Hong Kong Stock Market Wrap August 30th, 2010

IPO: China Medical System plans to start IPO on 15 Sep and list in Hong Kong on 28 Sep. The company plans to raise HK$780 million to HK$1.17 billion. UBS expects its profit to grow 60 per cent and 28 per cent in 2010 and 2011 respectively. (Hong Kong Economic Times A7)

IPO: MicroPort Medical plans to start IPO in Sep and list in Hong Kong in late Sep. It plans to raise around HK$1 billion. (Hong Kong Economic Times A7)

Brightoil (933 HK) Petroleum aims to acquire five vessels, with each unit carrying 318,000 DWT class crude oil. The consideration will be HK$4.2 billion that is expected to be funded by bank financing and internal resources. (SingTao Daily B3)

China BlueChemical’s (3983 HK) net profit amounted to 533 million yuan in 1H. Revenue was 2.955 billion yuan. Gross profit rose 6 per cent to 911 million yuan. Basic earnings per share was 0.12 yuan. Citigroup sets Buy rating on the company, with target price at HK$6.4. (Hong Kong Economic Journal P2)

China Green (904 HK) booked net profit of 575 million yuan in full-year results, up 27 per cent. Final dividend of HK$0.09 per share was proposed. Shares closed HK$6.98 yesterday, up 26 per cent. (Hong Kong Economic Times A9)

China Merchants (144 HK) recorded a net profit of HK$1.929 billion for the six months ended June 30, surging 56.1 per cent. Revenue totaled HK$12.14 billion, soaring 50.9 per cent. Earnings per share went up 55.45 per cent to 79.25 HK cents. An interim dividend of HK$0.25 was declared. (SingTao Daily B3)

(0235) CHINA STRATEGIC HOLDINGS LIMITED MEDIA SAYS OTHER INVESTORS MAY BUY NAN SHAN - The acquisition of Taiwan Nan Shan Life Insurance is still pending approval. It is reported that there might be investors from Japan and Middle East in race to acquire the Taiwan life insurer. They might buy the equity interest in Nan Shan for US$2.5 billion, which is higher than the US$2.15 billion offered by China Strategic, foreign media reports. (SingTao Daily B3)

Chinese Estates (127 HK0 core profit went down 73 per cent to HK$199 million in the first half. Loss attributable to equity holders amounted to HK$3.207 billion, sinking into the red. Loss per share was HK$1.65. Core earnings per share plunges 71 per cent to HK$0.103. No interim dividend was paid. (SingTao Daily B2)

1H NET UP 3.66X Evergrande Real Estate (3333 HK) profit attributable to shareholders jumped 3.66 times to 2.33 billion yuan for the first half. Gross profit surges 8 times to 4.95 billion yuan. Revenue went up 11.42 times to 20.37 billion yuan. Earnings per share amounted to 16 fen, up 3 times over the same period a year ago. (SingTao Daily B2)

SFC has alleged that the IPO prospectus of Hontex International (946 HK) contained materially false or misleading information. The company issued an announcement yesterday, admitting that reliance cannot be placed upon the statements made in the IPO prospectus and concluding that investors should be compensated. (Hong Kong Economic Times A7)

Shenguan Holdings (829 HK) posted a 72 per cent jump in net profit to 220 million yuan for the six months ended June 30. Earnings per share amounted to 13.39 fen and an interim dividend of 6 HK cents was distributed. (SingTao Daily B3)

SJM (880 HK) posted a 3.63 times growth in net profit to HK$1.567 billion for the six months ended June 30. Earnings per share jumped 3.58 times to 31.2 HK cents. An interim dividend of 5 HK cents per share was declared. Revenue in the period went up almost 80 per cent to HK$26.7 billion. (SingTao Daily B1)

Shanghai Industrial Holdings (363 HK) posted profit of HK$4.437 billion for the six months ended 30 June, jumping 216 per cent over the same period last year. Turnover amounted to HK$6.664 billion, up 150 per cent. Interim dividend was 50 HK cents. (Hong Kong Economic Journal P3)

The Wharf (4 HK) had better-than-expected basic earnings of more than HK$4.204 billion for the first half, growing 28 per cent from last year. Revenue slightly increased by 0.1 per cent to HK$8.622 billion. Earnings per share amounted to HK$3.59 and an interim dividend of HK$0.36 per share was distributed. (SingTao Daily B3)

Wheelock (20 HK) And Company posted net profit of HK$5.97 billion for the half-year period ended 30 June, surging 65.9 per cent over the same period last year. Turnover rose 37.8 per cent to HK$12.52 billion. The company declared an interim dividend of HK$0.025 per share, same as last year. (Hong Kong Economic Journal P7)

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

Hong Kong Stock Market Wrap August 27th, 2010

AgBank (1288 HK) posted net profit of 45.84 billion yuan in interim results, up 40.1 per cent. Earnings per share amounted to 0.17 yuan, meeting expectations. Core capital adequacy ratio was 6.72 per cent. No interim dividend will be paid. (SingTao Daily B14)

China Resources Land (1109 HK) posted net profit of HK$3.46 billion in 1H, surging 1.69 times yoy. Revenue rose 267.5 per cent to HK$12.41 billion. It declared an interim dividend of 9.5 HK cents per share. (SingTao Daily B13)

China Shenhua Energy (1088 HK) earned 19.27 billion yuan in 1H, up 14 per cent, meeting expectations. The company produced commercial coal of 109 million tonnes, up 3.2 per cent yoy, with sales of 137 million tonnes, up 11 .6 per cent. Of which, sales volume of coal purchased from third parties rose 60.1 per cent to 30.1 million tonnes. (Hong Kong Economic Times A14)

China Travel International Investment (308 HK) saw revenue increase by 23.4 per cent to HK$2.33 billion for the six months ended 30 June. Profit attributable to shareholders was HK$65 million, jumping 3.87 times. Executive Director Xu Mu Han expects operating environment in 2H will be better than in 1H. (Hong Kong Economic Times A14)

Dongfeng Motor Group (489 HK) booked net profit of 6.529 billion yuan in interim results, surging 155.1 times. Operating income amounted to 61.853 billion yuan, up 58.5 per cent. No interim dividend will be paid. (SingTao Daily B12)

Evergrande Real Estate (3333 HK) acquires Guangzhou Kaisa Project from Kaisa (1638) for 1.9 billion yuan. The project is located in Tianhe District, Guangzhou, with a site area of around 7,100 sq.m. and existing saleable area of around 92,700 sq.m.. The development of the project commenced in Jul 2008 and it is expected to be completed in Dec 2010. (Hong Kong Economic Journal P6)

Renhe Commercial Holdings (1387 HK) plans to conduct an international offering of senior notes and would commence a series of roadshow presentations on or around 30 Aug to institutional investors in Asia, Europe and the US. None of the notes will be offered to the public in HK. (Hong Kong Economic Journal P6)

Apollo Solar Energy (566 HK) recorded a net profit of HK$42.6 million for the first half, returning to the black. Profit margin surged almost 53 per cent, versus the 2.7 per cent rise in the same period of last year. (SingTao Daily B15)

China BlueChemical (3983 HK) announced interim results that net profit slightly rose 1 per cent year-on-year to 533 million yuan. No interim dividend was distributed. (Hong Kong Economic Times A15)

China National Materials (1893 HK) is planning to enhance production capacities for 5-10 billion yuan through merge and acquisition in Northwest region in next three years, president and executive director Zhou Yuxian said in an interview. China National Materials first half profit had a 45 per cent increase to 450 million yuan, but profit margin of cement business posted a drop of 2.04 percentage points. (Hong Kong Economic Journal P7)

Huiyin Household Appliances (1280 HK) core profit recorded a growth of 37 per cent to 50.4 million yuan, with same-store sales rose by 18 per cent. Chairman and CEO Cao Kuanping says it is confident to maintain a similar level of growth in same-store sales, as the operating environment would be better in the second half. (Hong Kong Economic Times A15)

Ping An Insurance (2318 HK) first half net profits in insurance, banking and investment sectors amounted to 7.639 billion yuan, 1.104 billion yuan and 1.142 billion yuan respectively, representing a year-on-year surge of 10.4 per cent, 91.3 per cent and 423.9 per cent respectively. (SingTao Daily B15)

Powerlong Real Estate (1238 HK) interim net profit soared 1.47 times to 815 million yuan, mainly attributable to the fair value gains on investment properties surging to 730 million yuan. Total revenue tumbled 19 per cent to 104 million yuan, dragged by a 24 per cent drop in property sales volume to 960 million yuan booked in the period. No interim dividend was declared. (Hong Kong Economic Times A15)

Shenyin Wanguo (218 HK) announced that its wholly-owned subsidiary NCHK(CM) and BVL has agreed to settle all claims in the proceedings and the appeal. In addition, both parties has signed agreement with Mega Speedy Investments, in which NCHK(CM) will sell over 26 per cent interest in NCHK at a price of HK$228 per share. Total consideration will be HK$284 million. (SingTao Daily B15)

Zhejiang Expressway (576 HK) net profit went up 10.8 per cent year-on-year to 856 million yuan. An interim dividend of 6 fen per share was proposed. Revenue during the period rose 13.1 per cent year-on-year to 3.13 billion yuan. The increase is mainly due to a 15.6 per cent growth in toll income of Shanghai-Hangzhou-Ningbo Expressway and a 38.9 per cent year-on-year increase gained in highway service areas. (Hong Kong Economic Times A15)

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

Hong Kong Stock Market Wrap August 26th, 2010

Agricultural Bank of China (1288 HK) announces 1H results today. JP Morgan and Morgan Stanley set Overweight rating on it, with target price at HK$4.6 and HK$4.53 respectively. Nomura, Citigroup and Deutsche Bank set Buy rating on it, with target price at HK$4.3, HK$4.2 and HK$3.91 respectively. Shares rose over 3 per cent to HK$3.53. (Hong Kong Economic Journal P1)

BOC (3988 HK) recorded a 26.87 per cent growth in profit attributable to shareholders of 52.022 billion yuan for the six months ended June 30. Net interest income amounted to 91.864 billion yuan, rising 22.94 per cent from the previous year. Earnings per share went up 25 per cent to 0.2 yuan. No interim dividend was declared. (SingTao Daily B1)

BOC HK (2388 HK) posted a 7.46 per cent growth in net profit to HK$7.19 billion for the first half. Net interest spread narrowed to 1.58 per cent as of June 30, shedding 21 percentage points year-on-year. Earnings per share rose 7.44 per cent to HK$0.68. An interim dividend of HK$0.4 was distributed, surging 40.35 per cent. (SingTao Daily B1)

