Tuesday, August 17, 2010

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