AgBank (1288 HK) booked net profit of 24.306 billion yuan in Q3, up 29.53 per cent. EPS went up 14.29 per cent to 0.08 yuan. Net fee and commission income was 11.573 billion yuan. Net interest income reached 62.315 billion yuan, up 41.69 per cent. (Hong Kong Economic Journal P2)
BOC (3988 HK) posted net interest income of 48.94 billion yuan in Q3, up 19.69 per cent. Net fee and commission income rose 12.8 per cent to 13.038 billion yuan. Net profit amounted to 27.222 billion yuan, up 29.31 per cent. EPS was 0.11 yuan. (Hong Kong Economic Journal P2)
China 3D Digital Entertainment (8087 HK) announces that the name of the company will be changed from “Dragonlott Entertainment Group Limited” to “China 3D Digital Entertainment Limited” effective today. (SingTao Daily B4)
China National Materials (1893 HK) saw net profit climb 78.3 per cent to 843 million yuan in the first 3Qs. Turnover amounted to 29.48 billion yuan, up 47.7 per cent over the same period in 2009. Basic EPS was 0.24 yuan. (Hong Kong Economic Times A14)
China Southern Airlines (1055 HK) posted a profit attributable to shareholders of 3.041 billion yuan for the third quarter, soaring 970 per cent. Basic earnings per share rose 850 per cent to 0.38 yuan. Operating income leaped 45 per cent to 23.155 billion yuan, while total operating cost went up 19.6 per cent to 18.88 billion yuan.
(SingTao daily B3)
CITIC Resources’ (1205 HK) proposed spin-off and separate listing of CITIC Dameng were given green light at the SGM yesterday. Market sources say that the latter will kick off presentation in early Nov, aiming to raise US$300-400 million (around HK$2.34-3.12 billion).
(SingTao Daily B4)
Jiangxi Copper (358 HK) saw net profit leaping 127.3 per cent year on year to 1.275 billion yuan for the third quarter. Earnings per share amounted to 0.42 yuan. Revenue for the first three quarters amounted to 57.206 billion yuan, surging 66.26 per cent year on year. Shares of the company ended down 4.39 per cent at HK$21.75 yesterday.
Leoch International Technology (842 HK) reportedly plans to issue around 333 million shares at an offer price ranging between HK$3.75 and HK$5.35 a share. Maximum offer price a board lot of 1000 shares was around HK$5403.9. It will kick off its IPO on 3 Nov and list on 16 Nov. (Hong Kong Economic Journal P8)
PetroChina Company (857 HK) saw profit go up 12.5 per cent to 34.7 billion yuan in Q3 and go up over 23 per cent to 100.03 billion yuan for the first 9 months. EPS amounted to 0.55 yuan, meeting market expectations. (Hong Kong Economic Times A14)
Ping An Insurance (Group) Company (2318 HK) recorded net profit of 3.145 billion yuan in Q3, down 25.92 per cent yoy, down 37.85 per cent qoq. Net profit for the first 3Qs amounted to 12.756 billion yuan, up merely 8.82 per cent yoy. (Hong Kong Economic Journal P6)
Shanghai Electric Group (2727 HK) announced yesterday that it will sign equipment-related contracts with Reliance ADA of India to sell 36 coal fired super critical thermal power generation equipment and the mandatory spare parts for US $8.291 billion on 28 Oct. The group expects this will generate annual sales revenue of US$500 million to US$600 million for more than 10 years ahead. (Hong Kong Economic Journal P4)
Ruinian International (2010 HK) raised up to HK$740 million in a top-up placement of 100 million shares via Morgan Stanley yesterday, according to market sources. The placing price of HK$7.2-7.4 apiece represented a discount of 5-7.6 per cent to its closing price before trading suspension yesterday. (SingTao Daily B5)
SITC International (1308 HK), which made debut trading in early Oct, saw a net profit of US$88.6 million for the first three quarters, surging over 334.3 per cent year on year. Gross profit in the period went up 194.1 per cent year on year to US$125 million. Turnover amounted to US$647 million, increasing by 34.3 per cent year on year. (SingTao Daily B5)
Zijin (2899 HK) posted a 19.1 per cent growth of net profit to 1.14 billion yuan for the third quarter. Earnings per share was 7.8 fen, rising 18.2 per cent year on year. Turnover amounted to 7.16 billion yuan, soaring 39.5 per cent year on year. Profit for the first three quarters surged 33 per cent to 3.85 billion yuan.
(SingTao Daily B5)
ZTE Corp (763 HK) booked a net profit of 483 million yuan for the third quarter ended Sep 30, climbing 14 per cent over the same period a year ago. Revenue amounted to 15.33 billion yuan, rising 7.5 per cent. Earnings per share was 0.17 yuan. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, October 28, 2010
Wednesday, October 27, 2010
Hong Kong Stock Market Wrap October 26th, 2010
Credit Suisse is bullish on AgBank (1288 HK), maintaining Outperform rating on the bank. It raises target price by 3.6 per cent to HK$4.66, expecting its Q3 profit to be 23.667 billion yuan. (Hong Kong Economic Journal P8)
BYD (1211 HK) saw net profit plunging 99 per cent year on year to 11.34 million yuan for the third quarter ended Sep 30. Net profit for the first three quarters amounted to 2.433 billion yuan, edging up 4 per cent year on year. Earnings per share amounted to 1.07 yuan. Turnover during the period was 34.5 billion, rising nearly 31 per cent. BYD shares ended down over 10 per cent, at HK$51.05 yesterday, with a turnover of HK$1.365 billion. (SingTao Daily B2)
China Coal Energy’s (1898 HK) third quarter profit dipped 12.4 per cent to 1.65 billion yuan, according to the International Accounting Standards. The profit was up 14 per cent to 1.609 billion yuan if adopting the China standards. Quarterly earnings per share amounted to 12 fen, climbing 9 per cent. (SingTao Daily B3)
Sinopec Corp says that China Petrochemical Corporation (386 HK) has injected its major refining business into the company and the latter undertakes to dispose the remaining refining business in five years. (SingTao Daily B3)
China Tian Lun Gas (1600 HK) kicks off IPO today. Offer price ranges between HK$1.52 and HK$2.05 per share. Maximum offer price a board lot of 1500 shares is HK$3105.99. It is to list on 10 Nov. CCB International sponsors the IPO. (Hong Kong Economic Journal P8)
After placing shares to a fund OZ Management days ago, Coolpoint Energy (8032 HK) suspended trading in its shares yesterday. It is said that the company places 900 million shares at HK$0.67 per share to raise around HK$603 million for general working capital purpose. (Hong Kong Economic Times A14)
Garron International (1226 HK) announces that Sky Year, 55 per cent interest held by Chen Yi-quan, has acquired an aggregate of 21.67 per cent interest in the company from executive director Poon Ho-man and another investor, at a price of about HK$3.32 per share. Three directors including Poon have tendered resignation. The company has appointed Chen Yi-quan, Xie Le-shan and Lo Chi-ming as directors. (SingTao Daily B3)
Global Dairy’s (1007 HK) offer price ranged between HK$3.6 and HK$5.2 per share. It is said that it fixes the price at HK$4.49 a share. Macquarie sponsors the IPO. (Hong Kong Economic Journal P8)
Huadian Power International (1071 HK) lost 384 million yuan in the third quarter, while it booked a profit of 360 million yuan over the same period last year. The company recorded a loss of 348 million yuan for the first three quarters. It is expected the full-year profit to drop at least over 50 per cent. (SingTao Daily B3)
Hua Lien International (969 HK) announces planning to form a joint venture company with CADFund and COMPLANT for developing the ethanol biofuel business in Benin, Africa. The JV is expected to have a total issued capital of US$23.72 million and will be subscribed by CADFund, COMPLANT and Hua Lien as to 25 per cent, 10 per cent and 65 per cent respectively, which will be satisfied by way of shareholders’ loan. (SingTao Daily B3)
Paradise Entertainment (1180 HK) has noted that there are certain press articles relating to the possible sale of the company’s biopharmaceutical business. The company clarifies that it has explored the possibility of sale of the biopharmaceutical business. (SingTao Daily B3)
Silver Base Group (886 HK) expects to record an increase in profit for the six months ended Sep 30 as compared with the corresponding period of last year. Such expected increase was mainly due to the increase in revenue resulting from the development and expansion of distribution channel and network. (SingTao Daily B3)
Weichai Power (2338 HK) saw net profit rise 35 per cent yoy to 1.566 billion yuan in Q3. Net profit for the first 3Qs reached 4.8 billion yuan, jumping 1.02 times yoy. It expects full-year results will go up sharply by 75-105 per cent to around 5.963 billion -6.985 billion yuan. (Hong Kong Economic Journal P8)
Yashili International’s (1230 HK) offer price ranged between HK$3.55 and HK$4.8 a share. It fixes the price at HK$4.2 per share. UBS AG and Merrill Lynch Far East sponsor the IPO. (Hong Kong Economic Journal P8)
Xtep International (1368 HK) chairman Ding Shui Po reportedly plans to place 108 million shares at HK$6.65-6.87 per share, around 5-8 per cent discount to yesterday’s closing price. Shares closed at HK$7.23 yesterday, down HK$0.16 or 2.2 per cent. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
BYD (1211 HK) saw net profit plunging 99 per cent year on year to 11.34 million yuan for the third quarter ended Sep 30. Net profit for the first three quarters amounted to 2.433 billion yuan, edging up 4 per cent year on year. Earnings per share amounted to 1.07 yuan. Turnover during the period was 34.5 billion, rising nearly 31 per cent. BYD shares ended down over 10 per cent, at HK$51.05 yesterday, with a turnover of HK$1.365 billion. (SingTao Daily B2)
China Coal Energy’s (1898 HK) third quarter profit dipped 12.4 per cent to 1.65 billion yuan, according to the International Accounting Standards. The profit was up 14 per cent to 1.609 billion yuan if adopting the China standards. Quarterly earnings per share amounted to 12 fen, climbing 9 per cent. (SingTao Daily B3)
Sinopec Corp says that China Petrochemical Corporation (386 HK) has injected its major refining business into the company and the latter undertakes to dispose the remaining refining business in five years. (SingTao Daily B3)
China Tian Lun Gas (1600 HK) kicks off IPO today. Offer price ranges between HK$1.52 and HK$2.05 per share. Maximum offer price a board lot of 1500 shares is HK$3105.99. It is to list on 10 Nov. CCB International sponsors the IPO. (Hong Kong Economic Journal P8)
After placing shares to a fund OZ Management days ago, Coolpoint Energy (8032 HK) suspended trading in its shares yesterday. It is said that the company places 900 million shares at HK$0.67 per share to raise around HK$603 million for general working capital purpose. (Hong Kong Economic Times A14)
Garron International (1226 HK) announces that Sky Year, 55 per cent interest held by Chen Yi-quan, has acquired an aggregate of 21.67 per cent interest in the company from executive director Poon Ho-man and another investor, at a price of about HK$3.32 per share. Three directors including Poon have tendered resignation. The company has appointed Chen Yi-quan, Xie Le-shan and Lo Chi-ming as directors. (SingTao Daily B3)
Global Dairy’s (1007 HK) offer price ranged between HK$3.6 and HK$5.2 per share. It is said that it fixes the price at HK$4.49 a share. Macquarie sponsors the IPO. (Hong Kong Economic Journal P8)
Huadian Power International (1071 HK) lost 384 million yuan in the third quarter, while it booked a profit of 360 million yuan over the same period last year. The company recorded a loss of 348 million yuan for the first three quarters. It is expected the full-year profit to drop at least over 50 per cent. (SingTao Daily B3)
Hua Lien International (969 HK) announces planning to form a joint venture company with CADFund and COMPLANT for developing the ethanol biofuel business in Benin, Africa. The JV is expected to have a total issued capital of US$23.72 million and will be subscribed by CADFund, COMPLANT and Hua Lien as to 25 per cent, 10 per cent and 65 per cent respectively, which will be satisfied by way of shareholders’ loan. (SingTao Daily B3)
Paradise Entertainment (1180 HK) has noted that there are certain press articles relating to the possible sale of the company’s biopharmaceutical business. The company clarifies that it has explored the possibility of sale of the biopharmaceutical business. (SingTao Daily B3)
Silver Base Group (886 HK) expects to record an increase in profit for the six months ended Sep 30 as compared with the corresponding period of last year. Such expected increase was mainly due to the increase in revenue resulting from the development and expansion of distribution channel and network. (SingTao Daily B3)
Weichai Power (2338 HK) saw net profit rise 35 per cent yoy to 1.566 billion yuan in Q3. Net profit for the first 3Qs reached 4.8 billion yuan, jumping 1.02 times yoy. It expects full-year results will go up sharply by 75-105 per cent to around 5.963 billion -6.985 billion yuan. (Hong Kong Economic Journal P8)
Yashili International’s (1230 HK) offer price ranged between HK$3.55 and HK$4.8 a share. It fixes the price at HK$4.2 per share. UBS AG and Merrill Lynch Far East sponsor the IPO. (Hong Kong Economic Journal P8)
Xtep International (1368 HK) chairman Ding Shui Po reportedly plans to place 108 million shares at HK$6.65-6.87 per share, around 5-8 per cent discount to yesterday’s closing price. Shares closed at HK$7.23 yesterday, down HK$0.16 or 2.2 per cent. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, October 26, 2010
Hong Kong Stock Market Wrap October 25th, 2010
Aluminum Corporation (2600 HK) of China lost 118 million yuan in Q3 as compared to the profit of 21.27 million yuan in the same period last year. Turnover amounted to 28.79 billion yuan while operating costs was 29.04 billion yuan. (Hong Kong Economic Journal P8)
Anhui Conch Cement (914 HK) booked net profit attributable to equity shareholders of 1.362 billion yuan for the third quarter, soaring 45 per cent over the same period a year ago. Shares of the cement company ended 1.6 per cent higher at HK$34.3 yesterday. (SingTao Daily B3)
Beijing Enterprises Water Group (371 HK) has entered into an agreement with Guiyang Corporation in relation to the acquisition of a 45 per cent equity interest in Guiyang Water, involving a consideration of 721 million yuan. The business of Guiyang Water is to provide water supply services. (SingTao Daily B2)
Goldman Sachs raises target price for Bosideng International (3998 HK) from HK$3.1 to HK$4.2, saying that its 2010 down apparel sales will go up 40 per cent yoy. (Hong Kong Economic Times A11)
China Agrotech Holdings (1073 HK) posted turnover of HK$3.36 billion for the year ended 30 June, up 6 per cent yoy. Net profit rose 1.69 times to HK$29.79 million. No final dividend was declared. (Hong Kong Economic Journal P11)
China Merchants (144 HK) intends to issue corporate bonds in Hong Kong. It is expected that the size of the bond issue will be around 1-2 billion yuan, with a period of about two to three years. (SingTao Daily B2)
China Railway Construction (1186 HK) suspended trading yesterday and announced that the Al-Mashaaer Al-Mugadassah metro light rail project in Saudi Arabia is set to start operation on 13 Nov 2010. The project is expected to incur significant loss during the course of implementation as the actual work quantities have significantly exceeded the estimated figures. The total loss will be about 4.153 billion yuan. Trading in the shares of the company will be resumed today.
(SingTao Daily B2)
China Shipping Development (1138 HK) saw 64 per cent growth in profit for the third quarter to around 478 million yuan. Earnings per share was 14 fen. Profits for the first nine months amounted to 1.457 billion yuan, leaping 49 per cent. The company expects the full-year operating results to surge more than 50 per cent from the previous year. (SingTao Daily B2)
Coolpoint Energy announced to issue 629 million subscription shares at a price of HK$0.62 each to OZ Funds, operating entities of Och-Ziff Capital Management, and Goodwill Capital Investment and Seawheel, along with warrants conferring the rights exercisable within 30 months to subscribe for 314.52 million shares at an exercise price of HK$0.8 apiece. Coolpoint shares surged 13.7 per cent to close at HK$0.83 yesterday. (SingTao Daily B3)
Global Green Tech Group (274 HK) aims to place in aggregate up to 340 million shares at HK$0.12 apiece. The total net proceeds from the placing will be around HK$39.8 million. (SingTao Daily B2)
Guangzhou Shipyard International (317 HK) posted operating revenue of 1.627 billion yuan in Q3, down 15.52 per cent yoy. Net profit amounted to 263 million yuan, jumping 61.12 per cent. EPS was 0.53 yuan. Operating revenue fell 10.67 per cent to 4.52 billion yuan and net profit rose 49.22 per cent to 604 million yuan for the first 9 months. (Hong Kong Economic Times A11)
Hisense Kelon Electrical (921 HK) booked net profit of 139 million yuan in Q3, surging 414 per cent. Turnover amounted to 4.86 billion yuan, up 80.3 per cent. (Hong Kong Economic Journal P8)
Maoye International (848 HK) is planning to acquire Baoding Lingchuang Real Estate Development, which owns a piece of land, for a consideration of 126 million yuan. The target land is expected to construct properties with a gross floor area of about 100,000 square metres. (SingTao Daily B2)
Winsway Coking Coal Holdings (1733 HK) announces that unaudited total sales of coking coal for the first 3Qs reached 6.2 million tonnes, surging 176 per cent yoy, of which 3.5 million tonnes were Mongolian coking coal, which went up 141 per cent, 2.7 million tonnes were sea-borne coking coal, which went up 238 per cent. (Hong Kong Economic Journal P8)
Xinjiang Goldwind Science & Technology (2208 HK) booked net profit of 759 million yuan in Q3, up 55.6 per cent yoy. Revenue rose 56.9 per cent yoy to 4.59 billion yuan. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Anhui Conch Cement (914 HK) booked net profit attributable to equity shareholders of 1.362 billion yuan for the third quarter, soaring 45 per cent over the same period a year ago. Shares of the cement company ended 1.6 per cent higher at HK$34.3 yesterday. (SingTao Daily B3)
Beijing Enterprises Water Group (371 HK) has entered into an agreement with Guiyang Corporation in relation to the acquisition of a 45 per cent equity interest in Guiyang Water, involving a consideration of 721 million yuan. The business of Guiyang Water is to provide water supply services. (SingTao Daily B2)
Goldman Sachs raises target price for Bosideng International (3998 HK) from HK$3.1 to HK$4.2, saying that its 2010 down apparel sales will go up 40 per cent yoy. (Hong Kong Economic Times A11)
China Agrotech Holdings (1073 HK) posted turnover of HK$3.36 billion for the year ended 30 June, up 6 per cent yoy. Net profit rose 1.69 times to HK$29.79 million. No final dividend was declared. (Hong Kong Economic Journal P11)
China Merchants (144 HK) intends to issue corporate bonds in Hong Kong. It is expected that the size of the bond issue will be around 1-2 billion yuan, with a period of about two to three years. (SingTao Daily B2)
China Railway Construction (1186 HK) suspended trading yesterday and announced that the Al-Mashaaer Al-Mugadassah metro light rail project in Saudi Arabia is set to start operation on 13 Nov 2010. The project is expected to incur significant loss during the course of implementation as the actual work quantities have significantly exceeded the estimated figures. The total loss will be about 4.153 billion yuan. Trading in the shares of the company will be resumed today.
(SingTao Daily B2)
China Shipping Development (1138 HK) saw 64 per cent growth in profit for the third quarter to around 478 million yuan. Earnings per share was 14 fen. Profits for the first nine months amounted to 1.457 billion yuan, leaping 49 per cent. The company expects the full-year operating results to surge more than 50 per cent from the previous year. (SingTao Daily B2)
Coolpoint Energy announced to issue 629 million subscription shares at a price of HK$0.62 each to OZ Funds, operating entities of Och-Ziff Capital Management, and Goodwill Capital Investment and Seawheel, along with warrants conferring the rights exercisable within 30 months to subscribe for 314.52 million shares at an exercise price of HK$0.8 apiece. Coolpoint shares surged 13.7 per cent to close at HK$0.83 yesterday. (SingTao Daily B3)
Global Green Tech Group (274 HK) aims to place in aggregate up to 340 million shares at HK$0.12 apiece. The total net proceeds from the placing will be around HK$39.8 million. (SingTao Daily B2)
Guangzhou Shipyard International (317 HK) posted operating revenue of 1.627 billion yuan in Q3, down 15.52 per cent yoy. Net profit amounted to 263 million yuan, jumping 61.12 per cent. EPS was 0.53 yuan. Operating revenue fell 10.67 per cent to 4.52 billion yuan and net profit rose 49.22 per cent to 604 million yuan for the first 9 months. (Hong Kong Economic Times A11)
Hisense Kelon Electrical (921 HK) booked net profit of 139 million yuan in Q3, surging 414 per cent. Turnover amounted to 4.86 billion yuan, up 80.3 per cent. (Hong Kong Economic Journal P8)
Maoye International (848 HK) is planning to acquire Baoding Lingchuang Real Estate Development, which owns a piece of land, for a consideration of 126 million yuan. The target land is expected to construct properties with a gross floor area of about 100,000 square metres. (SingTao Daily B2)
Winsway Coking Coal Holdings (1733 HK) announces that unaudited total sales of coking coal for the first 3Qs reached 6.2 million tonnes, surging 176 per cent yoy, of which 3.5 million tonnes were Mongolian coking coal, which went up 141 per cent, 2.7 million tonnes were sea-borne coking coal, which went up 238 per cent. (Hong Kong Economic Journal P8)
Xinjiang Goldwind Science & Technology (2208 HK) booked net profit of 759 million yuan in Q3, up 55.6 per cent yoy. Revenue rose 56.9 per cent yoy to 4.59 billion yuan. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, October 25, 2010
Hong Kong Stock Market Wrap October 22nd, 2010
Asia Cement (China) (743 HK) saw net profit dive 65 per cent yoy to 168 million yuan for the 9 months ended 30 Sep, mainly attributable to a decrease in cement prices in Sichuan Province and higher coal prices. The company, however, expects Q4 results will improve. (SingTao Daily B10)
China Huiyuan Juice Group (1886 HK) has obtained the waiver in respect of the syndicated term loan with the balance of US$42 million. Conditions are that it shall pay US$210,000; that it shall repay US$4.2 million within 1 month from yesterday; and that the margin for calculating the interest shall be increased 0.5 per cent per annum. Financial covenants were agreed to be revised. (Hong Kong Economic Times A11)
China Packaging Group (572 HK) (provisional liquidators appointed) lost around 836 million yuan for the year ended 31 Dec 2008 as compared to the profit of around 92.5 million yuan in 2007. Turnover amounted to about 193 million yuan. Loss per share was approximately 1.366 yuan. No dividend was declared. (Hong Kong Economic Journal P6)
DaChan Food (Asia) (3999 HK) saw net profit fall 46.8 per cent to US$6.03 million for the 9 months ended 30 Sep. Revenue amounted to US$1.02 billion, up 16.2 per cent yoy. Gross profit margin dropped to 6.1 per cent. (Hong Kong Economic Journal P6)
First Mobile Group (865 HK) lost over HK$100 million for the 6 months ended 30 June. Loss per share amounted to HK$5.29 cents. It did not recommend the payment of an interim dividend.
