The operator of China’s biggest online commerce site, Alibaba.com Ltd (1688 HK), posted a 12.3 per cent decrease in net profit for 2009, because of adverse business conditions in the first half, investments in new technology and losses on its business management software division. The company reported a net profit of 1.01 billion yuan in 2009, compared to 1.16 billion yuan a year earlier. Its fourth quarter recorded the first quarterly gain in a year, as a rebound in Chinese exports helped boost revenue. (Hong Kong Economic Journal P. 8)
Asian Citrus (73 HK) said profit amounted to 247.48 million yuan for the six months ended 31 December 2009, up 65.7 per cent over a year ago. Earnings per share were 0.32 yuan. No interim dividend was declared. (Hong Kong Economic Times A13)
BBMG (2009 HK) said it has acquired a land plot in Beijing for 680 million yuan with a floor area of 91,000 square meters. The average price amounts to 7442 yuan per square meter. (Sing Tao Finance B3)
Chia Tai Enterprises International (121 HK) has agreed to surrender and accept convertible bonds worth HK$1.52 billion and issue 3.9 billion new convertible bonds preference shares at a price of HK$0.39 apiece. (Sing Tao Finance B3)
China Mobile (941 HK) announced that it has signed a strategic framework agreement with Jiangxi Government that the company will spend 12 billion yuan to improve network coverage there within 5 years. (Sing Tao Finance B3)
China Resources Gas (1193 HK) is looking at issuing new shares to fund acquisitions this year. The urban gas distributor estimates acquisitions will cost from HK$1.5 billion to HK$2 billion, 57 per cent less than last year. (Hong Kong Economic Times A13)
China Shenhua Energy Company (1008 HK) said its coal production will double in the next five years, while sales in 2013 may be twice the level of 2008, president and executive director Ling Wen said yesterday. (Hong Kong Economic Times A12)
Denway Motors (203 HK) said profit amounted to 1.91 billion yuan for the year ended 31 December 2009, down 8.6 per cent over a year ago, dragged by decline in revenue. A final dividend of 6 fens was declared. (Hong Kong Economic Times A13)
Dynamic Energy’s (578 HK) chairman said the company will acquire and restructure 22 coal mines in Henan within a year in phrases and plans to raise the production capacity. The company expects to spend HK$1 billion on these. (Sing Tao Finance B3)
Get Nice Holdings (64 HK) plans to place 300 million shares at a price of HK$0.5 apiece, a 7.4 per cent discount on the last trading price to raise HK$148 million. (Sing Tao Finance B3)
Newly Listed Huiyin Household Appliances (1280 HK) said it has recorded a margin subscription of HK$1.03 billion, 190 times oversubscribed. (Sing Tao Finance B1)
Peak Sport Products (1968 HK) has recorded a profit of 628.3 million yuan for the year 2009, surging 67.1 per cent. Earnings per share 0.36 yuan per share. A final dividend of HK12 cents per ordinary share is declared. (Hong Kong Economic Times A13)
Poly (Hong Kong) Investments (119 HK) will acquire four mainland property projects for HK$3.98 billion from its parent company. The property developer will pay its parent, Poly Group Corporation, HK$1.99 billion in cash and the balance through new shares. (Hong Kong Economic Journal P. 12)
Hong Kong and China Gas Company (3 HK) posted a profit of HK$5.17 billion for the year 2009, surging 20.3 per cent compared to 2008. Earnings per share for the year were 78.7 HK cents. A final dividend of 23 HK cents per share was declared. (Hong Kong Economic Times A12)
Wheelock Properties (49 HK) said profit amounted to HK$1.458 billion for 2009, an increase of 78.7 per cent from a year ago. Earnings per share were HK$0.7. A final dividend of HK$0.08 per share was declared. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
