Asm Pacific Technology (522 HK) has posted a net profit of HK$401 million for the third quarter, surging 50 per cent from a year ago. Net profit for the first three quarters amounted to HK$476 million, diving 49 per cent year-on-year. Earnings per share for the first three quarters were HK$1.21.
Bank of China (3988 HK), the country’s largest foreign exchange lender, has posted a third-quarter net profit of 21.1 billion yuan, surging 18.8 per cent from a year ago on fast growing lending and decrease in the loss of assets devaluation. It has earned 62.23 billion yuan in the first nine months, a 3.8 percent rise year-on-year. Earnings per share for the first three quarters were 0.25 yuan.
Bank of China (Hong Kong) (2388 HK) has recorded an operating profit of HK$10.6 billion for the first nine months, sliding 20.3 per cent on higher expenses caused by the settlement of Lehman minibonds saga. Including impairment losses of HK$3.24 billion generated from the settlement of Lehman minibonds saga, its operating expenses totalled HK$9.25 billion for the first nine months of the year, a 47.55 per cent increase from a year ago.
Brilliance China Automotive Holdings (1114 HK), holding 51 per cent stake in Shenyang Brilliance Jinbei Automotive Co, plans to sell the latter’s Zhonghua business which focus on producing Zhonghua-branded vehicles to parent Brilliance for 494 million yuan.
China Cosco (1919 HK) has sunk into the red and lost 690 million yuan for the third quarter compared with a year ago. Net loss for the first three quarters was 5.3 billion yuan, against a net profit of 19.7 billion yuan from a year earlier. The company expects the net profit for 2009 to sink into the red.
Sinopec (386 HK) has posted a net profit of 49.71 billion yuan, surging 230 per cent for the first three quarters compared with a year ago. Earnings per share were 57.4 fens for the first three quarters. Net profit for the third quarter amounted to 16.55 billion yuan, rising 124 per cent from a year ago.
China Resources Enterprise (291 HK) announced yesterday that it plans to sell its non-core port and textile businesses so as to focus on the consumer sector. Its port and textile businesses will be transferred to its parent China Resources (Holdings) together with HK$30 million in cash in an exchange for a hypermarket chain and a brewery.
CNOOC (883 HK), the country’s dominant offshore oil producer, has posted a 23.1 per cent year-on-year fall in revenue in the third quarter due to a 36.6 per cent slide in the average oil selling price to US$67.83 a barrel from US$106.94 a year earlier. Total revenue for the three months came to 23.76 billion yuan, compared with 30.88 billion yuan a year earlier. For the first nine months, revenues slid 33.9 per cent to 56.81 billion yuan. There is a 22.2 per cent rise in output to 525,542 barrels per day, as a large oilfield in Nigeria comes on stream.
Hutchison Telecommunications International (2332 HK) announced that it has sold 51 per cent stake in a Israel company, Partner Communications Company Ltd, to Scailex Corp for HK$10.76 billion yuan on Wednesday.
Industrial and Commercial Bank of China (1398 HK), the world’s largest lender by value, has recorded a higher-than-expected net profit of 33.595 billion yuan, surging 19.14 per cent year-on-year for the third quarter compared with a year earlier. The company attributed the gain to strong growth in non-interest income and earnings from financial investment Net profit for the first three quarters amounted to 100.019 billion yuan, a 7 per cent increase in its net profit last year. Earnings per share for the first three quarters were 0.30 yuan.
Building and engineering firm Metallurgical Corp of China (1618 HK) has posted a third-quarter net profit of 1.4 billion yuan under Chinese accounting standards. Revenue for the nine months to September was 119.8 billion yuan. The firm is not required to give comparative year-on-year data as it is newly listed in Hong Kong and Shanghai last month.
The Link Reit (823 HK) was accumulated by Australian bank at a price of HK$18.247 per share on October 16, according to the HKEx. The Australian lender has added its holdings in the Link by 2815,500 units for HK$51.37 million. The bank’s shares in the Link rise from 4.89 per cent to 5.02 per cent upon the deal.
Tsingtao Brewery (168 HK) has recorded a net profit of 615 billion yuan for the third quarter, soaring 93 per cent from a year earlier. Operating revenue for the third quarter totalled 5.63 billion yuan.
Standard Chartered (2888 HK) plans to issue India Depositary Receipt (IDR) for its listing on the India bourse as it wants to strengthen its branding and business in India. The bank is in talks with the Indian regulatory.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
