AV Concept (595 HK) recorded a net profit of HK77 million for the year ended March 31 this year, turning losses into gain. Earnings per share were 17.8 HK cents. A final dividend of 4 HK cents was paid. (SingTao Daily B4)
BYD (1211 HK) has signed with French Compagnie Générale de Location De Equipements for setting up a joint venture company to engage in financing business for purchase of cars, which includes providing loans for new-car end users. BYD share price closed at HK$63.2 yesterday, rising 5.25 per cent. (SingTao Daily B4)
China Construction Bank (939 HK) has received an undertaking to subscribe rights shares to be issued by it from controlling shareholder Central Huijin. The latter committed to subscribe in cash in proportion to shareholding ratio all offered rights shares to be allotted to it under rights issue plan passed at the former’s 3rd board meeting in 2010. (Hong Kong Economic Journal P8)
China Mobile (941 HK) reported figures of new subscribers in May. It added 917,000 new 3G users, higher than the 713,000 new users in April. Over 10 million new users are expected this month. (Hong Kong Economic Journal P7)
China Resources (1313 HK) signed a deal with Universal Cement to acquire several subsidiaries of Universal Cement for a total consideration of HK$820 million in cash through bank credit line and internal resources. The subsidiaries are engaged in the production of clinker, cement and concrete in Huizhou and Ningbo. (SingTao Daily B5)
China Strategic Holdings (235 HK) and Primus’s acquisition of Nan Shan Life is still under the process of approval by the Taiwan regulatory authorities. China Strategic Holdings announced yesterday an agreement with AIG to extend the long stop date of the share purchase agreement from the original 12 July to 12 October. (Hong Kong Economic Times A13)
China Telecom Corporation’s (728 HK) number of new users becomes stable. It added 3.02 million new users in May, making the total number go up to 71.5 million users. (Hong Kong Economic Times A13)
Golik Holdings (1118 HK) chairman Pang Tak Chung said the company will adjust investment proportion and focus on Hong Kong market, expecting construction industry in Hong Kong to head to a 5-year golden period. (Hong Kong Economic Journal P7)
Hong Kong Economic Times (423 HK) posted a net profit over HK$85 million for the year ended 31 March 2010, up 37.7 per cent year-on-year. Earnings per share were 19.8 HK cents. A final dividend of 8.9 HK cents was declared. (SingTao Daily B4)
Hutchison Telecommunications (215 HK) major shareholder Li Ka-shing increases 1.16 million shares at an average price of HK$1.641 on June 15, amounting to HK$1.91 million. (SingTao Daily B4)
Kaisa Group Holdings (1638 HK) announces a transfer of 566 million shares as the IPO shortfall shares to investors on 10 June pursuant to a share purchase agreement with certain institutional investors, including Temasek and Credit Suisse, in 2007. (Hong Kong Economic Times A13)
K.P.I. Company (605 HK) will concentrate on developing convenience stores business in Beijing. General manager Tao Ye said the company will put more resources in businesses in Beijing such as fast food and electronic commerce service businesses, adding that 30 convenience stores will be opened in Beijing this year. (Hong Kong Economic Journal P8)
Lee & Man Paper (2314 HK) reported a net profit of HK$1.833 billion for the ended 31 March, 2010, surging over 5 times, mainly due to the increase of both production capability and income. Earnings per share were 40.3 HK cents. A final dividend of 8 HK cents was declared. (SingTao Daily B5)
Link Real (823 HK) will appoint Andy Cheung Lee Ming as its executive director next Monday. The compensation payable to Cheung will be HK$3 million per annum together with a discretionary bonus in the range of 30-75 per cent of his base salary. (SingTao Daily B4)
Xiwang Sugar (2088 HK) first 5-month net profit jumped 70-fold from first 6-month in the previous year. It is expected that net profit for the first half this year will have substantial growth. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
