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