China COSCO (1919 HK) posted net profit of 3.45 billion yuan in 1H. Turnover was 45.55 billion yuan, up 55.5 per cent. Earnings per share amounted to 0.34 yuan. (Hong Kong Economic Journal P10)

China Life (2628 HK) management expects to see a more complicated market condition in the second half, which would put fixed-income type of investment products under pressure. It also anticipates that A shares would be volatile and its investment in equity-related interests would be more flexible. (SingTao Daily B2)

China Resources (291 HK) recorded a net profit of HK$4.243 billion, surging 3 times from last year. Turnover went up 20 per cent to HK$41.98 billion. Earnings per share increased by 2.7 times to HK$1.77. An interim dividend of HK$0.14 was declared, unchanged from a year ago. (SingTao Daily B2)

China Unicom (762 HK) posted net profit of 2.395 billion yuan in interim results, down 62.2 per cent. Revenue went up 7.6 per cent to 82.113 billion yuan. Earnings per share amounted to 0.107 yuan. No interim dividend was declared. The company says it will introduce iPhone4 within the year.
(Hong Kong Economic Times A13)

R&F Properties (2777 HK) saw net profit surge 3.48 times to 701 million yuan for the first half. Turnover grew 49 per cent to 6.935 billion yuan. Earnings per share were 0.2175 yuan, increasing by 3.48 times from last year. R&F declared an interim dividend of 0.1 yuan per share. (SingTao Daily B3)

Henderson Land (12 HK) posted a 75.2 per cent increase to HK$7.658 billion in profit attributable to equity holders for the first half. Turnover dropped 34.3 per cent to HK$2.178 billion. Basic earnings per share went down 37.8 per cent to HK$0.61. An interim dividend of HK$0.3 per share was declared. (SingTao Daily B2)

ICBC (1398 HK) hit record high in net profit for the second quarter to 43.056 billion yuan, surging almost 38 per cent year-on-year, driving the first half net profit attributable to equity holders increase by 27.37 per cent to 84.603 billion yuan. Earnings per share amounted to 0.25 yuan, climbing 25 per cent from a year ago. No interim dividend was paid. (SingTao Daily B1)

Kunlun Energy Company (135 HK) signs JV agreement with China Gas and Hebei Bohai to set up a JV Company engaged in gas pipeline construction and operation in Bohai New District to achieve annual capability of natural gas of 0.5 to 4 billion cubic metres. The JV company will be owned as to 51 per cent, 40 per cent and 9 per cent by the company, China Gas and Hebei Bohai respectively. Expected total investment amount is 300 million yuan. (Hong Kong Economic Times A13)

PetroChina Company (857 HK) posted net profit of 65.33 billion yuan in interim results, an increase of 29.4 per cent yoy. Turnover was 684.8 billion yuan, surging 64.9 per cent. Profit from operations amounted to 88.94 billion yuan, up 34.8 per cent. (Hong Kong Economic Times A12)

Luis Nuno Mesquita de Melo has been replaced by Anne Maree Salt as joint company secretary of Sands China (1928 HK). Steven Craig Jacobs, CEO and president and executive director, was removed by the board weeks earlier. Profit rose 3.29 times yoy to US$250 million in 1H. Earnings per share amounted to 3.11 US cents. No dividend was declared. (Hong Kong Economic Journal P12)

TCL Multimedia Technology (1070 HK) Yu Guanghui has tendered his resignation as CEO. The resignation will be effective from 10 Sep and Zhao Zhongyao will take his place. His other posts in the group remain the same. The company saw gross profit decrease by 17.4 per cent in 1H. Loss attributable to owners of the parent amounted to HK$334 million. (Hong Kong Economic Journal P10)

Tencent (700 HK) intends to purchase nearly 50 per cent interest in Sanook from its key shareholder at a consideration of US$10.5 million (HK$81.7 million). Sanook is an Internet company in Thailand, which recorded a net loss of more than HK$43 million last year. It expects to post a profit of above HK$15 million in the fiscal year of 2010. (SingTao Daily B3)

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

Hong Kong Stock Market Wrap August 24th, 2010

IPO: Trony Solar Holdings plans to list in Hong Kong next month to raise up to 250 million dollars, with JP Morgan as sponsor. The company, headquartered in Shenzhen, planned to list in the US in the end of last year but shelved the plan because of market conditions. (Hong Kong Economic Journal P10)

Belle International (1880 HK) saw 37 per cent growth in net profit to 1.56 billion yuan for the six months ended June 30. Gross profit margin increased by 3.2 percentage points to 55.6 per cent. Revenue went up 19.8 per cent to 11.15 billion yuan. Earnings per share were 18.44 fens, rising 36.9 per cent. An interim dividend of 5 fens per share and a special dividend of 10 fens each were paid. (SingTao Daily B2)

Century City International Holdings (355 HK) posted net profit of HK$230.6 million for the six months ended 30th June, up 87 per cent. Turnover dropped 55.5 per cent to HK$51.2 million. Earnings per share amounted to 9.64 HK cents. The company declared the payment of an interim dividend of 0.4 HK cent. (Hong Kong Economic Journal P6)

China National Materials Company (1893 HK) recorded net profit of 448 million yuan for the six months ended 30 June, up 45.28 per cent yoy. Earnings per share was 0.126 yuan. No interim dividend will be paid. (Hong Kong Economic Journal P10)

China Singyes Solar Technologies (750 HK) posted net profit of 59.39 million yuan in 1H, up 11.8 per cent. Turnover amounted to 688 million yuan. Earnings per share was 0.121 yuan. No interim dividend will be paid. (Hong Kong Economic Journal P10)

AIG (235 HK) does not intend to sell equity interest in Nan Shan Life Insurance to any third parties other than China Strategic and Primus Financial, foreign media reports. It is also reported that AIG is confident the deal can get approval from Taiwan regulatory authority. China Strategic share price finished nearly 2 per cent higher to HK$0.52 yesterday. (SingTao Daily B4)

China Yurun Food (1068 HK) saw net profit climb 55.7 per cent yoy to HK$1.309 billion for the six months ended 30 June. Turnover went up 49 per cent to HK$8.693 billion. Gross profit margin decreased by 1.2 percentage points to 15.5 per cent. The company declared an interim dividend of HK$0.2 per share. (Hong Kong Economic Times A13)

Cosco Pacific (1199 HK) recorded profit attributable to shareholders of US$189.9 million, surging 81.9 per cent. Sales revenue rose 40 per cent to US$223 million. Earnings per share went up 70.8 per cent to 7.96 US cents. An interim dividend of 13.7 HK cents per share and a special dividend of 11.1 HK cents each were declared. (SingTao Daily B3)

Greentown China (3900 HK) had a 2.64 per cent growth in net profit to 332 million yuan for the six months ended June 30. Turnover climbed 99.5 per cent to 3.87 billion yuan and gross profit margin went up 151 per cent to 1.46 billion yuan, Earnings per share dipped 4.8 per cent to 0.2 yuan. An interim dividend of 0.1 yuan per share was declared. (SingTao Daily B4)

Hopson Development Holdings (754 HK) acquires 65 per cent interest in a land of a total site area of 147,000 square meters from Guangzhou Textile Industrial and Trading Group for a total consideration of 3.718 billion yuan to develop Kemaoyuan project. (Hong Kong Economic Times A13)

Ping An Insurance (2318 HK) posted a net profit of 9.611 billion yuan for the six months ended June 30, rising 28.5 per cent year-on-year. Earned premium climbed 42.5 per cent year-on-year to 74.585 billion yuan. Earnings per share amounted to 1.3 yuan, up 27.45 per cent. An interim dividend of 0.15 yuan per share was paid, unchanged from last year. (SingTao Daily B3)

Shangdong Chenming Paper (1812 HK) expects net profit to go down 20-50 per cent year-on-year for the third quarter. But it is expected that profit for the first nine months will surge 50-100 per cent year-on-year to reach 800 million yuan, as the first half net profit recorded a sharp increase of 2.86 times to 608 million yuan. The company did not recommend any interim dividend. (SingTao Daily B4)

Shimao Property’s (813 HK) profit attributable to shareholders amounted to 2.11 billion yuan for the first half, surging 76 per cent from last year. Core profit rose 4.25 times to 1.57 billion yuan. Turnover grew 102 per cent to 10.02 billion yuan. Earnings per share amounted to 59.5 fens and an interim dividend of 15 HK cents per share was distributed. (SingTao Daily B4)

HK & China Gas (3 HK) profit attributable to shareholders amounted to HK$2.967 billion for the first half, edging down 1.1 per cent. Turnover amounted to HK$10.41 billion, surging 66.3 per cent. Earnings per share amounted to HK$0.413, unchanged from last year. An interim dividend of HK$0.12 per share was declared, also unchanged from a year earlier. (SingTao Daily B2)

Want Want (151 HK) China’s net profit rose 33.5 per cent to US$161 million for the six months ended 30 June. Revenue went up 25.6 per cent to US$1.002 billion. Gross profit margin decreased by 0.5 percentage point to 38.1 per cent. An interim dividend of 0.9 US cent per share was declared. (Hong Kong Economic Journal P10)

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

Hong Kong Stock Market Wrap August 19th, 2010

China Aoyuan Property (3883 HK) interim net profit increased by 2.14 times year-on-year to 167 million yuan. Earnings per share amounted to 6.4 fens. No interim dividend was paid. As of July 31, Aoyuan’s contracted sales amounted to 1.35 billion yuan. (SingTao Daily B3)

China Everbright International (257 HK) saw net profit rise 24.4 per cent to HK$245 million in 1H. Turnover dropped 12.9 per cent to HK$960 million. Earnings per share went up 7.5 per cent to 6.73 HK cents. Interim dividend of 1 HK cent per share was declared. (Hong Kong Economic Times A10)

China Longyuan Power (916 HK) saw net profit climb 1 time to 852 million yuan in 1H. Revenue amounted to 6.244 billion yuan, an increase of 59.6 per cent. Earnings per share rose 34.1 per cent to 0.1141 yuan. No interim dividend will be paid. (Hong Kong Economic Times A10)

China Mobile (941 HK) posted a 4.18 per cent increase in net profit to 57.643 billion yuan for the first half, marginally beating the market estimates. Earnings per share amounted to 2.87 yuan. An interim dividend of HK$1.417 was declared, rising 5.27 per cent year-on-year. The management has no intention to pay special dividend this year. China Mobile closed at HK$81.75 yesterday, dipping 3 per cent or HK$2.55. (SingTao Daily B2)

