AAC Acoustic (2018 HK) recorded net profit of 169 million yuan in the first quarter, up 1.25 times year-on-year. Earnings per share were RMB13.84 cents, up 1.26 times. (Sing Tao Daily B4)
Alibaba.com Limited (1688 HK) said its Taobao.com, China's largest online C2C retail sale website, will team up with Yahoo Japan to build a transactional online shopping platform in June 1, where Taobao and Yahoo Japan will sell up to 800,000 and 500,000 products respectively via translated Japanese and Chinese WebPages. They will help small business in both countries gain a faster recovery from the financial crisis, according to their joint announcement. (Hong Kong Economic Journal P9)
(0293) CATHAY PACIFIC AIRWAYS LIMITED SAID FIRST-HALF BUSINESS TO BE STRONG The company yesterday announced that it expects strong financial results for the first half this year, as cargo and premium passenger revenues continue to improve. Since March, the company’s trading position has been strong, especially on the cargo side, it said. But they also reminded that the results would be adversely affected by a significant increase in fuel prices. (Hong Kong Economic Times A12)
China State Construction International Holdings (3311 HK) said new contract amount for the first four months this year rose 64.1 per cent to HK$9.27 billion, which account for 48.8 per cent of the whole-year target, mainly helped by strong contract amount growth on mainland. New contract amount on mainland surged 389.8 per cent to HK$6.27 billion in the last four months, the company said. (Hong Kong Economic Times A12)
China Oilfield (2883 HK) may issue not more than 500 million A shares to raise not more than 7 billion yuan. A portion of new A shares will be offered to existing shareholders. Proceeds raised will mainly be used for building oilfield service vessels, 200 feet jack-up rigs and deep-water AHTS vessels.
Convenience Retail Asia (8052 HK) saw Q1 net profit climb 1.43 times over the same period last year to HK$33 million. Earnings per share were 4.63 HK cents. No dividend was declared. Revenue was HK$814 million, up 1.7 per cent year-on-year. (Sing Tao Daily B4)
CLP (2 HK) posted revenue from Hong Kong electricity business of HK$6.335 billion, up 6.1 per cent in the first quarter. Total revenue was HK$13.394 billion, up around 21 per cent. Interim dividend of HK$0.52 was declared. (Sing Tao Daily B4)
MelcoLot (8198 HK) lost approximately HK$33 million in the first quarter. Loss per share was 6.6 HK cents. No dividend was declared. (Sing Tao Daily B4)
Eva Precision Industrial Holdings Limited (838 HK) said the company has passed all tests on and reached all the required technical stardards of an office automation product for a customer. The company will gain large purchase orders for as much as HK$3.6 billion. in the next four years. (Hong Kong Economic Journal P9)
PLACES AROUND 723M SHARES Mei Ah Entertainment (391 HK) places around 723 million shares, lower than the 962 million shares originally planned, at a price of HK$0.208 per share to raise HK$150 million. The placing shares represent about 12.83 per cent of the issued share capital as enlarged.
Sandmartin International (482 HK) announced that 10 shareholders intend to transfer 80 million shares to the depository bank for the proposed issue and offer of 80 million TDR in Taiwan. Major shareholder Hung Tsung Chin has not decreased his holding but other major shareholders Wang Yao Chu and Liao Wen I have decreased holdings to 13.94 per cent and 8.57 per cent respectively. (Hong Kong Economic Journal P.9)
Sino Prosper State Gold Resources Holdings (766 HK) said the nearly HK$529 million placing shares were issued at a price of 19 HK cents, higher than expectation. He disclosed that the placees this time are five top institutional investors, including FIL Investment Management (Hong Kong) Limited (Fidelity), Och-Ziff Capital Management Hong Kong Limited, Invesco Hong Kong Limited and a number of other major international and Hong Kong funds. (Hong Kong Economic Journal P9)
Yue Yuen Industrial (Holdings) Limited (551 HK) said turnover last month rose 14 per cent to $458 million. The company said turnover for the last four months this year amounted to $1.82 billion, up 13 per cent. (Hong Kong Economic Journal P9)
Zhejiang Expressway (576 HK) posted net profit of 418.4 million yuan for the three months ended March 31, up 16 per cent. Earnings per share were 9.64 fen. No dividend was declared. (Sing Tao Daily B4)
Zijin Mining (2899 HK) and CAD Fund will acquire Platmin Congo (BVI) for 284 million dollar and form a JV company, 60 per cent owned by Zijin Mining, responsible for the acquisition. Zijin Mining will pay 170 million dollar for the transaction in proportion to the number of shares held. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
