Trading in the shares of CASH (501 HK) and CFSG (1049) was suspended before opening yesterday. An independent third party intends to acquire the existing shares in CFSG from CASH or the financial services business of CFSG. CFSG signed a letter of intent with such independent third party yesterday. (Hong Kong Economic Journal P6)
Chanco International Group (264 HK) posted net profit of HK$22 million for the year ended 31 March 2010, down 40 per cent year-on-year. Turnover dropped 19.6 per cent to HK$250 million. A final dividend of 1.4 HK cents per share was recommended. (Hong Kong Economic Journal P8)
China Energine International (1185 HK) expects 1H net profit to grow over 100 per cent as compared to the profit of HK$51 million over the same period last year, mainly because the share of profit in a jointly controlled entity Delphi Wan Yuan has increased and Delphi Wan Yuan, classified as high technology enterprise since November last year, has enjoyed a reduction of income tax rate to 15 per cent from 20 per cent. (Hong Kong Economic Journal P8)
HSBC, Goldman Sachs, JP Morgan and Deutsche Bank set ratings for China Mengniu Dairy (2319 HK) at Overweight, Buy, Overweight and Buy respectively, with target prices at HK$30.5, HK$30.2, HK$30 and HK$27.8 respectively. (Hong Kong Economic Times A9)
China Unicom (762 HK) announced its operational statistics in June yesterday. There were 1.032 million new 3G service subscribers, hitting a record high, which is slightly up nearly 1 per cent from May. As for the 2G service subscribers, there were only 640,000 additions in June, falling 16 per cent from May. Aggregate number of its mobile service subscribers is 156.96 million. (SingTao Daily B2)
Hong Kong Resources (2882 HK) announced its annual results for the year ended March 31 yesterday. Profit attributable to shareholders is HK$120 million, down 55 per cent. Earnings per share were HK$0.13. A final dividend of 0.35 HK cents per share was paid. (SingTao Daily B4)
Karrie International (1050 HK) recorded a net profit of HK$12 million for the year ended 31 March 2010, falling 43 per cent year-on-year. Earnings per share were 2.17 HK cent and a final dividend of 1 HK cent per share was declared. (SingTao Daily B2)
Media China Corporation (419 HK) expects to return to the black in 1H compared to the consolidated loss over the same period in 2009, mainly because media and advertising market in the PRC has recovered and Travel Channel’s advertising sales rose over 30 per cent during the period over the same period in 2009. (Hong Kong Economic Journal P8)
Moiselle International (130 HK) reported a nearly 170 per cent growth in net profit to HK$54 million for the year ended 31 March 2010. Earnings per share were 19 HK cents. A final dividend of 10 HK cents per share was declared. Moiselle’s share price rose to HK$1.67 after the announcement of its annual results, closing at HK$1.57 with an increase by over 25 per cent. (SingTao Daily B4)
Nam Hing (986 HK) intends to acquire 9.9 per cent equity interest in a target company involved in developing exclusively approved electric vehicle battery technology. The consideration for the acquisition is HK$170 million. (SingTao Daily B2)
Ocean Grand Holdings (1220 HK) announced yesterday its results for the 15 months ended 31 March 2006 and the financial years ended 31 March 2007 and 2008. The loss recorded for the 15 months ended 31 March 2006 was more than HK$2.9 billion, while the losses for the financial years of 2007 and 2008 were around HK$170 million and 117 million respectively. (SingTao Daily B2)
Pacific Online (543 HK) expects significant increase in profit in 1H as compared to the profit of 44 million yuan for the same period last year, mainly due to the growth in its Internet advertising services. (Hong Kong Economic Journal P8)
SMI Corporation (198 HK) plans to acquire the leasing of 25 sites in the mainland intended for the operation of 25 cinemas from its substantial shareholder Qin Hui. The consideration involved will be HK$55 million. (SingTao Daily B2)
SPG Land (337 HK) signed an agreement with its business partner yesterday as stipulated that it agrees to buy the remaining 29% interest from its partner in the company holding Kunming Lake Dian Project. The consideration involved is 425 million yuan. (SingTao Daily B2)
Wah Ha Realty (278 HK) posted net profit of HK$131 million for the year ended 31st March 2010, up 14.9 times year-on-year. A final dividend of 5 HK cents per share and a special dividend of 2 HK cents per share were proposed. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