Wing Tai Properties (369 HK) will sell around 13.9 million shares, 5.35 per cent of the issued share capital, of Winsor Properties Holdings (1036) to Standard Chartered Bank, Singapore Branch at HK$14.2 per share, involving about HK$197 million, in order to satisfy the minimum public float requirement. Its shareholding in Winsor Properties Holdings will be reduced to around 73.91 per cent after the sale. (Hong Kong Economic Journal P6)
Yanzhou Coal Mining (1171 HK) posted net profit of 3.68 billion yuan in Q3, surging 2.27 times yoy. Operating income amounted to 9.349 billion yuan, climbing 63 per cent. Net profit reached 6.314 billion yuan for the first 3Qs, up 1.08 per cent yoy. EPS was 1.28 yuan. It expects 2010 net profit to go up 100 per cent as compared with last year.
Birmingham International (2309 HK) proposes to place up to 450 million shares on a fully underwritten basis and a maximum of 1.1 billion Best Effort placing shares, totally representing 32.72 per cent of the company’s issued share capital as enlarged. The proceeds of around HK$310 million are intended to be used for general operating capital. The placing price of HK$0.2 apiece represents a 4.76 per cent discount to its close of HK$0.21 on Oct 22. (Hong Kong Economic Times A12)
JP Morgan expects BYD’s (1211 HK) net profit to plunge 55 per cent year on year to 522 million yuan for the third quarter, sliding 27 per cent from last quarter. Gross profit margin will dip 5.8 per cent year on year to 17.2 per cent. Revenue is expected to rise 2 per cent year on year to HK$10.466 billion yuan.
Datang International Power (991 HK) Generation booked over 100 per cent growth in net profit to 770 million yuan for the third quarter, mainly due to an increase in capacity of the operational generating units and an increase in sales income. Datang’s net profit for the first three quarters amounted to 1.6 billion yuan in total, rising 58 per cent. (Hong Kong Economic Times A12)
Glorious Property (845 HK) recorded over 1.6 billion yuan contracted sales in Sep. As of the second week of Oct, the total contracted sales this year increased to 6.9 billion yuan. The mainland developer expects full-year contract sales to reach not less than 12 billion yuan, saying it will make every effort to achieve the full-year contracted sales target of 15 billion yuan. (SingTao Daily B14)
Jingwei Textile Machinery (350 HK) A shares booked a net profit of over 70 million yuan for the third quarter ended Sep 30, surging around 2.62 times year on year. Earnings per share amounted to 13 fen. Net profits of the company for the first three quarters were about 105 million yuan, soaring 1.72 times year on year. Earnings per share were 0.17 yuan.
New Capital International (1062 HK) announces that Shi Tao, Lin Si-yu and Xiong Wei have resigned as executive directors with immediate effect. (SingTao Daily B14)
Shimao Group (813 HK), parent of Shimao Property, has entered into a strategic partnership agreement with Hilton in relation to the joint development and construction of hotel projects in eight China’s major cities, namely Tianjin, Nanjin, Wuhan, Xiamen, Shenyang, Qingdao, Yantai and Wuxi. The focus of the agreement is to develop the hotel brand of “Hilton” in the mainland. (SingTao Daily B14)
Sino Oil and Gas (702 HK) is planning to place an aggregate of around 432.2 million shares at a price of HK$0.45 per share or a discount of about 11.8 per cent to its closing price of HK$0.51 on Oct 22. The subscribers are subsidiaries owned by Och-Ziff Capital Management Group LLC. (SingTao Daily B14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Huiyuan Juice Group (1886 HK) has obtained the waiver in respect of the syndicated term loan with the balance of US$42 million. Conditions are that it shall pay US$210,000; that it shall repay US$4.2 million within 1 month from yesterday; and that the margin for calculating the interest shall be increased 0.5 per cent per annum. Financial covenants were agreed to be revised. (Hong Kong Economic Times A11)
China Packaging Group (572 HK) (provisional liquidators appointed) lost around 836 million yuan for the year ended 31 Dec 2008 as compared to the profit of around 92.5 million yuan in 2007. Turnover amounted to about 193 million yuan. Loss per share was approximately 1.366 yuan. No dividend was declared. (Hong Kong Economic Journal P6)
DaChan Food (Asia) (3999 HK) saw net profit fall 46.8 per cent to US$6.03 million for the 9 months ended 30 Sep. Revenue amounted to US$1.02 billion, up 16.2 per cent yoy. Gross profit margin dropped to 6.1 per cent. (Hong Kong Economic Journal P6)
First Mobile Group (865 HK) lost over HK$100 million for the 6 months ended 30 June. Loss per share amounted to HK$5.29 cents. It did not recommend the payment of an interim dividend.
Wing Tai Properties (369 HK) will sell around 13.9 million shares, 5.35 per cent of the issued share capital, of Winsor Properties Holdings (1036) to Standard Chartered Bank, Singapore Branch at HK$14.2 per share, involving about HK$197 million, in order to satisfy the minimum public float requirement. Its shareholding in Winsor Properties Holdings will be reduced to around 73.91 per cent after the sale. (Hong Kong Economic Journal P6)
Yanzhou Coal Mining (1171 HK) posted net profit of 3.68 billion yuan in Q3, surging 2.27 times yoy. Operating income amounted to 9.349 billion yuan, climbing 63 per cent. Net profit reached 6.314 billion yuan for the first 3Qs, up 1.08 per cent yoy. EPS was 1.28 yuan. It expects 2010 net profit to go up 100 per cent as compared with last year.
Birmingham International (2309 HK) proposes to place up to 450 million shares on a fully underwritten basis and a maximum of 1.1 billion Best Effort placing shares, totally representing 32.72 per cent of the company’s issued share capital as enlarged. The proceeds of around HK$310 million are intended to be used for general operating capital. The placing price of HK$0.2 apiece represents a 4.76 per cent discount to its close of HK$0.21 on Oct 22. (Hong Kong Economic Times A12)
JP Morgan expects BYD’s (1211 HK) net profit to plunge 55 per cent year on year to 522 million yuan for the third quarter, sliding 27 per cent from last quarter. Gross profit margin will dip 5.8 per cent year on year to 17.2 per cent. Revenue is expected to rise 2 per cent year on year to HK$10.466 billion yuan.
Datang International Power (991 HK) Generation booked over 100 per cent growth in net profit to 770 million yuan for the third quarter, mainly due to an increase in capacity of the operational generating units and an increase in sales income. Datang’s net profit for the first three quarters amounted to 1.6 billion yuan in total, rising 58 per cent. (Hong Kong Economic Times A12)
Glorious Property (845 HK) recorded over 1.6 billion yuan contracted sales in Sep. As of the second week of Oct, the total contracted sales this year increased to 6.9 billion yuan. The mainland developer expects full-year contract sales to reach not less than 12 billion yuan, saying it will make every effort to achieve the full-year contracted sales target of 15 billion yuan. (SingTao Daily B14)
Jingwei Textile Machinery (350 HK) A shares booked a net profit of over 70 million yuan for the third quarter ended Sep 30, surging around 2.62 times year on year. Earnings per share amounted to 13 fen. Net profits of the company for the first three quarters were about 105 million yuan, soaring 1.72 times year on year. Earnings per share were 0.17 yuan.
New Capital International (1062 HK) announces that Shi Tao, Lin Si-yu and Xiong Wei have resigned as executive directors with immediate effect. (SingTao Daily B14)
Shimao Group (813 HK), parent of Shimao Property, has entered into a strategic partnership agreement with Hilton in relation to the joint development and construction of hotel projects in eight China’s major cities, namely Tianjin, Nanjin, Wuhan, Xiamen, Shenyang, Qingdao, Yantai and Wuxi. The focus of the agreement is to develop the hotel brand of “Hilton” in the mainland. (SingTao Daily B14)
Sino Oil and Gas (702 HK) is planning to place an aggregate of around 432.2 million shares at a price of HK$0.45 per share or a discount of about 11.8 per cent to its closing price of HK$0.51 on Oct 22. The subscribers are subsidiaries owned by Och-Ziff Capital Management Group LLC. (SingTao Daily B14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 21st, 2010
AIA Group (1299 HK) closed its retail book yesterday. Retail tranche is said to be over 9.4 times oversubscribed, equivalent to locking in almost HK$110 billion. (Hong Kong Economic Times A8)
Alibaba Group (1688 HK), parent of Alibaba.com, is planning to establish a huge logistics network in the mainland, financial Times UK reports. (SingTao Daily B2)
PLANS TO ACQUIRE MAINLAND COMPANY China Metal Resources (8071 HK) announces that it is currently under negotiation with independent third parties for a possible acquisition of a mainland company engaged in the provision of technology development, logistics services, distribution management and marketing for lottery sales system. The possible acquisition is yet to be fixed. (SingTao Daily B2)
Daisho Microline (567 HK), an industrial company, eyes the mainland real estate businesses, announcing that the company will cooperate with mainland developer Yi Rui to set up a joint venture company Hua Rui. The interest of the jv firm will be owned as to 50 per cent by Daisho Microline, and as to the other 50 per cent by Yi Rui, so as to develop property business in Huizhou. (SingTao Daily B2)
Mainland menswear company Evergreen International (238 HK) kicks off IPO today to raise up to 1.09 billion. International placing reportedly was oversubscribed. According to its prospectus, 2010 profit is expected to be no less than 150 million yuan and last year profit reached 105 million yuan. It offers 237 million shares at an offer price ranging between HK$3.8 and 4.6 a share. Maximum offer price a lot is HK$4646.37. (Hong Kong Economic Times A8)
Freeman Corporation (279 HK) places 2 billion shares, around 63.49 per cent of the issued share capital as enlarged, to not fewer than 6 placees at HK$0.275 per share to raise HK$535.8 million for expanding financial services business. Shares closed at HK$0.32 yesterday. (Hong Kong Economic Journal P6)
Russian company IRC Limited (1029 HK) closed at HK$1.65, down 8.33 per cent over the offer price of HK$1.8, with trading volume of 226 million shares. Shareholders lost HK$300 in face value for a lot of shares. (Hong Kong Economic Times A8)
Maanshan Iron & Steel (323 HK) posted a net profit of 3.03 million yuan for the third quarter, plunging 99 per cent year on year. If including the first two quarters, the net profit for the first nine months was over 1 billion yuan, surging 150 times year on year. (SingTao Daily B3)
Richfield Group (8136 HK) places up to 150 million shares, around 4.87 per cent of the entire issued share capital as enlarged, at HK$1.2 per share, a discount of 14.8 per cent to yesterday’s closing price of HK$1.41, to raise HK$174 million. (Hong Kong Economic Journal P12)
Springland International (1700 HK) shares closed at HK$6.68, up almost 13 per cent over the offer price of HK$5.93, with trading volume of 445 million shares. Shareholders gained HK$750 in face value for a lot of 1000 shares, not taking charges into account. (Hong Kong Economic Times A8)
Sihuan Pharmaceutical (460 HK) closed its retail book last Wed. It is said that the price is determined at HK$4.6. That is to raise HK$5.75 billion. The company is to list on 28 Oct, next Thur. Retail tranche was over 474 times oversubscribed, locking in around HK$275 billion. (Hong Kong Economic Times A8)
Tai-I International (1808 HK) released an announcement in relation to a MOU resulting in possible change in control of the company, the reorganisation and the distribution on 14 Sep 2010. The company updates that the proposed transactions are still in discussion amongst the relevant parties and no formal agreement has been reached. (SingTao Daily B2)
Tse Sui Luen Jewellery (417 HK) says that the disputes between the company and the Inland Revenue Department have been settled. The IRD agreed not to take any further action upon receiving a payment of surcharge of HK$9 million. The payment will be made by instalments. (SingTao Daily B2)
Wynn Macau (1128 HK) announces that a board meeting will be held on Tuesday, 2 Nov 2010 for the purpose of considering and approving the payment of a special dividend and transacting other business. (SingTao Daily B2)
Q3 TURNOVER UP 30% Xinyi Glass recorded at least 30 per cent increase in turnover of four kinds of glass product in the third quarter, as compared to the average turnover of the first two quarters. Demand for float glass in Q3 is robust, leading to an 80 per cent surge in turnover, nearly reaching the total turnover for the first half, with selling price also rising 10 per cent to 250 yuan per tonne. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Alibaba Group (1688 HK), parent of Alibaba.com, is planning to establish a huge logistics network in the mainland, financial Times UK reports. (SingTao Daily B2)
PLANS TO ACQUIRE MAINLAND COMPANY China Metal Resources (8071 HK) announces that it is currently under negotiation with independent third parties for a possible acquisition of a mainland company engaged in the provision of technology development, logistics services, distribution management and marketing for lottery sales system. The possible acquisition is yet to be fixed. (SingTao Daily B2)
Daisho Microline (567 HK), an industrial company, eyes the mainland real estate businesses, announcing that the company will cooperate with mainland developer Yi Rui to set up a joint venture company Hua Rui. The interest of the jv firm will be owned as to 50 per cent by Daisho Microline, and as to the other 50 per cent by Yi Rui, so as to develop property business in Huizhou. (SingTao Daily B2)
Mainland menswear company Evergreen International (238 HK) kicks off IPO today to raise up to 1.09 billion. International placing reportedly was oversubscribed. According to its prospectus, 2010 profit is expected to be no less than 150 million yuan and last year profit reached 105 million yuan. It offers 237 million shares at an offer price ranging between HK$3.8 and 4.6 a share. Maximum offer price a lot is HK$4646.37. (Hong Kong Economic Times A8)
Freeman Corporation (279 HK) places 2 billion shares, around 63.49 per cent of the issued share capital as enlarged, to not fewer than 6 placees at HK$0.275 per share to raise HK$535.8 million for expanding financial services business. Shares closed at HK$0.32 yesterday. (Hong Kong Economic Journal P6)
Russian company IRC Limited (1029 HK) closed at HK$1.65, down 8.33 per cent over the offer price of HK$1.8, with trading volume of 226 million shares. Shareholders lost HK$300 in face value for a lot of shares. (Hong Kong Economic Times A8)
Maanshan Iron & Steel (323 HK) posted a net profit of 3.03 million yuan for the third quarter, plunging 99 per cent year on year. If including the first two quarters, the net profit for the first nine months was over 1 billion yuan, surging 150 times year on year. (SingTao Daily B3)
Richfield Group (8136 HK) places up to 150 million shares, around 4.87 per cent of the entire issued share capital as enlarged, at HK$1.2 per share, a discount of 14.8 per cent to yesterday’s closing price of HK$1.41, to raise HK$174 million. (Hong Kong Economic Journal P12)
Springland International (1700 HK) shares closed at HK$6.68, up almost 13 per cent over the offer price of HK$5.93, with trading volume of 445 million shares. Shareholders gained HK$750 in face value for a lot of 1000 shares, not taking charges into account. (Hong Kong Economic Times A8)
Sihuan Pharmaceutical (460 HK) closed its retail book last Wed. It is said that the price is determined at HK$4.6. That is to raise HK$5.75 billion. The company is to list on 28 Oct, next Thur. Retail tranche was over 474 times oversubscribed, locking in around HK$275 billion. (Hong Kong Economic Times A8)
Tai-I International (1808 HK) released an announcement in relation to a MOU resulting in possible change in control of the company, the reorganisation and the distribution on 14 Sep 2010. The company updates that the proposed transactions are still in discussion amongst the relevant parties and no formal agreement has been reached. (SingTao Daily B2)
Tse Sui Luen Jewellery (417 HK) says that the disputes between the company and the Inland Revenue Department have been settled. The IRD agreed not to take any further action upon receiving a payment of surcharge of HK$9 million. The payment will be made by instalments. (SingTao Daily B2)
Wynn Macau (1128 HK) announces that a board meeting will be held on Tuesday, 2 Nov 2010 for the purpose of considering and approving the payment of a special dividend and transacting other business. (SingTao Daily B2)
Q3 TURNOVER UP 30% Xinyi Glass recorded at least 30 per cent increase in turnover of four kinds of glass product in the third quarter, as compared to the average turnover of the first two quarters. Demand for float glass in Q3 is robust, leading to an 80 per cent surge in turnover, nearly reaching the total turnover for the first half, with selling price also rising 10 per cent to 250 yuan per tonne. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 20th, 2010
Birmingham International issues (2309 HK) an announcement in relation to the unusual price and volume movement of its shares and the delay in its results announcement, clarifying that the delay is due in part to an issue relating to the working capital requirement of its principal subsidiary. (Hong Kong Economic Journal P6)
Chen Hsong Holdings (57 HK) expects to record a significant increase in profit for the six months ended Sep 30, which is primarily due to increase in sales turnover resulting from market recovery and the one-off gain of around HK$94 million on disposal of the shares held in Keyset Development Limited. (SingTao Daily B2)
China Everbright International (257 HK) has successfully developed the biomass for electricity generation project in Linyi Xian, Shangdong and Hanshan County, Anhui. The total investment was around 640 million yuan. (SingTao Daily B2)
China Motor Bus (26 HK) recorded a net profit of HK$493 million for the year ended Jun 30, surging nearly 80 per cent year on year. Earnings per share was HK$10.8. A final dividend of 10 HK cents per share and a special dividend of HK$1.3 apiece were declared. (SingTao Daily B2)
China Mobile (941 HK) saw net profit go up 3.9 per cent yoy to 87.245 billion yuan for the first 3 quarters. EBITDA went up 6 per cent to 177.805 billion yuan. EBITDA Margin was 50.4 per cent, up 0.9 percentage point. Operating revenue amounted to 352.643 billion yuan, up 7.8 per cent. (Hong Kong Economic Times A14)
China Overseas Land & Investment (688 HK) saw operation profit for the third quarter surging 89 per cent year on year to around HK$3.4 billion. The operation profit for the first nine months this year amounted to HK$11.4 billion, up 59 per cent over the same period a year ago.
China Petroleum & Chemical (386 HK) plans to issue 23 billion yuan 6-yr convertible bonds to raise funds for developing infrastructure. It plans to use 11.4 billion yuan for its 800,000 ton-a-year ethylene plant in Wuhan and the rest for pipelines and a processing plant. Shares fell 0.4 per cent to end at HK$7.47. (Hong Kong Economic Times A14)
China State Construction International (3311 HK) posted operating profit of HK$710 million for the first 9 months, up 36.29 per cent yoy. Consolidated revenue reached HK$8.13 billion, up 2 per cent. It secured 32 new contracts with a total attributable contract value of around HK$23.21 billion, up 87.48 per cent yoy. (Hong Kong Economic Journal P11)
Ching Hing (Holdings) (692 HK) proposes a rights issue at HK$0.05 per rights share on the basis of 8 rights shares for every 1 existing share to raise HK$217.89 million to HK$219.94 million for businesses including developing the iron and titanium mine in the PRC, and for reducing liabilities, etc. Shares closed at HK$0.275 yesterday. (Hong Kong Economic Times A14)
GZI Transport (1052 HK) is planning to acquire 90 per cent equity interest in Hubei Han-Xiao Highway Construction and Operations from an independent third party for around 646 million yuan. The target company is mainly engaged in the construction, management, and operation of the Han-Xiao Expressway. It also owns the franchise to operate the Han-Xiao Expressway and the Airport North Extension as well as the advertising billboards and other service facilities, for a term up to Oct 2037. (SingTao Daily B2)
Hang Seng Bank (11 HK) plans to launch a new “Hang Seng yuan bond fund” calculated in RMB today. The bank has lowered the subscription fee from 0.8 per cent to 0.5 per cent as a special offer. (SingTao Daily B2)
It is said that Hutchison Whampoa (13 HK) has appointed Goldman Sachs to arrange for an issue of perpetual dollar notes. The notes reportedly can be bought back in Oct 2015. The notes were assigned an BBB rating by Fitch Ratings and Standard & Poor’s. (Hong Kong Economic Times A14)
K. Wah International (173 HK) chairman Lui Che Woo increased holding of shares by 6.6 million and 6.5 million shares at HK$3.031 and HK$3.022 per share on average last Thur and Fri respectively, involving over HK$39.64 million, taking its shareholding from 59.34 per cent to 59.84 per cent. Shares closed at HK$2.93 yesterday. (Hong Kong Economic Journal P11)
Little Sheep Group (968 HK) clarified that the visit by Koo Benjamin Henry Ho Chung, its non-executive director, and other delegate of Yum! Brands, Inc., its second largest shareholder, to the headquarters in Baotou and operations in Shanghai was aiming to share the experience of both parties in catering business. Little Sheep Group is not aware of any intention or plan of Yum on increase of its shareholding in the company. (SingTao Daily B2)
Controlling shareholder of Shenguan Holdings (829 HK), Rich Top, plans to sell 4.2 per cent equity interest in the company to China Life Insurance (Overseas) Co. Ltd. And other investors at a price of HK$8.6 per share. An aggregated consideration of around HK$600 million was involved. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Chen Hsong Holdings (57 HK) expects to record a significant increase in profit for the six months ended Sep 30, which is primarily due to increase in sales turnover resulting from market recovery and the one-off gain of around HK$94 million on disposal of the shares held in Keyset Development Limited. (SingTao Daily B2)
China Everbright International (257 HK) has successfully developed the biomass for electricity generation project in Linyi Xian, Shangdong and Hanshan County, Anhui. The total investment was around 640 million yuan. (SingTao Daily B2)
China Motor Bus (26 HK) recorded a net profit of HK$493 million for the year ended Jun 30, surging nearly 80 per cent year on year. Earnings per share was HK$10.8. A final dividend of 10 HK cents per share and a special dividend of HK$1.3 apiece were declared. (SingTao Daily B2)
China Mobile (941 HK) saw net profit go up 3.9 per cent yoy to 87.245 billion yuan for the first 3 quarters. EBITDA went up 6 per cent to 177.805 billion yuan. EBITDA Margin was 50.4 per cent, up 0.9 percentage point. Operating revenue amounted to 352.643 billion yuan, up 7.8 per cent. (Hong Kong Economic Times A14)
China Overseas Land & Investment (688 HK) saw operation profit for the third quarter surging 89 per cent year on year to around HK$3.4 billion. The operation profit for the first nine months this year amounted to HK$11.4 billion, up 59 per cent over the same period a year ago.