CNOOC (883 HK) recorded a better-than-expected net profit of 25.99 billion yuan for the first six months, soaring 109.6 per cent. Earnings per share increased by 107.1 per cent to 0.58 yuan. An interim dividend of HK$0.21 was paid. Total revenue surged 104.6 per cent to 83.155 billion yuan, while cost in the first half went up 7.3 per cent to US$23.85 from the same period of 2009. (SingTao Daily B2)

Huadian Power (1071 HK) plans to purchase 35 per cent equity interest in Baihui Company, which owns a coal mine in Mongolia, at a total consideration of HK$646 million. The coal mine is planned to start production by 2013 and the expected production capacity is 1.8 million tons of gas coal. (SingTao Daily B3)

Lenovo (992 HK) earned US$54.86 million (around HK$426 million) in the first quarter ended June 30, less than market estimates of a US$59 million profit. Earnings per share were 0.57 US cents and no dividend was declared. (SingTao Daily B3)

Qingling Motors (1122 HK) booked interim net profit of 143 million yuan, up 38.3 per cent year on year, as the company sold 30,109 vehicles, jumping 61 per cent year on year. (Hong Kong Economic Times A12)

Regal Real Estate (1881 HK) announced that distributable income attributable to unitholders for the period to June 30 amounted to HK$299.6 million, up 6.8 per cent. Distribution per unit was 8.6 HK cents, edging up 1.18 per cent. (SingTao Daily B3)

Increasing average selling prices and sold areas pushed up the first half net profit of Shui On Land (272 HK) by 117 per cent to HK$1.775 billion. Earnings per share amounted to 35 HK cents, up 94 per cent. An interim dividend of 6 HK cents was declared, surging 5 times over the same period of last year. (SingTao Daily B4)

Sunny Optical Technology (2382 HK) saw 1H revenue increase by 63 per cent to 400 billion yuan. Net profit went up 1.34 times to 54.82 million yuan. No interim dividend will be paid. Share price dropped 6.47 per cent to HK$1.59 yesterday on changes of directors. (Hong Kong Economic Times A12)

Taifook Securities (665 HK) saw net profit jump 1.73 times to HK$231 million for the 12 months ended 30 June. It proposed a second interim dividend of 6 HK cents per share for the period. (Hong Kong Economic Journal P10)

Techtronic Industries (669 HK) posted a net profit of HK$362 million for the first half, surging nearly 41 per cent. Earnings per share amounted to 22.74 HK cents and an interim dividend of 3.75 HK cents was declared. (SingTao Daily B3)

Transport International (62 HK) recorded profit attributable to equity shareholders of HK$658.5 million in 1H, surging 93.7 per cent over the same period last year. KMB’s profit after taxation was HK$135.9 million. Earnings per share amounted to HK$1.63. Interim dividend of HK$0.3 per share was recommended. (Hong Kong Economic Times A12)

ZTE (763 HK) posted interim net profit of 877 million yuan, up 12 per cent yoy. Turnover amounted to 30.725 billion yuan, up 10.9 per cent. Earnings per share rose 6.7 per cent to 0.32 yuan. No interim dividend will be paid. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap August 18th, 2010

Ajisen (China) (538 HK) saw turnover increase 26.8 per cent to HK$1.188 billion for the six months ended 30 June. Net profit rose 44.9 per cent year on year to HK$183 million. Gross profit margin went up 0.2 percentage point to 69.1 per cent. No interim dividend will be paid. (Hong Kong Economic Times A11)

BoCom (3328 HK) net profit for the six months ended June 30 jumped 30.08 per cent to 20.357 billion yuan from a year ago, similar to analysts’ forecast. Earnings per share amounted to 0.4 yuan, up 29.03 per cent from last year. An interim dividend of 0.1 yuan per share was paid. (SingTao Daily B3)

Beijing North (588 HK) Star has issued profit warning earlier. It announced yesterday net profit for the six months ended June 30 amounted to 488 million yuan, falling 30 per cent from a year ago. No interim dividend was declared. (SingTao Daily B4)

Century Sunshine (509 HK) expects 1H interim profit to be considerably lower than that in the same period last year as revenue and contribution derived from operation of agriculture-related products dropped and there were net losses from change in fair value of investments held for trading. (Hong Kong Economic Times A11)

China Merchants Bank (3968 HK) recorded a 59.8 per cent growth year-on-year in net profit for the first half, as net interest margin widened. Net profit amounted to 13.203 billion yuan during the period. Earnings per share were 0.65 yuan, rising 51.2 per cent over the same period of last year. No interim dividend was declared. (SingTao Daily B2)

China Shipping (1138 HK) aims to buy 49 new cargo vessels in the next three years. Total capacity will increase by 60 per cent from below 10 million deadweight tonnes currently to around 16 million DWT. Capital expenditure to be involved is around 17 billion yuan. (SingTao Daily B4)

CITIC Pacific (267 HK) posted net profit of HK$4.88 billion for the first six months of 2010, surging 97.9 per cent year on year. Turnover amounted to HK$31.87 billion, up 76.1 per cent. An interim dividend of HK$0.15 per share was declared. (Hong Kong Economic Times A10)

CNOOC (883 HK) is expected to earn 19.9 to 23.7 billion yuan in 1H, up 60-94 per cent year on year. China Petroleum & Chemical (0386) is expected to book profit of 32-35 billion yuan during the period. PetroChina Company (0857) is expected to reap profit of 65-68.4 billion yuan, up 29-36 per cent year on year. (Hong Kong Economic Times A10)

Eternity Investment (764 HK) is set to record a profit and return to the black for the first half. The expected profit is mainly attributable to the recognition of a gain on early repayment of convertible note receivable and promissory note receivable. (SingTao Daily B4)

Pan Sino International (502 HK) is in liquidation. HKEx has placed it in the third delisting stage since yesterday, planning to cancel the listing after a six-month period, i.e. 17 Feb next year, if it does not submit viable resumption proposal. (Hong Kong Economic Times A11)

Morgan Stanley raises 12-month target price on PICC Property and Casualty (2328 HK) to HK$11 from HK$6.7. Citigroup sets Buy rating on the company, raising 12-month target price to HK$10.3. Credit Suisse sets Underperform rating, with 12-month target price at HK$6.5. UBS sets Sell rating on it. (Hong Kong Economic Times A3)

Sany Heavy Equipment (631 HK) had a net profit of 342 million yuan for the six months ended June 30, up nearly 37 per cent year-on-year. Earnings per share were 16.5 HK cents. No interim dividend was declared. (SingTao Daily B4)

Singamas Container (716 HK) swung to the black in the first half, recording a net profit of US$10.2 million (around HK$79.5 million) for the 6-month period ended June 30. Earnings per share were 0.42 US cents. No interim dividend was paid. (SingTao Daily B4)

Sino-Ocean Land’s (3377 HK) net profit climbed 72 per cent to 1.152 billion yuan for the six months ended 30 June. Revenue rose 37 per cent to 4.753 billion yuan. Earnings per share went up 43 per cent to 0.2 yuan. An interim dividend of HK$0.05 per share will be paid. (Hong Kong Economic Journal P8)

TVB (511 HK) posted a 77 per cent growth in profit attributable to shareholders to HK$584 million for the six months ended June 30. Earnings per share had a 77 per cent rise to HK$1.33. An interim dividend of HK$0.35 per share was declared, up 44 per cent from a year ago. (SingTao Daily B3)

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

Hong Kong Stock Market Wrap August 17th, 2010

IPO: Huaneng New Energy Industrial plans to raise 10 billion yuan via IPO in Hong Kong within the year, involving up to 2.9 billion shares. Offering price will be around 3-4 yuan per share. It is said that it has appointed firms such as Morgan Stanley and Goldman Sachs for arrangement. (Hong Kong Economic Times A13)

A8 Digital Music (800 HK) saw 1H net profit drop 55 per cent to 20 million yuan. Revenue went down 23 per cent to 352 million yuan. No interim dividend was declared. Share price dropped 15 per cent yesterday. (Hong Kong Economic Times A13)

Angang Steel (347 HK) recorded a net profit of 2.767 billion yuan for the six months ended June 30, which is mainly due to the recovery of the steel market in the first half and the increase of steel price. Earnings per share were 38 fens. Revenue amounted to 44 billion yuan, up 46.6 per cent over the same period last year.
(SingTao Daily B1)

AviChina (2357 HK) first half net profit jumped 50-fold to 397 million yuan. Earnings per share 0.023 yuan. No interim dividend was paid. The company will continue to acquire aviation business assets domestically and from overseas in the second half. AviChina share price yesterday rose 4 per cent to close at HK$3.14. (SingTao Daily B4)

China Life Insurance (2628) decreased holding of shares in BBMG Corporation (2009 HK) by 30.52 million shares last week, taking its shareholding in the company down to 7.39 per cent. JP Morgan has been increasing holding of the shares. Its shareholding amounted to 14.17 per cent last Monday. (Hong Kong Economic Times A12)

China Communications Construction (1800 HK) is planning certain asset restructuring deal regarding Road & Bridge International, 61.4 per cent owned by the company directly and indirectly, and making preliminary policy consultations with the authorities. No agreement has been made.
(Hong Kong Economic Journal P7)

China Minsheng Banking (1988 HK) is planning to issue subordinated bonds for about 15 billion yuan in the year in order to replenish supplementary capital. As of 30 June, 2010, its capital adequacy ratio and capital asset ratio are 10.77 per cent and 8.32 per cent respectively, dropping 0.06 and 0.6 percentage points respectively from the end of 2009. (SingTao Daily B2)

China SCE Property (1966 HK) posted net profit of 613 million yuan for the six months ended 30 June, up 1.1 times. Core profit climbed 3.86 times to 607 million yuan. Interim earnings per share amounted to 22.4 fens. Interim dividend per share was 4 HK cents.
(Hong Kong Economic Times A13)

China Taiping Insurance (966 HK) posted a 9.7 per cent growth to HK$603 million in net profit for the first half of 2010. Earnings per share were HK$0.355, up 0.6 per cent. No interim dividend was declared. Turnover during the period amounted to HK$27.27 billion, surging 89.6 per cent from last year. (SingTao Daily B2)

