK) is a stock of Hong Kong Stock Connect. The stock range of Hong Kong Stock Connect includes the constituent stocks of Hang Seng Composite Large-cap Index and Hang Seng Composite Medium-cap Index of Hong Kong Stock Exchange and A+H shares listed on both Hong Kong Stock Exchange and Shanghai Stock Exchange.
Therefore, China architecture (33 1 1. HK) is neither a listed company like China Railway and China Railway Construction, nor a red chip listed company. It has a parent-subsidiary relationship with China Architecture (60 1668). SH) "listed on the A-share market.
In terms of assets, one of the reasons why the market value of China Construction A shares is lower than its Hong Kong stock assets is the low valuation. China Construction's main business is housing construction and real estate, and its current price-earnings ratio is 5 times; The subsidiaries of Hong Kong stocks are also in the same industry. The P/E ratio of China's overseas development is 7.4 times, and China Construction International 19 times. Although the current valuation of large-cap stocks in the construction industry and even the real estate industry in the A-share market is at a historical low level, it is worth paying attention to whether there will be a revaluation of buildings in China in the context of the upcoming implementation of Shanghai-Hong Kong Stock Connect.