China Petroleum & Chemical (386 HK) plans to issue 23 billion yuan 6-yr convertible bonds to raise funds for developing infrastructure. It plans to use 11.4 billion yuan for its 800,000 ton-a-year ethylene plant in Wuhan and the rest for pipelines and a processing plant. Shares fell 0.4 per cent to end at HK$7.47. (Hong Kong Economic Times A14)
China State Construction International (3311 HK) posted operating profit of HK$710 million for the first 9 months, up 36.29 per cent yoy. Consolidated revenue reached HK$8.13 billion, up 2 per cent. It secured 32 new contracts with a total attributable contract value of around HK$23.21 billion, up 87.48 per cent yoy. (Hong Kong Economic Journal P11)
Ching Hing (Holdings) (692 HK) proposes a rights issue at HK$0.05 per rights share on the basis of 8 rights shares for every 1 existing share to raise HK$217.89 million to HK$219.94 million for businesses including developing the iron and titanium mine in the PRC, and for reducing liabilities, etc. Shares closed at HK$0.275 yesterday. (Hong Kong Economic Times A14)
GZI Transport (1052 HK) is planning to acquire 90 per cent equity interest in Hubei Han-Xiao Highway Construction and Operations from an independent third party for around 646 million yuan. The target company is mainly engaged in the construction, management, and operation of the Han-Xiao Expressway. It also owns the franchise to operate the Han-Xiao Expressway and the Airport North Extension as well as the advertising billboards and other service facilities, for a term up to Oct 2037. (SingTao Daily B2)
Hang Seng Bank (11 HK) plans to launch a new “Hang Seng yuan bond fund” calculated in RMB today. The bank has lowered the subscription fee from 0.8 per cent to 0.5 per cent as a special offer. (SingTao Daily B2)
It is said that Hutchison Whampoa (13 HK) has appointed Goldman Sachs to arrange for an issue of perpetual dollar notes. The notes reportedly can be bought back in Oct 2015. The notes were assigned an BBB rating by Fitch Ratings and Standard & Poor’s. (Hong Kong Economic Times A14)
K. Wah International (173 HK) chairman Lui Che Woo increased holding of shares by 6.6 million and 6.5 million shares at HK$3.031 and HK$3.022 per share on average last Thur and Fri respectively, involving over HK$39.64 million, taking its shareholding from 59.34 per cent to 59.84 per cent. Shares closed at HK$2.93 yesterday. (Hong Kong Economic Journal P11)
Little Sheep Group (968 HK) clarified that the visit by Koo Benjamin Henry Ho Chung, its non-executive director, and other delegate of Yum! Brands, Inc., its second largest shareholder, to the headquarters in Baotou and operations in Shanghai was aiming to share the experience of both parties in catering business. Little Sheep Group is not aware of any intention or plan of Yum on increase of its shareholding in the company. (SingTao Daily B2)
Controlling shareholder of Shenguan Holdings (829 HK), Rich Top, plans to sell 4.2 per cent equity interest in the company to China Life Insurance (Overseas) Co. Ltd. And other investors at a price of HK$8.6 per share. An aggregated consideration of around HK$600 million was involved. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, October 20, 2010
Hong Kong Stock Market Wrap October 19th, 2010
Starting 14 Oct, BOCHK (2388 HK) has provided RMB banknotes clearing service to 2 designated RMB banknotes business banks appointed by the Taiwan authority, Bank of Taiwan and Mega Bank. The first lot of RMB banknotes was delivered to Taiwan on 19 Oct. (Hong Kong Economic Times A12)
China Railway Erju (SHA:600528), 51 per cent owned by China Railway Group (390 HK), expects net profit attributable to parent for the period ended the end of Sep to go up around 60 per cent to 690 million yuan. The figure in 2009 was 429 million yuan. (Hong Kong Economic Times A12)
China Southern Airlines (1055 HK) expects its net profit for the first 3Qs to go up over 1,400 per cent over the corresponding period last year because of factors such as an increase in the demand for aviation and transportation services and an exchange gain from the appreciation of RMB against dollar. (Hong Kong Economic Times A12)
China Unicom (762 HK) disclosed the operational statistics for Sep that the aggregate number of 3G service subscribers was 10.554 million, hitting record high again. Net additions of 3G service subscribers during the period amounted to 1.043 million. The total number of 2G service subscribers was 151.5 million, with net additions of service subscribers amounting to 801,000, increasing sharply as compared with the 682,000 in Aug. (SingTao Daily B4)
Chuang’s Consortium (367 HK) has recently appointed an international real estate agent to explore the possibility of a sale of a property located at No. 83 Wuhu Street, Hunghom, with an indicative price of around HK$1 billion. Shares of the company rose 7.07 per cent to end at HK$1.06 yesterday. (SingTao Daily B2)
CLP (2 HK) booked total revenue of HK$43.5 billion for the first nine months ended Sep 30, leaping 15.6 per cent. The company distributed a third interim dividend of HK$1.56 per share. Hong Kong electricity business generated a 4.3 per cent growth in revenue to HK$21.944 billion for the first nine-month period, while Australia energy business had a 35.8 per cent increase to HK$19.209 billion. (SingTao Daily B4)
Freeman Corporation (279 HK) expects to record a loss for the six months ended Sep 30 as compared to the profit for the same period in 2009. The estimated loss is mainly due to net unrealized losses on investment at fair value. (SingTao Daily B2)
According to China accounting standards, Huaneng Power (902 HK) posted a net profit of 1.12 billion yuan for the third quarter, tumbling 48 per cent year on year. Earnings per share amounted to 0.26 yuan. No interim dividend was declared. The profit for the first three quarters this year also went down 23 per cent to 3.146 billion yuan. (SingTao Daily B4)
Minmetals Resources Limited (1208 HK) announced yesterday to acquire from its parent China Minmetals Non-Ferrous Metals mining assets MMG for US$1.846 billion. It also plans to seek a specific mandate from independent shareholders to issue 2.7 billion new shares to raise net proceeds of US$1.6 billion. (Hong Kong Economic Times A14)
Multifield International (898 HK) aims to acquire a property situated at Multi-storey Lorry Park, Ground Floor to Lower Ground 1-5 Floor of Southmark, 11 Yip Hing Street, Aberdeen from an independent third party, involving around HK$112 million. The company is expecting to further expand its investment properties portfolio in commercial premises. (SingTao Daily B2)
Sino-I Technology (250 HK) states that it is not aware of any reasons for the volatility of share price except an intended disposal of 4 blocks of building in Beijing. Shares of the company surge 12.77 per cent to close at 5.3 HK cents yesterday. (SingTao Daily B2)
Sunac China (1918 HK) saw net profit jump 63 per cent yoy to 191 million yuan for the 6 months ended June 30. Revenue rose 8.4 per cent to 790 million yuan. No dividend was declared. (Hong Kong Economic Journal P12)
BEA (23 HK) launches non capital protected CNY-denominated linked deposit, with minimum deposit amount at 50,000 yuan, available until 22 Oct. Customers, during a 6-month investment period, may earn a coupon rate linked with the 3-month USD LIBOR, subject to a floor level of 2.5 per cent pa and a cap level of 4 per cent pa. (Hong Kong Economic Journal P10)
Benefiting from the peak season of the beer sales, Tsingtao Brewery (168 HK) booked a nearly 13 per cent rise in net profit to 695 million yuan for the third quarter. Earnings per share was 51.4 fen. Driven by the surge of beer sales, the brewery recorded a net profit of 1.525 billion yuan for the first nine months. (SingTao Daily B4)
Yashili International Holdings (1230 HK) opens its retail book today to raise up to 3.09 billion. A substantial shareholder places 70 million existing shares to raise up to 336 million. It is said its international placing was oversubscribed. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Railway Erju (SHA:600528), 51 per cent owned by China Railway Group (390 HK), expects net profit attributable to parent for the period ended the end of Sep to go up around 60 per cent to 690 million yuan. The figure in 2009 was 429 million yuan. (Hong Kong Economic Times A12)
China Southern Airlines (1055 HK) expects its net profit for the first 3Qs to go up over 1,400 per cent over the corresponding period last year because of factors such as an increase in the demand for aviation and transportation services and an exchange gain from the appreciation of RMB against dollar. (Hong Kong Economic Times A12)
China Unicom (762 HK) disclosed the operational statistics for Sep that the aggregate number of 3G service subscribers was 10.554 million, hitting record high again. Net additions of 3G service subscribers during the period amounted to 1.043 million. The total number of 2G service subscribers was 151.5 million, with net additions of service subscribers amounting to 801,000, increasing sharply as compared with the 682,000 in Aug. (SingTao Daily B4)
Chuang’s Consortium (367 HK) has recently appointed an international real estate agent to explore the possibility of a sale of a property located at No. 83 Wuhu Street, Hunghom, with an indicative price of around HK$1 billion. Shares of the company rose 7.07 per cent to end at HK$1.06 yesterday. (SingTao Daily B2)
CLP (2 HK) booked total revenue of HK$43.5 billion for the first nine months ended Sep 30, leaping 15.6 per cent. The company distributed a third interim dividend of HK$1.56 per share. Hong Kong electricity business generated a 4.3 per cent growth in revenue to HK$21.944 billion for the first nine-month period, while Australia energy business had a 35.8 per cent increase to HK$19.209 billion. (SingTao Daily B4)
Freeman Corporation (279 HK) expects to record a loss for the six months ended Sep 30 as compared to the profit for the same period in 2009. The estimated loss is mainly due to net unrealized losses on investment at fair value. (SingTao Daily B2)
According to China accounting standards, Huaneng Power (902 HK) posted a net profit of 1.12 billion yuan for the third quarter, tumbling 48 per cent year on year. Earnings per share amounted to 0.26 yuan. No interim dividend was declared. The profit for the first three quarters this year also went down 23 per cent to 3.146 billion yuan. (SingTao Daily B4)
Minmetals Resources Limited (1208 HK) announced yesterday to acquire from its parent China Minmetals Non-Ferrous Metals mining assets MMG for US$1.846 billion. It also plans to seek a specific mandate from independent shareholders to issue 2.7 billion new shares to raise net proceeds of US$1.6 billion. (Hong Kong Economic Times A14)
Multifield International (898 HK) aims to acquire a property situated at Multi-storey Lorry Park, Ground Floor to Lower Ground 1-5 Floor of Southmark, 11 Yip Hing Street, Aberdeen from an independent third party, involving around HK$112 million. The company is expecting to further expand its investment properties portfolio in commercial premises. (SingTao Daily B2)
Sino-I Technology (250 HK) states that it is not aware of any reasons for the volatility of share price except an intended disposal of 4 blocks of building in Beijing. Shares of the company surge 12.77 per cent to close at 5.3 HK cents yesterday. (SingTao Daily B2)
Sunac China (1918 HK) saw net profit jump 63 per cent yoy to 191 million yuan for the 6 months ended June 30. Revenue rose 8.4 per cent to 790 million yuan. No dividend was declared. (Hong Kong Economic Journal P12)
BEA (23 HK) launches non capital protected CNY-denominated linked deposit, with minimum deposit amount at 50,000 yuan, available until 22 Oct. Customers, during a 6-month investment period, may earn a coupon rate linked with the 3-month USD LIBOR, subject to a floor level of 2.5 per cent pa and a cap level of 4 per cent pa. (Hong Kong Economic Journal P10)
Benefiting from the peak season of the beer sales, Tsingtao Brewery (168 HK) booked a nearly 13 per cent rise in net profit to 695 million yuan for the third quarter. Earnings per share was 51.4 fen. Driven by the surge of beer sales, the brewery recorded a net profit of 1.525 billion yuan for the first nine months. (SingTao Daily B4)
Yashili International Holdings (1230 HK) opens its retail book today to raise up to 3.09 billion. A substantial shareholder places 70 million existing shares to raise up to 336 million. It is said its international placing was oversubscribed. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 19th, 2010
Elili Int’l, a wholly owned subsidiary of Artini China (789 HK), entered into a letter of intent with Cartorama Retail. According to the LOI, Cartorama is to appoint Elili Int’l as its sole and exclusive distributor to import and distribute certain brand products in the mainland, and to grant it a right to use ‘‘IMAGO’’ as a trade sign regarding the distribution of the products, for a period of ten years. (SingTao Daily B2)
Goldman Sachs maintains Buy rating on Belle International Holdings (1880 HK), with target price at HK$15. It says Q3 same store sales for footwear business grew 18 per cent. (Hong Kong Economic Times A14)
Chaoda Modern Agriculture (682 HK) proposed a final dividend of HK$0.06 per share for the year ended 30 June, up 20 per cent. Production base areas expanded by 15 per cent to 664,000 mu. It operated 31 production bases in 13 provinces and cities in the PRC. Cash and cash equivalents amounted to around 2.044 billion yuan. Shares dropped 3 per cent to close at HK$6.79 yesterday. (Hong Kong Economic Times A14)
China Dongxiang (Group) (3818 HK) announced yesterday that same store sales grew 4.7 per cent in Q3, better than that in Q2. Same store sales recorded a mere 0.4 per cent growth in Q2 due to unnatural weather. (Hong Kong Economic Times A14)
China Merchants (1444 HK) signed MOU with German Eurogate yesterday. Both parties agree to strengthen the strategic partnership and work together to expand local and overseas markets. (SingTao Daily B2)
It is expected that total operating revenue of Sinoma International, subsidiary of China National Materials (1893 HK), and its A shares to increase by 30-50 per cent in the third quarter, with net profit surging 80-90 per cent. The total operation revenue and net profit of Sinoma for the third quarter last year were 11.2 billion yuan and 511 million yuan respectively. (SingTao Daily B2)
Accumulated gross premium income of China Pacific Insurance (Group)’s (2601 HK) subsidiaries China Pacific Life Insurance and China Pacific Property Insurance for the first 9 months totaled around 108 billion yuan, up 30.2 billion yuan or 38.8 per cent over the 77.8 billion yuan in the same period last year. (Hong Kong Economic Journal P9)
China Suntien Green Energy (956 HK) saw interim net profit go up 81.9 per cent yoy to 147 million yuan. Turnover reached 1.022 billion yuan. No dividend was declared. (Hong Kong Economic Journal P9)
Chongqing Iron & Steel (1053 HK) plans to make an investment of 1.4 billion yuan in the construction of the Changshou New District Construction Project in Chongqing. Upon completion of the project, the company is able to produce 1.04 million tons of electric furnace steel and 1 million tons of steel products. (SingTao Daily B2)
GCL-Poly Energy (3800 HK) produced an accumulated polysilicon of around 12,100 tonnes for the first three quarters, increasing by about 183 per cent % year on year. The company sold polysilicon of about 8,800 tonnes and over 3,400 tonnes respectively for the first nine months and in the third quarter at an average price of US$50.6/kg and US$51.7/kg respectively. (SingTao Daily B2)
Glorious Property (845 HK) proposes to issue US$300 million (over HK$2.3 billion) senior notes, carrying a 13 per cent interest rate, according to market sources. On the other hand, Jiangsu Rongsheng Heavy Industries also plans to raise as much as US$1.5 billion (around 11.67 billion) through listing in Hong Kong. (SingTao Daily B2)
Regent Pacific (757 HK) has sold the remaining 12 million shares in Bathurst on ASX for a total consideration of AUD 5 million (around HK$37.5 million). The total net realised gain will represent a 194 per cent return on investment. (SingTao Daily B2)
Soluteck Holdings (8111 HK) plans to place 78.4 million shares, 10.66 per cent of the issued share capital as enlarged, at HK$0.5 per share to raise around HK$38.5 million. It also plans to place convertible bonds in total principal amount of HK$26 million. (Hong Kong Economic Journal P9)
TC Interconnect Holdings (515 HK) was notified by chairman Yeung Hoi Shan that he placed 24 million shares at HK$2.8 per share for HK$67.2 million yesterday, taking his shareholding in the company down from 56.45 per cent to 48.88 per cent. (Hong Kong Economic Times A14)
Yeebo (259 HK) is set to record a significant increase in profit for the six months ended 30 Sep 2010 versus a profit of HK$11.5 million for the same period last year. The significant improvement was primarily attributable to the recognition of a significant gain on the initial public offering of the A shares of Nantong Jianghai Capacitor Company Ltd. on the Shenzhen Stock Exchange. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Goldman Sachs maintains Buy rating on Belle International Holdings (1880 HK), with target price at HK$15. It says Q3 same store sales for footwear business grew 18 per cent. (Hong Kong Economic Times A14)
Chaoda Modern Agriculture (682 HK) proposed a final dividend of HK$0.06 per share for the year ended 30 June, up 20 per cent. Production base areas expanded by 15 per cent to 664,000 mu. It operated 31 production bases in 13 provinces and cities in the PRC. Cash and cash equivalents amounted to around 2.044 billion yuan. Shares dropped 3 per cent to close at HK$6.79 yesterday. (Hong Kong Economic Times A14)
China Dongxiang (Group) (3818 HK) announced yesterday that same store sales grew 4.7 per cent in Q3, better than that in Q2. Same store sales recorded a mere 0.4 per cent growth in Q2 due to unnatural weather. (Hong Kong Economic Times A14)
China Merchants (1444 HK) signed MOU with German Eurogate yesterday. Both parties agree to strengthen the strategic partnership and work together to expand local and overseas markets. (SingTao Daily B2)
It is expected that total operating revenue of Sinoma International, subsidiary of China National Materials (1893 HK), and its A shares to increase by 30-50 per cent in the third quarter, with net profit surging 80-90 per cent. The total operation revenue and net profit of Sinoma for the third quarter last year were 11.2 billion yuan and 511 million yuan respectively. (SingTao Daily B2)
Accumulated gross premium income of China Pacific Insurance (Group)’s (2601 HK) subsidiaries China Pacific Life Insurance and China Pacific Property Insurance for the first 9 months totaled around 108 billion yuan, up 30.2 billion yuan or 38.8 per cent over the 77.8 billion yuan in the same period last year. (Hong Kong Economic Journal P9)
China Suntien Green Energy (956 HK) saw interim net profit go up 81.9 per cent yoy to 147 million yuan. Turnover reached 1.022 billion yuan. No dividend was declared. (Hong Kong Economic Journal P9)
Chongqing Iron & Steel (1053 HK) plans to make an investment of 1.4 billion yuan in the construction of the Changshou New District Construction Project in Chongqing. Upon completion of the project, the company is able to produce 1.04 million tons of electric furnace steel and 1 million tons of steel products. (SingTao Daily B2)
GCL-Poly Energy (3800 HK) produced an accumulated polysilicon of around 12,100 tonnes for the first three quarters, increasing by about 183 per cent % year on year. The company sold polysilicon of about 8,800 tonnes and over 3,400 tonnes respectively for the first nine months and in the third quarter at an average price of US$50.6/kg and US$51.7/kg respectively. (SingTao Daily B2)
Glorious Property (845 HK) proposes to issue US$300 million (over HK$2.3 billion) senior notes, carrying a 13 per cent interest rate, according to market sources. On the other hand, Jiangsu Rongsheng Heavy Industries also plans to raise as much as US$1.5 billion (around 11.67 billion) through listing in Hong Kong. (SingTao Daily B2)
Regent Pacific (757 HK) has sold the remaining 12 million shares in Bathurst on ASX for a total consideration of AUD 5 million (around HK$37.5 million). The total net realised gain will represent a 194 per cent return on investment. (SingTao Daily B2)
Soluteck Holdings (8111 HK) plans to place 78.4 million shares, 10.66 per cent of the issued share capital as enlarged, at HK$0.5 per share to raise around HK$38.5 million. It also plans to place convertible bonds in total principal amount of HK$26 million. (Hong Kong Economic Journal P9)
TC Interconnect Holdings (515 HK) was notified by chairman Yeung Hoi Shan that he placed 24 million shares at HK$2.8 per share for HK$67.2 million yesterday, taking his shareholding in the company down from 56.45 per cent to 48.88 per cent. (Hong Kong Economic Times A14)
Yeebo (259 HK) is set to record a significant increase in profit for the six months ended 30 Sep 2010 versus a profit of HK$11.5 million for the same period last year. The significant improvement was primarily attributable to the recognition of a significant gain on the initial public offering of the A shares of Nantong Jianghai Capacitor Company Ltd. on the Shenzhen Stock Exchange. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 18th, 2010
Elili Int’l, a wholly owned subsidiary of Artini China (789 HK), entered into a letter of intent with Cartorama Retail. According to the LOI, Cartorama is to appoint Elili Int’l as its sole and exclusive distributor to import and distribute certain brand products in the mainland, and to grant it a right to use ‘‘IMAGO’’ as a trade sign regarding the distribution of the products, for a period of ten years. (SingTao Daily B2)
Goldman Sachs maintains Buy rating on Belle International Holdings (1880 HK), with target price at HK$15. It says Q3 same store sales for footwear business grew 18 per cent. (Hong Kong Economic Times A14)
Chaoda Modern Agriculture (682 HK) proposed a final dividend of HK$0.06 per share for the year ended 30 June, up 20 per cent. Production base areas expanded by 15 per cent to 664,000 mu. It operated 31 production bases in 13 provinces and cities in the PRC. Cash and cash equivalents amounted to around 2.044 billion yuan. Shares dropped 3 per cent to close at HK$6.79 yesterday. (Hong Kong Economic Times A14)
China Dongxiang (Group) (3818 HK) announced yesterday that same store sales grew 4.7 per cent in Q3, better than that in Q2. Same store sales recorded a mere 0.4 per cent growth in Q2 due to unnatural weather. (Hong Kong Economic Times A14)
China Merchants (144 HK) signed MOU with German Eurogate yesterday. Both parties agree to strengthen the strategic partnership and work together to expand local and overseas markets. (SingTao Daily B2)
It is expected that total operating revenue of Sinoma International, subsidiary of China National Materials (1893 HK), and its A shares to increase by 30-50 per cent in the third quarter, with net profit surging 80-90 per cent. The total operation revenue and net profit of Sinoma for the third quarter last year were 11.2 billion yuan and 511 million yuan respectively. (SingTao Daily B2)
Accumulated gross premium income of China Pacific Insurance (Group)’s (2601 HK) subsidiaries China Pacific Life Insurance and China Pacific Property Insurance for the first 9 months totaled around 108 billion yuan, up 30.2 billion yuan or 38.8 per cent over the 77.8 billion yuan in the same period last year. (Hong Kong Economic Journal P9)
China Suntien Green Energy (956 HK) saw interim net profit go up 81.9 per cent yoy to 147 million yuan. Turnover reached 1.022 billion yuan. No dividend was declared. (Hong Kong Economic Journal P9)
Chongqing Iron & Steel (1053 HK) plans to make an investment of 1.4 billion yuan in the construction of the Changshou New District Construction Project in Chongqing. Upon completion of the project, the company is able to produce 1.04 million tons of electric furnace steel and 1 million tons of steel products.
(SingTao Daily B2)
GCL-Poly Energy (3800 HK) produced an accumulated polysilicon of around 12,100 tonnes for the first three quarters, increasing by about 183 per cent % year on year. The company sold polysilicon of about 8,800 tonnes and over 3,400 tonnes respectively for the first nine months and in the third quarter at an average price of US$50.6/kg and US$51.7/kg respectively. (SingTao Daily B2)
Glorious Property (845 HK) proposes to issue US$300 million (over HK$2.3 billion) senior notes, carrying a 13 per cent interest rate, according to market sources. On the other hand, Jiangsu Rongsheng Heavy Industries also plans to raise as much as US$1.5 billion (around 11.67 billion) through listing in Hong Kong. (SingTao Daily B2)
Regent Pacific (575 HK) has sold the remaining 12 million shares in Bathurst on ASX for a total consideration of AUD 5 million (around HK$37.5 million). The total net realised gain will represent a 194 per cent return on investment. (SingTao Daily B2)
Soluteck Holdings (8111 HK) plans to place 78.4 million shares, 10.66 per cent of the issued share capital as enlarged, at HK$0.5 per share to raise around HK$38.5 million. It also plans to place convertible bonds in total principal amount of HK$26 million. (Hong Kong Economic Journal P9)
TC Interconnect Holdings (515 HK) was notified by chairman Yeung Hoi Shan that he placed 24 million shares at HK$2.8 per share for HK$67.2 million yesterday, taking his shareholding in the company down from 56.45 per cent to 48.88 per cent. (Hong Kong Economic Times A14)
Yeebo (259 HK) is set to record a significant increase in profit for the six months ended 30 Sep 2010 versus a profit of HK$11.5 million for the same period last year. The significant improvement was primarily attributable to the recognition of a significant gain on the initial public offering of the A shares of Nantong Jianghai Capacitor Company Ltd. on the Shenzhen Stock Exchange. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Goldman Sachs maintains Buy rating on Belle International Holdings (1880 HK), with target price at HK$15. It says Q3 same store sales for footwear business grew 18 per cent. (Hong Kong Economic Times A14)
Chaoda Modern Agriculture (682 HK) proposed a final dividend of HK$0.06 per share for the year ended 30 June, up 20 per cent. Production base areas expanded by 15 per cent to 664,000 mu. It operated 31 production bases in 13 provinces and cities in the PRC. Cash and cash equivalents amounted to around 2.044 billion yuan. Shares dropped 3 per cent to close at HK$6.79 yesterday. (Hong Kong Economic Times A14)
China Dongxiang (Group) (3818 HK) announced yesterday that same store sales grew 4.7 per cent in Q3, better than that in Q2. Same store sales recorded a mere 0.4 per cent growth in Q2 due to unnatural weather. (Hong Kong Economic Times A14)
China Merchants (144 HK) signed MOU with German Eurogate yesterday. Both parties agree to strengthen the strategic partnership and work together to expand local and overseas markets. (SingTao Daily B2)
It is expected that total operating revenue of Sinoma International, subsidiary of China National Materials (1893 HK), and its A shares to increase by 30-50 per cent in the third quarter, with net profit surging 80-90 per cent. The total operation revenue and net profit of Sinoma for the third quarter last year were 11.2 billion yuan and 511 million yuan respectively. (SingTao Daily B2)
Accumulated gross premium income of China Pacific Insurance (Group)’s (2601 HK) subsidiaries China Pacific Life Insurance and China Pacific Property Insurance for the first 9 months totaled around 108 billion yuan, up 30.2 billion yuan or 38.8 per cent over the 77.8 billion yuan in the same period last year. (Hong Kong Economic Journal P9)
China Suntien Green Energy (956 HK) saw interim net profit go up 81.9 per cent yoy to 147 million yuan. Turnover reached 1.022 billion yuan. No dividend was declared. (Hong Kong Economic Journal P9)
Chongqing Iron & Steel (1053 HK) plans to make an investment of 1.4 billion yuan in the construction of the Changshou New District Construction Project in Chongqing. Upon completion of the project, the company is able to produce 1.04 million tons of electric furnace steel and 1 million tons of steel products.
(SingTao Daily B2)
GCL-Poly Energy (3800 HK) produced an accumulated polysilicon of around 12,100 tonnes for the first three quarters, increasing by about 183 per cent % year on year. The company sold polysilicon of about 8,800 tonnes and over 3,400 tonnes respectively for the first nine months and in the third quarter at an average price of US$50.6/kg and US$51.7/kg respectively. (SingTao Daily B2)
Glorious Property (845 HK) proposes to issue US$300 million (over HK$2.3 billion) senior notes, carrying a 13 per cent interest rate, according to market sources. On the other hand, Jiangsu Rongsheng Heavy Industries also plans to raise as much as US$1.5 billion (around 11.67 billion) through listing in Hong Kong. (SingTao Daily B2)
Regent Pacific (575 HK) has sold the remaining 12 million shares in Bathurst on ASX for a total consideration of AUD 5 million (around HK$37.5 million). The total net realised gain will represent a 194 per cent return on investment. (SingTao Daily B2)
Soluteck Holdings (8111 HK) plans to place 78.4 million shares, 10.66 per cent of the issued share capital as enlarged, at HK$0.5 per share to raise around HK$38.5 million. It also plans to place convertible bonds in total principal amount of HK$26 million. (Hong Kong Economic Journal P9)
TC Interconnect Holdings (515 HK) was notified by chairman Yeung Hoi Shan that he placed 24 million shares at HK$2.8 per share for HK$67.2 million yesterday, taking his shareholding in the company down from 56.45 per cent to 48.88 per cent. (Hong Kong Economic Times A14)
Yeebo (259 HK) is set to record a significant increase in profit for the six months ended 30 Sep 2010 versus a profit of HK$11.5 million for the same period last year. The significant improvement was primarily attributable to the recognition of a significant gain on the initial public offering of the A shares of Nantong Jianghai Capacitor Company Ltd. on the Shenzhen Stock Exchange. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 15th, 2010
China Mobile’s (941 HK)wholly-owned subsidiary China Mobile Group Guangdong subscribing 20 per cent interest in Shanghai Pudong Development Bank at 13.75 yuan per share has been completed. Guangdong Mobile has become the second largest shareholder of the bank. Total consideration was 39.5 billion yuan. (SingTao Daily B14)
Goldin Properties (283 HK) proposes to carry out an open offer on the basis of 2 units of convertible bonds with face value of HK$6 each for every 3 existing shares, involving an issue of not less than HK$4.894 billion and up to about HK$5.077 billion in value of convertible bonds, bearing an interest of 8 per cent pa. (Hong Kong Economic Journal P12)
TPG Star has agreed to subscribe for 300 million new preference shares in Hong Kong Energy (Holdings) (987 HK) at HK$0.65 each, a total consideration of HK$195 million. The former may require the latter to issue up to 260 million additional preference shares at HK$0.75 apiece. (SingTao Daily B14)
Li & Fung (494 HK) substantial shareholders Fung Kwok Lun William and Fung Kwok King Victor have acquired 1.03 per cent equity interest in Sanrio of Japan, owner of the Hello Kitty brand. Li & Fung spokesperson says the brothers acquired the shares via Fung Investment Pte. Ltd.
Sino-Tech International (724 HK) announces conversion of convertible notes in a total principal amount of HK$120 million into1 billion new shares, 12.2 per cent of the issued share capital as enlarged. Total number of shares issued by Sino-Tech International will be increased from 7.183 billion to 8.183 billion. (Hong Kong Economic Journal P6)
Tian An China Investments (28 HK) will acquire 11 units of Xijiao Elegant Garden Phase III, No. 189 Longxi Road, Changning District, Shanghai at consideration of 458 million yuan. Construction area is 4,583 sqm. Price is 100,000 yuan per sqm. (Hong Kong Economic Journal P12)
Unity Investments Holdings (913 HK) has resolved to grant share options to eligible grantees to subscribe for up to 85.39 million new shares of HK$0.10 apiece. Shares closed at HK$0.089 yesterday. (SingTao Daily B14)
IPO: Global Dairy opens its retail book from Oct 15 to Oct 20, seeking to offer 36.088 shares in Hong Kong. The maximum offer price is HK$5.2 per share, with board lot size of 1,000 shares each. Macquarie is the sole global coordinator and sponsor. (Hong Kong Economic Times A9)
AIA (1299 HK) starts its IPO today, aiming to raise HK$107.7-115.3 billion by selling around 5.86 billion old shares, with 90 per cent for international placing and 10 per cent for public offering. The offer price is at HK$18.38-19.68 per share. Entry cost is HK$3,975.68 per board lot of 200 shares. AIA is to list on Oct 29. (Hong Kong Economic Journal P4)
Bank of Communications (3328 HK) has launched OTO FORTUNE private banking services in the Hong Kong district. The lender is the first commercial bank introducing on-shore private banking services in Hong Kong. OTO Fortune will provide a global wealth management platform for clients. (SingTao Daily B17)
G-Resources (1051 HK) Group booked a loss of HK$351 million for the year ended Jun 30, plunging 114 per cent. Loss per share amounted to 2.5 HK cents. No dividend was declared. (SingTao Daily B17)
HSBC (5 HK) was sued by five Taiwanese banks including Hua Nan Financial in the US court, which claim HSBC aided the fraud by deceased financier Danny Pang’s PEM Group that caused them more than HK$4.1 billion in damages, foreign media reports. The five banks claim HK$5.3 billion in losses. (SingTao Daily B17)
Loudong General Nice Resources (988 HK) has entered into a supplemental agreement in respect of the acquisition of Shanxi Linxian Taiye Coal Mining. Under the agreement, the vendor Xin Jiang-bin undertakes to procure the dividends and distributions declared and paid by the target company of not less than 120 million yuan to the subsidiary of Loudong by the year ending 31 Dec 2011. (SingTao Daily B17)
Trony Solar Holdings (2468 HK) announces cooperating with Tokyo Institute of Technology in the development of solar battery and new generation solar power techniques. Both parties will jointly develop a new solar battery with high-energy conversion efficiency and thin film silicon in a three-year period. (SingTao Daily B17)
Zijin Mining Group (2899 HK) announces that two of its subsidiaries were ordered to compensate for economic loss in the amount of 19.5 million yuan over the collapse of the dam at the Yinyan Tin Mine Kaoqiling tailing pool located at Qianpai town, Xinyi City. (SingTao Daily B17)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Goldin Properties (283 HK) proposes to carry out an open offer on the basis of 2 units of convertible bonds with face value of HK$6 each for every 3 existing shares, involving an issue of not less than HK$4.894 billion and up to about HK$5.077 billion in value of convertible bonds, bearing an interest of 8 per cent pa. (Hong Kong Economic Journal P12)
TPG Star has agreed to subscribe for 300 million new preference shares in Hong Kong Energy (Holdings) (987 HK) at HK$0.65 each, a total consideration of HK$195 million. The former may require the latter to issue up to 260 million additional preference shares at HK$0.75 apiece. (SingTao Daily B14)
Li & Fung (494 HK) substantial shareholders Fung Kwok Lun William and Fung Kwok King Victor have acquired 1.03 per cent equity interest in Sanrio of Japan, owner of the Hello Kitty brand. Li & Fung spokesperson says the brothers acquired the shares via Fung Investment Pte. Ltd.
Sino-Tech International (724 HK) announces conversion of convertible notes in a total principal amount of HK$120 million into1 billion new shares, 12.2 per cent of the issued share capital as enlarged. Total number of shares issued by Sino-Tech International will be increased from 7.183 billion to 8.183 billion. (Hong Kong Economic Journal P6)
Tian An China Investments (28 HK) will acquire 11 units of Xijiao Elegant Garden Phase III, No. 189 Longxi Road, Changning District, Shanghai at consideration of 458 million yuan. Construction area is 4,583 sqm. Price is 100,000 yuan per sqm. (Hong Kong Economic Journal P12)
Unity Investments Holdings (913 HK) has resolved to grant share options to eligible grantees to subscribe for up to 85.39 million new shares of HK$0.10 apiece. Shares closed at HK$0.089 yesterday. (SingTao Daily B14)
IPO: Global Dairy opens its retail book from Oct 15 to Oct 20, seeking to offer 36.088 shares in Hong Kong. The maximum offer price is HK$5.2 per share, with board lot size of 1,000 shares each. Macquarie is the sole global coordinator and sponsor. (Hong Kong Economic Times A9)
AIA (1299 HK) starts its IPO today, aiming to raise HK$107.7-115.3 billion by selling around 5.86 billion old shares, with 90 per cent for international placing and 10 per cent for public offering. The offer price is at HK$18.38-19.68 per share. Entry cost is HK$3,975.68 per board lot of 200 shares. AIA is to list on Oct 29. (Hong Kong Economic Journal P4)
Bank of Communications (3328 HK) has launched OTO FORTUNE private banking services in the Hong Kong district. The lender is the first commercial bank introducing on-shore private banking services in Hong Kong. OTO Fortune will provide a global wealth management platform for clients. (SingTao Daily B17)
G-Resources (1051 HK) Group booked a loss of HK$351 million for the year ended Jun 30, plunging 114 per cent. Loss per share amounted to 2.5 HK cents. No dividend was declared. (SingTao Daily B17)
HSBC (5 HK) was sued by five Taiwanese banks including Hua Nan Financial in the US court, which claim HSBC aided the fraud by deceased financier Danny Pang’s PEM Group that caused them more than HK$4.1 billion in damages, foreign media reports. The five banks claim HK$5.3 billion in losses. (SingTao Daily B17)
Loudong General Nice Resources (988 HK) has entered into a supplemental agreement in respect of the acquisition of Shanxi Linxian Taiye Coal Mining. Under the agreement, the vendor Xin Jiang-bin undertakes to procure the dividends and distributions declared and paid by the target company of not less than 120 million yuan to the subsidiary of Loudong by the year ending 31 Dec 2011. (SingTao Daily B17)
Trony Solar Holdings (2468 HK) announces cooperating with Tokyo Institute of Technology in the development of solar battery and new generation solar power techniques. Both parties will jointly develop a new solar battery with high-energy conversion efficiency and thin film silicon in a three-year period. (SingTao Daily B17)
Zijin Mining Group (2899 HK) announces that two of its subsidiaries were ordered to compensate for economic loss in the amount of 19.5 million yuan over the collapse of the dam at the Yinyan Tin Mine Kaoqiling tailing pool located at Qianpai town, Xinyi City. (SingTao Daily B17)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 14th, 2010
Agile Property (3383 HK) achieved contracted sales of 3.1 billion yuan in Sep, with total area of 240,000 square meters sold at an average of 12,917 yuan per square meter. As of Oct 7, the contracted sales totaled 20.2 billion yuan since beginning of the year, surging 59 per cent, having achieved 82 per cent of the full-year sales target. (SingTao Daily B2)
Asia Cassava Resources (841 HK) has entered into agreements in relation to an aggregate of 40 million shares issued at a price of HK$2.3 apiece, which represents about 10 per cent of the issued share capital of the company as enlarged. The net proceeds will be used as the general working capital. (SingTao Daily B2)
Capital Estate (193 HK) intends to issue a principal amount of HK$135 million convertible notes due 2013, bearing 4 per cent interest rate. The conversion price of HK$0.36 apiece represents a premium of around 5.9 per cent to the closing price yesterday. The net proceeds will be around HK$130 million. (SingTao Daily B2)
Cathay Pacific Airways (293 HK) and Dragonair carried a total of nearly 2.18 million passengers in Sep, up 18.4 per cent, with passenger load factors climbing 1.6 percentage points to 81.8 per cent. Cargo handling last month was up 12.9 per cent. Passenger loads in the first nine months rose 10.9 per cent to 20 million in total. (SingTao Daily B3)
Central China Real Estate (832 HK) announces an issue of US$300 million 12.25 per cent senior notes due 2015 to raise net proceeds of US$290.5 million. Around US$250 million of which is to fund new property projects, including land premium, and around US$35 million of which, to repay existing indebtedness. (Hong Kong Economic Journal P16)
China Rare Earth (769 HK) plans to place 100 million shares at HK$3.95 each, around 10.02 per cent discount to the closing price of HK$4.39 before suspension of trading in shares. Trading in shares resumes today. (Hong Kong Economic Journal P10)
Dalian Port (PDA) (2880 HK) proposes to issue not more than 1.2 billion public A shares to public A share investors and issue not more than 1.2 billion consideration shares to its parent PDA. Issue price will not be less than 90 per cent of the average trading price of its H shares during 20 trading days immediately prior to the publication of A shares prospectus. (Hong Kong Economic Times A10)
Kaisa Group (1638 HK) has successfully bid for a site located at Beijiao County, Shunde, Guangdong, at a consideration of 230 million yuan. The total site area is around 33,000 square meters. (SingTao Daily B2)
Mastermind Capital (905 HK) has signed subscription agreements with Allysino Holdings, Mega Start, and Tang Hao in respect of the subscription of 100 million shares, 100 million shares, and 155.2 million shares respectively, at a price of HK$0.125 per share. The net proceeds will be around HK$44.37 million. (SingTao Daily B2)
Accumulated written premiums of Ping An Insurance (Group)’s (2318 HK) subsidiaries, Ping An Life Insurance, Ping An Property & Casualty Insurance, Ping An Health Insurance and Ping An Annuity Insurance, were 124.05 billion yuan, 45.46 billion yuan, 139 million yuan and 3.95 billion yuan respectively for the first 9 months. (Hong Kong Economic Times A10)
Sino-Ocean Land (3377 HK) and Kee Shing (0174) announce a completion of group reorganization. According to the agreement, the consideration for the sale shares has been adjusted to around HK$510 million, equivalent to the offer price of HK$1.658 for each Kee Shing share. (Hong Kong Economic Journal P16)
SOHO (410 HK) China plans to acquire over 48 per cent equity interest in a project at a consideration of over 1.21 billion yuan. The project is for commercial and office use and is located at land lot No. 43, Lu Wan District, Shanghai. The developer also plans to acquire the remaining equity interest in the project early next year at the same consideration. (SingTao Daily B3)
Solartech International (1166 HK) shares rose 87.5 per cent to HK$0.075 yesterday. Trading volume amounted to HK$1.032 billion, almost 76 per cent of its market capitalization. It announced a placing of up to 7.2 billion new shares at HK$0.02 per share in Sep, 73.33 per cent discount to yesterday’s closing price. SGM will be held next Monday, 18 Oct. (Hong Kong Economic Times A10)
Stella International (1836 HK) booked US$426.3 million and US$970.8 million for the 3-month and 9-month periods ended Sep 30 respectively, up 41.5 per cent and 27.7 per cent respectively over the same periods a year ago. (SingTao Daily B2)
Value Partners Group (806 HK) announces a placing of 140 million shares, 8 per cent of the issued share capital as enlarged, at HK$5.68-5.93 per share, 5-9 per cent discount to yesterday’s closing price of HK$6.24, via JP Morgan. (Hong Kong Economic Times A8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 14th, 2010
Agile Property (3383 HK) achieved contracted sales of 3.1 billion yuan in Sep, with total area of 240,000 square meters sold at an average of 12,917 yuan per square meter. As of Oct 7, the contracted sales totaled 20.2 billion yuan since beginning of the year, surging 59 per cent, having achieved 82 per cent of the full-year sales target. (SingTao Daily B2)
Asia Cassava Resources (841 HK) has entered into agreements in relation to an aggregate of 40 million shares issued at a price of HK$2.3 apiece, which represents about 10 per cent of the issued share capital of the company as enlarged. The net proceeds will be used as the general working capital. (SingTao Daily B2)
Capital Estate (193 HK) intends to issue a principal amount of HK$135 million convertible notes due 2013, bearing 4 per cent interest rate. The conversion price of HK$0.36 apiece represents a premium of around 5.9 per cent to the closing price yesterday. The net proceeds will be around HK$130 million. (SingTao Daily B2)
Cathay Pacific Airways (293 HK) and Dragonair carried a total of nearly 2.18 million passengers in Sep, up 18.4 per cent, with passenger load factors climbing 1.6 percentage points to 81.8 per cent. Cargo handling last month was up 12.9 per cent. Passenger loads in the first nine months rose 10.9 per cent to 20 million in total. (SingTao Daily B3)
Central China Real Estate (832 HK) announces an issue of US$300 million 12.25 per cent senior notes due 2015 to raise net proceeds of US$290.5 million. Around US$250 million of which is to fund new property projects, including land premium, and around US$35 million of which, to repay existing indebtedness. (Hong Kong Economic Journal P16)
China Rare Earth (769 HK) plans to place 100 million shares at HK$3.95 each, around 10.02 per cent discount to the closing price of HK$4.39 before suspension of trading in shares. Trading in shares resumes today. (Hong Kong Economic Journal P10)
Dalian Port (PDA) (2880 HK) proposes to issue not more than 1.2 billion public A shares to public A share investors and issue not more than 1.2 billion consideration shares to its parent PDA. Issue price will not be less than 90 per cent of the average trading price of its H shares during 20 trading days immediately prior to the publication of A shares prospectus. (Hong Kong Economic Times A10)
Kaisa Group (1638 HK) has successfully bid for a site located at Beijiao County, Shunde, Guangdong, at a consideration of 230 million yuan. The total site area is around 33,000 square meters. (SingTao Daily B2)
Mastermind Capital (905 HK) has signed subscription agreements with Allysino Holdings, Mega Start, and Tang Hao in respect of the subscription of 100 million shares, 100 million shares, and 155.2 million shares respectively, at a price of HK$0.125 per share. The net proceeds will be around HK$44.37 million. (SingTao Daily B2)
Accumulated written premiums of Ping An Insurance (Group)’s (2318 HK) subsidiaries, Ping An Life Insurance, Ping An Property & Casualty Insurance, Ping An Health Insurance and Ping An Annuity Insurance, were 124.05 billion yuan, 45.46 billion yuan, 139 million yuan and 3.95 billion yuan respectively for the first 9 months. (Hong Kong Economic Times A10)
Sino-Ocean Land (3377 HK) and Kee Shing (0174) announce a completion of group reorganization. According to the agreement, the consideration for the sale shares has been adjusted to around HK$510 million, equivalent to the offer price of HK$1.658 for each Kee Shing share. (Hong Kong Economic Journal P16)