Coslight Technology’s (1043 HK) subsidiary Harbin Coslight has signed a second supply agreement with Guangzhou Automobile. Harbin Coslight agreed to sell another 85 sets of battery systems that will also be used by Guangzhou Automobile to manufacture vehicles for the purpose of the Asian Games to be held in Guangzhou. (SingTao Daily B4)

Golden Eagle Retail’s (3308 HK) 1H net profit rose over 5 times yoy to 462 million yuan. Earnings per share was 0.238 yuan. Total gross sales proceeds rose to 5.034 billion yuan, yoy growth of 34 per cent. No interim dividend will be paid. (Hong Kong Economic Journal P7)

Kunlun Energy (135 HK) has signed agreement with Tianjin Gas Group, in which both parties agreed to establish a JV company in the mainland. The JV company will be owned as to 51 per cent by Kunlun Energy and 49 per cent by Tianjin Gas Group. It is expected that the total investment of the JV company will amount to 1.5 billion yuan. (SingTao Daily B4)

Natural Beauty (157 HK) posted a net profit of HK$15.9 million for the first half, down 85 per cent over the same period a year earlier. Earnings per share amounted to 0.79 HK cents and an interim dividend of 3.5 HK cents per share was paid. (SingTao Daily B4)

PICC Property (2328 HK) and Casualty profit attributable to shareholders amounted to 2.645 billion yuan for the six months ended June 30, surging 32.06 times from a year ago. Earnings per share were 0.237 yuan. No interim dividend was declared. Turnover amounted to 81.628 billion yuan and net premiums earned were 57.679 billion yuan during the period. (SingTao Daily B4)

Royale Furniture (1198 HK) booked net profit of HK$60.04 million for the six months ended 30 June, jumping 1.7 times. Turnover rose 54 per cent to HK$545 million. Gross profit margin went down 2.4 percentage points to 29.3 per cent. An interim dividend of 1.6 HK cents per share was declared. (Hong Kong Economic Times A13)

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

Hong Kong Stock Market Wrap August 16th, 2010

An Hui Conch Cement (914 HK) posted a profit of over 1.797 billion yuan for the first half, soaring nearly 42 per cent. The increase in profit is mainly attributable to the robust sales volume and the rising prices. No interim dividend was declared. (SingTao Daily B2)

Anta Sports (20202 HK) saw first half net profit increase to 760.2 million yuan, growing nearly 25 per cent year-on-year. Earnings per share soared 24.8 per cent to 0.305 yuan. An interim dividend of HK$0.2 per share was declared, surging 66.7 per cent from last year. (SingTao Daily B2)

Chaoda Modern Agriculture (682 HK) plans to raise at least US$400 million through issuing convertible bonds and top-up subscription of new shares. Citibank has been appointed to arrange the bonds issuance. (SingTao Daily B2)

China Coal Energy (1898 HK) saw revenue climb 54.3 per cent to 35.1 billion yuan in 1H. Profit went up 25.4 per cent to 5.446 billion yuan. Earnings per share was 0.41 yuan, up 24 per cent. It does not distribute interim dividends. (SingTao Daily B2)

China Southern Airlines (1055 HK) interim net profit had a 81.8 times sharp increase for the 6-month period ended June 30, reaching 2.07 billion yuan. Earnings per share amounted 0.26 yuan and no dividend was declared. (SingTao Daily B2)

CLP (2 HK) recorded 83 per cent growth in net profit for the first half of the year, amounting to HK$5.921 billion. Earnings per share were HK$2.46 and a second interim dividend of HK$0.52 per share was paid. (SingTao Daily B2)

Cosco (517 HK) is seeking approval for the disposal mandate from the shareholders to dispose of 16.85 per cent interest of Sino-Ocean Land Holdings Limited during a mandate period of 12 months. Cosco might reap around HK$664.5 million based on a selling price of HK$5.4 per share. Cosco share price closed 4.55 per cent higher to HK$5.67 yesterday. (SingTao Daily B1)

Major banks raised earnings forecasts and ratings on Li & Fung (494 HK) yesterday. Goldman Sachs reiterated Buy rating on the company, raising target price by 15 per cent to HK$47.5. Morgan Stanley raised rating on it from Hold to Overweight. (Hong Kong Economic Journal P8)

Maoye International Holdings (848 HK) posted profit of 286 million yuan in 1H, up 17.3 per cent. Same-store sales rose 23.4 per cent. Total sales proceeds jumped 43.1 per cent to 3.053 billion yuan. Interim dividend of 1.8 HK cents per share was declared. (Hong Kong Economic Times A10)

Pacific Century Premium Developments (432 HK) saw turnover drop 54 per cent to HK$1.07 billion in 1H. Profit rose 4 per cent to HK$165 million. Earnings per share amounted to 6.86 HK cents, up 3.5 per cent. The company did not declare an interim dividend. (SingTao Daily B4)

PCCW’s (8 HK) profit went up 17 per cent to HK$765 million for the six months ended June 30. Earnings per share was 11.30 HK cents, up 16.98 per cent. Revenue amounted to HK$11.802 billion, down 7.6 per cent. Interim dividend of 5.1 HK cents per share was declared. (SingTao Daily B4)

Semiconductor Manufacturing International (981 HK) has signed agreement with Datang Telecom Technology & Industry Holdings Co., Ltd. In which Datang agrees to buy new shares of Semiconductor. The subscription price is HK$0.52 per share, involving US$102 million of capital. (SingTao Daily B2)

Shanghai Jin Jiang International Hotels (Group) (2006 HK) plans to acquire from its parent Jin Jiang International 38.54 per cent interest in Jin Jiang Investment and 50.21 per cent interest in Jin Jiang Travel for 2.081 billion yuan and 613 million yuan respectively. It will issue and allot to Jin Jiang International around 1.001 billion new domestic shares at HK$2.2 each to pay part of the consideration.
(Hong Kong Economic Times A9)

Tingyi (Cayman Islands) (322 HK) booked a net profit of HK$1.54 billion for the six months ended June 30, edging up 10.2 per cent. Earnings per share were 27.5 HK cents, rising 10.3 per cent from last year. No interim dividend was paid. Turnover amounted to HK$25.23 billion during the period, rising 29.7 per cent. Gross margin was 31.03 per cent, a decrease of 14.3 percentage points over the same period a year ago. (SingTao Daily B2)

Tsingtao Brewery (168 HK) recorded net profit of around 830 million yuan in the interim results, up 191 million yuan or 30 per cent compared to around 639 million yuan in the same period last year. Turnover amounted to around 9.805 billion yuan. Earnings per share was 0.614 yuan. No dividend was declared. (Hong Kong Economic Journal P8)

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

Hong Kong Stock Market Wrap August 13th, 2010

China Coal Energy (1898 HK) saw revenue climb 54.3 per cent to 35.1 billion yuan in 1H. Profit went up 25.4 per cent to 5.446 billion yuan. Earnings per share was 0.41 yuan, up 24 per cent. It does not distribute interim dividends. (SingTao Daily B2)

Major banks raised earnings forecasts and ratings on Li & Fung (494 HK) yesterday. Goldman Sachs reiterated Buy rating on the company, raising target price by 15 per cent to HK$47.5. Morgan Stanley raised rating on it from Hold to Overweight. (Hong Kong Economic Journal P8)

Maoye International Holdings (848 HK) posted profit of 286 million yuan in 1H, up 17.3 per cent. Same-store sales rose 23.4 per cent. Total sales proceeds jumped 43.1 per cent to 3.053 billion yuan. Interim dividend of 1.8 HK cents per share was declared. (Hong Kong Economic Times A10)

Pacific Century Premium Developments (432 HK) saw turnover drop 54 per cent to HK$1.07 billion in 1H. Profit rose 4 per cent to HK$165 million. Earnings per share amounted to 6.86 HK cents, up 3.5 per cent. The company did not declare an interim dividend. (SingTao Daily B4)

PCCW’s (8 HK) profit went up 17 per cent to HK$765 million for the six months ended June 30. Earnings per share was 11.30 HK cents, up 16.98 per cent. Revenue amounted to HK$11.802 billion, down 7.6 per cent. Interim dividend of 5.1 HK cents per share was declared. (SingTao Daily B4)

Shanghai Jin Jiang International Hotels (Group) (2006 HK) plans to acquire from its parent Jin Jiang International 38.54 per cent interest in Jin Jiang Investment and 50.21 per cent interest in Jin Jiang Travel for 2.081 billion yuan and 613 million yuan respectively. It will issue and allot to Jin Jiang International around 1.001 billion new domestic shares at HK$2.2 each to pay part of the consideration. (Hong Kong Economic Times A9)

Tsingtao Brewery (168 HK) recorded net profit of around 830 million yuan in the interim results, up 191 million yuan or 30 per cent compared to around 639 million yuan in the same period last year. Turnover amounted to around 9.805 billion yuan. Earnings per share was 0.614 yuan. No dividend was declared. (Hong Kong Economic Journal P8)

AgBank (1288 HK) exercised A-share over-allotment option to raise around 9 billion yuan additionally on August 13, involving 3.34 billion shares priced at 2.68 yuan per share. AgBank’s dual listing in Hong Kong and Shanghai raised US$22.1 billion in total, surpassing the US$21.9 billion reaped by Industrial and Commercial Bank of China (1398) to rank first worldwide in IPO fund raising. (Hong Kong Economic Journal P4)

Anhui Expressway’s (995 HK) A shares announced interim profit amounted to around 365 million yuan, slightly down 0.27 per cent. Earings per share were 22.03 fens. (SingTao Daily B14)

Great Wall Technology’s (74 HK) A-share subsidiary Shenzhen Kaifa Technology Co., Ltd. announced it achieved a net profit of 180 million yuan for the first half ended 30 June 2010, an increase of 75.85 per cent from the same period a year ago. It also expects to record a net profit of around 249 million yuan to 332 million yuan for the first nine months, representing an increase of 50-100 per cent from 2009. (Hong Kong Economic Times A12)

Ko Yo Ecological Agrotech (Group) (827 HK) announced that its chemical production facility produced products of ammonia and urea on 14 August 2010. The production facility is located at Dazhou City of Sichuan Province, expecting to produce 400,000 tons of synthetic ammonia and 450,000 tons of urea. (Hong Kong Economic Times A12)

New World Department Store China (825 HK) executive director Adrian Cheng Chi-kong says the same store sales of its department stores have a double-digit growth in July. It is expected that the same store sales for the year ended 30 June 2011 may go up nearly 9 per cent. (SingTao Daily B14)

