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How is it possible to find out about the differences between two stocks of the same company? For instance how can I find out what the difference between SEHK:1211 and szse:002594 is?

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A little more background:

Looking at the wikipedia page for BYD (https://en.wikipedia.org/wiki/BYD_Company) I found that the company is traded as SEHK:1211 and szse: 002594. As of today the stock price for SEHK:1211 is

51.8 HKD

and

55.6 CNY

The currency exchange rate is 1CNY=1.16HKD. So the two stocks are seemingly different. Even their charts are noticeably different over a 5 year period (and it doesn't seem to be currency fluctuation).

The answer to the question For a single company listed in multiple exchanges in different countries, are the shares being offered the same? was very intersting, but it doesn't answer how to identify the differences. How would I know if the stock is an ADR? Or a Globally Registered Share? Or a dual listing?

Thanks a lot

  • A lot of times the price discrepancy has to do with voting rights or some other quasi-intangible. – quid Oct 4 '16 at 20:39
  • It's likely that a main reason for price discrepancy here is market segmentation. The Hong Kong market is more developed and open to global investors whereas the Shenzhen market consists primarily of retail investors and offers limited access to global investors. Some news that might move BYD's A-share price might not have much impact on its H-share. – xiaomy Oct 4 '16 at 21:31
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Generally, when I run across this kind of situation, I look for the Investor Relations section of the corporate website for a 'Stock Information' (or similar) tab or link. This usually contains information explaining the different shares classes, how they relate (if at all), voting and/or dividend rights, and taxation differences for the different classes.

However, I have trouble finding such a page on a central BYD corporate investor relations page. I did find this page detailing the HK1211 shares: http://www.byd.com/investor/base_information.html. I don't know what or why, but something tells me this is an older page.

Searching on, I also found this page which looks newer and clarifies that the difference you are seeing is between 'A' and 'H' shares. http://www.byd.cn/BYDEnglish/basic/article.jsp?articleId=1524676. (I'm guessing but I'd think somewhere in the announcements on this byd.cn site, you may find more details of any structural differences between share classes -- I just didn't want to page through them all.)

  • thanks, this is the kind of general answer I was looking for, although after more research I found out that the difference in stock price between A and H shares is caused by chinese market regulations, see wikinvest.com/wiki/A-Share_vs_H-Shares_in_China – ftiaronsem Oct 5 '16 at 23:10
  • @ftiaronsem - thanks for posting back that link! A very good explanation of the price discrepancy between A and H shares. – davmp Oct 6 '16 at 0:10

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