ASM Pacific Technology (522 HK) said its pre-tax net profit for the first nine months was HK$453 million. Earnings per share were HK$1.21. The company may give a higher dividend this year after considering its cash flow.
China Kangda Food (834 HK) said the group might report a lower unaudited net profit for the first nine months compared to the corresponding period last year. The decline is attributed to a decrease in demand for rabbit meat in the European Union and a decrease in sale orders for processed food from customers in Japan following the global economic downturn. More, due to keen competition, there is an excess supply of chicken meat products in the PRC domestic market.
China Merchants Bank (3968 HK) has recorded a net profit of 13.078 billion yuan in accordance with the PRC’s accounting standards for the first nine months, sliding 31.16 per cent from a year ago. Earnings per share were 0.68 yuan. The lender had a net profit of 4.816 billion yuan in the third quarter, falling 16.3 per cent compared with the same period last year.
China Unicom (Hong Kong) (762 HK) said its net profit for the first nine months was 9.338 billion yuan. The company has a net profit of 2.7 billion yuan in the third quarter, beating forecast. Earnings per share were 0.39 yuan.
ESun Holdings (571 HK) announced that East Asia Satellite Television, its non-wholly owned subsidiary, has commenced legal proceedings in Hong Kong against its joint venture partner, New Cotai, and others, seeking damages of approximately HK$689 million for breaches of the sale.
Henderson Land (12 HK) said it is in talks over several acquisitions of old buildings for redevelopment in order to boost land reserve. Henderson Land would spend HK$6 billion and its land reserves would be increased by 3 million square feet if these acquisition plans were confirmed.
Zhongyu Gas (8070 HK) has recorded a net profit of HK$40.123 million for the first nine months, rocketing 53 times compared with a profit of HK$744,000 a year ago. Earnings per share were 2.0746 HK cents. No third-quarter dividend was declared.
Asia Cassava Resources (841 HK) plans to place 60 million shares to seek HK$106.7 million at HK$1.88 per share, a 16.8 per cent discount to its closing price of HK$2.26 on Friday. The proceeds will be used for general working capital.
China Botanic Development (2349 HK) announced that it has agreed to buy Hubei Fucheng Property Development Limited for 200 million yuan to develop a property project in Wuhan of Hubei province. Meanwhile, the company has also form a joint venture with Shanghai Heng Shi Investment Company Limited to develop property business in mainland.
China High Precision Automation (591 HK), a manufacturer of automation instrument in China, plans to list on the Hong Kong bourse to seek as much as HK$1.2 billion. It will issue 250 million new shares with a price range of HK$3.50 to HK$4.80. Sun Hung Kai International Limited is the sponsor of its listing.
Oriental Wise, a wholly owned subsidiary of China Qinfa Group (866HK), has entered into a shipbuilding contract with China Shipbuilding and CSSC Guangzhou Longxue to buy vessels for US$35.2 million (HK$274.6 million).
Cosco Pacific (1199HK) announced yesterday that executive director and deputy managing director Mr. Wang Zhi has resigned with effect from November 1.
CPMG Holdings (906 HK), China’s largest manufacturer of metal packaging products for consumer goods, plans to list on the Hong Kong bourse to raise HK$1.078 billion. It will issue 200 million new shares priced at a range of HK$3.85 to HK$5.39. China International Capital Corporation Limited and Bank of China International are the sponsors of its listing.
Esprit (330 HK) has appointed Ronald Van der Vis as the group’s executive director effective from November 1, replacing Heinz Krogner, who will remain the executive chairman.
Guangzhou R&F Properties (2777 HK) announced that it has so far reached 89 per cent of its sales target. The total amount of contracted sales for the first ten months has reached 20.618 billion yuan, surging 61 per cent year-on-year with 2,043,900 square metres gross area sold.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