Shenzhen Neptunus (8329 HK) had a loss of 18 million yuan for the six months ended 30 June 2010. Loss per share was 1.91 fens. No interim dividend was paid. (SingTao Daily B14)

Xinyi Glass (868 HK) plans to increase an extra production line that produces 1.2 million pieces of automotive glass replacement annually. It is expected the production line will start operation in the first quarter of 2011, making the annual capacity of automotive glass replacement increase to 13.5 million pieces. (Hong Kong Economic Times A12)

Zhaojin Mining Industry (1818 HK) recorded a net profit of 560 million yuan for the six months ended 30 June 2010, surging over 75 per cent. Earnings per share were 0.39 yuan. No interim dividend was declared. (SingTao Daily B14)

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

Hong Kong Stock Market Wrap August 12th, 2010

Asia Cement (China) Holdings (743 HK)’ 1H net profit drop 57 per cent to 140 million yuan. Revenue rose 15.5 per cent to 2.275 billion yuan. Gross profit margin went down 13 percentage points yoy to 18 per cent during the period. (Hong Kong Economic Times A14)

China Life Insurance (2628 HK) announced that the unaudited accumulated premium for the first seven months amounted to 21.47 million yuan, up 12.35 year-on-year. (SingTao Daily B4)

China Public Healthcare (8116 HK) earned HK$123 million for the six months ended 30 June 2010, successfully returning to the black. Earnings per share amounted to 1.14 HK cents. No interim dividend was declared. (SingTao Daily B4)

China State Construction International (3311 HK) posted 1H net profit of HK$402 million, up 32.4 per cent. Earnings per share was 13.58 HK cents. Net assets was HK$1.54 per cent. An interim dividend of 5 HK cents per share was declared. (Hong Kong Economic Times A14)

China Taiping Insurance (966 HK) subsidiary Taiping Life Insurance had an accumulated premium income of around 21.35 billion yuan for the first seven months, roaring 66.9 per cent year-on-year. (SingTao Daily B4)

Greens Holdings (1318 HK) says interim profit may drop significantly as finance costs rose because of the increase in borrowings as reported in 2009 annual report and the smaller amount of finance costs in the same period last year which being reduced by the capitalization of eligible borrowing costs. (Hong Kong Economic Times A14)

Hopefluent Group (733 HK) posted a 38.1 per cent growth to HK$59.547 million in in the first half net profit. Basic earnings per share were 20.1 HK cents. An interim dividend of 4 HK cents per share and one bonus share for every ten ordinary shares were declared.
(SingTao Daily B4)

Hutchison Whampoa (13 HK) chairman Li Ka-shing increased shareholding in the company by 15.32 million shares on August 6, 9, 10, involving a total of HK$900 million. His stake in the company amounts to 52.28 per cent currently following the increase in shareholding.
(SingTao Daily B2)

KWG Property (1813 HK) will issue US$250 million 7-year senior notes, bearing interest at a rate of 12.5 per cent per annum. The notes will be listed on the SGX-ST. Ratings of B+ and B1 were received from S&P and Moody’s respectively. (Hong Kong Economic Journal P12)

Li & Fung (494 HK) saw turnover rise 12 per cent to HK$51.792 billion for the six months ended 30 June. Earnings per share was 57.5 HK cents, surging 50 pre cent. An interim dividend of 38 HK cents per share was declared, up 46 per cent. Profit attributable to shareholders amounted to HK$2.171 billion, up 55 per cent. (Hong Kong Economic Times A14)

MTR Corporation (66 HK) recorded net profit of HK$6.639 billion in 1H, up 47.6 per cent. Earnings per share was HK$1.16. An interim dividend of HK$0.14 per share was declared. (Hong Kong Economic Times A12)

Neo-Neon Holdings (1868 HK) expects to record a first half net profit considerably higher from the same period a year earlier. Its share price closed 7.76 per cent higher following the issue of positive profit alert yesterday. (SingTao Daily B4)

Prudential (2378 HK) recorded a profit of 422 million pounds (around HK$5.12 billion) in the first half ended June 30, swinging to the black from a loss of 254 million pounds in the same period a year ago. An interim dividend of 6.61 pence (around HK$0.8) per share was declared. Prudential share price closed down 1.5 per cent to HK$69.7 yesterday. (SingTao Daily B2)

BEA (23 HK) posted net profit of HK$2.08 billion for the six months ended 30 June, up 77.7 per cent. An interim dividend of HK$0.38 per share was declared as compared to HK$0.28 per share in 2009. Core capital adequacy ratio was 10.3 per cent, up 1.9 percentage point. (Hong Kong Economic Times A12)

Wing Hang Bank (302 HK) had a net profit of around HK$760 million for the six months ended 30 June 2010, surging 48 per cent year-on-year. Basic earnings per share amounted to HK$2.58. An interim dividend of HK$0.3 per share was declared. Wing Hang net interest income grew 13.6 percent to HK$1.32 billion, while its net interest margin rose to 1.91 percent. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap August 11th, 2010

IPO: Bright Smart Securities starts to launch floatation today to raise HK$2.25-2.7 billion at a price of up to HK$1.62 per share. Entry fee is HK$3,272.69 per board lot. The company will list on the local bourse on August 25. (SingTao Daily B1&6)

Chi Cheung Investment (112 HK) anticipates that its first half results ended June 30 is likely to have substantial improvement. It is believed that the improvement in the results is mainly due to the profit recognized upon completion of disposal of all remained four godown units at Gemstar Tower in Hunghom. (SingTao Daily B4)

China CITIC Bank Corporation (998 HK) recorded net profit of 10.685 billion yuan in 1H, up 45.35 per cent yoy. Core capital adequacy ratio was 8.26 per cent, down from the 9.17 per cent in the end of last year. The bank is planning a rights issue on the basis of up to 2.2 shares for every 10 existing shares, on the same basis for A shares and H shares, to raise not more than 26 billion yuan to strengthen its capital base. (Hong Kong Economic Times A12)

Credit Suisse sets Underperform rating on China Minsheng Banking (1988 HK), with target price at HK$5.9. Royal Bank of Scotland lowers target price for the bank from HK$8.08 to HK$6.73, with a Hold rating, while Deutsche Bank maintains a target price of HK$9. (Hong Kong Economic Times A12)

China Overseas Land & Investment (688 HK) posted net profit of HK$5.066 billion for the six months ended 30 June, surging 66.7 per cent yoy. Earnings per share was 62 HK cents, up 66.2 per cent yoy. Interim dividend was declared to be 10 HK cents per share. Chairman Kong Qing Ping targets full-year sales of 4.8 million sqm, with gross profit margin above 30 per cent. (Hong Kong Economic Times A10)

China WindPower (182 HK) first-half net profit surged 113 percent to around HK$133 million. Earnings per share amounted to 1.83 HK cents. No interim dividend was declared (SingTao Daily B6)

Chong Hing Bank (1111 HK) has posted a 20.4 per cent surge in first-half net profit to HK$193 million. Earnings per share were HK$0.44 and an interim dividend of 10 HK cents per share was paid, rising 25 per cent. (SingTao Daily B4)

CITIC 1616 (1883 HK) recorded a net profit of HK$187 million for the six months ended June 30, edging up 1.3 per cent. Earnings per share amounted to 8.6 HK cents and an interim dividend of 2.4 HK cents per share was declared. (SingTao Daily B4)

Fidelity International decreased holding of shares in GOME Electrical (493 HK) Appliances by 179 million shares on 6 August at an average price of US$0.312 per share, involving US$55.91 million, taking its shareholding in the company to 4.37 per cent from 5.57 percent. (Hong Kong Economic Times A10)

Hengdeli Holdings (3389 HK) posted net profit of 306 million yuan in 1H, up 44 per cent. Earnings per share was 0.075 yuan. No dividend will be paid. (Hong Kong Economic Journal P5)

Net profit at Hong Kong Exchanges and Clearing (388 HK) edged up 3 percent year-on-year to HK$2.258 billion in the first half, being in line with the market forecast. An interim dividend of HK$1.89 was declared. HKEx share price ended 2 per cent lower to close at HK$129.1 yesterday. (SingTao Daily B2)

HSBC Holdings plc (5 HK) told 1,500 branch managers in the UK days ago it may cut their paid sick leaves by half and extend working hours to Saturday. HSBC in the UK says around 330 branches currently open on Saturdays. The plan has come under fire from local union. (Hong Kong Economic Journal P8)

Liu Chong Hing Investment (194 HK) had a first half net profit of HK$232.7 million, growing by nearly 20 per cent. Earnings per share were 61.5 HK cents. An interim dividend of 10 HK cents was proposed. (SingTao Daily B4)

The accumulated premium income of the four subsidiaries of Ping An Insurance (Group) (2318 HK) amounted to 1,388 trillion yuan for the first seven months this year, rising 32 per cent. (SingTao Daily B4)

Tencent Holdings (700 HK) saw net profit climb around 7.5 per cent qoq to 1.917 billion yuan in Q2, surging over 60 per cent yoy. Revenue went up 62.2 per cent yoy to 4.669 billion yuan. No interim dividend will be paid. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap August 10th, 2010

Alibaba.com (1688 HK) had a net profit of 693 million yuan in the first half, growing by 39.8 per cent year-on-year. Turnover amounted to 2.586 billion yuan in the six months ended June 30, rising 49 per cent year-on-year. (SingTao Daily B2)

Due to the increase in net interest spread and loan proceeds, China Minsheng Banking (1988 HK) first half net profit recorded over 20 per cent growth to 8.866 billion yuan, better than market estimates. Earnings per share were 0.4 yuan. No interim dividend was declared. (SingTao Daily B1)

China Overseas Land & Investment (688 HK) recorded July sales of HK$4.95 billion, with sales area of 424,000 sqm, up 21 per cent and 0.5 per cent yoy respectively. Sales amounted to HK$33.05 billion for the first 7 months. (Hong Kong Economic Times A12)

China South Locomotive & Rolling Stock (1766 HK) saw interim net profit climb 76.27 per cent yoy to 1.104 billion yuan on an increase in gross profit. No interim dividend was declared. (Hong Kong Economic Times A12)

China Zhongwang (1333 HK) had a net profit of 2.092 billion yuan in the first half, rising 29 per cent. Earnings per share were 0.39 yuan. No interim dividend was paid.
(SingTao Daily B2)

Giordano International (709 HK) expects interim profit to increase sharply and to be more or less in line with the trends discussed in Q1 operations update. Q1 turnover went up 4.9 per cent and gross profit went up 32.5 per cent. (Hong Kong Economic Times A12)

