Niu, Gensheng, chairman of China Mengniu (2319 HK), said after the AGM that Shanghai Expo boosts sales on beverages. The sales condition in the first five months this year meets its expectation, and there is growth for Mengniu every year, he added. (SingTao Daily B4)
China Resources Power (836 HK) said accumulated electricity sales amounted to 25.85 million mwh in the first five-month, up 40.9 per cent year on year and May electricity sales was 7.038 million mwh , up 31.4 per cent year on year. (Hong Kong Economic Times A10)
CHANGE OF AUDITORS First Mobile Group (865 HK) has changed its auditors PricewaterhouseCoopers. The reason for PwC’s resignation is that there is a substantial part of the professional fee for the audit of First Mobile’s 2008 consolidated financial statements has yet to be settled by the company, and this may potentially affect their independence as auditors of the company. The Board had resolved to appoint ANDA CPA Limited as auditors of the company for the financial year ended 31 December 2009. (SingTao Daily B3)
Fulbond (1041 HK) plans to purchase interests of a Xi’an commercial and residential project from its chairman Zhang Xi at the consideration of 285 million yuan. Fulbond resumed trading yesterday and the share price ended up 30 per cent to 2.6 HK cents. (SingTao Daily B3)
Kingdee International Software (268 HK) plans to establish a service team with its strategic shareholder IBM, forming an operation model as “Kingdee software plus IBM service” to provide all-in-one software service for mainland companies. Kingdee International closed at HK$2.62 yesterday, edging down 1.5 per cent. (SingTao Daily B3)
(0175) GEELY AUTOMOBILE HOLDINGS LIMITED MAY SALES UP 14.6% The total sales volume of the Group in May was around 31,000 units of vehicles, an increase of 14.6 per cent over the same period last year, but down approximately 4.3 per cent from April 2010. The total sales volume in the first five months of 2010 was around 166,000 units of vehicles, up 45.5 per cent from the same period last year. (SingTao Daily B3)
Qingdao Haier (1169 HK), 51.05 per cent owned by Haier Electronics Group, plans to increase its shareholding in Haier Electronics Group via the secondary market within the next 12-month with the approval from the board and depending on Haier Electronics Group’s share price. (Hong Kong Economic Times A10)
King Stone Energy Group (663 HK) said a subsidiary Jetway Group has entered into a framework agreement with All Aces Investments regarding to the proposed acquisition. Pursuant to the agreement Jetway Group will acquire 60 per cent equity interest in Triumph Fund A1 from All Aces Investments for 3.6 billion. (Hong Kong Economic Journal P8)
Li Ning Company (2331 HK) chairman Li Ning and his brother have bought shares in Coolpoint Energy (8032) for a total consideration of 700 million. A report from Deutsche Bank wrote the business of the latter will not include the sales of sportswear, shoes and equipment. (Hong Kong Economic Times A10)
NWS Service (659 HK) plans to acquire 8 per cent equity interest of China United International Rail Containers Co., Limited from the vendor at the consideration of 350 million. Completion of the share transfer agreement will take place upon the obtaining of all necessary approvals from the relevant PRC governmental authorities. Upon completion, NWS Service will hold an aggregate of 30 per cent equity interest in CUIRC and will remain as the second largest hareholder of CUIRC. (SingTao Daily B3)
Qin Jia Yuan Media Services (2366 HK) reported turnover of HK$249 million for the six months ended 31 March 2010, up 1.15 times year on year. Net profit was over HK$40 million. It declared an interim dividend of 1.28 HK cents per share. (Hong Kong Economic Journal P6)
SouthGobi Energy Resources (1878 HK) plans to buy up to 2.5 million shares on the Toronto Stock Exchange and the Hong Kong Stock Exchange separately, in total up to around 5 million shares or 2.7 per cent of issued shares. (Hong Kong Economic Times A10)
Tencent Holdings (700 HK) has plummeted for three consecutive days to close at HK$137.4 yesterday, down nearly 10 per cent since last Friday. It is rumoured that fund companies sold Tencent shares by large lots. (SingTao Daily B2)
United Company RUSAL Plc (486 HK) is the first Russian company trying to list in Hong Kong. Its listing process is full of twists and turns. In the end only high net worth investors are allowed to subscribe. VTB bank said that its chairman Andrei Kostin said yesterday Hong Kong should loosen terms on public offering for Russian companies. (Hong Kong Economic Times A10)
Willie International (273 HK) plans to place as much as 171 million shares at a price of HK$0.255 per placing share. The placing price of HK$0.255 per placing share represents a discount of approximately 19 per cent. The net raising amount HK$425 million will be used for general operation capital. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