SOHO (410 HK) China plans to acquire over 48 per cent equity interest in a project at a consideration of over 1.21 billion yuan. The project is for commercial and office use and is located at land lot No. 43, Lu Wan District, Shanghai. The developer also plans to acquire the remaining equity interest in the project early next year at the same consideration. (SingTao Daily B3)
Solartech International (1166 HK) shares rose 87.5 per cent to HK$0.075 yesterday. Trading volume amounted to HK$1.032 billion, almost 76 per cent of its market capitalization. It announced a placing of up to 7.2 billion new shares at HK$0.02 per share in Sep, 73.33 per cent discount to yesterday’s closing price. SGM will be held next Monday, 18 Oct. (Hong Kong Economic Times A10)
Stella International (1836 HK) booked US$426.3 million and US$970.8 million for the 3-month and 9-month periods ended Sep 30 respectively, up 41.5 per cent and 27.7 per cent respectively over the same periods a year ago. (SingTao Daily B2)
Value Partners Group (806 HK) announces a placing of 140 million shares, 8 per cent of the issued share capital as enlarged, at HK$5.68-5.93 per share, 5-9 per cent discount to yesterday’s closing price of HK$6.24, via JP Morgan. (Hong Kong Economic Times A8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Asia Cassava Resources (841 HK) has entered into agreements in relation to an aggregate of 40 million shares issued at a price of HK$2.3 apiece, which represents about 10 per cent of the issued share capital of the company as enlarged. The net proceeds will be used as the general working capital. (SingTao Daily B2)
Capital Estate (193 HK) intends to issue a principal amount of HK$135 million convertible notes due 2013, bearing 4 per cent interest rate. The conversion price of HK$0.36 apiece represents a premium of around 5.9 per cent to the closing price yesterday. The net proceeds will be around HK$130 million. (SingTao Daily B2)
Cathay Pacific Airways (293 HK) and Dragonair carried a total of nearly 2.18 million passengers in Sep, up 18.4 per cent, with passenger load factors climbing 1.6 percentage points to 81.8 per cent. Cargo handling last month was up 12.9 per cent. Passenger loads in the first nine months rose 10.9 per cent to 20 million in total. (SingTao Daily B3)
Central China Real Estate (832 HK) announces an issue of US$300 million 12.25 per cent senior notes due 2015 to raise net proceeds of US$290.5 million. Around US$250 million of which is to fund new property projects, including land premium, and around US$35 million of which, to repay existing indebtedness. (Hong Kong Economic Journal P16)
China Rare Earth (769 HK) plans to place 100 million shares at HK$3.95 each, around 10.02 per cent discount to the closing price of HK$4.39 before suspension of trading in shares. Trading in shares resumes today. (Hong Kong Economic Journal P10)
Dalian Port (PDA) (2880 HK) proposes to issue not more than 1.2 billion public A shares to public A share investors and issue not more than 1.2 billion consideration shares to its parent PDA. Issue price will not be less than 90 per cent of the average trading price of its H shares during 20 trading days immediately prior to the publication of A shares prospectus. (Hong Kong Economic Times A10)
Kaisa Group (1638 HK) has successfully bid for a site located at Beijiao County, Shunde, Guangdong, at a consideration of 230 million yuan. The total site area is around 33,000 square meters. (SingTao Daily B2)
Mastermind Capital (905 HK) has signed subscription agreements with Allysino Holdings, Mega Start, and Tang Hao in respect of the subscription of 100 million shares, 100 million shares, and 155.2 million shares respectively, at a price of HK$0.125 per share. The net proceeds will be around HK$44.37 million. (SingTao Daily B2)
Accumulated written premiums of Ping An Insurance (Group)’s (2318 HK) subsidiaries, Ping An Life Insurance, Ping An Property & Casualty Insurance, Ping An Health Insurance and Ping An Annuity Insurance, were 124.05 billion yuan, 45.46 billion yuan, 139 million yuan and 3.95 billion yuan respectively for the first 9 months. (Hong Kong Economic Times A10)
Sino-Ocean Land (3377 HK) and Kee Shing (0174) announce a completion of group reorganization. According to the agreement, the consideration for the sale shares has been adjusted to around HK$510 million, equivalent to the offer price of HK$1.658 for each Kee Shing share. (Hong Kong Economic Journal P16)
SOHO (410 HK) China plans to acquire over 48 per cent equity interest in a project at a consideration of over 1.21 billion yuan. The project is for commercial and office use and is located at land lot No. 43, Lu Wan District, Shanghai. The developer also plans to acquire the remaining equity interest in the project early next year at the same consideration. (SingTao Daily B3)
Solartech International (1166 HK) shares rose 87.5 per cent to HK$0.075 yesterday. Trading volume amounted to HK$1.032 billion, almost 76 per cent of its market capitalization. It announced a placing of up to 7.2 billion new shares at HK$0.02 per share in Sep, 73.33 per cent discount to yesterday’s closing price. SGM will be held next Monday, 18 Oct. (Hong Kong Economic Times A10)
Stella International (1836 HK) booked US$426.3 million and US$970.8 million for the 3-month and 9-month periods ended Sep 30 respectively, up 41.5 per cent and 27.7 per cent respectively over the same periods a year ago. (SingTao Daily B2)
Value Partners Group (806 HK) announces a placing of 140 million shares, 8 per cent of the issued share capital as enlarged, at HK$5.68-5.93 per share, 5-9 per cent discount to yesterday’s closing price of HK$6.24, via JP Morgan. (Hong Kong Economic Times A8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap October 14th, 2010
Agile Property (3383 HK) achieved contracted sales of 3.1 billion yuan in Sep, with total area of 240,000 square meters sold at an average of 12,917 yuan per square meter. As of Oct 7, the contracted sales totaled 20.2 billion yuan since beginning of the year, surging 59 per cent, having achieved 82 per cent of the full-year sales target. (SingTao Daily B2)
Asia Cassava Resources (841 HK) has entered into agreements in relation to an aggregate of 40 million shares issued at a price of HK$2.3 apiece, which represents about 10 per cent of the issued share capital of the company as enlarged. The net proceeds will be used as the general working capital. (SingTao Daily B2)
Capital Estate (193 HK) intends to issue a principal amount of HK$135 million convertible notes due 2013, bearing 4 per cent interest rate. The conversion price of HK$0.36 apiece represents a premium of around 5.9 per cent to the closing price yesterday. The net proceeds will be around HK$130 million. (SingTao Daily B2)
Cathay Pacific Airways (293 HK) and Dragonair carried a total of nearly 2.18 million passengers in Sep, up 18.4 per cent, with passenger load factors climbing 1.6 percentage points to 81.8 per cent. Cargo handling last month was up 12.9 per cent. Passenger loads in the first nine months rose 10.9 per cent to 20 million in total. (SingTao Daily B3)
Central China Real Estate (832 HK) announces an issue of US$300 million 12.25 per cent senior notes due 2015 to raise net proceeds of US$290.5 million. Around US$250 million of which is to fund new property projects, including land premium, and around US$35 million of which, to repay existing indebtedness. (Hong Kong Economic Journal P16)
China Rare Earth (769 HK) plans to place 100 million shares at HK$3.95 each, around 10.02 per cent discount to the closing price of HK$4.39 before suspension of trading in shares. Trading in shares resumes today. (Hong Kong Economic Journal P10)
Dalian Port (PDA) (2880 HK) proposes to issue not more than 1.2 billion public A shares to public A share investors and issue not more than 1.2 billion consideration shares to its parent PDA. Issue price will not be less than 90 per cent of the average trading price of its H shares during 20 trading days immediately prior to the publication of A shares prospectus. (Hong Kong Economic Times A10)
Kaisa Group (1638 HK) has successfully bid for a site located at Beijiao County, Shunde, Guangdong, at a consideration of 230 million yuan. The total site area is around 33,000 square meters. (SingTao Daily B2)
Mastermind Capital (905 HK) has signed subscription agreements with Allysino Holdings, Mega Start, and Tang Hao in respect of the subscription of 100 million shares, 100 million shares, and 155.2 million shares respectively, at a price of HK$0.125 per share. The net proceeds will be around HK$44.37 million. (SingTao Daily B2)
Accumulated written premiums of Ping An Insurance (Group)’s (2318 HK) subsidiaries, Ping An Life Insurance, Ping An Property & Casualty Insurance, Ping An Health Insurance and Ping An Annuity Insurance, were 124.05 billion yuan, 45.46 billion yuan, 139 million yuan and 3.95 billion yuan respectively for the first 9 months. (Hong Kong Economic Times A10)
Sino-Ocean Land (3377 HK) and Kee Shing (0174) announce a completion of group reorganization. According to the agreement, the consideration for the sale shares has been adjusted to around HK$510 million, equivalent to the offer price of HK$1.658 for each Kee Shing share. (Hong Kong Economic Journal P16)
SOHO (410 HK) China plans to acquire over 48 per cent equity interest in a project at a consideration of over 1.21 billion yuan. The project is for commercial and office use and is located at land lot No. 43, Lu Wan District, Shanghai. The developer also plans to acquire the remaining equity interest in the project early next year at the same consideration. (SingTao Daily B3)
Solartech International (1166 HK) shares rose 87.5 per cent to HK$0.075 yesterday. Trading volume amounted to HK$1.032 billion, almost 76 per cent of its market capitalization. It announced a placing of up to 7.2 billion new shares at HK$0.02 per share in Sep, 73.33 per cent discount to yesterday’s closing price. SGM will be held next Monday, 18 Oct. (Hong Kong Economic Times A10)
Stella International (1836 HK) booked US$426.3 million and US$970.8 million for the 3-month and 9-month periods ended Sep 30 respectively, up 41.5 per cent and 27.7 per cent respectively over the same periods a year ago. (SingTao Daily B2)
Value Partners Group (806 HK) announces a placing of 140 million shares, 8 per cent of the issued share capital as enlarged, at HK$5.68-5.93 per share, 5-9 per cent discount to yesterday’s closing price of HK$6.24, via JP Morgan. (Hong Kong Economic Times A8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, October 14, 2010
Hong Kong Stock Market Wrap October 13th, 2010
Bonjour Holdings (653 HK) booked a 14.2 per cent increase in retail sales amount over the same period last year in the National Day golden week on Oct 1-7. The growth in sales is mainly driven by the increase of mainlanders visiting Hong Kong. (SingTao Daily B4)
The Ministry of Land and Resources of the PRC announces the result regarding the handling of certain unlawful uses of land and resources occupied by BYD (1211 HK) subsidiary. The Shannxi provincial office of the Ministry of Land and Resources has decided that the buildings, constructions and facilitates built on the land shall be forfeit and a fine of 2.95 million yuan shall be imposed on the BYD subsidiary. (SingTao Daily B4)
China CITIC Bank’s (998 HK) controlling shareholder CITIC Group intends to subscribe for all the rights shares according to a rights issue plan. Ministry of Finance has approved the plan and the subscription undertaking by CITIC Group. China CITIC Bank says it will continue to apply for approvals from the relevant domestic and offshore regulatory authorities including China Banking Regulatory Commission, China Securities Regulatory Commission and the HK bourse. (Hong Kong Economic Times A15)
China Huiyuan Juice (1886 HK) has obtained the waiver in respect of the US$250 million loan, on the conditions that the company shall pay the lending banks US$1.25 million, prepay an aggregate of US$25 million within one month from the waiver date, and the interest on the relevant loans shall be increased 0.5 per cent per annum. (SingTao Daily B4)
Datang International Power Generation (991 HK) posted power generation of 128.4 billion kWh for the 1st 3Qs, up 26.16 per cent yoy, on a rise in capacity of the operational generating units and the demand for power in the society. (Hong Kong Economic Times A15)
The total sales volume of Geely Automobile (175 HK) for the first nine months was 274,980 units of vehicles, surging 26.5 per cent year-on-year, which achieves 68.7 per cent of the full-year sales target of 400,000 units of vehicles in the year. (SingTao Daily B4)
Huaneng Power International (902 HK) saw power generation go up 32 per cent yoy to 190.9 billion kWh in the 1st 3Qs on an increase in national electricity demand, lower base number of power generation last year and the electricity generation contributable by new generating units. (Hong Kong Economic Times A15)
International Mining Machinery’s (1683 HK) substantial shareholder TJCC Holdings sold 175 million shares of the company at HK$6.7-6.9 each yesterday after closing. According to info from HKEx, TJCC’s shareholding in the company was down from 60 per cent to around 46.5 per cent. Shares closed at HK$7.15 yesterday. (Hong Kong Economic Times A15)
IRC (1029 HK) announces that offer price is fixed at HK$1.8, 18 per cent lower than the lower end of price range. Shares to be issued are down from 1.325 billion shares to 1.04 billion shares. Board lot size is now 2000 shares. Maximum offer price a lot is around HK$3636.3. It plans to list on 21 Oct. (Hong Kong Economic Journal P11)
Jingwei Textile (350 HK) machinery expects a turnaround to profit-making for the nine-month period ended Sep 30, recording a net profit of around 95-110 million yuan. Earnings per share was about 15.7-18.2 fen. The sharp growth in profit is mainly because Zhongrong International Trust Co. Ltd. has become consolidated in the accounts of the company since August 2010.
(SingTao Daily B4)
MMC (975 HK) opened at HK$7.02, same as the offer price, and rose 4.7 per cent to close at HK$7.35, better than in the gray market. Holding a lot generated a paper gain of HK$165. Chairman Odjargal Jambaljamts says the company intends to list on Mongolia bourse but it will take time to confirm the plan. (Hong Kong Economic Journal P11)
Sources say that Sihuan Pharmaceutical’s international (460HK) placing is well received and shares are 10 times oversubscribed. It will kick off its IPO tomorrow. (Hong Kong Economic Journal P11)
Sino Dragon New Energy (395 HK) plans to place 221 million shares at a price of HK$0.324 per share, representing nearly 18 per cent discount to its closing price yesterday. The company intends to use the net proceeds of around HK$70.1 million to finance potential investment projects.
(SingTao Daily B4)
Standard Chartered (2888 HK) seeks to raise around HK$39.91 billion through a rights issue at a price of 1,280 pence (around HK$156.82) per share, representing a 31.82 per cent discount to its closing price before trading suspension. The rights issue will be based on one share for every eight existing shares. This surprise move sent the lender's shares down 1.1 per cent to close at HK$227 yesterday. (SingTao Daily B2)
TCL (1070 HK) saw sales of LCD TV dipping 12.4 per cent year-on-year to 983,000 units in Sep, while proportion of LED Backlight LCD TV jumped 18.9 per cent. Sales of LCD TV went down 6.1 per cent year-on-year for the first nine months. The company has finished clearing up old model stocks for the mainland market on schedule. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
The Ministry of Land and Resources of the PRC announces the result regarding the handling of certain unlawful uses of land and resources occupied by BYD (1211 HK) subsidiary. The Shannxi provincial office of the Ministry of Land and Resources has decided that the buildings, constructions and facilitates built on the land shall be forfeit and a fine of 2.95 million yuan shall be imposed on the BYD subsidiary. (SingTao Daily B4)
China CITIC Bank’s (998 HK) controlling shareholder CITIC Group intends to subscribe for all the rights shares according to a rights issue plan. Ministry of Finance has approved the plan and the subscription undertaking by CITIC Group. China CITIC Bank says it will continue to apply for approvals from the relevant domestic and offshore regulatory authorities including China Banking Regulatory Commission, China Securities Regulatory Commission and the HK bourse. (Hong Kong Economic Times A15)
China Huiyuan Juice (1886 HK) has obtained the waiver in respect of the US$250 million loan, on the conditions that the company shall pay the lending banks US$1.25 million, prepay an aggregate of US$25 million within one month from the waiver date, and the interest on the relevant loans shall be increased 0.5 per cent per annum. (SingTao Daily B4)
Datang International Power Generation (991 HK) posted power generation of 128.4 billion kWh for the 1st 3Qs, up 26.16 per cent yoy, on a rise in capacity of the operational generating units and the demand for power in the society. (Hong Kong Economic Times A15)
The total sales volume of Geely Automobile (175 HK) for the first nine months was 274,980 units of vehicles, surging 26.5 per cent year-on-year, which achieves 68.7 per cent of the full-year sales target of 400,000 units of vehicles in the year. (SingTao Daily B4)
Huaneng Power International (902 HK) saw power generation go up 32 per cent yoy to 190.9 billion kWh in the 1st 3Qs on an increase in national electricity demand, lower base number of power generation last year and the electricity generation contributable by new generating units. (Hong Kong Economic Times A15)
International Mining Machinery’s (1683 HK) substantial shareholder TJCC Holdings sold 175 million shares of the company at HK$6.7-6.9 each yesterday after closing. According to info from HKEx, TJCC’s shareholding in the company was down from 60 per cent to around 46.5 per cent. Shares closed at HK$7.15 yesterday. (Hong Kong Economic Times A15)
IRC (1029 HK) announces that offer price is fixed at HK$1.8, 18 per cent lower than the lower end of price range. Shares to be issued are down from 1.325 billion shares to 1.04 billion shares. Board lot size is now 2000 shares. Maximum offer price a lot is around HK$3636.3. It plans to list on 21 Oct. (Hong Kong Economic Journal P11)
Jingwei Textile (350 HK) machinery expects a turnaround to profit-making for the nine-month period ended Sep 30, recording a net profit of around 95-110 million yuan. Earnings per share was about 15.7-18.2 fen. The sharp growth in profit is mainly because Zhongrong International Trust Co. Ltd. has become consolidated in the accounts of the company since August 2010.
(SingTao Daily B4)
MMC (975 HK) opened at HK$7.02, same as the offer price, and rose 4.7 per cent to close at HK$7.35, better than in the gray market. Holding a lot generated a paper gain of HK$165. Chairman Odjargal Jambaljamts says the company intends to list on Mongolia bourse but it will take time to confirm the plan. (Hong Kong Economic Journal P11)
Sources say that Sihuan Pharmaceutical’s international (460HK) placing is well received and shares are 10 times oversubscribed. It will kick off its IPO tomorrow. (Hong Kong Economic Journal P11)
Sino Dragon New Energy (395 HK) plans to place 221 million shares at a price of HK$0.324 per share, representing nearly 18 per cent discount to its closing price yesterday. The company intends to use the net proceeds of around HK$70.1 million to finance potential investment projects.
(SingTao Daily B4)
Standard Chartered (2888 HK) seeks to raise around HK$39.91 billion through a rights issue at a price of 1,280 pence (around HK$156.82) per share, representing a 31.82 per cent discount to its closing price before trading suspension. The rights issue will be based on one share for every eight existing shares. This surprise move sent the lender's shares down 1.1 per cent to close at HK$227 yesterday. (SingTao Daily B2)
TCL (1070 HK) saw sales of LCD TV dipping 12.4 per cent year-on-year to 983,000 units in Sep, while proportion of LED Backlight LCD TV jumped 18.9 per cent. Sales of LCD TV went down 6.1 per cent year-on-year for the first nine months. The company has finished clearing up old model stocks for the mainland market on schedule. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, October 13, 2010
Hong Kong Stock Market Wrap October 12th, 2010
Central China Real Estate (832 HK) intends to issue senior notes, carrying an initial interest rate of around 12.5 per cent, with US$200-300 million of issuing amount. (SingTao Daily B4)
China Construction Bank (939 HK) announces that, for the year ended 8 Oct, Huijin has increased its shareholdings in the bank by 16.1392 million A-shares through the trading system of the Shanghai Stock Exchange, around 0.01 per cent of the total issued share capital of CCB. (Hong Kong Economic Times A12)
China Merchants Bank (3968 HK) expects a net profit attributable to shareholders for the nine months ended Sep 30 to increase more than 50 per cent over the same period of the previous year. The lender booked a net profit of around 13.078 billion yuan for the first 9-month period last year, estimating its net profit during the same period this year will amount to not less than 19.617 billion yuan. (SingTao Daily B4)
China Power International Development (2380 HK) announces that, for the first 3 quarters ended the end of Sep, electricity sales of its electricity plants rose 45.35 per cent to 34.897 million MW. (Hong Kong Economic Times A12)
Comtec Solar Systems Group (712 HK) announces that it posted net profit of 149.3 billion yuan in the first 3 quarters. Gross profit margin amounted to 27.2 per cent. (Hong Kong Economic Times A12)
Dragonlott Entertainment Group (8078 HK) is aiming to place up to 280 million new shares to not less than six placees at a price of HK$0.415 per share, representing around 25 per cent of the issued share capital as enlarged. (SingTao Daily B4)
Future Bright (703 HK) is planning to acquire a commercial building located at Largo da Companha de Jesus N°2 in Macau, involving a consideration of HK$262 million. (SingTao Daily B4)
Great Wall Motor (2333 HK) intends to issue not more than 121.7 million A shares to be listed on the Shanghai Stock Exchange. The amount of funds to be raised is pending confirmation. If the company price the A shares equivalent to existing H shares, the raising amount may reach 2.434 billion yuan. Shares of Great Wall ended 3.15 per cent lower at HK$20 yesterday, apparently underperform other mainland auto shares. (SingTao Daily B4)
Greentown China (3900 HK) posted contracted sales in Sep of about 7.1 billion yuan, surging 35 per cent year-on-year. Contracted sales for the first nine months amounted to 23 billion yuan. (SingTao Daily B4)
UBS says the current price of Hong Kong Exchanges and Clearing (388 HK) is too high already, reiterating Sell rating on the bourse, raising target price on it from HK$105 to HK$115.
