Thursday, July 8, 2010

Hong Kong Stock Market Wrap July 7th, 2010

Bosideng International (3998 HK) reported a net profit of 1.07855 billion yuan for the year ended 31 March 2010, up over 46 per cent year-on-year. A final dividend of 8.8 HK cents per share was recommended, rising 10 per cent over the same period of last year. (SingTao Daily B2)

FIL has decreased holding of shares in BYD Company (1211 HK) by 580,500 shares at US$7.224 each in average, taking its shareholding in the company to around 4.93 per cent. Credit Suisse sets rating for the company at “underweight”, with target price at HK$44. (Hong Kong Economic Times A10)

C C Land (1224 HK) said that the subscription sales for the first half amounted to 2.188 billion yuan in total, surging 2.32 times year-on-year. Its June contracted sales amount jumped over 5 times to 385 million yuan year-on-year. (SingTao Daily B2)

China Gas Holdings (384 HK) posted net profit of HK$876 million for the year ended 31 March 2010, surging 745 per cent year on year. A final dividend of 1.7 HK cents per share is declared. (Hong Kong Economic Journal P4)

China Lotsynergy (8161 HK) announced that its subsidiary Beijing Huacai Yingtong Technology Company Limited has been authorized and approved by Beijing Welfare Lottery Issuance Centre to develop service points in Beijing. These service points will offer sales of welfare lotteries services to users via mobile phone and telephone. (SingTao Daily B2)

China Merchants Bank (3968 HK) estimates that its net profit for the first six months ended 30 June 2010 has increased more than 50 per cent mainly due to the good performance of its development of businesses, increase in interest spread as well as growth in interest income and non-interest income. China Merchants Bank share price fell 1 per cent to close at HK$18.36 yesterday. (SingTao Daily B1)

China National Materials (1893 HK) announced that its A shares subsidiary Sinoma International Engineering Co., Ltd. may record a net profit of 316.8 million yuan for the first half, growing by over 50 per cent compared to the corresponding period of 2009. Basic earnings per share were 0.79 RMB cents. China National Materials share price closed up 1.05 per cent to HK$4.81 yesterday. (SingTao Daily B1)

China State Construction (3311 HK) International announced yesterday that contracted sales value jump 84 per cent year on year to HK$13.87 billion, achieving the 2010 full-year target of 73 per cent. Shares closed higher at HK$2.5, up 5 per cent on the news. (Hong Kong Economic Times A10)

China Sunshine Paper (2002 HK) expects 1H results may jump up by not less than 500 per cent over the same period last year according to the management accounts of the group. (Hong Kong Economic Times A10)

FU JI Food (1175 HK) and Catering Services sells part of its assets and liabilities for HK$401.27 million. The name of buyer and the date for resumption of trading in its shares are not disclosed. (Hong Kong Economic Journal P6)

Renminbi bonds issued by Hopewell Highway Infrastructure (737 HK) are oversubscribed by 1.19 times. The company decides to increase the issue amount from the original 1 billion yuan to 1.38 billion yuan, with coupon rate of 2.98 per cent. (Hong Kong Economic Journal P6)

Mascotte (136 HK) said that its net profit for the year ended March 31 was over 108 million, returning to the black. The company does not recommend any cash dividend but it proposes to issue two bonus shares for every three shares. (SingTao Daily B2)

Pak Tak International (2668 HK) posted a profit of around HK$4.98 million for the year ended March 31, increasing 11.2 per cent year-on-year. Earnings per share were 2.1 HK cents. No dividend was declared. (SingTao Daily B2)

Semiconductor Manufacturing (981 HK) plans to offer a placing of new Shares to raise up to HK$810 million. Its strategic shareholder DaTang Telecom has informed the company that it would be interested in exercising its pre-emptive right to subscribe the new shares. Apart from the portion representing its pre-emptive right, Datang also wishes to subscribe for further shares, amounting up to around US$100 million of new shares in total. (SingTao Daily B1)

Sino-Ocean Land (3377 HK) plans to acquire Kee Shing (0174) at HK$1.542 per share for HK$680 million. After the acquisition, Kee Shing will continue as a public listed company and may change its name to “Gemini Property Investments Limited”. (Hong Kong Economic Times A10)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard