Hong Kong Stock Market Wrap April 29th, 2010

IPO: Sateri International, a privately held producer of the wood-based cellulose used to make textiles in Brazil, plans to raise up to around HK$7.8 billion in Hong Kong initial public offering in the second half of this year, Financial Times reported. Sateri owns plantation in both Brazil and China. The raised capital will be used to enlarge production capability to meet the demand in the emerging market including China. (Hong Kong Economic Times A2)

Angang Steel (347 HK) recorded net profit of around 1.148 billion yuan, surging 573 times year-on-year in the first quarter. Earnings per share were 0.159 yuan. The company expected that interim results ended June 2010 will return to the black. (Sing Tao Daily B2)

ASM Pacific Technology (522 HK) posted net profit of HK$466 million in the first quarter. Earnings per share were HK$1.18. The company expected continuous growth in the second quarter. Director Lee Wai Kwong said the company may revise its 2010 US$500 million capital spending plan to enhance capacity and R&D ability. (Sing Tao Daily B2)

China COSCO (1919 HK) earned 882 million yuan in the first quarter of the year, compared to a loss of HK$3.3 billion for the same period last year. Earnings per share were 9 fen. Earnings mainly came from dry bulk shipping business. (Sing Tao Daily B4)

China Shenhua Energy (1088 HK) posted earnings of 9.244 billion yuan in the first quarter, up almost 17 per cent. Turnover grew almost 21 per cent to 32.8 billion yuan. The company said government imposed stricter supervision policy on coal enterprises, which might lead to temporary production limitation in some coal mines. (Sing Tao Daily B4)

NET FALLS 68% IN Q1 DUE TO HIGH COST ON 3G OPERATION China Unicom (762 HK) posted first-quarter net profit of 1.129 billion yuan, down 68 per cent, due to expanding network and high cost on 3G operation. Earnings per share were 5 fen, below expectations. Revenue rose 6.6 per cent year-on-year to 40.415 billion yuan. (Sing Tao Daily B2)

China Zhongwang (1333 HK) saw turnover grow 37 per cent to 3.82 billion yuan in the first quarter on higher sales volume and average selling prices of industrial aluminum products. Earnings were approximately 1.312 billion yuan, up 65 per cent over the same period last year. (Sing Tao Daily B4)

Rumour said it that CLP Holdings (2 HK) has hired 18 banks to arrange a loan of up to HK$6 billion for refinancing, Bloomberg reported, citing unnamed sources. Interest rate of the five-year loan will be 70 points higher than Hong Kong interbank rate. (Hong Kong Economic Journal P4)

China Merchants Holdings (144 HK) announced that its subsidiary, CM Vietnam, will establish a joint venture with BSPD and PVSB to construct and operate the Vu Vung Tau International Container Port (including a modern warehouse and logistics park) located in Southern Economic Focal Zone, Vietnam. The company will hold 49 per cent stake in the joint venture. (Hong Kong Economic Journal P4)

Q1 PROFIT UP 1.8% China Oilfield Services (2883 HK) said profit rose 1.8 per cent to 977 million yuan for the first quarter this year. The company said ship team’s working days of its main business, oil drilling, increased 8.6 per cent to 2,115 days, while the working days of ship service rose 5.3 per cent to 6,580 days. (Hong Kong Economic Times A14)

Datang International Power (991 HK) said first-quarter profit slumped 57 per cent to 15.536 million yuan, mainly due to the coal cost increase and drought in south western China. Operating cost surged 75 per cent in the first quarter. China Electricity Council said the constant drought in the southwestern China will face a whole-industry loss if the coal price keeps going up in the second quarter. (Hong Kong Economic Times A14)

Dongfang Electric Corporation (1072 HK) said decreasing cost boosted profit to rise 57.46 per cent to 471 million yuan in the first quarter of this year. The company said though the first-quarter income fell 4.2 per cent to 6.919 billion yuan, operating margin still managed to grow 4.5 percentage points to 19.07 per cent as the decline of cost is more than that of income. In addition, the capital of new orders the company received in the first quarter amounted to 8.7 billion yuan. (Hong Kong Economic Times A14)

Global Green Tech (274 HK) reported net loss of around HK$269 million for the year 2009. Loss per share was 13.78 HK cents. No dividend was declared. Auditor mentioned in its report that there exists material uncertainty, which may cast significant doubt about the Group’s ability to continue as a going concern. (Sing Tao Daily B2)

Industrial and Commercial Bank of China (1398 HK) posted a profit of 41.547 billion yuan in the first quarter, up 18.19 per cent year-on-year, as interest-generating asset increase boosted card business and net service fees as well as commission income rose nearly 35 per cent to around 18.13 billion yuan. The result is in line with expectations of the market, the paper said. The bank said its non-performing loan ratio was 1.35 per cent, a drop of 0.19-percentage point from Dec. 31. (Hong Kong Economic Journal P1)

Ping An Insurance (2318 HK) saw first-quarter earnings jump 90 per cent year-on-year to 4.617 billion yuan. Total income was 53.6 billion yuan, up 48 per cent. Earnings per share were 0.62 yuan, up almost 94 per cent. (Sing Tao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 28th, 2010

Cheung Kong Infrastructure Holdings (1038 HK) said it has acquired 50 per cent stake in Seabank, a natural gas power plant BG Energy, from BG Energy. The deal price was HK$2.5 billion. In addition, the company’s unit plans to buy a stake up to 8.2 per cent in Enviro Energy (8182) with no more than HK$176 million over the coming three years, according to the Enviro’s filing. (Sing Tao Daily B2, B3)

China Citic Bank (998 HK) saw earnings increase by 7.69 per cent to 14.319 billion yuan in the year 2009, benefited by a drop in asset impairment loss by 61 per cent. Earnings per share were 0.37 yuan. The bank distributed a dividend of 0.88 yuan for every 10 shares. (Hong Kong Economic Journal P.7)

Q1 PROFIT SURGES 67% China Life (2628 HK) said first-quarter profit increased nearly 67 per cent year-on-year to 10.2 billion yuan, mainly helped by steady growth in insurance business and investment revenue. Driven by the stock rally, the group’s investment revenue grew nearly 57 per cent to 18.3 billion yuan in the first quarter. (Sing Tao Daily B1)

Mengniu Dairy (2319 HK) returned to the black for the year 2009 and earned 1.116 billion yuan. Net cash flow jumped to 2.1 billion yuan. A final dividend of 0.14 yuan per share was declared. Founder Niu Gensheng was shifted to a non-executive position. (Hong Kong Economic Times A13)

China Merchants Bank (3968 HK) said first-quarter net profit soared 40.42 per cent year-on-year to 5.909 billion yuan, as net interest income surged nearly 32 per cent to 12.514 billion yuan and fee-based revenue increased by 39.09 per cent to 2.416 billion yuan. Earnings per share were 0.3 yuan. (Sing Tao Daily B2)

China National Materials (1893 HK) saw total operating income climb 44 per cent to 6.261 billion yuan in the first quarter. Total earnings surged 130 per cent to 369 million yuan. Net profit soared 25 times to 80.16 million yuan. (Hong Kong Economic Journal P.6)

China Petroleum & Chemical Corporation (386 HK) posted a net profit of 15.785 billion yuan for the first quarter this year, up almost 40 per cent year-on-year, as domestic demand grew and production of oil products as well as ehylene increased substantially. Earnings per share were 0.182 yuan. (Sing Tao Daily B2)

China Shipping Container Lines Company Limited (2866 HK) said its net loss for the first quarter narrowed to around 192.7 million yuan, up 84.15 per cent compared with that of last year, as freight revenue and loaded container volume increased significantly. (Sing Tao Daily B2)

China Telecom (728 HK) recorded Q1 net profit of 4.27 billion yuan, down 9.1 per cent year-on-year, meeting expectations. Operating revenues were 52.712 billion yuan, up 3.6 per cent year-on-year. EBITDA before CDMA network capacity lease fees was 22.8 billion yuan, up 2.7 per cent year-on-year. (Hong Kong Economic Journal P.6)

Cnooc Limited (883 HK) said total income for the first quarter this year doubled to 30.49 billion yuan compared with a year ago. Net natural gas and oil production from January to March amounted to 67.3 million barrels, up 31.9 per cent. Oil price surged over 81 per cent to $75.37 per barrel. (Sing Tao Daily B2)

Port operator COSCO Pacific (1199 HK) reported first-quarter net profit of $133 million, up 2.07 times year-on-year, lifted by one-off profit on disposal of equity interest in COSCO Logistics. Excluding the one-off gain, the port operator saw first-quarter core earnings of $48.537 million, up 11.8 per cent year-on-year. The disposal of 50 per cent equity interest of COSCO Logistics generated $84.71 million gain. (Hong Kong Economic Times A13)

Henderson Land Development (12 HK) said the capital value of the group’s property interest amounted to HK$188.1 billion in Hong Kong and mainland China, among which Hong Kong properties account for around 74 per cent. Only the capital of Hong Kong properties held for sale reached HK$16.151 billion. As for the rental business, International Finance Centre is the most valuable property in Hong Kong and World Financial Centre is the most valuable in mainland China. (Sing Tao Daily B2)

Huadian Power (1071 HK) reported Q1 net profit of 77.238 million yuan, down 60 per cent year-on-year due to higher coal price. Operating cost climbed 37.59 per cent year-on-year to 9.713 billion yuan. The company announced yesterday it would buy 84.31 per cent stake in Shandong-based Century Power for 2.36 billion yuan to expand its operating capacity. (Hong Kong Economic Times A13)

Sinopec Shanghai Petrochemical Company (338 HK) said first-quarter profit amounted to 895 million yuan, surging 4.46 times year on year. Earnings per share were 0.124 yuan. (Sing Tao Daily B2)

TCL Communication Technology (2618 HK) returned to the black on the year-on-year basis in the first quarter, earning HK$69.533 million. Net profit dropped around 38 per cent over the final quarter last year on factors including lower mobile sales. Turnover was 1.474 billion, up 1.4 times year-on-year, down 24.8 per cent quarter-on-quarter. (Hong Kong Economic Times A13)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 27th, 2010

Anhui Conch (914 HK) posted earnings of approximately 792 million yuan for the first quarter of the year, up almost 94 per cent year-on-year. Turnover reached around 6.07 billion yuan. Gain per share was 45 fen. (Sing Tao Daily B2)