(1052) GZI TRANSPORT LIMITED
1H NET 238M YUAN; SOARS 53% GZI Transport had a net profit of 238 million yuan for the six months ended 30 June 2010, soaring 53 per cent. Earnings per share were 0.14 yuan. An interim dividend of 10 HK cents was declared. (SingTao Daily B2)

Huadian Power (1071 HK) has signed an agreement with Inner Mongolia Huashi Xiangtai Trading Company Limited for acquiring a 20% equity interest in Otog Front Banner Zhengtai Trading Company Limited recently. Zhengtai Company legally holds the exploration rights of Manghatu coal mine and it plans to commence operation by the end of 2011. The consideration for the acquisition was around 268 million yuan. (SingTao Daily B2)

Huaneng Power International’s (902 HK) interim net profit went up 3.32 per cent to 1.932 billion yuan as fuel cost rose sharply during the period. No interim dividend was declared. (Hong Kong Economic Times A12)

Hutchison Whampoa (13 HK) managing director Canning Fok Kin-ning increased shareholding by 1 million shares in the company at an average price of HK$56.75 on August 6, involving around HK$57 million. Canning Fok’s interests in Hutchison Whampoa increased from 0.11 per cent to 0.14 per cent upon completion of shareholding increase. (SingTao Daily B1)

i-CABLE Communications (1097 HK) lost HK$146 million for the six months ended June 30. Turnover rose 11.7 per cent to HK$962 million during the period. No interim dividend was declared. (Hong Kong Economic Times A10)

Semiconductor Manufacturing International (981 HK) posted a profit of US$96 million for the six months ended 30 June 2010, returning to the black. Net income per ADS was US$0.2. (SingTao Daily B2)

Shangdong Weigao Group (1066 HK) recorded a net profit of 335.53 million yuan in the first half, increasing by 30 per cent. Earnings per share were 30.2 fens. The company declared no interim dividend but proposed to distribute one bonus share for every share held. (SingTao Daily B2)

Wumart Stores (8277 HK) posted net profit of 280 million yuan for the six months ended 30 June, up 20 per cent yoy. Basic earnings per share were 0.22 yuan. Revenue was 6.72 billion yuan during the period. (Hong Kong Economic Journal P10)

Zhuzhou CSR Times Electric (3989 HK), subsidiary of China South Locomotive & Rolling Stock (1766), posted interim net profit of 516 million yuan, up around 1.5 times yoy, as turnover and gross profit rose over 1 times during the period. No interim dividend was declared. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap August 9th, 2010

China Oriental Group Company (581 HK) posted profit of 798 million yuan for the six months ended 30 June, up 1.23 times over the same period last year. Earnings per Share were 0.27 yuan. No interim dividend was declared. (Hong Kong Economic Journal P8)

Dah Sing Banking (2356 HK) recorded interim net profit of HK$507 million, up 65.3 per cent. Basic earnings per share rose 43.8 per cent to HK$0.46 per share. The bank declares an interim dividend of HK$0.07 per share. (Hong Kong Economic Journal P4)

Evergrande Real Estate (3333 HK) achieved contracted sales of 5.08 billion yuan (around HK$5.8 billion) in July, with respective month-on-month increase of 170 per cent, setting the highest record for a single month this year. An aggregate sales amount of 26.06 billion yuan for the first seven months has already achieved 65 per cent of the full-year sales target. Vice chairman Xia Haijun said it is confident to fully achieved, or even surpass the full-year target. (SingTao Daily B4)

Glorious Property Holdings (845 HK) recorded July contracted sales of 677 million yuan, with contracted sales area of 83,000 sqm, down 24 per cent and 15 per cent mom respectively. Contracted sales and area were 4.91 billion yuan and 365,900 sqm for the first 7 months, up 27.4 per cent and 36.4 per cent over the same period last year. (Hong Kong Economic Times A10)

Harbin Power Equipment (1133 HK) had a net profit of 447 million yuan in the first half ended 30 June 2010, surging 107 per cent. Earnings per share were 32 fens. No interim dividend was paid. (SingTao Daily B5)

Lee & Man (746 HK) earned HK$206 million for the six months ended 30 June 2010, increasing by 188 per cent. Earnings per share were 24.9 HK cents. An interim dividend of 9 HK cents per share was declared. (SingTao Daily B5)

Lifestyle International (1212 HK) recorded a profit of HK$615 million for the six months ended 30 June 2010, growing 39 per cent. Earnings per share were 36.8 HK cents. An interim dividend of 14.7 HK cents per share was declared, keeping the payout ratio stable at 40 per cent. (SingTao Daily B5)

MTR Corporation (66 HK) will announce interim results this Thursday. Credit Suisse expects its net profit to be HK$5.177 billion in 1H, up 32.6 per cent over the same period last year. It sets Outperform rating on the company, with target price at HK$33.1. (Hong Kong Economic Journal P9)

New Smart Energy (91 HK) plans to place up to 1.728 billion new shares at the placing price of HK$0.044 per share, representing a discount of around 10 per cent to its closing price yesterday. The net proceeds raised from the placement will be around HK$73 million. (SingTao Daily B5)

It is reported that three property development projects in Beijing being undertaken by New World China Land (917 HK) have been included in “Summary of idling status of lands of real estate”. The company clarifies that the delay in commencement of the respective construction works of the projects is mainly caused by delay in preparatory-stage works. New World China Land is of the view that the projects would not be constituted as idle land and the company shall not be subject to any necessary penalty relating to idle land legislations under relevant PRC law. (SingTao Daily B5)

Nine Dragons Paper (2689 HK) has been included in the list of backward capacity issued by China’s Ministry of Industry and Information Technology (MIIT), the capacity involved in the elimination is about 550,000 tons. Nine Dragons clarifies that the production lines eliminated are very outdated and the elimination was planned by the company earlier, not because of being listed by MIIT. Its share price fell 2 per cent to close at HK$11.52 yesterday. (SingTao Daily B5)

Sinotrans Shipping (368 HK) posted net profit of US$58.48 million for the six months ended 30 June, down 8.7 per cent over the same period last year. Revenues rose 11.9 per cent to US$133.7 million. It declares an interim dividend of 2 HK cents per share. (Hong Kong Economic Times A10)

Wynn Macau (1128 HK) posted net revenues of US$714 million for the three months ended June 30, surging 74 per cent over the same period last year. Net revenues amounted to US$1.305 billion for the six months ended June 30. (Hong Kong Economic Journal P9)

Zhaojin Mining Industry (1818 HK) expects 1H results to be announced soon to increase significantly over the same period last year as output of gold and the selling price of gold rose sharply during the period. (Hong Kong Economic Times A10)

Zijin Mining (2899 HK) posted a net profit of HK$2.73 billion yuan for the six months ended 30 June 2010, soaring 41 per cent. Earnings per share were HK$0.187. No dividend was declared. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap August 6th, 2010

IPO: It is said that Boshiwa plans to list in HK to raise 200 million to 300 million dollars. That is around HK$1.56 billion to 2.34 billion. The company headquartered in Shanghai is a manufacturer of garments for children. (Hong Kong Economic Times A8)

IPO: Bright Smart Securities will start IPO on 12 Aug and list on 25 Aug to raise HK$200 million to 300 million. Somerley and BOCOM International will be sponsors of the listing. (Hong Kong Economic Times A8)

Chinasoft International (354 HK) earned 4.1 million yuan for the six months ended 30 June. Turnover climbed 55 per cent to 690 million yuan during the period. No interim dividend was declared. (SingTao Daily B18)

Harbin Power Equipment (1133 HK) posted net profit of 466 million yuan for the six months ended 30th June, up 1.07 times. Earnings per share amounted to 0.32 yuan. No interim dividend was declared. (SingTao Daily B18)

Phoenitron Holdings (8066 HK) recorded net profit of HK$70 million in 1H, down 83 per cent over the same period last year. Basic earnings per share were 0.14 HK cents. No interim dividend was declared. (SingTao Daily B18)

Swire Pacific’s (19 HK) net profit went up over 3.3 times in 1H over the same period last year. At least 6 securities firms raised target price on the company on better-than-expected results on 6 Aug, taking its target price ranging between HK$100.4 and 116.7. (Hong Kong Economic Times A8)

The United Laboratories International (3933 HK) saw profit climb 2.6 times to HK$480 million in 1H. Executive director Leung Wing Hon says from now on the company will pay dividends twice a year. Morgan Stanley maintains Overweight rating on the company. (Hong Kong Economic Journal P2)

IPO: West China Cement is aiming to raise HK$2.34 billion through IPO starting tomorrow. ICBC International and Deutsche Bank will be its sponsors. The valuation of West China Cement is between HK$8.3 billion and HK$10 billion, which are equivalent to 7.4 -9 times its forecast P/E ratio in 2010. (SingTao Daily B13)

Artist Empire (789 HK) Gifts & Premium Mfy. Limited, a wholly owned subsidiary of Artini China, has signed an agreement with China Post Trade Development Co. Ltd., in which CPT is appointed as the exclusive agent of Artist Empire for a term of 24 months commencing from 6 August 2010 up to 5 August 2012. (Hong Kong Economic Times A10)

Hebei Taihang Cement Co., Ltd, BBMG (2009 HK) A-share listing subsidiary, announced its net profit amounted to 51.1 million yuan for the first half ended 30 June 2010, rising 30 per cent. (SingTao Daily B13)

China Kangda Food (834 HK) announced that its HK105-million loan agreement signed in October 2008 was said to breach the contract. The company is required to repay the balance of the loan, HK$78.75 million, in instalments starting from July 2010, the first of which was repaid according to the schedule. (SingTao Daily B13)

Dalian Port (PDA) (2880 HK) posted a net profit of 326 million yuan for the six months ended 30 June 2010, up 19.9 per cent. No interim dividend was declared. The increase in profit was mainly driven by the growth in operating profit and gains on disposal of assets, etc. (Hong Kong Economic Times A10)

Sofa manufacturer Man Wah (1999 HK) is bullish on the growth of domestic demand in the mainland. It is increasingly to place the focus on the mainland market. The chairman expects to set up mainland outlets from current 509 to 1,000. (SingTao Daily B13)

Tack Fat Group (928 HK) announced to hold an extraordinary general meeting on August 13 for discussing the capital reduction. It is proposed that the par value of each issued share of the company be reduced from HK$0.1 to HK$0.001 and the authorised share capital shall be reduced from HK$400 million to HK$4 million. (SingTao Daily B13)

