IPO: Beijing Futong, a mainland technology product supplier, plans to list on the Hong Kong bourse this December, seeking no less than HK$100 million.
Amber Energy (900 HK) has issued a profit warning and expected a material downturn of its financial results for the second half. The company said it might not meet the profit forecast of 62 million yuan in net profit as set out in the prospectus. The expected downturn is resulted from the insufficient supply of natural gas to power plants.
Dongfeng Motor Group Company Limited (489 HK) has recorded a monthly sales of 136,000 vehicles for October, surging 77 per cent year-on-year.
Lai Sun Development (488 HK) has recorded a net loss of HK$220 million for the period ended July, dragged down by properties investment. A net profit of HK$1.1 billion was recorded for the same period last year.
Manulife Financial Corporation (945 HK) has recorded a net loss of C$172 million for the third quarter, compared with a net profit of C$1.77 million in the second quarter. Loss per share was C$0.12. A dividend of C$0.13 per common share was declared.
New World China Land (917 HK) announced that it has been granted a 2-year HK$150 million recycling loan fund as working capital.
Smartone Telecom (315 HK) plans to spend HK$100 million to develop a 3G network in Macau. The operator said a total expenditure of HK$500 million to HK$600 million is expected this year.
Tse Sui Luen (417 HK) Jewellery said its interim net profit has plunged 60 per cent to HK$25 million for the six months ended August 31. Earnings per share were HK 12 cents. An interim dividend of HK 2 cents per share was declared.
361 Degrees International (1361 HK) plans to develop children products in the first quarter next year to broaden its sales. Its children products have led to a surprising response and contracted sales were 15 per cent higher than the company’s expectation. The company plans to open 200 branches for children products in China next year
Asia Resources (899 HK) plans to raise HK$80.70 million through placing 320 million new shares at a price of HK$0.26 each to fund an iron mine project in Indonesia and use as general working capital.
China Minsheng Banking Corporation Limited (1988 HK) starts its investor promotion today. Share prices were set at a range of HK$8.50 to HK$9.50 per share and each board lot contains 500 shares. Entry fee is HK$4797 per board lot. The bank plans to raise HK$31.54 billion through this listing.
Inspur International (596 HK) announced that it has gained a contract from China Mobile Limited (0941) on mobile integrated resources in Sichuan which worth of 11 million yuan.
Lerado Group (1225 HK) plans to issue Taiwan Depositary Receipts (TDRs). The company said it has to gain approvals and consents from different parties to complete the issuance. Details have not been finalized.
Poly (Hong Kong) Investments (119 HK) announced that its contracted sales revenue for the first ten months was 7 billion yuan. Gross floor area sold amounted to 1.1 million square meters during the period.
Value Partners Group (806 HK) announced that it has introduced Affiliated Managers Group as its strategic investor. Affiliated Managers Group has agreed to buy 5.05 per cent stake in Value Partners at a price of HK$3.45 per share for HK$279 million from chairman Cheah Cheng-hye, executive directors Louis So Chun-ki and Renee Hung Yeuk-yan.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