Bank of China (3988 HK) earned as much as 26.23 billion yuan in the first quarter of the year, surging 41.25 per cent, slightly higher than expectations. Earnings per share were 10 fen. Net interest income reached 44.506 billion yuan, up 20.82 per cent. Net interest margin was 2.04 per cent, down 10 percentage point over the same period last year. (Sing Tao Daily B2)

BOC Hong Kong (2388 HK) posted an unaudited operating profit before impairment allowances climbed to HK$4.171 million, up 4.25 per cent compared with that of same period last year, due to higher fee income from loans and stock broking despite a drop in net interest income under the low interest rate environment. Net operating income before impairment charges rose 7.57 per cent from a year earlier. (Hong Kong Economic Journal P6)

China Unicom (762 HK) may cut the minimum package price for 3G to 36 yuan from 66 yuan, according to mainland newspapers. Meantime, the paper said it will also cut the minimum monthly service price with iPhone to 96 yuan from 126 yuan, which will make newly-bought iPhone 1,000 yuan cheaper than before. (Hong Kong Economic Times A12)

SALES TARGET 100B YUAN BY 2012 Amid mainland high-railway net work construction wave, China South Locomotive & Rolling Stock Corporation (1766 HK) expects sales to rose 1.2 times to 100 billion yuan by 2012 and portion of overseas business to increase to up to 20 per cent, according to its CEO.
(Hong Kong Economic Times A12)

Chow Sang Sang Holdings (116 HK) announced yesterday that it will place up to 75 million existing shares at a price of HK$13.3 per share, a discount of approximately 10 per cent to the closing price of HK$14.78 right before the suspension of trading on Hong Kong bourse. The company will resume trading today. (Hong Kong Economic Journal P6)

CNR Holdings (2889 HK) recorded a loss of 332 million yuan for the year 2009, sinking into the red. Loss per share was 0.159 yuan. No dividend was declared. (Sing Tao Daily B2)

Dynamic Energy (578 HK) saw net profit slightly above HK$46 million for the full-year of 2009, down 83 per cent year-on-year. Earnings per share were 2.57 HK cents. No dividend was declared. The company plans to issue HK$1.2 billion convertible bonds. (Sing Tao Daily B2)

Lansen Pharmaceutical (503 HK) said it is planning to develop immune medicine for rheumatism for mainland China market and expand it as its main business, according to its CEO. The company will look for acquisition target actively in the future, he said. (Hong Kong Economic Journal P8)

Sany International (631 HK) recorded net profit of 490 million yuan for the year 2009, up almost 1.6 times year-on-year. Basic earnings per share amounted to 0.32 yuan. A final dividend of 6 HK cents per share was paid. (Sing Tao Daily B2)

Sichuan Expressway (107 HK) posted an unaudited profit of 294 million yuan for the first quarter this year, up 67.4 per cent year on year, as its sales income increased 22 per cent year on year and cost went down. (Hong Kong Economic Times A12)

Shanghai Zendai (755 HK) announced yesterday that it would set up a joint venture with companies including its second largest shareholder Shanghai Forte Land (2337) and Greentown (3900) to develop large projects in Shanghai. The company and Shanghai Forte Land will own the joint venture as to 50% and 30% respectively. The registered capital of the joint venture will be 1 billion yuan. (Sing Tao Daily B3)

SMIC (981 HK) saw turnover for the year 2009 drop almost 21 per cent to around HK$8.3 billion. Sales cost and administrative fees jumped 56 per cent and 2.6 times respectively. The company lost approximately HK$7.5 billion, up 1.2 times year-on-year. Loss per share was 4 US cents. (Sing Tao Daily B4)

Weichai Power (2338 HK) posted net profit of 3.4 billion yuan for the full-year of 2009, up almost 77 per cent year-on-year. A final dividend of 0.48 yuan per share was recommended. As economy recovers, the company saw earnings climb almost 3.5 times to approximately 1.62 billion yuan in the first quarter of 2010. (Sing Tao Daily B3)

Wheelock & Co. (20 HK), the Hong Kong-based company that controls two of the city’s biggest shopping malls through a unit, offered to pay HK$6.9048 billion to buy Wheelock Properties Ltd. Shares it doesn’t already own. Price per share will be HK$13, higher than expected. (Hong Kong Economic Journal P6)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 26th, 2010

Air China (753 HK) director Kong Dong said the next target was to increase the capital spending of 2010 by 50 per cent year-on-year to 15 billion yuan in order to gain market share in the mainland. The company intends to expand its presence in the Eastern and Southern market. Air China’s net profit more than doubled to 2.172 billion yuan in the first quarter of the year. (Hong Kong Economic Times A12)

Asia Cassava Resources Holdings Limited (841 HK) announced profit warning for the fiscal year ended March 31. The company said it cassava chips sale and turnover are likely to more than double, due to persistent increasing demand. (Sing Tao Daily B2)

BYD (1211 HK) said unaudited first-quarter net profit surged 2.55 times year on year to 1.704 billion yuan. Turnover amounted to around 12.656 billion yuan, up 70 per cent compared with that of the same period last year. Earnings per share were 0.75 yuan. No final dividend was decalred. (Sing Tao Daily B4)

China Construction Bank Corp. (939 HK) is likely to propose a 0.7-for-10 rights issue to raise as much as 70 billion yuan in Shanghai and Hong Kong, according to mainland media, citing unnamed authorized sources. The board will discuss the proposal on April 29 when the bank checks its first-quarter results, the paper said. (Sing Tao Daily B2)

China Citic Bank (998 HK) said it will cooperate with its strategic shareholder CORFISA, which is wholly controlled by Spanish bank Banco Bilbao Vizcaya Argentaria SA., to set up a China Auto Finance venture. Citibank will contribute 650 million yuan for a 65 per cent stake in the company. The total registration capital will be 1 billion yuan. (Sing Tao Daily B2)

China Forestry (930 HK) posted net profit of 511 million yuan for the full-year of 2009, down 91.3 per cent. Earnings per share amounted to 0.22 yuan. Revenue rose 45.7 per cent to 793.7 million yuan. A final dividend of 5.86 HK cents was declared. (Hong Kong Economic Journal P.8)

China Railway (390 HK) posted net profit of 6.887 billion yuan, surging 4.1 times year-on-year. A final dividend of 0.063 yuan was declared. Other income totalled 1.357 billion yuan. Gross profit margin dropped 1.2 percentage points year-on-year to 6.1 per cent. Net profit in the first quarter rose 68.48 per cent year-on-year to 1.655 billion yuan. (Hong Kong Economic Times A12)

Dragon Hill Wuling Automobile (305 HK) Holdings said it recorded a loss of 21.92 million yuan for 2009, compared with a profit of 32.64 million yuan in 2008. If excluding the loss resulted from the change in fair value of the derivative financial instrument embeded with the convertible loan notes issued by the company, the company gained around 43.76 million yuan, up 34% year on year. Loss per share was 2.39 fen. No final dividend was declared. (Sing Tao Daily B4)

Hong Long (1383 HK) chairman Zeng Yunshu said contract sales target this year would be 1.628 billion yuan, with sales area of 202,000 sq.m. Sales reached 300 million yuan since this year, of which 100 million yuan generated from Hong Long Century Plaza that has launched sales since early April. He added that the company had not been affected by new macro-adjustment measures as it was focusing on sales of commercial properties. (Hong Kong Economic Times A12)

Lansen Pharmaceutical Holdings (503 HK) said it would benefited from the continued growth of pharmaceutical industry in the PRC but whether it would distribute dividends in the first listing year had yet to be decided. The company expected net profit of US$4.8 million for the period ended June 2010. (Hong Kong Economic Journal P.8)

Lenovo Group Limited (992 HK) mulls on acquiring a U.S. smart phone producer Palm, to pave the way into the U.S. market, Reuters news reported. The fourth largest PC maker would have to invest up to HK$10.1 billion to complete the deal, the news agency said. (Sing Tao Daily B2)

Orange Sky Golden Harvest (1132 HK) saw revenue grow 55 per cent to HK$290 million in the first quarter and net profit grow 5.6 times year-on-year to HK$33 million. For the 18 months ended last year, revenue amounted to HK$1.164 billion, increased by 88 per cent over the year ended June 2008. Net profit rose from HK$11 million to HK$96 million. Special dividend of 1 HK cent per share was recommended. (Hong Kong Economic Times A12)

Sun Hung Kai & Co. Limited (86 HK) said it will conduct reorganization and it has agreed to sell Mandatory Convertible Notes and warrants to a private-equity firm CVC Capital Partners for HK$2.14 billion. The sale is conditional on Sun Hung Kai disposing of its 38 per cent stake in mainland producer Tian An China Investments Co. (0028), to Allid Properties Ltd. (0056). (Sing Tao Daily B4)

Swire Properties (962 HK) said 65 per cent of the fund raised will be used to pay back the debt for its parent company, Swire Pacific Limited (0019). Another HK$210 million will be invested in property developments, according to the prospectus. The company will issue 910 million shares at a price ranging from HK$20.75 to HK$22.9. The entry fee for the retail investors will be HK$4,626. (Sing Tao Daily B1)

Renhe Commercial (1387 HK) posted revenue of 4.163 billion yuan for the year 2009, up 36.5 per cent. Net profit jumped 1.12 times to 4.038 billion yuan. Earnings per share were 19.29 fen. A final dividend of 9.18 fen per share was paid. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 23rd, 2010

Bank of Communications (3328 HK), China’s fifth largest lender, announced that the company has got approval of its rights issue from China Banking Regulatory Commision, which aims at raising up to 42 billion yuan from shareholders of both A-and H-shares. (Sing Tao Daily B16)

Dieter Zetsche, Chairman of the Board of Management of Daimler AG, announced that the company will cooperate with BYD (1211 HK) on developing a new electric vehicle specific to the requirements of the Chinese market and will launch the sale in 2013. In addition, BYD plans to sell E6 electronic taxi in Shenzhen this year. (Sing Tao Daily B16)

China mobile (941 HK) recorded a nearly one-year high of new customer growth, among which the number of 3G customers surged 3 million. The company revised its 2009 target to add at least 11.5 million news TD customers while striving for the target of 15 million by the end of this year. (Hong Kong Economic Journal P4)

China Southern Airlines (1055 HK) posted an unaudited profit of 1.419 billion yuan for the first quarter this year, surging 5.39 times year on year, mainly helped by an one-off investment income from selling stake in an aircraft maintenance unit. (Hong Kong Economic Times A14)

Esprit Holdings Limited (330 HK) said turnover declined 1.8 per cent to HK$26.7 billion for the past nine months ended 31 March 2010, mainly due to the decrease in Europe. Turnover in Europe went down 3.2 per cent to HK$22.437 billion. (Sing Tao Daily B16)

TSC Offshore (206 HK) said its 2009 profit turns to the red, with a loss of $10.2 million, or 1.81 US cents per share as the company made provisions against possible impairment of assets in particular trade receivables, inventories and foreseeable losses on contracts, following its acquisition of Global Marine Energy Plc. No final dividend was declared. (Hong Kong Economic Journal P8)

Yanzhou Coal Mining (1171 HK) posted a net profit of 2.1 billion yuan for the first quarter, up 1.9 times year on year. Meantime, the company announced profit warning for the first half this year, expecting its net profit to grow more than 100 per cent, compared with a first-half profit of 1.904 billion yuan last year. (Hong Kong Economic Times A14)

Centron Telecom (1155 HK) saw last-year net profit climb about 40 per cent year-on-year to 165 million yuan. Revenue amounted to 1.14 billion yuan, up almost 40 per cent year-on-year. Gross profit margin was around 28.37 per cent, down 0.60 percentage points. Research and development expenditure was approximately 33 million yuan, surging nearly 94 per cent. Dai Guoyu has resigned as CEO due to health problems but remains an executive director and chairman Dai Guoliang, effective from 23 April, will take his place temporarily. (Hong Kong Economic Journal P.5)

DVN (500 HK) recorded profit of approximately HK$11.81 million for the full-year of 2009, down 87 per cent year-on-year. Earnings per share were 1.04 HK cents. No final dividend was declared but a special dividend of HK$0.02 per share was paid. (Sing Tao Daily B12)

Greens Holdings (1318 HK), listed since last November, said earlier that 2009 results might fail to achieve profit forecast in prospectus of not less than 95 million yuan. The company announced yesterday profit attributable to shareholders for 2009 rose 13.8 per cent to 68.317 million yuan, 28 per cent below the forecast, due to delay of some sales orders. Revenue grew 28.9 per cent to 555 million yuan. Basic earnings per share amounted to 0.072 yuan. A final dividend of 2.17 HK cents per share was recommended. (Hong Kong Economic Times A15)

Mayer Holdings (1116 HK)’ 2009 full-year results sank into the red and reported loss of approximately 510,000 yuan. Loss per share was 0.09 fen. No dividend was declared. (Sing Tao Daily B12)

Meike International (953 HK) posted profit of around 90,000,000 yuan for the year 2009, same as prospectus forecast, up almost 85 per cent year-on-year. Turnover reached 499 million yuan. Earnings per share were 12.1 fen. A final dividend of 3.4 fen per share was declared. (Sing Tao Daily B12)

Sinopharm’s (1099 HK) A shares announced first-quarter results yesterday. Net profit was 69.86 million yuan, up 20.17 per cent over the same period last year. Earnings per share were 14.59 fen. Turnover was 1.39 billion yuan, up 11.7 per cent from the 1.246 billion yuan for the same period last year. (Sing Tao Daily B12)

Royale Furniture (1198 HK) recorded net profit of HK$130 million for the full-year of 2009. Earnings per share were 29.53 HK cents. A final dividend of 8.5 HK cents per share was declared. (Sing Tao Daily B12)

Uni-President China (220 HK) saw turnover drop 1.4 per cent to 9.1 billion yuan for the year 2009. Net profit more than doubled to 705 million yuan. A final dividend of 5.875 fen per share and special dividend of 3.917 fen per share were recommended. (Hong Kong Economic Times A15)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 22nd, 2010

Aeon Credit Service (Asia) Company Limited (900 HK) said full year profit declined 13 per cent to around HK$260 million. Earnings per share were 61.94 HK cents. A final dividend of 16 HK cents was declared. (Sing Tao Daily B4)

Air China Limited (753 HK) said net profit jumped to 4.854 billion yuan last year, compared with a net loss of 9.25 billion yuan in 2008, mainly helped by lower fuel costs and higher passenger volumes. Profit for the first quarter this year surged 1.77 times to 2.172 billion yuan, or 19 fens per share. (Sing Tao Daily B4)

Asia Energy Logistics (351 HK) expected its results to return to the black this year. The company posted turnover of HK$110 million for the year 2009, up 3.3 per cent. Loss narrowed 90 per cent to HK$3.4 million. No final dividend was declared. (Hong Kong Economic Journal P12)

Ausnutria Dairy (1717 HK) saw profit attributable to shareholders climb 158 per cent to 182 million yuan for the year 2009. Earnings per share were 21.3 fens. A final dividend of 6 fens per share was declared. (Hong Kong Economic Times A13)

China Overseas (688 HK) reported unaudited turnover of HK$6.056 billion and operating income of HK$2.44 billion in the first quarter of the year. Net gearing rose to a relatively high level of 50 per cent. (Hong Kong Economic Journal P8)

China South Locomotive & Rolling Stock Corporation (1766 HK) posted a full-year profit of 1.678 billion yuan in 2009, up over 21 per cent. A final dividend of 4 fens per share was declared. Net profit jumped almost 85 per cent year-on-year to 355.9 million yuan in the first quarter this year, in accordance with PRC accounting standards. (Sing Tao Daily B5)

China Coal Energy (1898 HK) achieved net profit of 7.83 billion yuan for the year 2009, up 9.9 per cent over the same period the previous year. Earnings per share were 0.59 yuan, up 9.3 per cent year-on-year. A final dividend of 0.14984 yuan per share was recommended. In addition, the company recorded a profit of 1.98 billion yuan in the first quarter this year, up 42 per cent compared with the same period a year ago, driven by increasing coal demand. (Hong Kong Economic Journal P12)

China Cosco (1919 HK), the world’s largest operator of dry-bulk ships, posted a net loss of 7.468 billion yuan last year, compared with a net profit of 11.6 billion yuan in 2008, as rates for hauling commodities and containers tumbled. Loss per share amounted to 73.1 fens. No final dividend was declared. (Sing Tao Daily B5)

China Shipping Container Lines (2866 HK), the nation’s No. 2 box- carrier, said it expected to return to profit after more than 80 per cent customers agreed to an $800 per 40-foot box increase in Asia-US west coast routes, according the CEO. He said profit to grow 30 per cent to 26.1 billion yuan. (Sing Tao Daily B5)

Denway Motors (203 HK) announced that the board had appointed BNP Paribas Capital (Asia Pacific) Limited as independent financial adviser to advise on the proposed privatization of the company and the listing of its parent GAC. (Hong Kong Economic Journal P12)

Global Bio-Chem Technology Group (809 HK) turns into the red in 2009, losing as much as HK$14.978 million, compared with a net profit of over 621 million in a year before, as the company’s export business shrank and amino acids product price dropped. Loss per share amounted 6 HK cents. No final dividend was recommended. (Sing Tao Daily B4)

Global Sweeteners (3889 HK) posted net profit of HK$85.68 million for the year 2009, down 44.5 per cent. Earnings per share were 8.2 HK cents. A final dividend of 1 HK cent per share was declared. (Hong Kong Economic Times A13)

Guangshen Railway Co. (525 HK) said 2009 profit rose 11.76% per cent to 1.365 billion yuan. Earnings per share were 0.19 yuan. A final dividend of 7.2 HK cents was declared. (Sing Tao Daily B5)

Lumena Resources Corp. (67 HK), a Chinese thenardite producer, said net profit rose by 24 per cent to 533 million yuan for the year 2009, as demand for thenardite increased and selling price remained on a high level. Capital expenditure this year will be 560 million yuan. In addition, the company said production capability is estimated to rise by 60 million tonnes to 220 million tonnes. (Sing Tao Daily B4)

Ping An Insurance (2318 HK) recorded net asset entrusted and under management in annuity business of 22.457 billion yuan and net asset under investment management in annuity business of 29.533 billion yuan in the first quarter this year, reaching approximately 52 billion yuan in total. (Hong Kong Economic Times A13)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 21st, 2010

Angang Steel (347 HK) recorded net profit of 752 million yuan for the year 2009, down 75 per cent. Basic earnings per share amounted to 0.104 yuan. A final dividend of 0.06 yuan per share was declared. Turnover dropped 11 per cent to approximately 70 billion yuan. (Hong Kong Economic Journal P10)

Asian Citrus (73 HK) plans to place 68 million shares at a price of HK$5.7 per share to raise up to HK$388 million. Its substantial shareholder Huge Market Investments Ltd. will place 27 million existing shares at the same price for HK$154 million. The shares of the company resume trading today. (Hong Kong Economic Journal P11)

China Gas Holdings (384 HK) has made a request to cancel its offer to buy Zhongyu Gas Holdings Limited (8070) as the latter failed to publish its 2009 results announcement and the trading of its shares was suspended. China Gas Holdings’ shares was suspended trading on 16 April. The company has applied to resume trading this morning. (Hong Kong Economic Times A14)

China Mobile Ltd. (941 HK), the world’s biggest phone carrier by market value, posted weaker-than-expected earnings, which merely grew 1.1 per cent from the year-earlier quarter. But some analysts are still bullish on its shares. Credit Suisse maintained its rating as “outperform” and target price at HK$107. (Sing Tao Daily B2)

China Ocean Shipbuilding (651 HK) issued a profit warning after closing yesterday. The company expected to record a substantial loss for the year 2009, mainly attributed to factors such as impairment loss on goodwill and intangible asset. (Hong Kong Economic Journal P11)

CSCL (2866 HK) lost 6.489 billion yuan for the year 2009. No dividend was declared. The company said 2009 was a gloomy time for the shipping market. It made a net profit of 47.08 million yuan in 2008. (Hong Kong Economic Times A12)

China Shipping Development (1138 HK) posted a unaudited profit of 458 billion yuan for the three months ended 31 March this year, up 45 per cent compared with the same period last year, as interest expenses from related bank borrowings has be conducted as cost and new vessels were delivered. The information set out is accordance with the PRC accounting standards. (Sing Tao Daily B4)

Chu Kong Petroleum And Natural Gas Steel Pipe (1938 HK) said its capital expenditure this year will be 852 million yuan, among which 830 billion yuan will be used to add three production lines. In addition, the company has finished a trial production of a new type of pipe designed by itself for deep sea and will accept orders at the end of this year at soonest. (Sing Tao Daily B4)

Dongfang Electric Corporation (1072 HK) said thermal power orders may record decrease as the number of new projects are smaller this year, according to its CEO. But he added that the company would make up the loss through increasing wind power and nuclear power, as well as enlarging the overseas market. (Sing Tao Daily B4)