Zhaojin Mining (1818 HK) announced that a fire accident caused by overheating cables occurred earlier at Luoshan gold mine in Zhaoyuan city, Shandong province where the Company is located. The involved gold mine is not one of its gold mines. As required by the local government, Zhaojin has suspended the underground exploitation of its mines in Zhaoyuan region since August 7, and fully launched the self-examination and self-correction activities to further strengthen and enhance its safety management measures to ensure safe production. (Hong Kong Economic Journal P9)

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

Hong Kong Stock Market Wrap August 5th, 2010

Beijing Capital Land Limited (2868 HK) achieved contracted amount of 470 million yuan in July, up 26 per cent mom. Contracted amount was 4.9 billion yuan in the first 7 months. (Hong Kong Economic Journal P12)

Cheung Kong (1 HK) recorded about 4 per cent rise in net profit to HK$11.92 billion in the first half. Earnings per share were HK$5.15 while interim dividend was HK$0.5 per share, unchanged from a year ago. (SingTao Daily B1)

Dragonite International (329 HK) has issued profit warning earlier but its share price surged over 30 per cent yesterday. Chairman Wong Yin Sen says he does not know the reason of the share price increase. (SingTao Daily B2)

GOME Electrical Appliances (493 HK) has filed a writ of summons in the High Court against former executive director and major shareholder Wong Kwong Yu for his alleged breach of fiduciary duties relating to the shares repurchases in 2008 and is seeking compensation. Trading of shares resumes today. (Hong Kong Economic Times A12)

Greentown China Holdings (3900 HK) recorded contracted sales of around 22 billion yuan in the first 7 months. Contracted sales in July amounted to 2.6 billion yuan. (Hong Kong Economic Journal P12)

GZI Real Estate (405 HK) total distributable income for the 2010 interim period hit 116 million yuan (around HK$133 million), rising 4.9 per cent year-on-year. Earnings per unit were 0.2563 yuan. An interim distribution of around HK$0.1246 per unit was declared. (SingTao Daily B3)

Hutchison (13 HK) net profit jumped 12 percent to HK$6.45 billion for the first six months ended June 30, beating market forecasts. The increase in profit is mainly attributable to a compensation contribution of over HK$1 billion from certain suppliers and the improved port services. Earnings per share hit HK$1.51 and an interim dividend of 51 HK cents per share was paid, unchanged from last year. (SingTao Daily B1)

KTP Holdings (645 HK) controlling shareholder Lee Chi Keung, Russell has received indications from independent third parties regarding their interests in buying all or part of his shareholding. Lee is interested in around 59.76 per cent of the total issued shares. (Hong Kong Economic Times A12)

Manulife Financial (945 HK) posted a net loss of 2.398 billion Canadian dollars (around HK$18.35 billion in the second quarter, sinking into the red from the first quarter. Loss per share was 1.36 Canadian dollars. A dividend of 0.13 Canadian dollars was paid. (SingTao Daily B2)

Morning Star Resources (542 HK) announced yesterday that the placement of 1.53 billion shares at the price of HK$0.20 each by the former major shareholder through Firstway and Bonham was completed on 5 August 2010. (SingTao Daily B2)

Neo-China Land Group (563 HK) chairman Li Song Xiao decreased holding of shares in the company by 10.43 million shares at undisclosed price on 2 Aug, taking its shareholding in the company to 18.78 per cent. (Hong Kong Economic Journal P12)

Orient Overseas (316 HK) had a profit of US$1.285 billion (around HK$10 billion) in first six months, successfully returning to the red. Earning per share were US$2.05. An interim dividend of 11.5 US cents per share was declared and a special dividend of 40 US cents per share was also recommended. Orient Overseas share price ended up 1.5 per cent to HK$63.65 yesterday. (SingTao Daily B3)

Peace Mark (Holdings) (304 HK), who has appointed provisional liquidators, signed an escrow and exclusivity agreement with investor Global Peak Investments regarding restructuring in Nov last year but the latter sent a notice to terminate the agreement in May. A new exclusivity agreement was signed on 23 July amongst the provisional liquidators, the company and investor Fan Rongzhang for the implementation of the restructuring proposal. (Hong Kong Economic Times A12)

Tao Heung Holdings (573 HK) CEO Leung Yiu Chun Eric said yesterday that same store sales in the mainland grew 3 per cent in 1H while dipped 2-3 per cent in HK as rising inflation hurt consumption. It plans to increase contribution from mainland business to 25 per cent within 2 years. (Hong Kong Economic Times A12)

TCI Master Fund, a subsidiary of TCI Fund Management, decreased holding of over 950,000 units in The Link Real Estate (823 HK) at an average price of HK$20.196 per unit on August 2. Its stake in the company goes down to 4.97 per cent while its parent, TCI Master Fund, still holds more than 50 per cent equity interest in The Link Real Estate currently. (SingTao Daily B2)

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

Hong Kong Stock Market Wrap August 4th, 2010

UBS says sales of BaWang International (1338 HK) has gone down by 60 per cent to 90 per cent. It lowers rating on the company from Neutral to Sell, target price to HK$4.3. (Hong Kong Economic Times A12)

BYD Company (1211 HK) lowered full-year sales target by 25 per cent yesterday, from 800,000 units to 600,000 units. Morgan Stanley sets target price at HK$64. (Hong Kong Economic Times A12)

Cathay Pacific Airways (293 HK) posted a net profit of HK$6.84 billion for the six months ended June 30, soaring 7.42 times to set a record high in interim results. Earnings per share were HK$1.739. An interim dividend of 33 HK cents per share was declared. Cathay shares jumped nearly 4 percent to a 30-month high of HK$18.08 yesterday following release of the rosy results. (SingTao Daily B1)

China Aerospace (31 HK) announced that the company has acquired 35 per cent of the equity capital of Hainan Aerospace Investment Management Company Limited through a public tender. The consideration for the acquisition was around 46 million yuan. (SingTao Daily B2)

Clear Media (100 HK) had a 172 per cent increase in net profit to HK$77 million for the six months ended 30 June 2010. Earnings per share were 14.72 HK cents. No interim dividend was declared. (SingTao Daily B2)

PLANS TO ISSUE SENIOR NOTES
Country Garden Holdings (2007 HK) plans to issue 5-year senior notes to repurchase the outstanding convertible bonds due 2013 and to fund existing and new property projects, including construction costs and land premium. S&P gives them a BB- rating. (Hong Kong Economic Journal P8)

First Tractor (38 HK) proposed to acquire a 51 per cent equity interest in Luoyang Tractors Research Company Limited from its parent. The company intends to satisfy the consideration of 150 million yuan by its internal resources. (SingTao Daily B2)

Hong Kong Resources (2882 HK) seek to issue convertible bonds in the aggregate principal amount of HK$216 million due three years. Based on the initial conversion price of HK$1.58 per share, the company will issue around 136.7 million conversion shares, representing about 6.56 per cent of the issued share capital as enlarged upon full conversion of the convertible bonds. (SingTao Daily B3)

Market generally expects Hutchison Whampoa’s (13 HK) net profit to go down 27 per cent and core earnings to go up 20-30 per cent. Credit Suisse suggests Buy, with target price at HK$70.4. (Hong Kong Economic Times A2)

National Investments Fund (1227 HK) plans to place up to 788 million shares at a price of HK$0.041 per share, representing a discount of 18 per cent to its closing price yesterday. It intends to use the net proceeds of about HK$31.8 million from the placing for investments and as general working capital of the company. (SingTao Daily B2)

Poly (Hong Kong) Investments (119 HK) places up to 400 million shares, representing around 11 per cent of the issued share capital as enlarged, to raise around HK$3.5 billion. (Hong Kong Economic Journal P8)

Powerlong Real Estate (1238 HK) said that its contracted sales in July amounted to 666 million yuan; soaring 2.35 times year-on-year and surging 3.01 times month-on-month. (SingTao Daily B2)

Shanghai Forte Land (2337 HK) posted contractual sales amount of 617 million yuan in July, with sales area around 50,000 square metres. Sales area amounted to 4.7 million m2 in the first 7 months, involving 6.627 billion yuan. (Hong Kong Economic Journal P11)

StanChart (2888 HK) posted a 11.4 per cent increase in first-half profit to touch a record US$2.098 billion (around HK$16.28 billion) year-on-year. Earnings per share were US$1.049. An interim dividend of 23.35 US cents (around HK$1.82) per share was paid. StanChart shares in Hong Kong ended down 1.75 per cent to HK$225. (SingTao Daily B2)

Suncorp Technologies (1063 HK) acquires fiber optic backbone network business for HK$4.98 billion. It also intends to consolidate every four shares into one consolidated share and place up to 6.9 billion new consolidated shares at no more than HK$0.5 per placing share. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap August 3rd, 2010

CR Cement (1313 HK) announced that it has agreed to acquire the entire equity interest in the three subsidiaries of Universal Cement. It is expected that the total consideration will be reduced to HK$810 million from HK$820 million. In addition, CR Cement also said that the results of the due diligence review on the target companies were satisfactory. (SingTao Daily B4)

Clear Media (100 HK) saw net profit climb 172 per cent to around HK$77.33 million for the six months ended 30 June. Turnover amounted to around HK$584 million during the period. (Hong Kong Economic Journal P8)

Daiwa expects Golden Eagle Retail (3308 HK) to record double-digit growth in profit in 1H, with core profit of 481 million yuan. It sets Buy rating on the company, with target price at HK$18.7. (Hong Kong Economic Times A11)

Greentown China (3900 HK) plans to establish a joint venture company with its chairman Song Weiping and a consulting company. Greentown will make a capital contribution of 74 million yuan in the joint venture that will be engaged in property construction management and advisory services in the mainland. Upon the establishment of the joint venture, Greentown will own 37 per cent equity interest in the jv company. (SingTao Daily B4)

Hang Seng Bank (11 HK) CEO Leung Ko May Yee Margaret believes the bank can maintain to pay a full-year dividend of HK$5.2. Morgan Stanley sets “in line with market” rating on the bank, with target price at HK$114. (Hong Kong Economic Times A10)

HAECO (44 HK) net profit for the first half of 2010 was HK$338 million, a reduction of 21 per cent from the same period a year ago. Earnings per share were HK$2.03. An interim dividend of HK$0.45 per share was declared, down 10 per cent from last year. (SingTao Daily B5)

KWG Property Holding (1813 HK) plans to issue guaranteed senior notes to finance existing and new property projects, subject to market conditions and investor interest, with Morgan Stanley and Standard Chartered as the joint lead managers and the joint bookrunners.

