China Construction Bank (939 HK) aims to raise 75 billion yuan through rights issue. Its shareholders yesterday gave the green light to the fundraising plan at the annual general meeting, but the bank expects that it needs two month’s time for regulatory approvals. (SingTao Daily B5)
China-Hongkong (1123 HK) Photo Products posted a net profit of around HK$45 million for the year ended March 31, 2010. Earnings per share were 3.86 HK cents. A final dividend of 1.5 HK cents per share and a special one of 1 HK cent each were declared. (SingTao Daily B4)
CITIC 21CN (China) (241 HK) Technology and CITIC 21CN have to pay Beijing Oracle over 116 million yuan with interest for software license fee and supporting service fees. (Hong Kong Economic Journal P6)
Eva Precision (838 HK) expects that its profit for the six months ending 30 June 2010 to increase by not less than 7 times over the corresponding period last year, mainly due to a significant growth in office automobile system market and the expansion in China that explores the booming Chinese consumption market, etc. (SingTao Daily B4)
Fujikon (927 HK) had a net profit of HK$510 million for the year ended March 31, dropped nearly 44 per cent. Earnings per share were 12.8 HK cents. A final dividend of 5 HK cents and a special one of 3 HK cents were paid. (SingTao Daily B4)
Hutchison’s (215 HK) subsidiary 3 Hong Kong announced to launch microblogging services for star fans to receive latest microblog information from their idols through SMS. The service will be charged HK$8 per month. (SingTao Daily B4)
L’Occitane International (973 HK) reported profit of €81.6 million for the year ended 31 March 2010, up 39.8 per cent year-on-year. Net sales rose to € 612 million. Total number of retail locations also rose to 1,541. (Hong Kong Economic Times A14)
Sources says Real Gold Mining (246 HK) places shares at HK$11.88 to HK$12.35 each for over HK$926 million. Proceeds will be used for acquisition, capital spending and gold mining. Trading in the shares of the company on the Stock Exchange has been suspended starting yesterday. (Hong Kong Economic Times A14)
Sa Sa (178 HK) recorded a net profit of HK$380 million for the year ended March 31, rising 20.6 per cent year on year. Earnings per share were 27.5 HK cents. A dividend of 5 HK cents per share and a special dividend of 14 HK cents each were proposed. (SingTao Daily B5)
Shanghai Industrial Holdings (363 HK)said that it has completed the acquisition and subscription deal with Neo-China Land Group (Holdings) Limited at a price of HK$2.32 per share. Shanghai Industrial Holdings and parties acting in concert with it are currently holding around 45 per cents stake in Neo-China. Neo-China will resume trading today. (SingTao Daily B4)
Shirble Department (312 HK) Store kicks off IPO today, issuing 375 million shares at HK$2.11 to HK$2.81 each for up to HK$1.054 billion. The company is to list on 8 July. Chairman Yang Xiangbo says the company plans to open 8-10 new stores in Guangdong and Hunan in the next three years and the first one will be opened in July. (Hong Kong Economic Times A12)
Citigroup lowers rating on Sino-Ocean Land (3377 HK) from “buy” to “hold” and target price form HK$6.66 to HK$6.65, expecting the company to record sales ended end of June of 6 billion yuan only. Citigroup adds that 14-15 billion yuan would be a more reasonable full-year sales target for the company. (Hong Kong Economic Times A14)
Tai Cheung (88 HK) recorded 30 per cent net profit growth, amounting to HK$275 million for the year ended March 31. A final dividend of 17 HK cents was recommended, over 21 per cent higher from the same period last year. (SingTao Daily B4)
Wheelock Properties (49 HK) approved a proposed privatization by a shareholder yesterday. Votes cast by independent shareholders in favour of and against the proposed privatization represent respectively 98.76 per cent and 1.24 per cent of the number of shares votes were cast for. Listing of shares on the Stock Exchange is expected to withdraw on 22 July. (Hong Kong Economic Times A14)
Morgan Stanley is bullish on Wynn Macau (1128 HK), regarding the stock as its favorite short term gaming stock, expecting it to go up to HK$20. The stock closed at HK$13.75 yesterday, up over 4 per cent. (Hong Kong Economic Journal P1)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