Emperor Capital Group (717 HK) said the unaudited interim results of the company for the six months ended 31 March are expected to record a significant profit as compared to a loss for the corresponding period in 2009, mainly helped by the improvement in business operations as a result of the recovery in the stock market activities. (Sing Tao Daily B4)

Jiangxi Copper (358 HK) saw net profit jump 3.6 times year-on-year to almost 700 million yuan for the first quarter of the year on rising sales prices and volumes. Operating income rose 60.9 per cent to 15.9 billion yuan while net cash flow from operating activities slumped 98.9 per cent. (Hong Kong Economic Times A14)

Shun Tak Holdings (242 HK) saw net profit climb 27 times to HK$2.874 billion for the year 2009. Core earnings rose 5.1 times to HK$1.193 billion. Basic earnings per share were HK$1.344, up 29.5 times. A final dividend of 18.7 HK cents per share was declared. (Hong Kong Economic Times A12)

Rainbow Brothers Holdings (33 HK), whose market share is only HK$320 million, has agreed to acquire 90 per cent stake in Market Speed Limited from Tong Nai Kan, for HK$3.24 billion. The deal will be paid through convertible bonds issued by the company. (Sing Tao Daily B3)

RUSAL (486 HK) said the company aims at lowering its debt and boost aluminium production capacity, according to its CEO. The company is seeking to raise $700 million to fund the construction of the first of two new smelter complexes, which could produces around 332,000 tonnes of aluminium, by September 2011. (Sing Tao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 20th, 2010

Agile Property Holdings Ltd. (3383 HK) is planning to issue seven-year guaranteed senor notes in dollars for $500 million. The company intends to use the capital to finance the redemption of the outstanding principal amount of the 2006 notes and general corporate purposes. (Sing Tao Daily B4)

CHALCO (2600 HK) recorded net profit of 627 million yuan for the first quarter this year, up from a loss of 1.9 billion yuan for the same period last year. The company said rising demand for aluminum boosted product prices and expected to reap profit in the first half of the year. (Hong Kong Economic Times A15)

China Eastern Airlines (670 HK), the nation's second-largest carrier, plans to raise the portion of international flight by 10 per cent to 40 per cent, after acquiring Shanghai Airlines. The company also aims to expand its market share in Shanghai to 50 per cent from 47 per cent, according to its financial chief yesterday. (Sing Tao Daily B3)

China Minsheng Banking Corp. (1988 HK) may consider issuing bonds to further shore up its capital base, according to its vice president yesterday. But he said the company won’t increase core capital from the equity market in the near future, after it raised almost US$4 billion last year via Hong Kong listing. (Sing Tao Daily B4)

CNBM (3323 HK) recorded net profit of 2.35 billion yuan for the year 2009 on government’s policies and industry restructuring. The company believed the government’s new measures on the housing sector will still be favourable to its businesses. It expected capital spending this year to drop 23 per cent to 10 billion yuan. Most of the spending will be spent on cement business. (Hong Kong Economic Journal P.6)

China Zhongwang Holdings Limited (1333 HK) posted a net profit of 3.53 billion yuan for the year 2009, surging 84.7 per cent compared with a year ago. Earnings per share were 0.72 yuan. A final dividend of 17 fens and special dividend of 6 fens per share was declared. (Sing Tao Daily B3)

Datang International Power (991 HK) said its parent company’s plan to list its new energy and coal chemical business on Shenzhen’s Growth Enterprise Market got approved by the government recently. (Sing Tao Daily B3)

GEG (27 HK) doubled its EBITDA to HK$1.12 billion for the year 2009, higher than the HK$1.066 billion that market has expected. Profit attributable to shareholders was HK$1.149 billion. The company holds positive view on Macua gambling market this year and expects an average growth of 20 per cent. (Hong Kong Economic Times A15)

Greentown China Holdings (3900 HK) said full-year net income rose 87% to 1.012 billion yuan year on year. Sale target this year is 67 billion yuan. Earnings per share were 64 fens. A final dividend of 26 HK cents per share was declared. (Sing Tao Daily B4)

Benefited by government’s policies, Haier Electronics (1169 HK) posted profit of 370 million yuan for the year 2009, surging 1.72 times. No final dividend was declared. Turnover reached 11.531 billion yuan, up 13.3 per cent year-on-year. Gross profit margin increased by 1.1 percentage points to 29.9 per cent, mainly lifted by decreased raw material prices and optimized product mix.

Huaneng Power International (902 HK) reported a profit of 952.8 million yuan for the first quarter this year, up 40 per cent, as mainland power generation grew 40 per cent and the government provided a subsidiary of 105 million yuan. Earning per share were 8 fens. (Sing Tao Daily B3)

Maanshan Iron (323 HK) saw net profit climb 1.6 times year-on-year to 520 million yuan for the first quarter this year on increased demand for and prices of iron and steel worldwide as global economy improving. Operating income rose 23.9 per cent year-on-year. (Hong Kong Economic Times A15)

Mingfa Group (846 HK) announced its first full-year results since its listing. Profit attributable to shareholders amounted to HK$987.5 million, up 1.2 times year-on-year, 14.6 per cent higher than prospectus forecast. Earnings per share were HK$18.9 fens. A final dividend of 5 HK cents was declared. (Hong Kong Economic Journal P12)

Pearl Oriental (623 HK) has signed a share subscription agreement with a number of international funds and institutional investors including JP Morgan. The company will issue over 231 million new shares to raise HK$319 million. Subscription price is HK$1.38 per share. (Hong Kong Economic Times A15)

Solomon Systech (International) Limited (2878 HK), a fabless semiconductor company, posted a net profit of HK$530 million last year. Earnings per share were 0.2 HK cents. A final dividend of 1 HK cent per share was recommended. (Sing Tao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 19th, 2010

Angang Steel (347 HK) saw net profit for the year 2009 tumble 75.6 per cent to 752 million yuan. It recommended payment of a final dividend of 0.06 yuan per share. The Company planned to earmark approximately 7.74 billion yuan for various projects and to make an external investment of around 1.803 billion yuan this year. (Hong Kong Economic Times A14)

BBMG Corp., (2009 HK) Beijing’s biggest cement supplier, said property price in Mainland China still has potential to rise this year. Its CEO is bullish on Beijing’s property sales. The company is planning to add new land of up to 1.5 million square meters in 2010, mainly in Beijing, Chongqing and Tianjing. (Sing Tao Daily B2)

Rumour said it that China Construction Bank (1398 HK) will discuss share-placing plan in board meeting at the end of this month. The bank may raise as much as 45 billion yuan via a private placement in Shanghai and 30 billion yuan via a rights issue in Hong Kong. (Sing Tao Daily B1)

China Eastern Airlines (670 HK) recorded net profit of HK$169 million, higher than expectations. No final dividend was declared. The company lost HK$15.269 billion in 2008. (Hong Kong Economic Times A12)

China Metal Recycling (773 HK) recorded net profit of HK$478.4 million for the year 2009, up 62.5 per cent. Basic earnings per share amounted to 54.28 HK cents. A final dividend of 12 HK cents per share was declared. Revenue amounted to HK$9.06 billion, up 39 per cent. (Hong Kong Economic Journal P.8)

Minsheng Banking (1988 HK) saw net profit of 12.104 billion yuan for the year 2009, up 53.5 per cent year-on-year. The bank announced the distribution of cash dividend before tax of 0.05 yuan per share as well as bonus shares, a bonus issue of 2 shares for every10 shares held. (Hong Kong Economic Times A12)

Datang Power (991 HK) reported net profit for the year 2009 of 1.612 billion yuan, surging 115 per cent, on rising electricity prices and power generation capacity. A final dividend of 0.07 yuan per share was recommended. The company expected that the growth in demand for electricity would decline in the mainland this year. (Hong Kong Economic Times A12)

IPO: French cosmetics group L'Occitane is planning to raise capital ranging from HK$4.69 billion to HK45.49 billlion yuan. The company would offer 364.1 million shares at between HK$ 12.88-HK$15.08 each. Entry fee is HK$3808. In addition, the company won a pledge from the China Investment Corporation, China's $300 billion sovereign-wealth fund, to take a $50 million stake in the IPO. (Sing Tao Daily B1)

Peak Sport (1968 HK) posted net profit of HK$158 million for the year 2009, up 14 per cent. Earnings per share were 19.5 HK cents. A final dividend of 3.5 HK cents was declared. Full-year dividend was 4.9 HK cents.The chairman is positive on the outlook for its LED businesses. (Hong Kong Economic Journal P.8)

Ping An Insurance Group (2318 HK), the world’s No.2 insure, said it will maintain a conservative investment policy this year, and will look for opportunities in corporate bonds, according to its CEO in a news conference. He added that the company now has more than 50 million clients worldwide. (Sing Tao Daily B1)

Semiconductor Manufacturing International (981 HK) posted a better-than-expected profit growth of 6 per cent for the first quarter in 2010, due to a continued growth in customer orders, especially from communication-related applications. (Sing Tao Daily B2)

Shengli Oil & Gas Pipe Holdings Ltd. (1080 HK), a Chinese supplier of energy pipelines, said capital expenditure this year will be 450 million yuan, which will mainly be used in enlarging SSAW pipe production. The company estimates the production will rise to 1 million tonnes from the current 46 million tonnes at the end of this year. (Sing Tao Daily B1)

Tongda Group (698 HK) saw net profit for the year 2009 climb 56 per cent to HK$102 million. Earnings per share were 2.52 HK cents. Full-year dividend was 0.5 HK cents. Dividend payout ratio was 37 per cent. (Hong Kong Economic Journal P.8)

Minority shareholders of Wing On Travel (1189 HK) claim the travel agent has undermined their interests over an agreement to sell 90 per cent of its stake to C-trip.com, a leading online travel agent in China. Wing On is optimistic the deal, worth up to HK$660 million, will expand its business in China. (Sing Tao Daily B3)

Controlling shareholder of Wheelock Properties (49 HK) is planning for a possible privatisation of the company, according to its filing to HKEx yesterday. Trading in its shares was suspended, which last closed at HK$5.33 on Friday. Wheelock and Co (0020) now holds 74 per cent of the company. (Sing Tao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 16th, 2010

IPO: To avoid abnormal price changes on listing, Prudential’s underwriters are planning to buy up to 10 per cent shares of the company to ensure enough supply. In addition, the company is negotiating with Chinese government about its “dual license” which may touch the red line of the mainland policy. CEO Barry Stowe said result would be heard in a few weeks. (Hong Kong Economic Journal A4)

