Shares of China Based Funeral Company Are Surging As Covid Infection Spike
  • December 27, 2022
  • Team Hongkong Journalist
  • 0

During the Covid pandemic, shares of the most significant cemeteries operator and funeral services in China hiked to their highest level in more than one year. The share price soared up to 80% in two months juxtaposing the Covid case number that hiked after withholding most of their Covid control measures.

Moreover, where the world is pestered with Covid death counts, China’s health authorities have readdressed the definition of Covid deaths, which will cover only deaths resulting from respiratory distress or pneumonia. Consequently, the Covid death counts in China are reduced in contrast to other countries. In addition, the National Health Commission of China announced over Christmas weekend that it would hold back the publication of daily infection numbers.

From April 2021, the stocks started to decrease, and the price reduction continued till October. It happened simultaneously when China was opting for strict countermeasures against Covid, followed by the controversial conclusion of the National Party Congress on its zero-Covid policy.

In November, though the shares of Fu Shou Yuan International Group were low by about 40% for 2022, they now have matched the pace for a 15% from the beginning of the year to current year profits. The mid-cap company having market capital exceeding $2 Billion, started its journey in 2013 with the help of Carlyle Group and Farallon Investors. William Conway, the co-founder of Carlyle Group, had visited one of Fu Shou Yuan’s cemeteries to finalize the purchase of shares worth $25 million.

- Published By Team Hongkong Journalist

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