Bank of Communications (3328 HK), China’s fifth-largest lender, has posted a lower-than-expected net profit of 7.32 billion yuan for the third quarter in accordance with international accounting standards, edging up 1.5 per cent year-on-year. Net profit has amounted to 22.875 billion yuan for the first three quarters, rising 0.68 per cent compared with a year ago. Earnings per share were 0.47 yuan for the first three quarters.
China Coal Energy has recorded a third-quarter net profit of 1.409 billion yuan, a 35.6 per cent drop compared with a year ago. Net profit was 4.94 billion yuan for the first nine months, falling 13.88 per cent year-on-year.
China Oilfield Services (2883 HK) has recorded a net profit of 1.777 billion yuan for the third quarter, edging up 2.1 per cent from a year earlier. Net profit for the first nine months was 2.8 billion yuan, rising 2 per cent year-on-year.
China South Locomotive & Rolling Stock (1766 HK) has posted a third-quarter net profit of 413 million yuan, surging 64 per cent year-on-year. Earnings per share were 3 fens. No dividend was declared. Net profit for the first three quarters was 1.039 billion yuan, a 2 per cent decline compare with last year.
Cosco Pacific (1199 HK), Asia’s third-largest container-terminal operator, has posted a net profit of US$40 million (HK$310 million) for the first three quarters, a 48 per cent drop from a year ago. Earnings per share were HK$0.137. No dividend was declared.
Geely Automobile (175 HK) announced yesterday that its parent Geely Group is in advance talks with US carmaker Ford Motor Company over the acquisition of Volvo Car unit and Geely would be the preferred bidder of the deal.
Guangshen Railway Company Limited (525 HK) has recorded a net profit of 417 million yuan for the third quarter, rising 6.35 per cent year-on-year. Net profit for the first nine months is 1.08 billion yuan, dropping 5.08 per cent compared with a year ago. The company attributes the drop to the rising production cost as it expands.
Nine Dragons Paper (2689 HK) is seeking to rise as much as HK$2.875 billion through a top-up placing. The company is selling 236 to 250 million shares at an indicative price range from HK$10.85 to HK$11.50 per share, representing a discount of 5.6 per cent to 10.9 per cent to yesterday’s closing price of HK$12.18 each.
PetroChina (857 HK), the world’s second most valuable company, has posted a lower-than-expected net profit of 30.85 billion yuan in the third quarter, a 24 per cent drop from a year earlier as oil prices fell. Net profit for the first three quarters was 81.35 billion yuan, falling 14 per cent compared with last year. Earnings per share were 21.4 fens for the first three quarters.
Semiconductor Manufacturing (981 HK) has recorded a net loss of US$69 million (HK$540 million) for the third quarter, compared with a year earlier due to the dull market. Net income dropped 14 per cent to US$323 million (HK$2.5 billion) for the third quarter, compared with a year ago.
Sinopec Shanghai Petrochemical (338 HK) has recorded a net profit of 1.538 billion yuan for the first nine months, compared with a net loss of 2.679 billion yuan a year ago. The company had a net profit of 550.64 million yuan in the third quarter, compared with a net loss of 2.307 billion yuan in the same period last year. Earnings per share were 0.214 yuan.
TCL Communication Technology (2618 HK) has recorded a net profit of HK$14 million for the third quarter, surging 45.66 per cent year-on-year. The company attributes the increase in net profit to the rising competitiveness after its restructuring.
TCL Multimedia Technology (1070 HK) has recorded a profit of HK$230 million for the first nine months, compared with a net loss of HK$255 million a year ago. Its net profit for the third quarter was HK$87 million. Earnings per share were HK 22.68 cents. No third-quarter dividend was declared.
Yanzhou Coal Mining (1171 HK) has posted a 1.12 billion yuan net profit for the third quarter, diving 61.3 per cent year-on-year. Net profit for the first three quarters is 3.03 billion yuan, plunging 54.7 per cent compared with last year. The company’s cost of production has surged 24 per cent, according to Morgan Stanley.
Zijin Mining (2899 HK) has posted a net profit of 960 million yuan for the third quarter, climbing 15 per cent from a year ago on soaring sales. Net profit surged 12 per cent to 2.89 billion yuan for the first three quarters. Earnings per share were 19.9 fens for the first three quarters.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