Hong Kong Food Investment (60 HK) is expected to record a loss for the six months ended 30 Sep 2010 as compared with the profit for the same period in 2009. Such loss is mainly attributable to a weak market. (SingTao Daily B4)
Chinachem Group (683 HK) beat Kerry Properties and secured the site at 3 and 5 Ede Road, Kowloon Tong for HK$1.63 billion. (Hong Kong Economic Times A2)
Shares of Tencent (700 HK) rose to record high for the second straight session, ending 3.52 per cent higher at HK$182.3 yesterday. JP Morgan keep bullish on Tencent, raising the target price to HK$205.
Veeko International’s (1173 HK) subsidiary Colourmix recorded almost 58 per cent growth in sales volume year-on-year during the National Golden Week period on Oct 1-7. (SingTao Daily B4)
VST Holdings’ (856 HK) subsidiary ECS Holdings Limited, which is listed on the Singapore Exchange Securities, considers to offer and list Taiwan Depository Receipts (TDR). The current intention of the ECS board is that the maximum number of the new shares shall not be in excess of 20 per cent of the existing issued share capital. (Hong Kong Economic Journal P10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Construction Bank (939 HK) announces that, for the year ended 8 Oct, Huijin has increased its shareholdings in the bank by 16.1392 million A-shares through the trading system of the Shanghai Stock Exchange, around 0.01 per cent of the total issued share capital of CCB. (Hong Kong Economic Times A12)
China Merchants Bank (3968 HK) expects a net profit attributable to shareholders for the nine months ended Sep 30 to increase more than 50 per cent over the same period of the previous year. The lender booked a net profit of around 13.078 billion yuan for the first 9-month period last year, estimating its net profit during the same period this year will amount to not less than 19.617 billion yuan. (SingTao Daily B4)
China Power International Development (2380 HK) announces that, for the first 3 quarters ended the end of Sep, electricity sales of its electricity plants rose 45.35 per cent to 34.897 million MW. (Hong Kong Economic Times A12)
Comtec Solar Systems Group (712 HK) announces that it posted net profit of 149.3 billion yuan in the first 3 quarters. Gross profit margin amounted to 27.2 per cent. (Hong Kong Economic Times A12)
Dragonlott Entertainment Group (8078 HK) is aiming to place up to 280 million new shares to not less than six placees at a price of HK$0.415 per share, representing around 25 per cent of the issued share capital as enlarged. (SingTao Daily B4)
Future Bright (703 HK) is planning to acquire a commercial building located at Largo da Companha de Jesus N°2 in Macau, involving a consideration of HK$262 million. (SingTao Daily B4)
Great Wall Motor (2333 HK) intends to issue not more than 121.7 million A shares to be listed on the Shanghai Stock Exchange. The amount of funds to be raised is pending confirmation. If the company price the A shares equivalent to existing H shares, the raising amount may reach 2.434 billion yuan. Shares of Great Wall ended 3.15 per cent lower at HK$20 yesterday, apparently underperform other mainland auto shares. (SingTao Daily B4)
Greentown China (3900 HK) posted contracted sales in Sep of about 7.1 billion yuan, surging 35 per cent year-on-year. Contracted sales for the first nine months amounted to 23 billion yuan. (SingTao Daily B4)
UBS says the current price of Hong Kong Exchanges and Clearing (388 HK) is too high already, reiterating Sell rating on the bourse, raising target price on it from HK$105 to HK$115.
Hong Kong Food Investment (60 HK) is expected to record a loss for the six months ended 30 Sep 2010 as compared with the profit for the same period in 2009. Such loss is mainly attributable to a weak market. (SingTao Daily B4)
Chinachem Group (683 HK) beat Kerry Properties and secured the site at 3 and 5 Ede Road, Kowloon Tong for HK$1.63 billion. (Hong Kong Economic Times A2)
Shares of Tencent (700 HK) rose to record high for the second straight session, ending 3.52 per cent higher at HK$182.3 yesterday. JP Morgan keep bullish on Tencent, raising the target price to HK$205.
Veeko International’s (1173 HK) subsidiary Colourmix recorded almost 58 per cent growth in sales volume year-on-year during the National Golden Week period on Oct 1-7. (SingTao Daily B4)
VST Holdings’ (856 HK) subsidiary ECS Holdings Limited, which is listed on the Singapore Exchange Securities, considers to offer and list Taiwan Depository Receipts (TDR). The current intention of the ECS board is that the maximum number of the new shares shall not be in excess of 20 per cent of the existing issued share capital. (Hong Kong Economic Journal P10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, October 12, 2010
Hong Kong Stock Market Wrap October 11th, 2010
Asian Citrus’ (73 HK) wholly-owned subsidiary A-One Success entered into an agreement with Sunshine Hero, Excel Blaze, 5 bondholders and a guarantor yesterday. A-One Success is to acquire from them the entire issued share capital of BPG Food & Beverage at consideration of HK$2.0407 billion. (Hong Kong Economic Journal P8)
Celestial Asia and CASH Financial Services Group (1049 HK) jointly announced that the former’s major shareholder and directors sold an aggregate of 18.168 million shares of the latter yesterday. (SingTao Daily B2)
Chiho-Tiande (976 HK) has signed a joint venture agreement with Shanghai Lu Yong. The JV is expected to have a registered capital of 31 million yuan, which will be contributed by the company as to 51 per cent. (SingTao Daily B2)
China Natural Investment (8250 HK) has disposed a total of 30.66 million shares of Apollo Solar Energy Technology (0566) on the open market from 4 Mar to 5 Oct 2010, at an average price of HK$0.74 per share, involving around HK$22.7 million in total. The proceeds is expected to be around HK$12.9 million. The company will cease to hold any Solar Shares after the disposal. (SingTao Daily B2)
China Overseas Land & Investment (688 HK) recorded Sep sales of HK$8.05 billon, jumping 61 per cent mom, with sales area of 566,000 sqm. Sales for the first 9 months amounted to HK$46.1 billion, with sales area of 3.595 million sqm, down 10.2 per cent. (Hong Kong Economic Journal P4)
CNOOC (883 HK) has planned to acquire around 33 per cent equity interest in the US Eagle Ford Shale project for a consideration of US$1.08 billion (around HK$8.4 billion) in cash. The oil company has agreed to fund 75 per cent of Chesapeake's share of drilling and completion costs, until it has invested another US$1.08 billion. (SingTao Daily B1)
Far East Hotels (37 HK) has entered into a provisional contract for the sale of the property that comprises a residential property known as Flat B, 7/F, Tower 1, Mount Beacon, Kowloon Tong, for a consideration of HK$33.99 million. The company expects to recognize a profit of HK$1.99 million from the disposal while the estimated net proceeds will be around HK$17.2 million. (SingTao Daily B2)
ICBC (1398 HK) announced yesterday that Huijin has completed its share acquisition plan as at 8 Oct 2010. During the past 12-month share acquisition period, Huijin increased its holding of A shares in the bank by a total of 30.07 million A shares, representing about 0.01 per cent of the bank’s total issued share capital. (SingTao Daily B2)
Henderson Land Development (12 HK) chairman Lee Shau Kee increased holding of the company by over 7.15 million shares at undisclosed price last Tue according to info from HKEx, taking his shareholding in the company to 65.67 per cent. (Hong Kong Economic Journal P10)
HSBC (5 HK) is planning to sell the UK train leasing company Eversholt to a consortium including the infrastructure unit of Morgan Stanley for GBP2 billion, the UK Times reports. (SingTao Daily B2)
Kunlun Energy (135 HK) has received confirmation from China Beijing Equity Exchange yesterday regarding its bidding application for the Dalian LNG acquisition. The company has succeeded in the bidding at a consideration of around 2.009 billion yuan. (SingTao Daily B2)
Man Wah Holdings (1999 HK) announces that, during China’s National Day Golden Week from 1-7 Oct, “Cheers” 107 self-owned stores in the PRC recorded sales of 36.2 million yuan, up 38.7 per cent over the National Day Golden Week of last year. (Hong Kong Economic Times A12)
The Listing Committee of the Stock Exchange, according to SRE Group (1207 HK), convened a hearing on 7 Oct to consider application from China New Town Development, a company under SRE Group, for listing on the main board. CNTD plans to list on the main board by way of introduction on or around 22 Oct. (Hong Kong Economic Times A12)
Tomson Group’s (258 HK) subsidiary Tianjin Tomson plans to acquire 49.9 per cent equity interest in Jinwan Real Estate and 36 per cent equity interest in Jinwan Property. It submitted on 11 Oct an irrevocable bid in an open tender process at Tianjin Property Rights Exchange and paid a deposit of around 517.53 million yuan. The company, after the acquisition, will hold 75 per cent and 51 per cent equity interests in Jinwan Real Estate and Jinwan Property respectively. (Hong Kong Economic Journal P10)
Yue Yuen Industrial (551 HK) booked Sep net consolidated operating revenue of 528 million dollars, up 36.1 per cent. Net consolidated accumulative operating revenue amounted to 4.472 billion dollars for the 9 months ended 30 Sep. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Celestial Asia and CASH Financial Services Group (1049 HK) jointly announced that the former’s major shareholder and directors sold an aggregate of 18.168 million shares of the latter yesterday. (SingTao Daily B2)
Chiho-Tiande (976 HK) has signed a joint venture agreement with Shanghai Lu Yong. The JV is expected to have a registered capital of 31 million yuan, which will be contributed by the company as to 51 per cent. (SingTao Daily B2)
China Natural Investment (8250 HK) has disposed a total of 30.66 million shares of Apollo Solar Energy Technology (0566) on the open market from 4 Mar to 5 Oct 2010, at an average price of HK$0.74 per share, involving around HK$22.7 million in total. The proceeds is expected to be around HK$12.9 million. The company will cease to hold any Solar Shares after the disposal. (SingTao Daily B2)
China Overseas Land & Investment (688 HK) recorded Sep sales of HK$8.05 billon, jumping 61 per cent mom, with sales area of 566,000 sqm. Sales for the first 9 months amounted to HK$46.1 billion, with sales area of 3.595 million sqm, down 10.2 per cent. (Hong Kong Economic Journal P4)
CNOOC (883 HK) has planned to acquire around 33 per cent equity interest in the US Eagle Ford Shale project for a consideration of US$1.08 billion (around HK$8.4 billion) in cash. The oil company has agreed to fund 75 per cent of Chesapeake's share of drilling and completion costs, until it has invested another US$1.08 billion. (SingTao Daily B1)
Far East Hotels (37 HK) has entered into a provisional contract for the sale of the property that comprises a residential property known as Flat B, 7/F, Tower 1, Mount Beacon, Kowloon Tong, for a consideration of HK$33.99 million. The company expects to recognize a profit of HK$1.99 million from the disposal while the estimated net proceeds will be around HK$17.2 million. (SingTao Daily B2)
ICBC (1398 HK) announced yesterday that Huijin has completed its share acquisition plan as at 8 Oct 2010. During the past 12-month share acquisition period, Huijin increased its holding of A shares in the bank by a total of 30.07 million A shares, representing about 0.01 per cent of the bank’s total issued share capital. (SingTao Daily B2)
Henderson Land Development (12 HK) chairman Lee Shau Kee increased holding of the company by over 7.15 million shares at undisclosed price last Tue according to info from HKEx, taking his shareholding in the company to 65.67 per cent. (Hong Kong Economic Journal P10)
HSBC (5 HK) is planning to sell the UK train leasing company Eversholt to a consortium including the infrastructure unit of Morgan Stanley for GBP2 billion, the UK Times reports. (SingTao Daily B2)
Kunlun Energy (135 HK) has received confirmation from China Beijing Equity Exchange yesterday regarding its bidding application for the Dalian LNG acquisition. The company has succeeded in the bidding at a consideration of around 2.009 billion yuan. (SingTao Daily B2)
Man Wah Holdings (1999 HK) announces that, during China’s National Day Golden Week from 1-7 Oct, “Cheers” 107 self-owned stores in the PRC recorded sales of 36.2 million yuan, up 38.7 per cent over the National Day Golden Week of last year. (Hong Kong Economic Times A12)
The Listing Committee of the Stock Exchange, according to SRE Group (1207 HK), convened a hearing on 7 Oct to consider application from China New Town Development, a company under SRE Group, for listing on the main board. CNTD plans to list on the main board by way of introduction on or around 22 Oct. (Hong Kong Economic Times A12)
Tomson Group’s (258 HK) subsidiary Tianjin Tomson plans to acquire 49.9 per cent equity interest in Jinwan Real Estate and 36 per cent equity interest in Jinwan Property. It submitted on 11 Oct an irrevocable bid in an open tender process at Tianjin Property Rights Exchange and paid a deposit of around 517.53 million yuan. The company, after the acquisition, will hold 75 per cent and 51 per cent equity interests in Jinwan Real Estate and Jinwan Property respectively. (Hong Kong Economic Journal P10)
Yue Yuen Industrial (551 HK) booked Sep net consolidated operating revenue of 528 million dollars, up 36.1 per cent. Net consolidated accumulative operating revenue amounted to 4.472 billion dollars for the 9 months ended 30 Sep. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, October 11, 2010
Hong Kong Stock Market Wrap October 8th, 2010
Beijing Capital Land’s (2868 HK) mandate to proceed with a proposed A share issue was expired on 24 Sep. The application to the CSRC regarding the issue is yet to be approved. The board has resolved to seek approval from shareholders for a renewal of the mandate authorizing it to issue up to 1.4 billion new A shares to raise 9.55 billion yuan for 14 projects. (Hong Kong Economic Journal P7)
Century City International (355 HK) announces a rights issue on the basis of 1 rights share for every 10 shares. It plans to issue not less than 239 million new shares HK$0.48 each to raise not less than HK$114.8 million. Net proceeds will be used to exercise Paliburg warrants at HK$2.1 per share. (SingTao Daily B13)
Chaowei Power (951 HK) confirms to invest in and construct a new production facility in Ningyang County, Shandong Province at estimated total investment of 230 million yuan. Construction of the project is expected to complete and trial operation is expected to begin in 2H next year. (SingTao Daily B13)
Fook Woo Group (923 HK) enters into an agreement with Chow Tai Fook Nominee agreeing to issue over 366 million shares at HK$2.4 per share to the latter for HK$879 million. After the subscription, Chow Tai Fook Nominee’s shareholding in the company will be increased from 0.56 per cent to 15.37 per cent. (SingTao Daily B13)
IRC Limited (1029 HK) cuts its offer price to HK$1.8, down over 18 per cent. Funds to be raised reduce to HK$1.93 billion, down 50 per cent. Sources say that the listing date of 14 Oct will be delayed. Share price of Petropavlovsk, listed in London, dropped over 5 per cent on the news. (Hong Kong Economic Journal P4)
Noble Jewelry Holdings (475 HK) expects profit for the 6 months ended 30 Sep to rise sharply on improved consumer sentiment spurred by the gradually reviving global economy and its adoption of stringent cost control measures. (SingTao Daily B13)
Shanghai Forte Land (2337 HK) recorded contractual sales area and sales amount for Sep of about 130,800 square metres and 1.9 billion yuan, up 76 per cent and 1.6 times yoy respectively. Contractual sales from Jan to Sep amounted to 9.954 billion yuan. (SingTao Daily B13)
Country Garden (2007 HK) booked subscription amount of 2.8 billion yuan in property sales during the period of Oct 1 Golden Week, with subscription areas of 500,000 sqm, increasing by 26 per cet and 20 per cent respectively. The two new projects launched during the Golden Week are located at Jiangmen, Guangdong and Beiliu, Guangxi, fetching a total of 460 million yuan in sales subscription. (Hong Kong Economic Journal P10)
GR Vietnam (139 HK) proposes to issue and place three-year HK$200 million zero coupon convertible bonds. The convertible bonds will be convertible into new shares at a price of HK$0.125 per share. The company aims to place and issue 1.6 billion new shares, representing around 36 per cent of issued shared capital as enlarged. The net proceeds will be used to redeem the 2007 convertible bonds. (SingTao Daily B14)
Greentown China (3900 HK) plans to transfer 51 per cent equity interest in Shangdong Dongcheng to Qingdao Haier Property Group for a consideration of 301 million yuan. Upon completion of the disposal, Shandong Dongcheng will be owned by Greentown China as to 49 per cent and cease to be a subsidiary of the company. (Hong Kong Economic Journal P10)
Intime Department Store’s (1833 HK) same-store sales reached 4.595 billion yuan for the first nine months, rising 17.7 per cent over the same period of 2009. Gross sale proceeds of concessionaire and direct sales for the 9-month period, inclusive of 4 stores opened for less than one year, amounted to 5.667 billion yuan, surging 39.3 per cent year-on-year. (Hong Kong Economic Times A14)
Quality Healthcare Asia (593 HK) is planning to sell medical and healthcare businesses to Altai Investmetn, a subsidiary of Fortis Global Healthcare, for a consideration of HK$1.521 billion. The company considers to declare a special interim dividend of up to HK$1.00 per share. (SingTao Daily B14)
Sam Woo Holdings (2322 HK) aims to sell its foundation engineering and related engineering equipment trading businesses to major shareholder Leung Lai-so, for a consideration of HK$140 million, expecting a gain of HK$34 million. After completion of the disposal, Sam Woo plans to distribute a special dividend of no less than HK$140 million, equal to no less than 4.6 HK cents per share. (SingTao Daily B14)
Siberian Mining Group (1142 HK) proposes to place 120 million shares by way of top-up placing to not less than six placees at a price of HK$0.2 per share, a discount of 19 per cent to its close yesterday. The net proceeds will be around HK$22.3 million. (SingTao Daily B14)
Xinjiang Goldwind (2208 HK) received a notice jointly issued by the Economic and Trade Development Bureau and the Bureau of Finance of the Economic & Technology Development District in Urumqi on Sep 30. According to the notice, Xinjiang Goldwind will be granted support funds of 43.5 million yuan. (SingTao Daily B14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Century City International (355 HK) announces a rights issue on the basis of 1 rights share for every 10 shares. It plans to issue not less than 239 million new shares HK$0.48 each to raise not less than HK$114.8 million. Net proceeds will be used to exercise Paliburg warrants at HK$2.1 per share. (SingTao Daily B13)
Chaowei Power (951 HK) confirms to invest in and construct a new production facility in Ningyang County, Shandong Province at estimated total investment of 230 million yuan. Construction of the project is expected to complete and trial operation is expected to begin in 2H next year. (SingTao Daily B13)
Fook Woo Group (923 HK) enters into an agreement with Chow Tai Fook Nominee agreeing to issue over 366 million shares at HK$2.4 per share to the latter for HK$879 million. After the subscription, Chow Tai Fook Nominee’s shareholding in the company will be increased from 0.56 per cent to 15.37 per cent. (SingTao Daily B13)
IRC Limited (1029 HK) cuts its offer price to HK$1.8, down over 18 per cent. Funds to be raised reduce to HK$1.93 billion, down 50 per cent. Sources say that the listing date of 14 Oct will be delayed. Share price of Petropavlovsk, listed in London, dropped over 5 per cent on the news. (Hong Kong Economic Journal P4)
Noble Jewelry Holdings (475 HK) expects profit for the 6 months ended 30 Sep to rise sharply on improved consumer sentiment spurred by the gradually reviving global economy and its adoption of stringent cost control measures. (SingTao Daily B13)
Shanghai Forte Land (2337 HK) recorded contractual sales area and sales amount for Sep of about 130,800 square metres and 1.9 billion yuan, up 76 per cent and 1.6 times yoy respectively. Contractual sales from Jan to Sep amounted to 9.954 billion yuan. (SingTao Daily B13)
Country Garden (2007 HK) booked subscription amount of 2.8 billion yuan in property sales during the period of Oct 1 Golden Week, with subscription areas of 500,000 sqm, increasing by 26 per cet and 20 per cent respectively. The two new projects launched during the Golden Week are located at Jiangmen, Guangdong and Beiliu, Guangxi, fetching a total of 460 million yuan in sales subscription. (Hong Kong Economic Journal P10)
GR Vietnam (139 HK) proposes to issue and place three-year HK$200 million zero coupon convertible bonds. The convertible bonds will be convertible into new shares at a price of HK$0.125 per share. The company aims to place and issue 1.6 billion new shares, representing around 36 per cent of issued shared capital as enlarged. The net proceeds will be used to redeem the 2007 convertible bonds. (SingTao Daily B14)
Greentown China (3900 HK) plans to transfer 51 per cent equity interest in Shangdong Dongcheng to Qingdao Haier Property Group for a consideration of 301 million yuan. Upon completion of the disposal, Shandong Dongcheng will be owned by Greentown China as to 49 per cent and cease to be a subsidiary of the company. (Hong Kong Economic Journal P10)
Intime Department Store’s (1833 HK) same-store sales reached 4.595 billion yuan for the first nine months, rising 17.7 per cent over the same period of 2009. Gross sale proceeds of concessionaire and direct sales for the 9-month period, inclusive of 4 stores opened for less than one year, amounted to 5.667 billion yuan, surging 39.3 per cent year-on-year. (Hong Kong Economic Times A14)
Quality Healthcare Asia (593 HK) is planning to sell medical and healthcare businesses to Altai Investmetn, a subsidiary of Fortis Global Healthcare, for a consideration of HK$1.521 billion. The company considers to declare a special interim dividend of up to HK$1.00 per share. (SingTao Daily B14)
Sam Woo Holdings (2322 HK) aims to sell its foundation engineering and related engineering equipment trading businesses to major shareholder Leung Lai-so, for a consideration of HK$140 million, expecting a gain of HK$34 million. After completion of the disposal, Sam Woo plans to distribute a special dividend of no less than HK$140 million, equal to no less than 4.6 HK cents per share. (SingTao Daily B14)
Siberian Mining Group (1142 HK) proposes to place 120 million shares by way of top-up placing to not less than six placees at a price of HK$0.2 per share, a discount of 19 per cent to its close yesterday. The net proceeds will be around HK$22.3 million. (SingTao Daily B14)
Xinjiang Goldwind (2208 HK) received a notice jointly issued by the Economic and Trade Development Bureau and the Bureau of Finance of the Economic & Technology Development District in Urumqi on Sep 30. According to the notice, Xinjiang Goldwind will be granted support funds of 43.5 million yuan. (SingTao Daily B14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, October 8, 2010
Hong Kong Stock Market Wrap October 7th, 2010
