Friday, April 9, 2010

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