Alibaba (1688 HK) has recorded a net profit of 236 million yuan for the third quarter, plunging 20 per cent from a year ago. Earnings per share were 5.31 HK cents. Net profit for the first three quarters amounted to 732 million yuan, a 24 per cent decline compared with a year earlier. The company expected to have a sign of growth in profit next year.
Artist Empire, (789 HK) a wholly-owned subsidiary of Artini China, has entered into a license agreement with The Walt Disney Company (Asia Pacific) Limited that Disney agreed to grant Artist Empire a non-exclusive license and right to use certain material and trademarks of Disney characters owned by Disney Enterprise, Inc. for a term from December 1 2009 to November 30 2011.
Burwill Holdings (24 HK) announced that it plans to acquire 51 per cent stake in a magnetic iron ore mine in China for HK$500 million. The deal will be settled by cash payment and issue of new shares at a price of HK$0.35 each. Trading of the company resumes today.
China Nickel Resources (2889 HK) said it has completed the acquisition of Lianyungang project. If the construction work is on schedule, it is expected that the project company can commence operation in the second half of 2010 with a production volume of 32,000 tones of nickel per annum.
China Shipping Container Lines (2866 HK) and Orient Overseas International (0316) are raising shipping fees for their Asian and European routes by 7 per cent and 10 per cent respectively in order to return to the black, according to Credit Suisse.
China Zhongwang (1333 HK) has posted a HK$2.72 billion profit for the first nine months, surging 48.7 per cent on growing demand for industrial aluminum extrusion products.
Giordano International (709 HK) announced that its sales for the first nine months have plunged 12.9 per cent compared with a year ago. Gross margin for the third quarter has recovered to 52.1 per cent, 170 basis points above the same period last year.
Greenfield Chemical (582 HK) announced that its substantial shareholders have completed a 3 million share placement at a price of HK$1.5, raising HK$4.5 million in total. Shares held by the public returned to 25 per cent level as required by regulatory upon the deal.
HSBC (5 HK) said in its interim management statement that profit for the first nine months is higher-than-expected. Group chief executive Michael Geoghegan believed that businesses other than global banking and capital market will be driven by the improving demand for credit, including emerging markets like China.
Hutchison Telecommunications International (2332 HK) announced that its total customer base has risen 14.8 per cent to about 9.9 million in the third quarter, driven by growth recorded in Indonesia and Vietnam for 10 per cent and 63.3 per cent respectively. Its Vietnam operation has exceeded one million customers within six months of launch.
Rumoured has it that Meadville (3313 HK), family business of Chief Secretary for Administration Tang Ying-yen, would be bought out by TTM Technology. Trading of the company has been suspected for a week starting from October 31. Details will be announced this week at the earliest.
Semiconductor Manufacturing International Corp (SMIC) (981 HK) has agreed to settle the lawsuit with Taiwan Semiconductor Manufacturing Company Ltd. (TSMC) by paying US$200 million (HK$1.56 billion) instalments over a period of four years. In addition, SMIC has to grant to TSMC its 1.79 billion shares and a warrant to subscribe for its 700 million shares at a price of HK$1.30 per share, allowing TSMC to obtain about 10 per cent of total ownership of SMIC. The company’s founder Richard Chang will be replaced by David Wang, a director at Solar Fun Power Holdings.
Wheelock and Co says its 50.02 per cent-owned Wharf (Holdings) (4 HK) has agreed to sell its 87.5 per cent stake in a 10-year-old property in the Beijing Capital Times Square office-retail property and shareholder loan for HK$3.07 billion.
Vantage International (15 HK) announced to purchase the property, No. 157 Waterloo Road, Kowloon, for a cash consideration of HK$76.5 million. The property comprises a 2-storey house and has a gross floor area and a site area of about 5,600 square feet and 6,944 square feet respectively.
Wumart Stores (8277 HK) has recorded a net profit of 99.2 million yuan for the third quarter, surging 20 per cent compared with a year ago. Earnings per share were 0.081 yuan.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