AgBank (1288 HK) reportedly plans to issue HK$300 million CDs due 2011 in HK, bearing interest of 0.8 per cent. It is said that the bank has already hired HSBC as the underwriter. (Hong Kong Economic Times A8)
Agritrade Resources (1131 HK) announced yesterday that Li Man-ching and Li Mei-lin resigned as chairman and deputy chairman respectively with immediate effect, but both will remain as executive director. The company has appointed Rashid Bin Maidin as chief executive officer and Ng Xin-wei as chief operating officer. (SingTao Daily B4)
Arnhold Holdings’ (102 HK) subsidiary ACL has acquired three bond funds through HSBC (0005) for a total consideration of US$3 million. The three bond funds were HSBC Asian Bond Fund, PIMCO Global Investment Grade Credit Fund and TEMPLETON Global Bond Fund. (SingTao Daily B4)
C Y Foundation Group (1182 HK) has been notified by its chairman Cheng Chee Tock Theodore that he and his spouse Leonora Yung, vice president of HR & Admin Dept of the company, are under investigation by ICAC for an alleged corruption and use of false documents to deceive the board and shareholders of the company regarding certain property transactions but no charges have been laid against them. (Hong Kong Economic Times A8)
China Environmental Resources (1130 HK) announced yesterday that Shinewing (HK) CPA resigned as auditor with immediate effect. It also announced that Zhonglei (HK) CPA has been appointed as auditor to fill the casual vacancy following the resignation of Shinewing and to hold office until the conclusion of the next AGM. (SingTao Daily B4)
China Post e-Commerce (8041 HK) is planning to sell 180 million shares, representing about 8.8 per cent of the issued share capital as enlarged, at a price of HK$0.20 per share. The net proceeds of around HK$35.85 million will be used for general operating capital. (SingTao Daily B4)
It is said that China Suntien Green Energy (956 HK) has fixed its offer price at HK$2.66 to raise HK$2.87 billion. It will list on 13 Oct. (Hong Kong Economic Journal P6)
GR Vietnam (139 HK) expects the results for the six months’ period ended 30 September 2010 to record a material loss over the corresponding period last year. The said loss is mainly attributable to the realized loss on the fair value changes on the listed securities investment. (SingTao Daily B4)
ICBC (1398 HK) and ICBC (Asia) (0349) issued a notice in relation to a proposed privatization yesterday. According to the notice, court meeting and EGM will be held on 9 Nov. If approved, the latter will withdraw from listing on 21 Dec. (Hong Kong Economic Times A8)
The proposed acquisition by Li & Fung (494 HK) of Integrated Distribution Services (2387) by way of privatization was passed at the SGM of the latter yesterday. Li & Fung says even if other shareholders choose to receive cash, future acquisition projects will not be affected, with the amount of cash the group holds and with the share conversion plan chosen by substantial shareholder Fung family. (Hong Kong Economic Times A8)
Sandmartin International (482 HK) saw net profit surge almost 1.85 times to around HK$91.7 million for the year ended June 30. A final dividend of 3 HK cents was recommended. (SingTao Daily B4)
Shangdong Molong (568 HK) plans to issue 70 million A shares at a price of 18 yuan for the first time to raise 1.26 billion yuan. The placing price is close to the upper range of market expectations. The placing shares represent not more than 17.55 per cent of the issued share capital. Shares of Shangdong Molong closed at HK$10.92 yesterday, down 1.62 per cent. (SingTao Daily B4)
Springland International (1700 HK) kicks off IPO today and will list on 21 Oct. The maximum offer price is HK$5989.83 per board lot of 1000 shares. The company is issuing 625 million shares at offer price of HK$4.85-5.93 a share to raise up to HK$3.71 billion. (Hong Kong Economic Times A8)
TLT Lottotainment (8022 HK) is aiming to acquire 51 per cent equity interest in Fountain City Holdings Limited at a consideration of HK$34.5 million. The consideration will be satisfied in cash and by issuing consideration shares. Fountain City is engaged in business of entertainment programme production, events organization, TV-series production and operation of an artist training school in Macau and Southeast Asia. (SingTao Daily B4)
Zijin Mining (2899 HK) has received from Fujian provincial department an administrative punishment in relation to a series of water pollution incidents. The company has been fined for 9.56 million yuan for the July incident this year. Zijin is estimated to have a loss of around 41 million yuan in total including a direct economic loss of 31.87 million yuan from the leakage saga. (Hong Kong Economic Journal P10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Agritrade Resources (1131 HK) announced yesterday that Li Man-ching and Li Mei-lin resigned as chairman and deputy chairman respectively with immediate effect, but both will remain as executive director. The company has appointed Rashid Bin Maidin as chief executive officer and Ng Xin-wei as chief operating officer. (SingTao Daily B4)
Arnhold Holdings’ (102 HK) subsidiary ACL has acquired three bond funds through HSBC (0005) for a total consideration of US$3 million. The three bond funds were HSBC Asian Bond Fund, PIMCO Global Investment Grade Credit Fund and TEMPLETON Global Bond Fund. (SingTao Daily B4)
C Y Foundation Group (1182 HK) has been notified by its chairman Cheng Chee Tock Theodore that he and his spouse Leonora Yung, vice president of HR & Admin Dept of the company, are under investigation by ICAC for an alleged corruption and use of false documents to deceive the board and shareholders of the company regarding certain property transactions but no charges have been laid against them. (Hong Kong Economic Times A8)
China Environmental Resources (1130 HK) announced yesterday that Shinewing (HK) CPA resigned as auditor with immediate effect. It also announced that Zhonglei (HK) CPA has been appointed as auditor to fill the casual vacancy following the resignation of Shinewing and to hold office until the conclusion of the next AGM. (SingTao Daily B4)
China Post e-Commerce (8041 HK) is planning to sell 180 million shares, representing about 8.8 per cent of the issued share capital as enlarged, at a price of HK$0.20 per share. The net proceeds of around HK$35.85 million will be used for general operating capital. (SingTao Daily B4)
It is said that China Suntien Green Energy (956 HK) has fixed its offer price at HK$2.66 to raise HK$2.87 billion. It will list on 13 Oct. (Hong Kong Economic Journal P6)
GR Vietnam (139 HK) expects the results for the six months’ period ended 30 September 2010 to record a material loss over the corresponding period last year. The said loss is mainly attributable to the realized loss on the fair value changes on the listed securities investment. (SingTao Daily B4)
ICBC (1398 HK) and ICBC (Asia) (0349) issued a notice in relation to a proposed privatization yesterday. According to the notice, court meeting and EGM will be held on 9 Nov. If approved, the latter will withdraw from listing on 21 Dec. (Hong Kong Economic Times A8)
The proposed acquisition by Li & Fung (494 HK) of Integrated Distribution Services (2387) by way of privatization was passed at the SGM of the latter yesterday. Li & Fung says even if other shareholders choose to receive cash, future acquisition projects will not be affected, with the amount of cash the group holds and with the share conversion plan chosen by substantial shareholder Fung family. (Hong Kong Economic Times A8)
Sandmartin International (482 HK) saw net profit surge almost 1.85 times to around HK$91.7 million for the year ended June 30. A final dividend of 3 HK cents was recommended. (SingTao Daily B4)
Shangdong Molong (568 HK) plans to issue 70 million A shares at a price of 18 yuan for the first time to raise 1.26 billion yuan. The placing price is close to the upper range of market expectations. The placing shares represent not more than 17.55 per cent of the issued share capital. Shares of Shangdong Molong closed at HK$10.92 yesterday, down 1.62 per cent. (SingTao Daily B4)
Springland International (1700 HK) kicks off IPO today and will list on 21 Oct. The maximum offer price is HK$5989.83 per board lot of 1000 shares. The company is issuing 625 million shares at offer price of HK$4.85-5.93 a share to raise up to HK$3.71 billion. (Hong Kong Economic Times A8)
TLT Lottotainment (8022 HK) is aiming to acquire 51 per cent equity interest in Fountain City Holdings Limited at a consideration of HK$34.5 million. The consideration will be satisfied in cash and by issuing consideration shares. Fountain City is engaged in business of entertainment programme production, events organization, TV-series production and operation of an artist training school in Macau and Southeast Asia. (SingTao Daily B4)
Zijin Mining (2899 HK) has received from Fujian provincial department an administrative punishment in relation to a series of water pollution incidents. The company has been fined for 9.56 million yuan for the July incident this year. Zijin is estimated to have a loss of around 41 million yuan in total including a direct economic loss of 31.87 million yuan from the leakage saga. (Hong Kong Economic Journal P10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, October 7, 2010
Hong Kong Stock Market Wrap October 6th, 2010
IPO: Bloomberg citing sources says that Prada is studying an IPO in HK for Q1 2011 and will come to HK and hire investment banks next month. The company says Ebitda more than doubled to 225 million euros in the 6 months ended July 31. (Hong Kong Economic Times A3)
As disclosed in an announcement previously, AMA (959 HK) has provided AMAX Holdings the AMA undertaking pursuant, to which AMA will upstream the remaining HK$25 million profit by 9 monthly instalments commencing mid July this year. (SingTao Daily B3)
Boer Power Holdings (1685 HK) kicks off its IPO today and will list on 20 Oct to raise HK$821-1,196 million, with CCB International as sponsor. The shares will be offered at HK$4.38-6.38 a share at a board lot size of 1,000 shares. (Hong Kong Economic Journal P2)
After Warren Buffett’s visit, many major banks are bearish on BYD Company (1211 HK). Shares of the company went down 4.65 per cent to end at HK$58.4 yesterday. Credit Suisse sets Underperform rating on the company. Goldman Sachs sets Sell rating. (Hong Kong Economic Journal P6)
Celestial Asia Securities (1049 HK) proposes to subdivide each existing issued and unissued share of HK$0.10 of the company into ten subdivided shares of HK$0.01 each. In addition, the board lot size of the shares will be changed from 2,000 shares to 6,000 subdivided shares. (SingTao Daily B3)
Central China Real Estate (832 HK) proposes to issue guaranteed senior notes to fund new property projects, including construction costs and land premium, and for general corporate purposes, with Deutsche Bank as sole global coordinator and Deutsche Bank, ING and Nomura as joint bookrunners and joint lead managers. Approval in-principle has been received for the listing of the notes on SGX-ST. (Hong Kong Economic Journal P8)
China Nonferrous Metals (8306 HK) aims to place 200 million shares at a price of HK$0.25 per subscription share to Ruffy Investments Limited that is owned by a director of a subsidiary of the company Mei Wei. The subscription shares represent around 4.33 per cent of the issued share capital as enlarged. (SingTao Daily B3)
Glorious Property Holdings (845 HK) recorded contracted sales of around 1.606 billion yuan in Sep, up 138 per cent mom. Contracted sales area amounted to 134,733 m, up 104 per cent. Contracted sales was 5.792 billion yuan for the first 9 months. Contracted sales area reached 566,766 m. (Hong Kong Economic Journal P8)
Golden Meditech (801 HK) has made an application to the Taiwan Stock Exchange for the offering and listing of TDR, which represents 180 million shares of the company, around 9.86 per cent of the issued share capital as enlarged. The company intends to use the net proceeds for repaying bank loans and establishing a representative office in Taiwan. (SingTao Daily B3)
HannStar Board International (667 HK) announces that the unaudited net operating revenue of HannStar Jiangyin, an indirectly wholly owned subsidiary of the company, and HannStar Board (SAMOA), a directly wholly owned subsidiary of the company amounted to around NT$1.534 billion and NT$723 million respectively for September 2010. (SingTao Daily B3)
Hua Xia (8143 HK) proposes that every ten shares be consolidated into one share and the consolidated ordinary shares will be traded in board lots of 4,000 shares instead of 20,000 shares. (SingTao Daily B3)
Neo-China Land Group (563 HK) will be required on 15 Oct to pay around HK$65.41 million to redeem all HK$50.16 million principal amount of bonds that have received valid put option notices at about HK$13,040 for each HK$10,000 principal amount of bonds. Immediately after the redemption HK$2 million principal amount of bonds will still remain outstanding. (Hong Kong Economic Journal P8)
New World China Land (917 HK), subsidiary of New World Development (0017), posted profit attributable to equity holders of HK$2.636 billion for the year ended 30 June, jumping 94 per cent yoy. A final dividend of HK$0.07 per share was recommended. Property sales volume rose 1.2 times to 1.039 million sq.m. (Hong Kong Economic Journal P4)
New World Development (17 HK) posted an underlying profit of HK$6.082 billion for the year ended Jun 30, surging 72.4 per cent. Turnover rose 23.8 per cent to HK$30.219 billion. Earnings per share was HK$2.99. A final dividend of HK$0.28 per share was recommended. (SingTao Daily B3)
Yuzhou Properties (1628 HK) that launched property projects in Xiamen and Fuzhou recorded contracted sales of 470 million yuan for the first five days of October, almost a quarter of its first half sales amount, with sales area reaching 42,700 sqm. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
As disclosed in an announcement previously, AMA (959 HK) has provided AMAX Holdings the AMA undertaking pursuant, to which AMA will upstream the remaining HK$25 million profit by 9 monthly instalments commencing mid July this year. (SingTao Daily B3)
Boer Power Holdings (1685 HK) kicks off its IPO today and will list on 20 Oct to raise HK$821-1,196 million, with CCB International as sponsor. The shares will be offered at HK$4.38-6.38 a share at a board lot size of 1,000 shares. (Hong Kong Economic Journal P2)
After Warren Buffett’s visit, many major banks are bearish on BYD Company (1211 HK). Shares of the company went down 4.65 per cent to end at HK$58.4 yesterday. Credit Suisse sets Underperform rating on the company. Goldman Sachs sets Sell rating. (Hong Kong Economic Journal P6)
Celestial Asia Securities (1049 HK) proposes to subdivide each existing issued and unissued share of HK$0.10 of the company into ten subdivided shares of HK$0.01 each. In addition, the board lot size of the shares will be changed from 2,000 shares to 6,000 subdivided shares. (SingTao Daily B3)
Central China Real Estate (832 HK) proposes to issue guaranteed senior notes to fund new property projects, including construction costs and land premium, and for general corporate purposes, with Deutsche Bank as sole global coordinator and Deutsche Bank, ING and Nomura as joint bookrunners and joint lead managers. Approval in-principle has been received for the listing of the notes on SGX-ST. (Hong Kong Economic Journal P8)
China Nonferrous Metals (8306 HK) aims to place 200 million shares at a price of HK$0.25 per subscription share to Ruffy Investments Limited that is owned by a director of a subsidiary of the company Mei Wei. The subscription shares represent around 4.33 per cent of the issued share capital as enlarged. (SingTao Daily B3)
Glorious Property Holdings (845 HK) recorded contracted sales of around 1.606 billion yuan in Sep, up 138 per cent mom. Contracted sales area amounted to 134,733 m, up 104 per cent. Contracted sales was 5.792 billion yuan for the first 9 months. Contracted sales area reached 566,766 m. (Hong Kong Economic Journal P8)
Golden Meditech (801 HK) has made an application to the Taiwan Stock Exchange for the offering and listing of TDR, which represents 180 million shares of the company, around 9.86 per cent of the issued share capital as enlarged. The company intends to use the net proceeds for repaying bank loans and establishing a representative office in Taiwan. (SingTao Daily B3)
HannStar Board International (667 HK) announces that the unaudited net operating revenue of HannStar Jiangyin, an indirectly wholly owned subsidiary of the company, and HannStar Board (SAMOA), a directly wholly owned subsidiary of the company amounted to around NT$1.534 billion and NT$723 million respectively for September 2010. (SingTao Daily B3)
Hua Xia (8143 HK) proposes that every ten shares be consolidated into one share and the consolidated ordinary shares will be traded in board lots of 4,000 shares instead of 20,000 shares. (SingTao Daily B3)
Neo-China Land Group (563 HK) will be required on 15 Oct to pay around HK$65.41 million to redeem all HK$50.16 million principal amount of bonds that have received valid put option notices at about HK$13,040 for each HK$10,000 principal amount of bonds. Immediately after the redemption HK$2 million principal amount of bonds will still remain outstanding. (Hong Kong Economic Journal P8)
New World China Land (917 HK), subsidiary of New World Development (0017), posted profit attributable to equity holders of HK$2.636 billion for the year ended 30 June, jumping 94 per cent yoy. A final dividend of HK$0.07 per share was recommended. Property sales volume rose 1.2 times to 1.039 million sq.m. (Hong Kong Economic Journal P4)
New World Development (17 HK) posted an underlying profit of HK$6.082 billion for the year ended Jun 30, surging 72.4 per cent. Turnover rose 23.8 per cent to HK$30.219 billion. Earnings per share was HK$2.99. A final dividend of HK$0.28 per share was recommended. (SingTao Daily B3)
Yuzhou Properties (1628 HK) that launched property projects in Xiamen and Fuzhou recorded contracted sales of 470 million yuan for the first five days of October, almost a quarter of its first half sales amount, with sales area reaching 42,700 sqm. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, October 6, 2010
Hong Kong Stock Market Wrap October 5th, 2010
AIA (1299 HK) plans to start IPO on 18 Oct and list on 29 Oct. It plans to issue 5.875 billion existing shares at HK$18.38-HK$19.68 per share to raise 13.8 billion-14.8 billion dollars. Cornerstone investors include Kumulan Wang Persaraan (200 million dollars) and Guoco Group (420 million dollars). (Hong Kong Economic Times A2)
Asia Satellite (1135 HK) announces that its subsidiary AsiaSat has entered into a launch contract with International Launch Services. ILS shall provide one-launch services to AsiaSat for launching AsiaSat 7 within the period between August 2011 and November 2011, such launch period can be postponed by no more than 12 months. The consideration for the provision of the launch services is around US$100 million. (SingTao Daily B2)
China Everbright (165 HK) placed 129 million new shares, 7.5 per cent of the issued share capital as enlarged, at HK$18-18.7 per share, a discount of 3.5-7.1 per cent of yesterday’s closing price of HK$19.38, yesterday to raise up to HK$2.41 billion to develop its asset management and investment business. (Hong Kong Economic Times A3)
China Unicom (762 HK) has offered 3G internet card packages, targeting at young subscribers. The package consists of 1,200 yuan of stored-value fees and a piece of 3G internet card. Customers can choose whatever monthly plan they need. (SingTao Daily B2)
Hong Long (1383 HK) was notified after closing yesterday that independent third party Chiu Ming purchased 308 million shares of Hong Long, 25 per cent of its issued share capital, from Grand Prosperity, held by Hong Long’s substantial shareholder and executive director Zeng Sheng, at HK$1.3 per share. Shares of Hong Long closed at HK$1.21 yesterday. (Hong Kong Economic Times A12)
IDT International (167 HK) plans to acquire the SGX-ST listed subsidiary IDTS. The company is required to pay up to around SGD 21 million (around HK$124 million). (SingTao Daily B2)
KWG Property’s (1813 HK) sales reached 1.1 billion in Sep. 93 per cent of the full-year sales target of 10 billion was reached. (Hong Kong Economic Journal P12)
Lee Kee Holdings (637 HK) aims to sell 60 per cent equity interest in Foshan Nanhai Almax Non-Ferrous Metals Company Ltd. to Ying Yeung Metal Materials Limited. The consideration for the sale is more than HK$38 million. (SingTao Daily B2)
Long Success International (8017 HK) is planning to sell Right Gateway for a consideration of HK$2 million. Upon completion of the sale, the company will devote resources to its other core businesses such as paper manufacturing, biodegradable materials manufacturing and other businesses relating to environmental protection. (SingTao Daily B2)
NWS (659 HK) saw net profit jump 59 per cent to HK$4.012 billion for the year ended June 30. Earnings per share was HK$1.92. A final dividend of HK$0.33 per share and one bonus share for every two existing shares were declared. Turnover of NWS amounted to HK$12.089 billion, down 30 per cent from the previous year. (SingTao Daily B3)
Poly (Hong Kong) Investment (119 HK) booked contracted sales of 7.5 billion for the first 9 months, up 17.2 per cent yoy. Sales area reached 10,300 sqm. Sep sales amounted to 1.5 billion, up 88 per cent mom. (Hong Kong Economic Times A12)
Shimao Property Holdings (813 HK) recorded contracted sales of 19.6 billion yuan in the first 9 months, up 12 per cent yoy. Sales area amounted to 1.606 million sqm at 12,200 yuan per sqm on average, up 38 per cent yoy. Sep sales reached 3.52 billion yuan, up 30 per cent mom. (Hong Kong Economic Times A12)
Silver Base Group (886 HK) has signed LOI with Inner Mongolia Mongolianking Industrial Co., Ltd. in relation to the acquisition of 35 per cent of the equity interest in Mongolianking, but the consideration is not mentioned. The company says it intends to gradually increase its interest in Mongolianking up to 51 per cent. (SingTao Daily B2)
On 28 September 2010, Tse Sui Luen Jewellery ‘s (417 HK) founder Tse Sui-luen issued a writ of summons against the current controlling shareholder Tommy Tse Tat-fung. The board does not believe this matter will have a material adverse effect on the company’s day-to-day operations. (SingTao Daily B2)
Zhongsheng Group (881 HK) shareholder placed up to 120 million existing shares, with over-allotment options, at HK$16.16-HK$16.58 per share, a discount of 3.7-6.1 per cent of yesterday’s closing price of HK$17.22, via Morgan Stanley yesterday to reap up to HK$1.989 billion. (Hong Kong Economic Times A3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Asia Satellite (1135 HK) announces that its subsidiary AsiaSat has entered into a launch contract with International Launch Services. ILS shall provide one-launch services to AsiaSat for launching AsiaSat 7 within the period between August 2011 and November 2011, such launch period can be postponed by no more than 12 months. The consideration for the provision of the launch services is around US$100 million. (SingTao Daily B2)