Luoyang Glass Company (1108 HK) expects to return to the black in 1H on various factors such as decrease in costs, good glass market, increased product sale prices and increased gross profit. (Hong Kong Economic Times A11)

According to HKEx data, New World Development (17 HK) decreased holding of over 14 million shares in Renhe Commercial Holdings Company Limited (1387) at an average price of HK$1.636 per share on July 30. Capital amounting to over HK$23 million was involved in the transaction. (SingTao Daily B4)

Omnicorp (94 HK) has allotted and issued a total of 230 million shares to Sino-Forest at a price of HK$1.82 per share for a consideration of HK$418.6 million. (Hong Kong Economic Journal P8)

Pacific Basin Shipping (2343 HK) first half net profit plunges 30 per cent to US$51.9 million (around HK$400 million). Earnings per share were 21 HK cents. An interim dividend of 5 HK cents per share was paid, declining 37 per cent. But it expects the full-year dividend to be maintained at 50 per cent level. (SingTao Daily B5)

Shenguan Holdings (829 HK) expects to record a significant increase in unaudited consolidated net profit for the six months ended 30 June 2010. The increase in its first half net profit is arisen from normal operations of the company. (SingTao Daily B4)

Shimao Property Holdings (813 HK) posted July sales of 2 billion yuan, up 13 per cent over June. Contracted sales and area for the first 7 months were 13.3 billion yuan and 1.1812 million sqm respectively. (Hong Kong Economic Times A11)

Tom Group (2383 HK) recorded a loss of more than HK$66 million for the six months ended 30 June 2010, sinking into red this year. Loss per share was 1.7 HK cents. No dividend was paid. (SingTao Daily B4)

Willie International (273 HK) plans to place 205.7 million shares at a price of HK$0.165 each, representing a discount of around 17 percent. The company proposed to use the net proceeds from the placing, around HK$33 million, for the general working capital of the company. (SingTao Daily B4)

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

Hong Kong Stock Market Wrap August 2nd, 2010

Bio-Dynamic Group (39 HK) plans to raise net proceeds of around HK$42.38 million by way of top-up placing of up to 90 million shares at a price of HK$0.48 per share, representing over 14 per cent discount to its close yesterday. (SingTao Daily B3)

Brightoil Petroleum (933 HK) has signed a memorandum of agreement to buy two oil tankers for a total consideration of HK$897 million. The consideration will be funded by internal resources and bank financing. (SingTao Daily B3)

Chevalier Pacific (508 HK) has confirmed to acquire a 90 per cent stake in the target company, which holds 36 per cent interest in a magnetite-mining project in the Philippines, from its executive director Fan Amy Lizhen. The total consideration will be HK$648 million. (SingTao Daily B3)

China Eastern Airlines (670 HK) largest single shareholder China National Aviation, which holds 12 per cent interest of H shares in the company, sold 20 million shares in China Eastern Airlines at a price of HK$4.226 for HK$84 million on July 28. The interest in the company held by China National Aviation has been decreased to 4.72 per cent. (SingTao Daily B3)

Convenience Retail Asia (8052 HK) saw turnover rise 2.9 per cent to HK$839 million in Q2 over the same period last year. Net profit attributable to shareholders went up 9.1 per cent to HK$23.86 million. An interim dividend of 1.9 HK cents per share and a special dividend of 2.4 HK cents per share were proposed. (Hong Kong Economic Times A12)

High Fashion International (608 HK) expects profit to increase for the six-month ended 30 June as gain on fair value changes on derivative financial instruments and fair value of investment properties rose. It will announce interim results by late August. (Hong Kong Economic Times A12)

HSBC (5 HK) recorded profit attributable to shareholders of HK$52.562 billion in 1H, surging 102.06 per cent over the same period last year. Profit before tax amounted to HK$86.3 billion, up 121.24 per cent. (Hong Kong Economic Journal P1)

Hutchison Telecommunications (215 HK) Hong Kong saw net profit rise 41 per cent to HK$361 million for the six months ended 30 June. Turnover went up 4.5 per cent to HK$4.283 billion. Interim dividend per share of 3.32 HK cents was recommended. (Hong Kong Economic Times A12)

Lumena Resources (67 HK) controlling shareholder Nice Ace Technology fully repaid loan from BOCI on 30 July and share charge was released. (Hong Kong Economic Times A12)

Morning Star (542 HK) major shareholders plan to place 1.53 billion shares of which 750 million shares have been subscribed and 700 million shares have been bought by Fong Shing Kwong. Mr. Fong will hold nearly 29 per cent interest in the company after completion of the transaction. (SingTao Daily B3)

Pearl Oriental (632 HK) announced that the company and Zhang Jingyuan shall withdraw all their legal claims and it shall dispose of its stake in the joint venture company to Mr. Zhang. As the company has already made a full provision of impairment loss in respect of the joint venture, it expects to have a substantial non-recurrent income from the sale of the equity interest.

Poly (Hong Kong) Investments (119 HK) posted net profit of HK$736 million for the six months ended 30th June, surging 38.9 times over the same period last year. Turnover climbed 5.1 times to HK$2.766 billion. Earnings per share were 23.91 HK cents. (Hong Kong Economic Times A12)

Proview International (334 HK) announces that a bankruptcy order has been granted against Mr. Yang at the High Court and Mr. Yang has tendered his resignation as the chairman, the chief executive officer and an executive director of the company with effect from 2 August 2010 due to his inability to further perform his duty as a director. (SingTao Daily B3)

Willie International (273 HK) expects to record an interim loss due to net fair value losses on investments held for trading, loss on disposal of subsidiaries and any possible allowance for doubtful debts. (SingTao Daily B3)

Xinyi Glass (868 HK) posted net profit of HK$641.8 million for the six months ended 30 June, up 185 per cent over the same period last year. Turnover was HK$2.648 billion, up 62.7. An interim dividend of 8 HK cents per share was declared. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap July 30th, 2010

Shenzhen Airlines under Air China (753 HK) signs agreement with Airbus Company to buy 10 Airbus 320-series aircraft for a basic price of around HK$6.324 billion. Significant price concessions, however, will be given to Shenzhen Airlines. (SingTao Daily B18)

Artini China (789 HK) recorded loss of HK$100 million for the year ended 31 March. Loss per share was HK$0.098. Turnover dropped 35.1 per cent to HK$366 million. No dividend was declared. (Hong Kong Economic Journal P4)

China Kangda Food Company (834 HK) expects unaudited net profit for the six months ended 30 June 2010 to be lower as cost of raw materials for processed food rose and supply of chicken meat products to the PRC was in excess. (Hong Kong Economic Journal P4)

CVM Minerals (705 HK) buys certain interests that hold certain mining concessions in respect of coal, manganese and iron ore in Aceh, Indonesia for a consideration of HK$120 million. HK$24 million of which will be paid in cash and the rest will be paid by issuing over 14 per cent new shares as enlarged. (SingTao Daily B18)

Hang Lung Properties (101 HK) granted an option to Philip Nan Lok Chen on 29 July to subscribe for 10 million shares. Exercise price is HK$33.05 per share. Validity period is ten years. (SingTao Daily B18)

Ko Yo Ecological Agrotech (827 HK) expects a loss in 1H on decrease in operating gross profit as market prices of urea and other chemical products went down because of global financial crisis and the drought in south western part of China. (Hong Kong Economic Journal P4)

Trading in the shares of PetroAsian Energy (850 HK) has been suspended since yesterday due to delay in announcing results for the year ended 31 March. The company says certain audit issues were raised by its joint auditors including the valuation treatment on certain assets during the course of finalizing the audit on the financial statements. (Hong Kong Economic Times A11)

Beijing North Star (588 HK) issued profit warning yesterday. Based on preliminary calculation, the company expects to have a decrease by more than 55 per cent in profit (excluding gains from change in fair value of investment properties) for the six months ended 30 June 2010 (SingTao Daily B13)

Chinavision Media (1060 HK) announced that it has signed a non-legally binding letter of intent to acquire 50 per cent equity interest in a company that is principally engaged in internet-related businesses at a consideration of around US$100 million which will be subject to adjustment depending on the terms and conditions and the results of due diligence. (SingTao Daily B13)

Chun Wo Development (711 HK) has confirmed to make the bonus warrant issue on the basis of three warrants for every sixteen existing shares. The exercise price of the warrant is HK$0.50 per share, representing a discount of 10.71 per cent to its close on last trading day. (SingTao Daily B13)

Dragon Hill (305 HK) has submitted the tenders to Liuzhou Bureau of Land Resources for the purpose of acquiring the land located in Liuzhou, Guangxi Zhuang Autonomous Region at a consideration of 140 million yuan. (SingTao Daily B13)

Guangzhou R&F Properties (2777 HK) contracted sales in July hit 3.092 billion yuan, surging 89 per cent month-on-month. Its sales income amounted to 15.284 billion yuan in the first seven months, accounting for 51 per cent of its full-year target. The company does not intend to amend its full-year target, but it maintains the plan to spin off and sell Guangzhou Asian Games City in the third quarter. (Hong Kong Economic Journal P8)

Hunan Nonferrous Metals (2626 HK) announced that China Minmetals has completed the transaction of acquiring 51 per cent stake in the company for 5.595 billion yuan. As China Minmetals has indirectly held 53.08 per cent equity interest in its parent Hunan Nonferrous Metals currently, it will make a general offer to H-share shareholders of Hunan Nonferrous Metals at a price of HK$1.73 per H share, 30.8 per cent off to its closing price at HK$2.5 last Friday. (Hong Kong Economic Times A11)

Renhe (1387 HK) has secured approvals from the National Civil Air Defense Office to develop and operate underground commercial centres in Wuxi City, Jiangsu Province and Anyang City, Henan Province. Jiangsu Wuxi Taihu Plaza Project is located underneath Taihu Plaza in the Nanchang District and the approved total gross floor area of the project is about 250,000 square metres. Henan Anyang Project is located underneath Hongqi Road, Jiefang Road, Tangzi Lane and Wenfeng Street North and the approved total gross floor area of the project is around 86,000 square metres. (Hong Kong Economic Times A11)

Richfield Group (8136 HK) announced that its wholly owned subsidiary has signed provisional sale and purchase agreement for the acquisition of 83 per cent equity interest in the property located at nos. 142 to 152 of Carpenter Road Kowloon city. The aggregate cash consideration is around HK$208 million. (SingTao Daily B13)

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