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