Brilliance China (1114 HK) posted loss of 1.64 billion yuan for the year 2009, mainly due to a loss before tax of 2.698 billion yuan incurred from the sale of Zhonghua operations. No dividend was declared. The sales of BMW sedans rose 90 per cent in the first quarter this year. (Sing Tao Daily B15)

China Agri-Products Exchange (149 HK) posted loss of approximately HK$296 million for the year ended December 31, 2009, as compared to a loss of approximately HK$613 million for the same period in 2008. Turnover was approximately HK$104 million. Loss per share was HK$0.13. No dividend was declared. (Hong Kong Economic Journal P.8)

China Power (2380 HK) recorded profit of 519 million yuan for the year 2009, returning to the black. A final dividend of 0.045 yuan per share was declared. Fuel costs were 7.13 billion yuan. Turnover amounted to 10.936 billion yuan. (Hong Kong Economic Times A10)

China Wireless (2369 HK) saw net profit of HK$240 million for the year 2009. A final dividend of 3 HK cents per share was declared. Turnover climbed 1.58 times to HK$2.6 billion. The company expects average selling price and gross profit margin to be under pressure on increased competition this year. (Hong Kong Economic Times A12)

Luks Group (366 HK) saw net profit attributable to shareholders of HK$107 million for the year ended December 31, 2009, down 65.7% year on year. Earnings per share were 20.9 HK cents. A final dividend of 6 HK cents per share was declared. (Hong Kong Economic Journal P.8)

Ping An (2318 HK) saw net profit of 13.883 billion yuan for the year 2009, up 8.79 times, mainly lifted by increased revenue from insurance business and investment. Earnings per share were 1.89 yuan. A final dividend of 0.3 yuan per share was declared. (Sing Tao Daily B15)

Techtronic Industries (669 HK) posted net profit of HK$491 million for the year ended December 31, 2009, up 1.8 times. Earnings per share were HK31.87 cents. A final dividend of 4.5 HK cents per share was paid. Net gearing was down from 89.9 per cent to 68.7 per cent. (Hong Kong Economic Journal P.8)

Carpenter Tan Holdings (837 HK), a Chinese wooden handicraft producer, said it plans to add 60 shops this year and 30 high-end accessory stores before the end of 2011. Carpenter Tan posted a profit of 45.9 million yuan for the year 2009, surging 77.5 per cent. A final dividend of 10.45 HK cents was declared. (Hong Kong Economic Times A14)

China High Speed Transmission (658 HK) posted a 40 per cent increase in profit, totalled 966 million yuan, for the year 2009. The profit will reach 1.106 billion yuan, up 1.293 times, if excluding the changes in fair values of convertible bonds and gain on equity swap and the related transaction cost. Earnings per share were 0.3 yuan. No final dividend was declared. (Sing Tao Daily B17)

China National Building Material Company (3323 HK) posted a profit of 2.352 billion yuan for the year 2009, up 56 per cent compared with a year ago. Earnings per share were 96 fens. A final dividend of 7 fens per share was declared. (Sing Tao Daily B17)

China Pacific Insurance (Group) Co., Ltd. (2601 HK) said 2009 profit jumped 1.86 times to 7.356 billion yuan, compared with 2.569 billion yuan last year, driven by strong investment income and business growth. Earnings per share were 0.95 yuan. A final dividend of 0.3 yuan per share was declared. (Hong Kong Economic Journal A14)

Shanghai Jinjiang Hotels (2006 HK) posted a profit of 119 million yuan for the year 2009, down 56 per cent year on year. Turnover declined 2.4 per cent to 3.32 billion yuan. Earnings per share were 2.6 fens. A final dividend of 2 fens per share was declared. (Hong Kong Economic Journal P12)

Swire Pacific Limited (19 HK) announced that the company’s shareholders will be entitled to 1 Swire Properties Share for every 10 ‘A’ shares held and 1 Swire Properties Share for every 50 ‘B’ Shares held. After the spin-off, the company will own over 80 per cent stake in Swire Properties. (Sing Tao Daily B18)

Zhuzhou Csr Times Electric (3898 HK) posted a profit of 152 million yuan for the first quarter this year, jumping 87 per cent compared with the same period in 2009. The company earned 530 million yuan last year, up 26 per cent. Earnings per share were 0.49 yuan. A final dividend of 0.195 yuan per share was declared. (Sing Tao Daily B17)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 15th, 2010

Agile Property Holdings Limited (3383 HK) posted a 66 per cent slump in profit of 1.865 billion yuan. The profit increased 41 per cent if excluding the profit arising from a one-off disposal of 30 per cent equity interest in Hainan Clearwater Bay in 2008. Earnings per share were 51.8 fens. A final dividend of 12.2 cents per share was declared. (Sing Tao Daily B4)

BaWang Group (1338 HK) reported last year profit of 364 million yuan, declaring a final dividend of 4.25 HK cents per share and special dividend of 4.25 HK cents per share. Revenue was 1.756 billion yuan, up 24.4 per cent. (Hong Kong Economic Times A12)

CNOOC Limited (883 HK), China's biggest offshore energy explorer, is mulling on acquiring 40 per cent stake in a Brazil oil deposit from Norway's Statoil ASA. Sinopec Group is also interested in this deal. (Sing Tao Daily B4)

China Corn Oil Company Limited (1006 HK) earned HK$120 million for the year 2009, up 3.14 per cent year on year, which is better than its expectation. Earnings per share were 36.17 fens. No final dividend was declared. (Sing Tao Daily B4)

Mainland top ten sweet wine producer Tontine Wines (389 HK) saw 2009 net profit surge 27.3 per cent to 170 million yuan, with earnings per share 12.7 fen and final dividend 2.53 fen per share. Revenue rose 20.1 per cent to 580 million yuan and gross profit margin rose to 57.9 per cent on the back of sales increase and cost control, chairman Wang Guangyuan said. (Hong Kong Economic Journal P.10)

Haisheng Juice (359 HK) is aiming to expand its market share in the North American and Russian by 30 per cent to at least 50 per cent in the coming three to five years. The company posted over 1 billion yuan sales revenue in the North American market last year, accounting for 70 per cent of the Group’s turnover. (Hong Kong Economic Journal P.6)

City Telecom (H.K.) Limited (1137 HK) will raise up to HK$47 million through issuing an underwritten public offering of up to 3.5 million American Depositary Shares (ADSs). The company also posted a 50 per cent growth in revenue for the six months ended 28 February 2010. (Sing Tao Daily B5)

Dongfang Electric (1072 HK) achieved net profit of 1.572 billion yuan, surging 9.3 times. Earnings per share were 1.76 yuan, up 8.3 times year-on-year. A bonus issue on the basis of 10 bonus shares and a cash bonus of 1.6 yuan for every 10 shares held were declared. (Hong Kong Economic Journal P.10)

FIH (2038 HK) posted earnings of US$38.58 million for the year 2009, down 68 per cent year-on-year. Turnover dropped 22.2 per cent to US$7.214 billion. Gross profit margin was down to 5.9 per cent due to lower mobile sales, insufficient consumer confidence and increased operating costs. (Hong Kong Economic Times A12)

Controlling holder of Joyce Boutique Holdings (647 HK), which retails designer brands including Balenciaga and Jil Sander, failed for the second time in privatisation of the company. The proposal was objected by 99 per cent of the voting minority shareholders, saying the offering price is too low. (Sing Tao Daily B4)

Ming Fung Jewellery Group (860 HK) plans to raise HK$193 million though placing 297 million shares at a price of HK$0.67 per share. The placing price is 15.19 per cent lower that the benchmarked closing price of HK$0.79 per share. (Sing Tao Daily B4)

NetDragon (777 HK) posted for the year ended 31 December 2009 profit of 87.1 million yuan, down 63.6 per cent, with earnings per share16.57 fen and final dividend HK$0.05 per share. Turnover was 620 million yuan. (Hong Kong Economic Journal P.10)

Orient Overseas (International) Ltd., (316 HK) Hong Kong's biggest container line, said container transport profit rises 19 per cent to $1.134 million in the first quarter this year compared with the same period in 2009. (Sing Tao Daily B4)

Shui On Land’s (272 HK) profit climbed 49 per cent to 2.673 billion yuan last year. A final dividend of HK$0.12 per share is recommended. Gross profit margin was 52 per cent, up 2 percentage points, lifted by the company’s three-year plan. (Hong Kong Economic Times A10)

Sijia Group Co., (1863 HK) a mainland producer of reinforced materials and biogas tanks, will start initial public offering today at a price of HK$3.28 per share. The company said it has recorded enough international subscription. (Sing Tao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 14th, 2010

IPO: O-Net Communications (Group) Ltd., subsidiary of Great Wall Technology Company Limited (0074), is planning to list on Hong Kong bourse to raise as much as HK$560 million. The initial public offering price is set at around HK$1.7 to HK$2.9. (Sing Tao Daily B4)

City Telecom (H.K.) Limited (1137 HK) said it will cut service fee of 1Gbps residential broadbank Internet access to HK$199 per month. Experts said that due to the service’s limited accessing areas, it is not a real threat to the market. (Sing Tao Daily B4)

Billionaire Li Ka-Shing bought 110,000 shares on April 8 and another 50,000 shares on April 12 in Cheung Kong Holdings (1 HK). He now owns 41.77 per cent stake in the company. (Sing Tao Daily B4)

China Merchants Bank (3968 HK), the nation's fifth-largest bank by market value, said it is expecting to see net interest margin continue to rebound this year, following the consecutive NIM growth since the third quarter last year, according to its CEO. (Sing Tao Daily B3)

China Metal Recycling Holdings (773 HK), the country's largest recycler of scrap metal, agreed to buy CECIC (Tianjin) Ivestment Group, one of the largest scrap metal processing company in northern China with a annual sales of above 600,000 tonnes. (Sing Tao Daily B4)

CLP (2 HK) was to sell 70% interest in the 600-megawatt Anshun II Power Station in Guizhou province to China Guodian Corp. for 750 million yuan through a share-transferring contract between a wholly-owned subsidiary and the company. CLP would own 4,600 MW of generating capacity in the mainland after the deal, including 900 MW in renewable-energy projects. (Hong Kong Economic Journal P.9)

