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
