Friday, April 16, 2010

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