China Everbright (165 HK) placed 129 million new shares, 7.5 per cent of the issued share capital as enlarged, at HK$18-18.7 per share, a discount of 3.5-7.1 per cent of yesterday’s closing price of HK$19.38, yesterday to raise up to HK$2.41 billion to develop its asset management and investment business. (Hong Kong Economic Times A3)
China Unicom (762 HK) has offered 3G internet card packages, targeting at young subscribers. The package consists of 1,200 yuan of stored-value fees and a piece of 3G internet card. Customers can choose whatever monthly plan they need. (SingTao Daily B2)
Hong Long (1383 HK) was notified after closing yesterday that independent third party Chiu Ming purchased 308 million shares of Hong Long, 25 per cent of its issued share capital, from Grand Prosperity, held by Hong Long’s substantial shareholder and executive director Zeng Sheng, at HK$1.3 per share. Shares of Hong Long closed at HK$1.21 yesterday. (Hong Kong Economic Times A12)
IDT International (167 HK) plans to acquire the SGX-ST listed subsidiary IDTS. The company is required to pay up to around SGD 21 million (around HK$124 million). (SingTao Daily B2)
KWG Property’s (1813 HK) sales reached 1.1 billion in Sep. 93 per cent of the full-year sales target of 10 billion was reached. (Hong Kong Economic Journal P12)
Lee Kee Holdings (637 HK) aims to sell 60 per cent equity interest in Foshan Nanhai Almax Non-Ferrous Metals Company Ltd. to Ying Yeung Metal Materials Limited. The consideration for the sale is more than HK$38 million. (SingTao Daily B2)
Long Success International (8017 HK) is planning to sell Right Gateway for a consideration of HK$2 million. Upon completion of the sale, the company will devote resources to its other core businesses such as paper manufacturing, biodegradable materials manufacturing and other businesses relating to environmental protection. (SingTao Daily B2)
NWS (659 HK) saw net profit jump 59 per cent to HK$4.012 billion for the year ended June 30. Earnings per share was HK$1.92. A final dividend of HK$0.33 per share and one bonus share for every two existing shares were declared. Turnover of NWS amounted to HK$12.089 billion, down 30 per cent from the previous year. (SingTao Daily B3)
Poly (Hong Kong) Investment (119 HK) booked contracted sales of 7.5 billion for the first 9 months, up 17.2 per cent yoy. Sales area reached 10,300 sqm. Sep sales amounted to 1.5 billion, up 88 per cent mom. (Hong Kong Economic Times A12)
Shimao Property Holdings (813 HK) recorded contracted sales of 19.6 billion yuan in the first 9 months, up 12 per cent yoy. Sales area amounted to 1.606 million sqm at 12,200 yuan per sqm on average, up 38 per cent yoy. Sep sales reached 3.52 billion yuan, up 30 per cent mom. (Hong Kong Economic Times A12)
Silver Base Group (886 HK) has signed LOI with Inner Mongolia Mongolianking Industrial Co., Ltd. in relation to the acquisition of 35 per cent of the equity interest in Mongolianking, but the consideration is not mentioned. The company says it intends to gradually increase its interest in Mongolianking up to 51 per cent. (SingTao Daily B2)
On 28 September 2010, Tse Sui Luen Jewellery ‘s (417 HK) founder Tse Sui-luen issued a writ of summons against the current controlling shareholder Tommy Tse Tat-fung. The board does not believe this matter will have a material adverse effect on the company’s day-to-day operations. (SingTao Daily B2)
Zhongsheng Group (881 HK) shareholder placed up to 120 million existing shares, with over-allotment options, at HK$16.16-HK$16.58 per share, a discount of 3.7-6.1 per cent of yesterday’s closing price of HK$17.22, via Morgan Stanley yesterday to reap up to HK$1.989 billion. (Hong Kong Economic Times A3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, October 5, 2010
Hong Kong Stock Market Wrap October 4th, 2010
From now until 30 Oct, BOCHK’s (2388 HK) customers can enjoy preferential interest rates (RMB/ up to 1.3 per cent pa; AUD/ up to 5.2 per cent pa) upon placement of a 6-month "Flexi Time Deposit" with new funds of HK$50,000 or above or via currency exchange of existing funds. They can partially or fully withdraw the principal a month after the placement and can enjoy a currency exchange offer of up to 50bps. (Hong Kong Economic Times A12)
Chevalier Pacific Holdings (508 HK) has ceased discussion with placing agent regarding a share placement in view of the recent low in its share price. The company announced a possible placing of shares last month and its shares dropped 33.8 per cent on the news to yesterday’s closing price of HK$0.455. It stresses that no legally-binding agreement has been entered into and no placing price has been agreed. (Hong Kong Economic Journal P6)
Citigroup sets Buy rating on China State Construction International (3311 HK), with target price at HK$6.3, around 18 per cent higher than yesterday’s closing price. It raises 2011 and 2012 earnings forecast for the company by 10 per cent to 15 per cent. Shares rose 14 per cent to close at HK$5.34 yesterday. (Hong Kong Economic Times A14)
Digital China (861 HK) announces that the board approved the Taiwan TDR issue, involving around 240-260 million units, or equivalent to 60-70 million shares. The net proceeds from the TDR issue will be used for repaying loans and constructing a science and technology park and a logistics park. (SingTao Daily B2)
Esprit (330 HK) announces that it has granted 2 million share options to some individuals. The exercise price of the granted options was HK$42.34. (SingTao Daily B2)
Eternite International (8351 HK) announces that its substantial shareholders are in preliminary discussion with a potential investor regarding a possible disposal. However, their discussion with the potential investor is still ongoing and no agreement has been reached yet. The possible disposal, if materialised, may result in a change in control of the company and a possible general offer. (SingTao Daily B2)
US private equity firm Warburg Pincus & Co. increased holding of shares in Franshion Properties (China) (817 HK) by about 550 million shares at undisclosed price on 27 Sep according to info from HKEx, taking its shareholding in the company from 0 per cent to 5.98 per cent. (Hong Kong Economic Journal P11)
Good Friend International (2398 HK) received sales orders of 2,786 units in respect of CNC machine tools business for the nine months ended Sep 30, amounting to around 1.396 billion yuan, surging 1.42 times year-on-year. The total sales orders for the first nine months this year amounted to about 1.614 billion yuan, soaring 1.25 tiems over the same period a year ago. (SingTao Daily B2)
Contracted sales amount and sales areas of R&F Properties (2777 HK) in September reached 3.629 billion yuan and 260,860 sq m respectively, rising 19 per cent and 8 per cent respectively from August. Total contracted sales income for the first nine months was around 21.663 billion yuan, up 17 per cent from last year. (SingTao Daily B3)
Kaisa Group Holdings (1638 HK) recorded contracted sales of 626 million yuan in Sep, up 74 per cent. Sales area amounted to around 69,845m at 8,965 yuan per meter on average. Contracted sales reached around 6.94 billion yuan for the first 9 months. Contracted sales area amounted to around 585,000m at 11,865 per meter on average. (Hong Kong Economic Journal P11)
Lijun International Pharmaceutical (2005 HK) shareholder Wide Luck plans to place 100 million option shares, around 4.07 per cent of the total issued share capital as enlarged, at HK$2.9 per share, a discount of about 4.61 per cent to the closing price of HK$3.04 per share on 30 Sep, the last trading day before the issue. The company expects the placing to be completed on 7 Oct. (Hong Kong Economic Times A14)
New World Department Store (825 HK) China saw net profit grow 5.5 per cent to 577.6 million yuan for the year ended Jun 30. A final dividend of 7 HK cents per share was recommended. The company is also planning to acquire properties in Shenyang from New World China Land (0917) for over 456 million yuan. (SingTao Daily B3)
Goldman Sachs raises rating on Sands China (1928 HK) from Neutral to Buy. It expects gaming income in Macau to go up 50 per cent yoy to 22 billion dollars this year. It expects the growth of gaming income in Macau will slow down in Q4. (Hong Kong Economic Journal P6)
Vitop Bioenergy (1178 HK) plans to issue HK$30 million worth convertible notes at coupon rate of 3 per cent per annum due 18 months at a price of HK$0.25 per conversion share. A total of 120 million conversion shares will be issued upon full conversion of the convertible notes, which represents around 12 per cent of the enlarged issued share capital. The estimated net proceeds of around HK$29.8 million will be used for the general working capital. (SingTao Daily B2)
Z-Obee (948 HK) announces that it has submitted application to Taiwan authorities for a TDR issue. The company has yet to obtain the required approval from the Taiwan Securities and Futures Bureau for the offering and listing of the TDRs on the Taiwan Stock Exchange. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Chevalier Pacific Holdings (508 HK) has ceased discussion with placing agent regarding a share placement in view of the recent low in its share price. The company announced a possible placing of shares last month and its shares dropped 33.8 per cent on the news to yesterday’s closing price of HK$0.455. It stresses that no legally-binding agreement has been entered into and no placing price has been agreed. (Hong Kong Economic Journal P6)
Citigroup sets Buy rating on China State Construction International (3311 HK), with target price at HK$6.3, around 18 per cent higher than yesterday’s closing price. It raises 2011 and 2012 earnings forecast for the company by 10 per cent to 15 per cent. Shares rose 14 per cent to close at HK$5.34 yesterday. (Hong Kong Economic Times A14)
Digital China (861 HK) announces that the board approved the Taiwan TDR issue, involving around 240-260 million units, or equivalent to 60-70 million shares. The net proceeds from the TDR issue will be used for repaying loans and constructing a science and technology park and a logistics park. (SingTao Daily B2)
Esprit (330 HK) announces that it has granted 2 million share options to some individuals. The exercise price of the granted options was HK$42.34. (SingTao Daily B2)
Eternite International (8351 HK) announces that its substantial shareholders are in preliminary discussion with a potential investor regarding a possible disposal. However, their discussion with the potential investor is still ongoing and no agreement has been reached yet. The possible disposal, if materialised, may result in a change in control of the company and a possible general offer. (SingTao Daily B2)
US private equity firm Warburg Pincus & Co. increased holding of shares in Franshion Properties (China) (817 HK) by about 550 million shares at undisclosed price on 27 Sep according to info from HKEx, taking its shareholding in the company from 0 per cent to 5.98 per cent. (Hong Kong Economic Journal P11)
Good Friend International (2398 HK) received sales orders of 2,786 units in respect of CNC machine tools business for the nine months ended Sep 30, amounting to around 1.396 billion yuan, surging 1.42 times year-on-year. The total sales orders for the first nine months this year amounted to about 1.614 billion yuan, soaring 1.25 tiems over the same period a year ago. (SingTao Daily B2)
Contracted sales amount and sales areas of R&F Properties (2777 HK) in September reached 3.629 billion yuan and 260,860 sq m respectively, rising 19 per cent and 8 per cent respectively from August. Total contracted sales income for the first nine months was around 21.663 billion yuan, up 17 per cent from last year. (SingTao Daily B3)
Kaisa Group Holdings (1638 HK) recorded contracted sales of 626 million yuan in Sep, up 74 per cent. Sales area amounted to around 69,845m at 8,965 yuan per meter on average. Contracted sales reached around 6.94 billion yuan for the first 9 months. Contracted sales area amounted to around 585,000m at 11,865 per meter on average. (Hong Kong Economic Journal P11)
Lijun International Pharmaceutical (2005 HK) shareholder Wide Luck plans to place 100 million option shares, around 4.07 per cent of the total issued share capital as enlarged, at HK$2.9 per share, a discount of about 4.61 per cent to the closing price of HK$3.04 per share on 30 Sep, the last trading day before the issue. The company expects the placing to be completed on 7 Oct. (Hong Kong Economic Times A14)
New World Department Store (825 HK) China saw net profit grow 5.5 per cent to 577.6 million yuan for the year ended Jun 30. A final dividend of 7 HK cents per share was recommended. The company is also planning to acquire properties in Shenyang from New World China Land (0917) for over 456 million yuan. (SingTao Daily B3)
Goldman Sachs raises rating on Sands China (1928 HK) from Neutral to Buy. It expects gaming income in Macau to go up 50 per cent yoy to 22 billion dollars this year. It expects the growth of gaming income in Macau will slow down in Q4. (Hong Kong Economic Journal P6)
Vitop Bioenergy (1178 HK) plans to issue HK$30 million worth convertible notes at coupon rate of 3 per cent per annum due 18 months at a price of HK$0.25 per conversion share. A total of 120 million conversion shares will be issued upon full conversion of the convertible notes, which represents around 12 per cent of the enlarged issued share capital. The estimated net proceeds of around HK$29.8 million will be used for the general working capital. (SingTao Daily B2)
Z-Obee (948 HK) announces that it has submitted application to Taiwan authorities for a TDR issue. The company has yet to obtain the required approval from the Taiwan Securities and Futures Bureau for the offering and listing of the TDRs on the Taiwan Stock Exchange. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, October 4, 2010
Hong Kong Stock Market Wrap September 30th, 2010
Beijing Capital Land (2868 HK) recorded 1.4 billion yuan of sales last month, up 32 per cent mom. Contracted sales area amounted to 160,000m. Contracted sales reached 7.3 billion yuan for the first 9 months, 73 per cent of the full-year target. (Hong Kong Economic Journal P7)
China State Construction International (3311 HK) will buy from China Overseas Land & Investment (0688) 65 per cent equity interest in Nanjing Changjiang Second Bridge Company at HK$1.69 billion and 15 per cent interest of a residential property project at Newly Reclaimed Land at Outer Harbour, Macau at HK$264 million. (Hong Kong Economic Times A12)
Minmetals Land (230 HK) enters into a cooperation agreement with a vendor and Boluo County Bihua Property Development. It conditionally agrees to buy, in stages, 80 per cent of the equity interests of Boluo County Bihua Property Development at consideration of not more than HK$867 million. (Hong Kong Economic Journal P6)
Sewco International (209 HK) plans to place new shares and 2 per cent 3-yr convertible bonds to the market and substantial shareholders to raise up to HK$1.665 billion. (SingTao Daily B12)
Shui On Land (272 HK) acquires a piece of land at west of Sheng Hong Road, south of Su Hong Road, east of Sheng Chang Road and north of Zhou Hong Road, Hongqiao District, Shanghai at 3.188 billion yuan. The land is a mixed-use development project with a net site area of around 62,300 sqm and an estimated developable above ground GFA of about 233,140 sqm, linked to the Hongqiao Transportation Hub. The hub is expected to become an important economic center of the Yangtze Delta, linking Shanghai to the rest of the country.
Citigroup sets Buy rating on China Longyuan Power Group (916 HK) for the first time, with target price at HK$9.7. It expects the annual growth of its earnings per share to reach 36 per cent. (Hong Kong Economic Times A12)
HSBC (5 HK) has issued 50 million yuan of 2.1 per cent 10-yr Uridashi bonds in Europe. Uridashi bonds are bonds issued by non-Japanese companies and sold to Japanese individual investors. HSBC’s issue of yuan Uridashi bonds reflects the demand for yuan products from Japanese investors. (Hong Kong Economic Times A12)
IPO: AIA has reportedly signed with several cornerstone investors in relation to the sale of shares, representing 20-25 per cent of its IPO amount. The underwriting team will confirm range of offer price today and launch large-scale investor presentation on Wednesday. The roadshow will be launched tomorrow, lasting for about three weeks. AIA will go public on Oct 18 (Mon).
IPO: Markets sources say that Springland Department Stores will be priced at HK$4.85 to HK$5.93 per share, equivalent to around 18.8-23 times its forecast PE ratio in 2011. It plans to raise HK$3.03-3.71 billion by selling 625 million shares. IPO of Springland will be kicked off on Friday and listing date is Oct 21. (Hong Kong Economic Times A14)
Besunyen (926 HK) announces that the over-allotment option was fully exercised by the joint global coordinators on October 1, 2010 to require the major shareholder to sell 63.042 million shares, representing 15 per cent of the offer shares available under the global offering. Besunyen will raise HK$196.69 million additionally. (SingTao Daily B14)
China Mining Resources Group (340 HK) aims to buy 70 per cent equity interest in Year Joy Investments Limited for HK$1.386 billion. The consideration will be satisfied by cash, issue of consideration shares and convertible preference shares. Year Joy is an investment company holding equity interest in China iTV Network Co., Ltd. (SingTao Daily B16)
Evergrande (3333 HK) achieved rosy results for the first three quarters this year, with selling areas of 5.97 million square meters, 90,000 square meters more than its rival Vanke, and ranking first in sales areas among mainland developers. Evergrande also ranked first in sales areas for the first three quarters of 2009 and the first half of 2010. (SingTao Daily B14)
Although mainland property curbs are about to introduce, Shenzhen-based Kaisa Group (1638 HK) said prices of its new flats are always lower than market prices, so the new policy will not have impact on its sales. The developer also expects contract sales amount to reach 20 billion yuan in 2012, increasing by 100 per cent over its 2010 sales target. (Hong Kong Economic Journal P10)
Maoye International plans (848 HK) to acquire 80 per cent equity interest in Shandong Zibo Sugar Wine Co., Ltd. for a total consideration of 388 million yuan. The target company holds Zibo Jindi Shopping Plaza Co., Ltd. and five plots of land with a total area of 56,100 square meters.(SingTao Daily B14)
Sino Prosper State Gold Resources (766 HK) expects the total area covered by the Inner Mongolian gold mine project to increase to 6 sq km from current 2.1 sq km. The company also discloses that the local government has approved mining rights for expanding the mining area. (SingTao Daily B14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China State Construction International (3311 HK) will buy from China Overseas Land & Investment (0688) 65 per cent equity interest in Nanjing Changjiang Second Bridge Company at HK$1.69 billion and 15 per cent interest of a residential property project at Newly Reclaimed Land at Outer Harbour, Macau at HK$264 million. (Hong Kong Economic Times A12)
Minmetals Land (230 HK) enters into a cooperation agreement with a vendor and Boluo County Bihua Property Development. It conditionally agrees to buy, in stages, 80 per cent of the equity interests of Boluo County Bihua Property Development at consideration of not more than HK$867 million. (Hong Kong Economic Journal P6)
Sewco International (209 HK) plans to place new shares and 2 per cent 3-yr convertible bonds to the market and substantial shareholders to raise up to HK$1.665 billion. (SingTao Daily B12)
Shui On Land (272 HK) acquires a piece of land at west of Sheng Hong Road, south of Su Hong Road, east of Sheng Chang Road and north of Zhou Hong Road, Hongqiao District, Shanghai at 3.188 billion yuan. The land is a mixed-use development project with a net site area of around 62,300 sqm and an estimated developable above ground GFA of about 233,140 sqm, linked to the Hongqiao Transportation Hub. The hub is expected to become an important economic center of the Yangtze Delta, linking Shanghai to the rest of the country.
Citigroup sets Buy rating on China Longyuan Power Group (916 HK) for the first time, with target price at HK$9.7. It expects the annual growth of its earnings per share to reach 36 per cent. (Hong Kong Economic Times A12)
HSBC (5 HK) has issued 50 million yuan of 2.1 per cent 10-yr Uridashi bonds in Europe. Uridashi bonds are bonds issued by non-Japanese companies and sold to Japanese individual investors. HSBC’s issue of yuan Uridashi bonds reflects the demand for yuan products from Japanese investors. (Hong Kong Economic Times A12)
IPO: AIA has reportedly signed with several cornerstone investors in relation to the sale of shares, representing 20-25 per cent of its IPO amount. The underwriting team will confirm range of offer price today and launch large-scale investor presentation on Wednesday. The roadshow will be launched tomorrow, lasting for about three weeks. AIA will go public on Oct 18 (Mon).
IPO: Markets sources say that Springland Department Stores will be priced at HK$4.85 to HK$5.93 per share, equivalent to around 18.8-23 times its forecast PE ratio in 2011. It plans to raise HK$3.03-3.71 billion by selling 625 million shares. IPO of Springland will be kicked off on Friday and listing date is Oct 21. (Hong Kong Economic Times A14)
Besunyen (926 HK) announces that the over-allotment option was fully exercised by the joint global coordinators on October 1, 2010 to require the major shareholder to sell 63.042 million shares, representing 15 per cent of the offer shares available under the global offering. Besunyen will raise HK$196.69 million additionally. (SingTao Daily B14)
China Mining Resources Group (340 HK) aims to buy 70 per cent equity interest in Year Joy Investments Limited for HK$1.386 billion. The consideration will be satisfied by cash, issue of consideration shares and convertible preference shares. Year Joy is an investment company holding equity interest in China iTV Network Co., Ltd. (SingTao Daily B16)
Evergrande (3333 HK) achieved rosy results for the first three quarters this year, with selling areas of 5.97 million square meters, 90,000 square meters more than its rival Vanke, and ranking first in sales areas among mainland developers. Evergrande also ranked first in sales areas for the first three quarters of 2009 and the first half of 2010. (SingTao Daily B14)
Although mainland property curbs are about to introduce, Shenzhen-based Kaisa Group (1638 HK) said prices of its new flats are always lower than market prices, so the new policy will not have impact on its sales. The developer also expects contract sales amount to reach 20 billion yuan in 2012, increasing by 100 per cent over its 2010 sales target. (Hong Kong Economic Journal P10)
Maoye International plans (848 HK) to acquire 80 per cent equity interest in Shandong Zibo Sugar Wine Co., Ltd. for a total consideration of 388 million yuan. The target company holds Zibo Jindi Shopping Plaza Co., Ltd. and five plots of land with a total area of 56,100 square meters.(SingTao Daily B14)
Sino Prosper State Gold Resources (766 HK) expects the total area covered by the Inner Mongolian gold mine project to increase to 6 sq km from current 2.1 sq km. The company also discloses that the local government has approved mining rights for expanding the mining area. (SingTao Daily B14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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