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