Dongfeng Motor Group Company (489 HK), the Chinese partner of Nissan Motor Co., Honda Motor Co. and PSA Peugeot Citroen, said its automobile sales surged 78 per cent in the first quarter compared with the same period last year. The company has sold over 470,000 cars in total this year. (Sing Tao Daily B4)

Evergrande Real Estate Group Ltd (3333 HK) has announced that it plans to issue US$600 million in senior secured notes to Chinese Estate Holdings, according to its CEO. The company has an abundant cash amount of HK$18 billion in total, which will be used for property developments and acquisitions. (Sing Tao Daily B3)

Glorious Property Holdings Ltd. (845 HK) said today that it will begin marketing of a proposed issue of senior notes, with the pricing and principal amount estimated by the market to be around $300 to $500 million. (Sing Tao Daily B4)

HKEx (388 HK) had signed an agreement with SZSE for a market data collaboration programme, effective on 1 May. The programme was to help investors investing in both markets gather more information needed. (Hong Kong Economic Times A14)

Mainland property agency Hopefluent (733 HK) saw a profit of HK$125.6 million for the year 2009. Farnings per share were 42.4 HK cents. A final dividend of 9 HK cents per share was declared. (Hong Kong Economic Times A12)

The Saudi British Bank, with 40 per cent of its interest held by HSBC (5 HK), saw a net profit of US$166 million for the first quarter this year, down 18.3 per cent over the same period last year, if measured in dollars, on contracting average asset balances. Customer deposits and loans and advances to customers dropped 6.8 per cent and 4.5 per cent separately during the period. (Hong Kong Economic Journal P.9)

Hutchison China Meditech Limited (13 HK), a subsidary of Hutchison Whampoa Limited which mainly produces pharmaceutical products, said revenue from healthcare products reached $93 million last year, but the company may lose $40 million if it keeps on researching. (Sing Tao Daily B4)

Driven by a sharp rise in net investment income, PICC P&C (2328 HK) reported a net profit before tax of 2.167 billion yuan. Net profit as a result climbed 15.36 times to 1.783 billion yuan. No dividend would be paid. (Hong Kong Economic Times A12)

Xiamen International Port (3378 HK) posted net profit of 205 million yuan for the year 2009, down 45.5 per cent year on year, partly due to decreased revenue from container business. A final dividend of 0.05 yuan per share was declared. (Hong Kong Economic Times A14)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 13th, 2010

IPO: Pharmaceutical producer Lansen Pharmaceutical Holdings, owned by Cathay International Holdings, a London-listed cooperation that invests mainly in healthcare sectors in China, said it would raise HK$557 million through a flotation on Hong Hong bourse. (Sing Tao Daily B2)

IPO: UK insurer Prudential will follow the way of Fortune Real Estate Investment Trust (0778) to transfer shares to Hong Kong in groups instead of individually to save service charges and make sure there will be enough share liquidity when its listing launches. (Sing Tao Daily B2)

Dragged by narrower net interest spread, CM Bank (3968 HK), sixth largest banks in the mainland by assets, dropped by 13.48 per cent in 2009 profit to18.235 billion yuan. Earnings per share were 0.95 yuan. A final dividend of 0.21 yuan per share would be paid. Dividend payout ratio was 22 per cent. (Hong Kong Economic Journal P.4)

China Petrochemical (386 HK), the Beijing-based company known as Sinopec Group, will buy about 9 percent of oil-sands producer Syncrude through its unit Sinopec International Petroleum Exploration & Production Co. (Sing Tao Daily B2)

China Communications Construction (1800 HK) said it would reorganize one of its subsidiaries to focus on property development. The company will achieve revenue of at least 2 billion yuan through its property development business after the reorganization. (Sing Tao Daily B4)

China Southern Airline (1055 HK) is planning to invest more in developing hubs of Shenzhen, Hainan, Xingjiang and Shanghai. The company will double its market share by 40 per cent in both Shenzhen and Hainan after the development, according its CEO. (Sing Tao Daily B4)

China Uptown Group Company (2330 HK) announced that it might suffer huge loss for the six fiscal months ended 31 December 2009, mainly affected by the loss on disposal arising from certain investment projects in order to improve the overall liquidity of the group. (Sing Tao Daily B4)

Dongfeng Group (489 HK) posted turnover of 91.8 billion yuan for the year 2009, up 30 per cent. Net profit climbed 58 per cent to 6.25 billion yuan. Earnings per share were 72.54 cents yuan. A final dividend of 9 fens yuan per share was declared. (Hong Kong Economic Journal P.6)

Enviro Energy International Holdings Limited (8182 HK) sold 8.2 per cent of its current shares to Cheung Kong Infrastructure Holdings (1038) before mid-April for HK$176 million. The company said it would cooperate with Cheung Kong Infrastructure in several green energy development projects. (Sing Tao Daily B4)

Fortune REIT (778 HK), the Singapore-listed real estate investment trust managing shopping malls in homes projects developed by Cheung Kong (0001), recorded more than 10 per cent rent growth in relet contracts. The company will be listed next Tuesday. (Sing Tao Daily B2)

GD NY Logistics (3399 HK) saw turnover for 2009 dropped by 19 per cent to 6.2 billion yuan, due to a drop in industrial material prices. Results for the year sank into the red and recorded a loss of 190 million yuan as provision of 480 million yuan was made during the period. No final dividend would be paid. (Hong Kong Economic Journal P.6)

Honghua Group (196 HK) sank into the red and recorded a loss of 127 million yuan for the year 2009 amid weak demand on oil. Revenue was 1.96 billion yuan, down 59 per cent. Gross margin was 26.4 per cent, dropped by 2.2 percentage points. No final dividend would be paid. (Hong Kong Economic Journal P.8)

K. Wah International (173 HK) recorded net profit of HK$916 million for the year 2009. Core earnings were HK$700 million, up 6.8 times year-on-year. The company would launch items totaled 160 thousand square meters in Hong Kong and mainland this year. A final dividend of 10 HK cents per share was declared. (Hong Kong Economic Times A13)

Shimao Property (813 HK) reported net profit of 3.511 billion yuan for the year 2009, up 3.17 times. The company expected to achieve its sales target of 30 billion yuan this year. A final dividend of 23 HK cents per share was declared. (Hong Kong Economic Times A13)

Xiwang Sugar (2088 HK), largest crystalline glucose in the PRC, posted net profit of 100 million yuan for the year 2009, up 60 per cent. Earnings per share were 0.12 yuan and final dividend of 0.037 yuan per share would be paid. The company was expanding into the pharmaceutical sector. (Hong Kong Economic Journal P.4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 12th, 2010

AviChina Industry & Technology (2357 HK) recorded profits for the first time in three years. Net profit amounted to 160 million yuan. Earnings per share were 3.5 fens yuan. No final dividend would be paid. The company lost 1.06 billion yuan in 2008. (Hong Kong Economic Journal P.9)

China Communications Construction (1800 HK) reported a net profit of 7.2 billion yuan for 2009, up 19 per cent. Earnings per share were 49 fens yuan. The value of new contracts amounted to 360.3 billion yuan, an increase of 27 per cent. A dividend of 11.6 fens yuan per share was declared, up 18 per cent. (Sing Tao Daily B4)

China Southern Airlines (1055 HK) earned 330 million yuan in 2009 while in 2008 the company lost 4.8 billion yuan. Operating revenue was 56 billion yuan, down 0.68 per cent. Earnings per share were 5 fens yuan. No dividend will be declared. (Sing Tao Daily B3)

Chongqing Machinery & Electric’s (2722 HK) turnover for 2009 reached 6.893 billion yuan, up 15.9 per cent. Net profit was 594 million yuan, up 18 per cent. Earnings per share achieved 0.16 yuan while final dividend of 6 fens yuan was declared. (Hong Kong Economic Journal P.10)

Daphne International’s (210 HK) 2009 full-year profits dropped 2 times to HK$394 million including fair value loss on warrants issued to TPG of HK$200 million. Earnings per share were 24 HK cents. Final dividend of 5 HK cents per share was declared, up 67 per cent. (Sing Tao Daily B4)

Evergrande Real Estate ‘s (3333 HK) net profit for the year 2009 near doubled to1.046 billion yuan year-on-year. Earnings per shear were 7.4 fens yuan. Final dividend of 0.7 fens per share was declared. (Sing Tao Daily B2)

Geely Automobile (175 HK) posted record profit of 1.182 billion yuan for the year 2009, surging 35 per cent. Earnings per share were 17 fens yuan. Final dividend of 2.3 HK cents per share was declared, up 44 per cent. (Sing Tao Daily B3)

Glorious Property (845 HK) recorded in 2009 net profit of 2.366 billion yuan, up 88.54 per cent year-on-year. Earnings per share were 0.38 yuan. Sales revenue increased 56.3 per cent. Final dividend of 3 fens per share was declared. (Sing Tao Daily B2)

Longfor Property’s (960 HK) net profit for the year 2009 climbed 5.66 times to 2.2 billion yuan. Earnings per share were 53.5 fens yuan. Excluding the net impact of investment property revaluation gain, core attributable profit also surged 5.4 times to 1.61 billion yuan. Final dividend of 6.3 fens per share was declared. (Sing Tao Daily B2)

Shandong Chenming Paper (1812 HK) saw around 862 million yuan in 2009 profits, down 21.8 per cent, with turnover around 14.8 billion yuan. Final dividend of 0.30 yuan per share was declared. (Sing Tao Daily B3)

Shandong Xinhua Pharmaceutical (719 HK) recorded a net profit of 99.68 million yuan for the year 2009, up 2.3 times. Earnings per share were 21.8 fens yuan. Final dividend of 5 fens yuan per share was declared. (Hong Kong Economic Journal P.7)

Shanghai Electric’s (2727 HK) net profit declined by 4.4 per cent to 2.453 billion yuan. Turnover was down by 2.4 per cent to 57.622 billion yuan. Earnings per share achieved 19.62 fens yuan. Final dividend of 5.88 fens yuan was declared. (Hong Kong Economic Journal P.9)

Shell Electric Mfg. (81 HK) saw a loss of HK$280 million for the year 2009. No dividend will be declared. The company proposed to change its name to “China Overseas Grand Oceans Group Limited”. (Hong Kong Economic Journal P.8)

Tencent (700 HK), a firm that is holding over HK$10 billion cash, announced yesterday its biggest overseas investment plan since its listing. The company is to buy 10.26 per cent economic interest in Digital Sky Technologies for HK$2.328 billon. After the deal, it will become one of the shareholders of Facebook indirectly. (Hong Kong Economic Times A12)

