China Lilang (1234 HK) said annual sales for 2009 surged 15 per cent while that for the fourth quarter jumped 20 per cent. The menswear company eyes opening 300 to 400 outlets this year, raising the total to as much as 3000. It also plans to develop a new line ‘L2’ aiming at young consumers. The fashion firm said it is in talks with several brands for acquisitions. (Hong Kong Economic Times A11)
China Mobile (941 HK) said only 4.238 million new subscribers were added in December last year, hitting through in 3 years. For the same period, the number of 3G users was 3.41 million, surging 0.432 million from a month earlier. The total number of new subscribers for 2009 totalled 65 million with an average monthly subscriber of 5.42 million. (Sing Tao Finance B3)
Sources said international placed shares of China SCE Property (1966 HK) has been fully subscribed and the group plans to offer shares at HK$2.60 to HK$3.33 apiece, with an entry fee of HK$3363 per board lot of 1000 shares. (Hong Kong Economic Journal P. 12)
China Southern Airlines (1055 HK) announced that it expects to record a profit in 2009 after a net loss in 2008. The company has agreed to buy 20 Airbus A320 aircrafts with a list value of US$1.54 billion. (Sing Tao Finance B3)
Parent of China State Constriction International (3311 HK) announced that it expects to record an 80 per cent surge in profit for 2009, compared to the 2.74 billion yuan profit a year earlier. The gain is attributable to improvement in global and mainland economy, rising investment in fixed assets and increasing income from construction and property. (Hong Kong Economic Journal P. 12)
China Telecom’s (782 HK) CDMA users rose to 3.1 million in December 2009, adding 30,000 users compared with that in November. The total number of new users amounted to 28.18 million for the whole year in 2009. Local telephone line users totalled 188.6 million while broadband users was 53.46 million. (Sing Tao Finance B3)
Macau casino operator Galaxy Entertainment (27 HK) has posted a net profit of HK$3.455 billion for the fourth quarter in 2009, surging 78 per cent year-on-year. The company expects its new project in Cotai to open in the first quarter next year. (Sing Tao Finance B4)
HSBC Holding Plc (5 HK) injected US$700 million in fresh capital into its Mexican unit to fuel growth, chief executive Luis Pena said on Tuesday. The additional cash will allow HSBC to grant more credit in Mexico and revamp most of its bank offices across the country over the next three years, he added. (Hong Kong Economic Times A11)
Imagi International (585 HK) is in talks with various potential investors in regards to a possible investment in the company and it has received a non-binding written offer from one of potential investors. The company targets to attract new investment of as much as HK$250 million in aggregate in order to finance its new business strategies and working capital or restructuring its debts. (Hong Kong Economic Times A11)
Orient Overseas (International)’s (316 HK) chairman Tung Chee-chen said the company is seeking opportunities for merger and acquisition with the HK$17.1 billion in cash raised from sales of its China property assets. Meanwhile, the company has recorded a net profit of US$1.07 billion for the fourth quarter of 2009, dropping 22 per cent from a year ago. Its total revenue was US$3.84 billion in 2009, plunging 35 per cent year-on-year. (Sing Tao Finance B3)
Sinofert (297 HK) issued a profit warning and expected to record a loss in the second half of and throughout the financial year of 2009. The expected loss was due to the impact of global financial crisis on overall operating environment and significant decrease in domestic demand and price of potash fertilizer, which in turn leads to a corresponding decrease in the sales volume and operating gross profit.
(Hong Kong Economic Times A11)
Skyworth Digital (751 HK) announced that it sold 1.065 million units of TV in December last year, edging up 2 per cent compared to the sales a year ago. The sales during April to December in 2009 were down 7 per cent on the year. (Hong Kong Economic Times A11)
The public offering of SouthGobi Energy Resources (1878 HK) shares were oversubscribed for 20 times, locking up HK$7.8 billion when it closed its retail books yesterday, according to market sources. (Sing Tao Finance B4)
Tianyi Fruit Holdings (756 HK) announced that its unaudited consolidated profit for the six months ended December 31 rose by 50 per cent on a year-on-year basis. Meanwhile, the company’s chairman Sin Ke said it is planning to enlarge its production capacity in Hainan and to enter the Russian market. (Sing Tao Finance B3)
Xtep International (1368 HK) plans to open 800 to 1000 branches in second and third tier cities of China. The company has signed an agreement with Birmingham International Holdings Limited (2309) for sponsorship from August this year to May 2015 for Birmingham City Football Club. It will also provide about HK$10 million worth of sportswear products for the club. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
