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