UC RUSAL’s (486 HK) net profit for 2009 was US$821 million. Earnings per share were 6 US cents. No final dividend will be declared. (Sing Tao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 9th, 2010

China Resources (597 HK) Microelectronics posted a turnover of HK$3 billion, a slight drop of 2.6 per cent compared with a year ago. The company lost HK$182 million in 2009, including a HK$190 million impairment loss on its investment in CSMC Asia. (Hong Kong Economic Journal P6)

China Travel International Investment Hong Kong (308 HK) is planning to list its superior business on Hong Kong bourse and the proposal is likely to be announced this year. The company will also focus more on financing activities, including a five-star hotel project in northern China and a property development in Zhuhai, according to its CEO. (Hong Kong Economic Times A10)

China Pharmaceutical Group (1093 HK) recorded a 3 per cent increase in revenue for the year 2009, amounting to HK$7.037 billion yuan. The capital expenditure of this year will be HK$600 million yuan, HK$200 of which will be used for new product developing. Earning per share were 63.24 HK cents. A final dividend of 24 HK cents per share was declared. (Hong Kong Economic Times A10)

Li Ning Company (2331 HK), a Chinese sports-shoe and clothing maker founded by a former Olympic gymnast, said the amount of orders increase 20 per cent in the third quarter compared with that of 2009. The retail price of clothes products rises 7.6 per cent and the shoe products goes up 1.1 per cent. (Sing Tao Daily B3)

Mainland developer Shenzhen Investment (604 HK) said its sale target this year is 4.5 billion yuan and the average price of the residential projects will be 10,000 yuan per square meter. The company also said it aims to raise 3.8 billion yuan via H shares for property development this year. (Sing Tao Daily B3)

Sing Tao News Corporation (1105 HK) turns to black with a profit of HK$114 million last year compared with a loss of HK$142 million in 2008. Earnings per share were 14.32 HK cents. A total dividend of 4 HK cents per share including final dividend of 3 HK cents per share was declared. (Sing Tao Daily B3)

Tianjin Development Holdings (882 HK) posted a net loss of HK$195 million last year, compared with a gain of HK$525 million a year ago, mainly due to a one-off impairment loss in the roll roads operation. No final dividend was declared. (Hong Kong Economic Times A10)

For the cement equipment business, China National Materials (1893 HK) received orders of around 50 billion yuan ended December 2009. Among the orders, around 37.5 billion yuan was overseas orders and 12.5 billion yuan was domestic orders. (Hong Kong Economic Times A13)

First Tractor (38 HK) reported a net profit of 244 million yuan for the year 2009, up near 2.6 times, helped by a rise in operating revenue by 13.1 per cent. A final dividend of 12 fens yuan per share was recommended. (Hong Kong Economic Times A13)

GOME Electrical Appliances (493 HK) saw a profit of 1.409 billion yuan, up sharply by 34 per cent. Nomura raised its target price for the company to HK$4.1. Its share price closed at HK$2.94, up 2.8 per cent. (Hong Kong Economic Times A12)

Harbin Power Equipment (898 HK) posted a net profit of HK$424 million for the year 2009, up 7.33 times. A final dividend of 0.5 HK cents per share was proposed, up 11 per cent form the same period last year. (Sing Tao Daily B11)

Oriental Explorer (430 HK) returned to the black and recorded a net profit of HK$34.35 million for the year 2009. No final dividend was declared. (Sing Tao Daily B11)

Ping An Insurance (2318 HK) said it expected to post a net profit of 11.83 billion yuan for the year 2009, surging around 44 times from the 268 million yuan recorded in 2008. (Hong Kong Economic Journal P.4)

Powerlong Real Estate (1238 HK), listed since October last year, posted a net profit of 3.04 billion yuan, up 2.26 times. Revenue for the period rose 1.6 times to 4.14 billion yuan. A final dividend of 6 fens yuan was recommended. (Hong Kong Economic Times A13)

Xtep International (1368 HK) said purchasing orders secured for the first three quarters of 2010 rose by 21 to 22 per cent year-on-year. The company expects another 20 per cent increase for the forth quarter. The company is planning to open 800 to 1,000 stores across 2nd-3rd tier cities in the country this year, including five to eight would be flagship stores. (Sing Tao Daily B11)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 8th, 2010

Beijing North Star Company (588 HK) said net profit climbed 34 per cent to 1.21 billion yuan last year from 2008 thanks to the strong growth in property developing business. Fair value gains on investment properties declined 60 per cent. The company also said the government would not impose special consumption tax on property national wide shortly. (Sing Tao Daily B3)

China Healthcare Holdings (673 HK), a healthcare and consumer services company mainly focused on mainland China, jumped 42.5 per cent to HK$0.57 after announcing to acuire biothchnology asset for $73 million yesterday. (Sing Tao Daily B4)

The nation’s biggest insurer China Life Insurance (2628 HK) said it intends to invest shares of Agricultrual Bank of China, the state-owned lender to raise up to US$30 billion in a flotation this year. The company also said it will not withdraw its investment in Sino-Ocean Land. (Sing Tao Daily B4)

China National Materials (1893 HK) announced its Q1 earning forecast of over 140 million yuan, surging over 130 per cent compared with that of the same period in 2008. The company contributes the increase to the revenue increase and better-cost control. (Hong Kong Economic Journal P.8)

China Overseas Land & Investment (688 HK), controlled by the nation’s construction ministry, said sales of properties in the first quarter jumped 48 per cent to 13.73 billion yuan from the same period in 2008. (Sing Tao Daily B3)

China Travel International Investment Hong Kong Limited (308 HK) posted a 90 per cent slump in net profit to HK$28.1 million last year, as international financial crisis and outbreak of H1N1 swine flu dragged down its core travel business. Earning per share was 49 HK cents. No final dividend was declared. (Sing Tao Daily B3)

Emperor Watch & Jewellery Limited (887 HK) announced that the company has entered into a formal agreement with the globally renowned hedge-fund firm D. E. Shaw Composite Portfolios, L.L.C., as well as Shikumen Special Situations Fund and Main Wealth Enterprises Limited, for the issue of convertible bonds on April 7, 2010. (Sing Tao Daily B3)

Department store chain Intime Department Store (1833 HK) recorded a net profit of 463 million yuan for the year 2009, up 23 per cent. Earnings per share were 0.26 yuan. A final dividend of 0.032 yuan per share was declared. (Hong Kong Economic Journal P.6)

Shenzhen Investment (604 HK) recorded a net profit of HK$990 million for 2009, up 13 per cent, and a turnover of HK$5.4 billion, surging 32 per cent. Earnings per share were 29.59 HK cents. A final dividend of 7 HK cents per share was declared. (Hong Kong Economic Journal P.12)

Sinolink Worldwide (1168 HK) posted a net profit of HK$1.214 billion for the year 2009, up 2.5 times. A final dividend of 3 HK cents per share was declared. Total dividend for the year dropped 40 per cent from that in 2008. The Company said it wanted to retain cash for property development. (Hong Kong Economic Times A13)

SinoMedia (623 HK) posted a net profit of 97 million yuan for the year 2009, down 19 per cent year-on-year. Net profit for the second half of the year rose 12 per cent to 85 million yuan. Gross profit margin maintained at similar level as in 2008. (Hong Kong Economic Journal P.10)

Dragged by a drop in container throughput and average unit price, Tianjin Port Development (3382 HK) sank into the red last year and recorded a loss of HK$47.814 million. No final dividend will be declared. The company recorded a profit of HK$130 million in 2008. (Hong Kong Economic Times A12)

Tsingtao Brewery Company (168 HK), Chinese beer company founded by German settlers more than a century ago said 2009 profit rose 79 percent from a year earlier to 1.25 billion yuan on increased demand and deeper cost cuts. Earnings per share were 0.95 yuan. A final dividend of 16 fens per share was recommended. (Sing Tao Daily B3)

China's biggest toilet-paper maker Vinda International (3331 HK) aims to invest HK$700 yuan to boost production in 2010 and 2011. The company's annual production capacity is set to climb to 100,000 tonnes, according to its CEO. (Sing Tao Daily B3)

ZTE (763 HK) saw a net profit of 2.46 billion yuan for the year 2009, up 48 per cent year-on-year. Revenue increased by 36 per cent to 60.27 billion yuan. A dividend of 30 cents yuan per share was proposed, the same amount as in 2008. (Hong Kong Economic Journal P.6)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 7th, 2010

Anhui Conch Cement (914 HK) expected its net profit for the first quarter of 2010 to jump 90 per cent as its sale price and sales volume went up, driven by the increases in the State’s investments in fixed assets. Net profit for the first quarter of 2009 amounted to 409 million yuan and earnings per share amounted to 0.23 yuan. (Hong Kong Economic Journal P.8)

Anhui Expressway (995 HK) said it earned a net profit of 667 million yuan last year, a slight drop of 0.4 per cent from 2008. The company’s toll income surged 18 per cent in the first quarter and will reach 1.8 billion yuan this year, as mainland economy is recovering rapidly. (Sing Tao Daily B3)

Beijing North Star Company (588 HK) posted a net profit of 5.8 billion yuan for the year 2009, up 30 per cent year on year. Earnings per share were 44.86 fens. A final dividend of 3 fens per share was declared. (Sing Tao Daily B3)

Bonjour (653 HK) announced that it has signed a subscription agreement with Town Health International. The company is to issue 9,000,000 subscription shares to Town Health International at a price of HK$9.00 per share. (Hong Kong Economic Journal P.8)

China Eastern Airlines Co Ltd (670 HK) signed a strategic cooperation agreement with China Airlines, Taiwan province's premier airline on Tuesday to extensively cooperate on cargo flights, passenger flights, logistics, aircraft maintenance and marketing. The two carriers will extend their cooperation to some key areas such as code sharing. (Sing Tao Daily B5)

China Life Insurance (2628 HK), the nation’s biggest insurer, posted a profit of 32.881 billion yuan for the year 2009, surging 71.8 per cent year on year. The company realized investment gains of 21.2 billion yuan compared with 5.9 billion yuan of losses in 2008. Earnings per share were 1.16 yuan. A final dividend of 0.7 yuan per share was declared. (Sing Tao Daily B3)

China Merchants Bank (3968 HK) announced that it has received in total 63,704 valid acceptances and applications in respect of 1.917 billion H rights shares, approximately 426.18 per cent of the total number, more than 3 times oversubscribed. Based on the figures, 6.708 million H rights shares will be available for excess application. (Hong Kong Economic Times A15)

China National Materials Company (1893 HK) posted a net profit of 720 million yuan for the year 2009, up 27.45 per cent compared with a year ago. Earnings per share were 0.201 yuan. A final dividend of 2.5 fens per share was declared. (Sing Tao Daily B3)

Evergrade Real Estate (3333 HK), China’s third-biggest developer by market value, tops the mainland developers in the first quarter with the sales area of 1.295 million, mainly helped by profit from middle and small cities as well as increasing capital via Hong Kong listing last November. The company runs second with the sales amount of 8.53 billion yuan. (Sing Tao Daily B4)

Hidili Industry International (1393 HK) posted a net profit of 404 million yuan, down 60 per cent. Basic earnings per share amounted to 19.6 cents yuan in 2009.
A final dividend of 10 cents yuan per share was declared. (Hong Kong Economic Journal P.5)

Rumour said it that Hutchison Telecom (2332 HK) may sell its CDMA business in Thailand for 1.8 billion to CAT Telecom in the next three or four weeks. The company’s Thailand business has been suffering from loss for a long time due to the fierce mobile business competition. (Sing Tao Daily B3)

Golden Eagle Retail (3308 HK) posted a profit of 251 million yuan for the year 2009, down 59.1 per cent. The decrease was mainly because fair value changes of bond derivatives generated a loss of around 462 million yuan. Earnings per share were 0.137 yuan. A final dividend of 0.108 yuan per share was declared. (Hong Kong Economic Times A15)

GOME Electrical (493 HK) Appliances recorded a net profit of 1.4 billion yuan, up 34 per cent. Earnings per share were 0.103 yuan, up 26 per cent from 2008. No dividend will be declared. (Hong Kong Economic Journal P.6)

KWG Property (1813 HK) announced that its March presale will amount to 2 billion yuan and has already realized 36 percent of its sale target this year. The company recorded a four times surge in its first quarter sales, totalling to 3.6 billion yuan. (Sing Tao Daily B3)

Net profit of Vinda International (3331 HK) for the year 2009 jumped 1.4 times year-on-year to HK$398 million on the back of rising revenue and gross profit margin. Gross profit margin for the period increased from 21.2 per cent in 2008 to 34.2 per cent. A final dividend of 9 HK cents per share is recommended. (Hong Kong Economic Times A15)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap April 1st, 2010

IPO: French cosmetics group L'occitane will list its shares in Hong Kong to raise over HK$4.6 billion. The company will be the first Luxembourg-registered cooperation listed on Hong Kong bourse and the floatation is said to be done in May. (Hong Kong Economic Times A8)

Emperor International (163 HK) announced that it has brought a commercial unit at Emperor Group Centre from a major shareholder Albert Yeung for a consideration of HK$16.9 million. (SingTao Daily B2)

Hua Han Bio-Pharmaceutical (587 HK) plans to take its subsidiary Magic Holdings to listing in HK. Listing application has been submitted to the Hong Kong Exchanges and Clearing Limited. (SingTao Daily B2)

Shimao Property (813 HK) achieved contracted sales of 5.5 billion yuan for the first quarter this year, up 21 per cent year-on-year. Sales price on average rose to 12K per square metre from 9.94K in Q1 last year. Contracted sales volume in total was 459 thousand per square metre in Q1. (SingTao Daily B2)

Trading in the H shares of Shenyang Public Utility (747 HK) was resumed on April 1st after suspension of trading in shares for over five years. Share price closed at HK$1.15, up almost 92 per cent. Before suspension of trading in its H shares on 15th December 2004, the share price was HK$0.6. (SingTao Daily B2)

Xinao Gas (2688 HK) recorded a profit of 801 million yuan for the year 2009, up 27 per cent year-on-year. Earnings per share were 77.5 cents yuan. A final dividend of HK$21.65 cents per share was declared. (SingTao Daily B2)

Trading in the shares of Yue Yuen Industrial (551 HK) was resumed on April 1st after the company entered into agreements with Citi for borrowing of up to US$300 million. The shoemaker will receive an option premium of US$18.48 million from Citi and raise around HK$3.15 billion if options being fully exercised. (SingTao Daily B1)

Datang International Power Generation (991 HK) plans to invest an amount of 1.69 billion yuan in seven projects out of the 3.25 billion yuan of net financing from non-public issue of A shares. The projects include "Replacing Small Units with Larger Ones" expansion projects and expansion of installed capacity of power plants. (Sing Tao Daily B6)

Cheung Kong Holdings (1 HK), Hong Kong’s billionaire Li Ka-Sing’s property developer, has cashed out HK$10 billion through new property sales in the first quarter, up more than four times compared with the same period last year. (Hong Kong Economic Journal P9)

China Longyuan (916 HK), the country’s biggest wind-power producer, is building a wind-power project in South Africa. The company is also eyeing potential opportunities in countries around America and East Europe, which have good wind-power developing policy or abundant resources, according to the CEO. (Hong Kong Economic Times A9)

China Construction Bank (939 HK), the nation's second-largest lender, plans to raise about 75 billion yuan by listing new shares in Shanghai and Hong Kong this year, according to a published report Tuesday. The bank may raise up to 45 billion yuan via a private placement in Shanghai and 30 billion yuan via a rights offer in Hong Kong. (Hong Kong Economic Journal P2)

Haina Meilan International Airport (357 HK) announced that it would acquire 54.5 stake in HNA Airport, which owns 8 airports in mainland China, for 2.199 billion yuan. The company also said it will issue a special dividend of 35 fens before its A-share listing. (Hong Kong Economic Times A8)

The Chinese online-game software company Kingsoft Corporation (3888 HK) said it will focus more on online game business as the market is increasing sharply in the mainland. The company will launch four to six new online games this year, according to the CEO. (Hong Kong Economic Journal P9)

Lenovo Group Ltd., (992 HK) China's biggest personal-computer maker, said it will develop smart phone business as the wireless internet booms on the mainland. The company has bought back its handset unit last year for $2 billion. (Hong Kong Economic Journal P9)

Xinyi Glass (868 HK) said a jury in the U.S District Court issued a verdict, requesting a HK$189 million compensation, to the company’s subsidiaries for infringements of certain patents held by Saint-Gobain. (Hong Kong Economic Journal P9)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap Mar. 31st, 2010

BBMG Corp (2009 HK) announced that it has entered into a long-term strategic cooperation agreement with China Construction Bank, which allows the company to maintain 15 billion yuan credit amount in the brokerage. (Hong Kong Economic Journal P.8)

Beijing Enterprises (392 HK) recorded a profit of HK$2.4 billion for the year 2009, up 5 per cent compared with a year ago. The company is interested in A-share listing and considering selling or exchanging its highway toll business. Earnings per share were HK$2.11. A final dividend of HK$0.45 per share was declared. (Sing Tao Daily B4)

Bonjour (653 HK) recorded a net profit of HK$160 million for the year 2009, up 20.9 per cent. Payout ratio for the year was up 100 per cent. A final dividend of 32.5 HK cents per share and special dividend of 17.5 HK cents per share were declared. (Hong Kong Economic Times A12)

China Merchants Holdings (144 HK) posted a better-than-expected profit of HK$3.238 billion for the year 2009, down 12 per cent year on year, as financial crisis hurt the shipping business. Earnings per share were HK$1.33. A final dividend of HK$0.32 per share was declared. (Sing Tao Daily B2)

Comba Telecom Systems (2342 HK) posted a net profit of HK$565 million for the year 2009, surging 1.5 times. A final dividend of 8 HK cents per share and special dividend of 4 HK cents per share were declared. Bonus shares will be issued to the shareholders on the basis of 1 bonus share for every 10 ordinary shares held. (Hong Kong Economic Times A12)

China’s biggest offshore energy explorer CNOOC (883 HK) reported full-year profit of 29.486 billion yuan, down 33 per cent compared with a year ago as oil prices slumped from a record. Earnings per share were 0.66 fens. A final dividend of HK0.20 per share was declared. (Sing Tao Daily B3)

Greentown China (3900 HK) nearly doubled its first quarter sales to 7.7 billion yuan, compared with the same period a year ago. The company said its land reserve has reached over 30 million square meters after conducting several acquisitions this year. (Hong Kong Economic Journal P.8)

Hengdeli Holdings (3389 HK), the retail partner of Swatch Group AG in China, is accelerating the pace of watch-store openings after increasing demand for luxury goods has boosted first-quarter sales by 35 per cent. The company plans to open 60 stores on the mainland and Taiwan this year, according to the CEO. (Sing Tao Daily B3)

Hontex International (946 HK), suspended on Tuesday for a case of misleading information being given out, got its entire capital of HK$1 billion freezed by the SFC, an unprecedented move in decades for the market watchdog. The SFC required the company to report detailed company financial information in seven days.

Jiangxi Copper (358 HK), China’s biggest metal producer, posted a net income of 2.38 billion yuan for the year 2009, up 4.29 per cent year on year. The company is said to mull on acquiring a copper company in Shangdong province. Earnings per share were 0.79 yuan. A final dividend of 0.1 yuan per share was declared. (Sing Tao Daily B4)

Lianhua Supermarket (980 HK) posted a net profit of 507 million yuan for the year 2009, up 22.86 per cent year-on-year. Earnings per share were 81fens. A final dividend of 16 fens yuan per share was declared. (Hong Kong Economic Journal P.11)

Shanghai Industrial (363 HK), the city government’s Hong Kong-listed investment arm, recorded a 36 per cent increase of its 2009 profit, reaching HK$2.86. The company will complete the acquisition of Neo-China Land in the second quarter. Earnings per share were HK$2.65. A final dividend of 60 HK cents per share was declared. (Sing Tao Daily B2)

Trinity Limited (891 HK) posted a better-than-expected net profit of HK$179.6 million for the year 2009, up 83.3 per cent, as the market rebounded strongly in the second half. Earnings per share were 14.2 HK cents. A final dividend of 7 HK cents per share was declared. (Hong Kong Economic Times A12)

Xinao Gas (2688 HK) reported a net profit of 800 million yuan for the year 2009, up 26.9 per cent. A final dividend of 21.65 HK cents per share was declared. (Hong Kong Economic Times A12)

Yue Yuen Industrial’s (551 HK) major shareholder, Choi family, sold 30 million shares at a price ranging from 25 to 25.75 per share, raising up to HK$773 million yesterday.
The company also announced to be negotiating with a financial institution to borrow up to HK$23.28 billion. (Sing Tao Daily B1)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard