IPO: Zoomlion Heavy Industry Science & Technology reportedly plans to issue up to 1 billion H shares to raise around US$1.5 billion. CICC, Goldman Sachs and JP Morgan are sponsoring the IPO. (Hong Kong Economic Journal P2)
it is said that Biostime (1112 HK) will open its retail book on 3 Dec. It plans to issue 150 million new shares at between HK$10 and 12 each. Maximum offer price a lot of 500 shares is around HK$6060.48. (Hong Kong Economic Journal P2)
Bosideng International (3998 HK) recorded a net profit of 110 million yuan for the half-year period ended Sep 30, soaring 81 per cent. Earnings per share was 1.42 fen. An interim dividend of 6.5 fen per share was declared. (SingTao Daily B2)
Café De Coral (341 HK) saw first-half net profit edging up 1 per cent to HK$220 million. Earnings per share amounted 39.94 HK cents. An interim dividend of 17 HK cents per share was maintained. To celebrate its 25th anniversary of listing next year, the company will consider declaring a special dividend. (SingTao Daily B4)
China New Materials (1887 HK) is set to list in HK on 13 Dec. Offer price is between HK$2.33 and 3.33 a share. OZ and China Life Insurance (2628) reportedly have subscribed for the shares. (Hong Kong Economic Journal P2)
Chow Sang Sang (116 HK) Holdings International says the Beijing AIC’s finding that a 18-karat gold bracelet at its sales point in Beijing did not meet the standard on gold content is an isolated incident. It has already withdrawn the bracelets and other products of the same batch provided by the relevant supplier from sale and has offered an option to refund to customers that have purchased 18-karat gold bracelets from it in China. (Hong Kong Economic Times A12)
Bridas, 50%/50% owned by each of CNOOC (883 HK) and Bridas Energy, will acquire from BP 60 per cent equity interest in Pan American Energy for a total consideration of US$7.06 billion. 70 per cent of the consideration will be contributed by CNOOC and Bridas Energy. Each of them will pay US$2.47 billion. (Hong Kong Economic Journal P6)
Asia Standard International Group (129 HK) posted interim net profit of 1.397 billion, up 25 per cent. Interim dividend of 0.5 cent was declared. (Hong Kong Economic Journal P12)
Golden Meditech Holdings (801 HK) had a sharp increase of 2.44 times to HK$166 million in net profit for the six months ended Sep 30. Earnings per share amounted to 9.83 HK cents. No interim dividend was distributed. (SingTao Daily B2)
Hung Hing Printing Group (450 HK) saw interim net profit rising 28 per cent year on year to HK$129 million for the six months ended Sep 30. Earnings per share was 14.3 HK cents. An interim dividend along with a special dividend totalled 22 HK cents per share. (SingTao Daily B2)
Johnson Electric Holdings (179 HK) booked a net profit of US$92.88 million (around HK$720 million) for the six months ended Sep 30, shooting up 535 per cent. Earnings per share amounted to 2.54 US cents and an interim dividend of 3 HK cents per share was declared. (SingTao Daily B2)
L’occitane International (973 HK) posted a net profit of almost €30 million (around HK$308 million) for the half year ended Sep 30, up over 19 per cent year on year. Earnings per share was €0.021. No interim dividend was paid. The company expects to increase by 62 branch stores in the second half. (SingTao Daily B4)
Moiselle International (130 HK) posted a 1.45-time growth in net profit to HK$17 million for the half-year ended Sep 30. An interim dividend of 4 HK cents per share was distributed. (SingTao Daily B2)
Silver Base Group (886 HK) booked net profit of HK$215 million for the 6 months ended 30 Sep, up 26.1 per cent yoy. EPS was 18.08 HK cents, up 25.9 per cent yoy. It has declared an interim dividend of HK$0.169 a share. It entered into a LOI yesterday to acquire 35 per cent equity interest in Jilin Daquanyuan. (Hong Kong Economic Times A10)
The corporate business division of Bank of East Asia (23 HK) grew substantially this year, driving net profit at the end of Sep to surge 75 per cent from what it was at the year-end of 2009. The lender expects monetary tightening in China to continue boosting SAR loan deals in the first half next year. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, November 30, 2010
Monday, November 29, 2010
Hong Kong Stock Market Wrap November 26th, 2010
Chen Hsong Holdings (57 HK) saw net profit go up nearly 3.9 times yoy to HK$225 million for the 6 months ended 30 Sep. EPS was HK35.8 cents. The company has resolved to declare an interim dividend of 8 HK cents a share. (SingTao Daily B3)
China Modern Dairy (1117 HK) closed at HK$2.51 on its debut, down 13.15 per cent over the offer price of HK$2.89. Not taking charges into account, holding a lot of 1000 shares generated a paper loss of HK$380. (Hong Kong Economic Times A8)
China Water Affairs Group (855 HK) booked net profit of HK$271 million for the 6 months ended 30 Sep, up almost 20 per cent yoy. EPS was HK$0.2. It has resolved to declare an interim dividend of HK$0.02 per share. As at 30 Sep, it has total cash and bank balances of around HK$800 million. (SingTao Daily B4)
Fantasia Holdings Group (1777 HK) will cooperate and jointly develop a tourism and vacation resort in Jinmen, Taiwan with Astro Corporation, conditional upon the completion of a proposed TDR issue. It expects if proceeding with the issue, it will utilize part of the proceeds being TWD1.2 billion and invest in the resort. (Hong Kong Economic Journal P8)
Far East Hotels (497 HK) And Entertainment lost HK$7.19 million for the 6 months ended 30 Sep, as compared to the profit of HK$2.83 million in the same period last year. It has resolved not to declare any interim dividend in respect of the period. (Hong Kong Economic Journal P8)
Joyce Boutique (647 HK) posted profit attributable to shareholders of HK$40.4 million for the 6 months ended 30 Sep, surging 901.6 per cent yoy. EPS amounted to 2.5 HK cents. It has resolved not to declare any interim dividend. Turnover reached HK$524 million, up 6.5 per cent yoy. (Hong Kong Economic Times A8)
World Wide Touch Technology (1282 HK) has kicked off roadshow. It plans to issue 861 million shares at between HK$0.85 and 1.05 a share. Sources say that it is to raise funds for upgrading production equipment, enhancing R&D and setting up more production facilities, etc. (Hong Kong Economic Journal P5)
Agritrade Resources’ (1131 HK) profit attributable to equity holders for the six months ended Sep 30 was HK$65.184 million. Earnings per share amounted to 12.7 HK cents. No interim dividend was paid. (SingTao Daily B3)
Chevalier International (25 HK) saw a five-fold growth to HK$513 million in interim profit ended Sep 30. Earnings per share was HK$1.85. An interim dividend of HK$0.2 per share and a special dividend of HK$0.4 apiece were declared. Chevalier Pacific Holdings (0508) posted a profit of HK$162 million in the period, up 244 times. Earnings per share was 7 HK cents. No dividend was paid. (SingTao Daily B3)
China Railsmedia’s (745 HK) loss for the half year ended Sep 30 narrowed by 10 per cent to HK$18.3 million. Loss per share amounted to 1.18 HK cents. No dividend was declared. (SingTao Daily B3)
Far East Consortium International (35 HK) posted a net profit of HK$187 million for the six-month period ended Sep 30, rising 10 per cent. Earnings per share amounted to 9.8 HK cents and an interim dividend of 2 HK cents per share was declared. Turnover in the period totaled HK$782 million, tumbling 44 per cent year on year. (Hong Kong Economic Journal P4)
PetroAsian Energy Holdings’ (850 HK) loss for the half year ended Sep 30 narrowed by 25 per cent to HK$76.35 million. Loss per share was 2 HK cents. No dividend was distributed. (SingTao Daily B3)
Strong Petrochemical (852 HK) posted a profit of HK$123 million for the six months ended Sep 30, soaring 30 per cent. Earnings per share amounted to 8 HK cents. No interim dividend was declared. (SingTao Daily B3)
Thunder Sky Battery (729 HK) had a loss of HK$106 million in interim results ended Sep 30, diving 162 times. Loss per share amounted to 33.8 HK cents. No dividend was distributed. (SingTao Daily B3)
Walker Group (1386 HK) recorded a net profit of HK$1.3 million for the six months ended Sep 30, returning to the black. It booked a loss of HK$28 million over the same period last year. Turnover during the period lifted 15.8 per cent to HK$551 million, while same-store sales in the mainland went up 7.9 percentage points year on year to 12 per cent. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Modern Dairy (1117 HK) closed at HK$2.51 on its debut, down 13.15 per cent over the offer price of HK$2.89. Not taking charges into account, holding a lot of 1000 shares generated a paper loss of HK$380. (Hong Kong Economic Times A8)
China Water Affairs Group (855 HK) booked net profit of HK$271 million for the 6 months ended 30 Sep, up almost 20 per cent yoy. EPS was HK$0.2. It has resolved to declare an interim dividend of HK$0.02 per share. As at 30 Sep, it has total cash and bank balances of around HK$800 million. (SingTao Daily B4)
Fantasia Holdings Group (1777 HK) will cooperate and jointly develop a tourism and vacation resort in Jinmen, Taiwan with Astro Corporation, conditional upon the completion of a proposed TDR issue. It expects if proceeding with the issue, it will utilize part of the proceeds being TWD1.2 billion and invest in the resort. (Hong Kong Economic Journal P8)
Far East Hotels (497 HK) And Entertainment lost HK$7.19 million for the 6 months ended 30 Sep, as compared to the profit of HK$2.83 million in the same period last year. It has resolved not to declare any interim dividend in respect of the period. (Hong Kong Economic Journal P8)
Joyce Boutique (647 HK) posted profit attributable to shareholders of HK$40.4 million for the 6 months ended 30 Sep, surging 901.6 per cent yoy. EPS amounted to 2.5 HK cents. It has resolved not to declare any interim dividend. Turnover reached HK$524 million, up 6.5 per cent yoy. (Hong Kong Economic Times A8)
World Wide Touch Technology (1282 HK) has kicked off roadshow. It plans to issue 861 million shares at between HK$0.85 and 1.05 a share. Sources say that it is to raise funds for upgrading production equipment, enhancing R&D and setting up more production facilities, etc. (Hong Kong Economic Journal P5)
Agritrade Resources’ (1131 HK) profit attributable to equity holders for the six months ended Sep 30 was HK$65.184 million. Earnings per share amounted to 12.7 HK cents. No interim dividend was paid. (SingTao Daily B3)
Chevalier International (25 HK) saw a five-fold growth to HK$513 million in interim profit ended Sep 30. Earnings per share was HK$1.85. An interim dividend of HK$0.2 per share and a special dividend of HK$0.4 apiece were declared. Chevalier Pacific Holdings (0508) posted a profit of HK$162 million in the period, up 244 times. Earnings per share was 7 HK cents. No dividend was paid. (SingTao Daily B3)
China Railsmedia’s (745 HK) loss for the half year ended Sep 30 narrowed by 10 per cent to HK$18.3 million. Loss per share amounted to 1.18 HK cents. No dividend was declared. (SingTao Daily B3)
Far East Consortium International (35 HK) posted a net profit of HK$187 million for the six-month period ended Sep 30, rising 10 per cent. Earnings per share amounted to 9.8 HK cents and an interim dividend of 2 HK cents per share was declared. Turnover in the period totaled HK$782 million, tumbling 44 per cent year on year. (Hong Kong Economic Journal P4)
PetroAsian Energy Holdings’ (850 HK) loss for the half year ended Sep 30 narrowed by 25 per cent to HK$76.35 million. Loss per share was 2 HK cents. No dividend was distributed. (SingTao Daily B3)
Strong Petrochemical (852 HK) posted a profit of HK$123 million for the six months ended Sep 30, soaring 30 per cent. Earnings per share amounted to 8 HK cents. No interim dividend was declared. (SingTao Daily B3)
Thunder Sky Battery (729 HK) had a loss of HK$106 million in interim results ended Sep 30, diving 162 times. Loss per share amounted to 33.8 HK cents. No dividend was distributed. (SingTao Daily B3)
Walker Group (1386 HK) recorded a net profit of HK$1.3 million for the six months ended Sep 30, returning to the black. It booked a loss of HK$28 million over the same period last year. Turnover during the period lifted 15.8 per cent to HK$551 million, while same-store sales in the mainland went up 7.9 percentage points year on year to 12 per cent. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, November 26, 2010
Hong Kong Stock Market Wrap November 25th, 2010
Asia Commercial Holdings (104 HK) says that its profit before tax amounted to HK$41 million for the six months ended Sep 30, shooting up 105 per cent over the same period last year. Sales volume during the period reached HK$460 million, rising 36 per cent from last year. Basic earnings per share was 1.25 HK cents. An interim dividend of 0.2 HK cent was recommended. (SingTao Daily B4)
Bauhaus International (483 HK) saw interim net profit soaring 34.5 per cent to HK$26 million for the period ending Sep 30. Turnover in the period went up 17.8 per cent to HK$380 million. Earnings per share was 6.4 HK cents. An interim dividend of 2 HK cents per share was distributed, unchanged from a year ago. (SingTao Daily B4)
China Modern Dairy (1117 HK) shares closed at HK$2.79 in the gray market, 3.45 per cent lower than the offer price of HK$2.89 each. Shareholders lost HK$100 for a board lot. (Hong Kong Economic Times A2)
Chun Wo Development (711 HK) booked turnover of HK$1.226 billion for the 6 months ended 30 Sep, up 3 per cent yoy. Net profit fell 82 per cent yoy to HK$5.61 million. EPS was 0.61 HK cent. No interim dividend was declared. The company recorded a loss of HK$18.2 million from the disposal of worker quarters under construction in progress for property developments in Abu Dhabi, UAE. (Hong Kong Economic Journal P16)
Fairwood Holdings (52 HK) posted a net profit of HK$70.7 million for the first half ended Sep 30, leaping 43.4 per cent. Revenue in the period rose 4.4 per cent to HK$811 million. Earnings per share amounted to 56.25 HK cents. An interim dividend of 20 HK cents per share and a special one of 8 HK cents apiece were declared. (SingTao Daily B4)
Forefront Group (885 HK) proposes, after reorganization, to implement a rights issue on the basis of 8 rights shares for every adjusted share held at HK$0.125 a rights share, whereby raising HK$406 million by issuing 3.25 billion- 4.1 billion shares. (Hong Kong Economic Journal P8)
Kingworld Medicines Group (1110 HK) shares closed at HK$2.05 yesterday, 28.1 per cent higher than the offer price of HK$1.6 a share. Not taking charges into account, holding a lot generated a paper gain of HK$1800. (Hong Kong Economic Times A2)
Media Chinese International (685 HK) had a net profit of US$27.33 million, surging over 86 per cent. An interim dividend of 0.8 US cent per share was proposed, leaping over 77 per cent year on year. (SingTao Daily B4)
Mingfa Group (International) (846 HK) will issue convertible bonds in the aggregate principal amount of around HK$1.55 billion due 2015 to private equity Warburg Pincus to raise around HK$1.547 billion. The bonds are convertible into shares at HK$2.9 a share, a 16.47 per cent premium to yesterday’s closing price. (Hong Kong Economic Journal P16)
OP Financial Investments (1140 HK) suffered a loss of HK$137 million for the six months ended Sep 30, sinking into the red. No interim dividend was recommended. (SingTao Daily B4)
Pacific Textiles (1382 HK) booked a net profit of HK$453.42 million for the six-month period ended Sep 30, rising 16.7 per cent. An interim dividend of 14 HK cents was proposed. (SingTao Daily B4)
Sihuan Pharmaceutical’s (460 HK) wholly-owned subsidiary Sun Moral has conditionally agreed to purchase from JSAB Investment the entire equity interest in Dupromise Holdings. Total consideration is based on the 2011 audited net income multiplied by 12, being no more than 2.4 billion yuan. (Hong Kong Economic Journal P4)
Suga International (912 HK) recorded a net profit of HK$40.5 million for the six-month period ended Sep 30, soaring 61.2 per cent year on year. An interim dividend of 5 HK cents per share was recommended, leaping 25 per cent over the same period last year. (SingTao Daily B4)
Tai Cheung Holdings (88 HK) saw interim net surging 111 per cent to HK$389.3 million ended Sep 30. An interim dividend of 11 HK cents per share was distributed, unchanged from the previous year. (SingTao Daily B4)
TPV Technology (903 HK) recorded Q3 net profit of US$31.96 million, down 19.1 per cent yoy, down 20 per cent qoq. Revenue amounted to US$2.95 billion, up 30.4 per cent yoy, down 3.7 per cent qoq. GP margin was 5 per cent, down 0.3pps yoy, down 0.2pps qoq. (Hong Kong Economic Journal P12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bauhaus International (483 HK) saw interim net profit soaring 34.5 per cent to HK$26 million for the period ending Sep 30. Turnover in the period went up 17.8 per cent to HK$380 million. Earnings per share was 6.4 HK cents. An interim dividend of 2 HK cents per share was distributed, unchanged from a year ago. (SingTao Daily B4)
China Modern Dairy (1117 HK) shares closed at HK$2.79 in the gray market, 3.45 per cent lower than the offer price of HK$2.89 each. Shareholders lost HK$100 for a board lot. (Hong Kong Economic Times A2)
Chun Wo Development (711 HK) booked turnover of HK$1.226 billion for the 6 months ended 30 Sep, up 3 per cent yoy. Net profit fell 82 per cent yoy to HK$5.61 million. EPS was 0.61 HK cent. No interim dividend was declared. The company recorded a loss of HK$18.2 million from the disposal of worker quarters under construction in progress for property developments in Abu Dhabi, UAE. (Hong Kong Economic Journal P16)
Fairwood Holdings (52 HK) posted a net profit of HK$70.7 million for the first half ended Sep 30, leaping 43.4 per cent. Revenue in the period rose 4.4 per cent to HK$811 million. Earnings per share amounted to 56.25 HK cents. An interim dividend of 20 HK cents per share and a special one of 8 HK cents apiece were declared. (SingTao Daily B4)
Forefront Group (885 HK) proposes, after reorganization, to implement a rights issue on the basis of 8 rights shares for every adjusted share held at HK$0.125 a rights share, whereby raising HK$406 million by issuing 3.25 billion- 4.1 billion shares. (Hong Kong Economic Journal P8)
Kingworld Medicines Group (1110 HK) shares closed at HK$2.05 yesterday, 28.1 per cent higher than the offer price of HK$1.6 a share. Not taking charges into account, holding a lot generated a paper gain of HK$1800. (Hong Kong Economic Times A2)
Media Chinese International (685 HK) had a net profit of US$27.33 million, surging over 86 per cent. An interim dividend of 0.8 US cent per share was proposed, leaping over 77 per cent year on year. (SingTao Daily B4)
Mingfa Group (International) (846 HK) will issue convertible bonds in the aggregate principal amount of around HK$1.55 billion due 2015 to private equity Warburg Pincus to raise around HK$1.547 billion. The bonds are convertible into shares at HK$2.9 a share, a 16.47 per cent premium to yesterday’s closing price. (Hong Kong Economic Journal P16)
OP Financial Investments (1140 HK) suffered a loss of HK$137 million for the six months ended Sep 30, sinking into the red. No interim dividend was recommended. (SingTao Daily B4)
Pacific Textiles (1382 HK) booked a net profit of HK$453.42 million for the six-month period ended Sep 30, rising 16.7 per cent. An interim dividend of 14 HK cents was proposed. (SingTao Daily B4)
Sihuan Pharmaceutical’s (460 HK) wholly-owned subsidiary Sun Moral has conditionally agreed to purchase from JSAB Investment the entire equity interest in Dupromise Holdings. Total consideration is based on the 2011 audited net income multiplied by 12, being no more than 2.4 billion yuan. (Hong Kong Economic Journal P4)
Suga International (912 HK) recorded a net profit of HK$40.5 million for the six-month period ended Sep 30, soaring 61.2 per cent year on year. An interim dividend of 5 HK cents per share was recommended, leaping 25 per cent over the same period last year. (SingTao Daily B4)
Tai Cheung Holdings (88 HK) saw interim net surging 111 per cent to HK$389.3 million ended Sep 30. An interim dividend of 11 HK cents per share was distributed, unchanged from the previous year. (SingTao Daily B4)
TPV Technology (903 HK) recorded Q3 net profit of US$31.96 million, down 19.1 per cent yoy, down 20 per cent qoq. Revenue amounted to US$2.95 billion, up 30.4 per cent yoy, down 3.7 per cent qoq. GP margin was 5 per cent, down 0.3pps yoy, down 0.2pps qoq. (Hong Kong Economic Journal P12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, November 25, 2010
Hong Kong Stock Market Wrap November 24th, 2010
Air China (753 HK) completed its plan to issue new A shares and new H shares yesterday. Through the H share issue, it raised 1.04 billion; through the A share issue, it raised 5.6 billion yuan. (Hong Kong Economic Times A12)
Li Ka Shing increased stakes in Cheung Kong (Holdings) (1 HK) by 273,000 shares or 0.01 per cent at HK$116.464 each on 22 Nov, involving HK$31.79 million, taking his shareholding in the company to 42.36 per cent. (Hong Kong Economic Times A2)
Chinney Investments (216 HK) posted profit attributable to owners of HK$32.02 million for the 6 months ended 30 Sep, down 83 per cent yoy. EPS was 5.81 HK cents. It did not recommend the payment of an interim dividend. (Hong Kong Economic Journal P12)
Emperor Entertainment Hotel (296 HK) booked net profit of HK$170 million for the 6 months ended 30 Sep, surging 232 per cent. EPS amounted to HK$0.13. It recommended to pay an interim dividend of HK$0.04 a share. (Hong Kong Economic Journal P12)
Emperor International (163 HK) saw interim net profit surging 2.316 times to HK$170 million. Earnings per share amounted to 13 HK cents, soaring 160 per cent year on year. An interim dividend of 4 HK cents per share was recommended, up almost 60 per cent over the same period of the previous year. (SingTao Daily B3)
Golden Resources (677 HK) booked a net profit of HK$95.59 million for the six-month period ended Sep 30, plunging around 40 per cent year on year. An interim dividend of 1.2 HK cents per share was distributed. (SingTao Daily B4)
GR Vietnam Holdings (139 HK) booked a loss of around HK$53 million for the six months ended Sep 30. The company lost over HK$33 million in the same period a year ago. Loss per share was 1.75 HK cents. No dividend was distributed. (SingTao Daily B4)
Hon Kwok Land Investment (160 HK) saw profit attributable to owners go down 73 per cent yoy to HK$76.14 million for the 6 months ended 30 Sep. EPS was 15.85 HK cents. No dividend will be paid. (Hong Kong Economic Journal P12)
Meike International Holdings (953 HK) has agreed to place not more than 157.5 million shares at HK$1.89 a share to raise around HK$290 million. The shares will represent around 13.18 per cent of its issued share capital as enlarged. (Hong Kong Economic Times A12)
Proview International (334 HK) announces that the Shenzhen Intermediate People’s Court has issued judgments and granted enforcement orders against the company in relation to the claims made by several banks for loans of about HKD566 million. Thus, the majority of the total assets of the company are frozen for settlement of the claims, which further put the company into a more difficult position. (SingTao Daily B4)
Samson Paper Holdings (731 HK) posed a profit attributable to equity holders of HK$34.71 million for the six months ended Sep 30, leaping 15.12 per cent over the same period last year. Earnings per share was 6.9 HK cents. An interim dividend of 1 HK cent per share was recommended. (SingTao Daily B4)
Sincere Watch (444 HK) gained around HK$33 million for the six months ended Sep 30, while a loss of about HK$28 million was recorded over the same period last year. Earnings per share was 8.1 HK cents. No dividend was paid. (SingTao Daily B4)
Sparkle Roll Group (970 HK) posted a net profit of HK$32.6 million for the six-month period ended Sep 30, declining 8.6 per cent year on year. Earnings per share amounted to 1.2 HK cents. An interim dividend of 0.3 HK cent was declared. (SingTao Daily B4)
Sundart International Holdings (2288 HK) recorded profit attributable to owners of HK$72 million for the 6 months ended 30 Sep, down 40 per cent yoy. It declared an interim dividend of 6.5 HK cents a share. Remaining value of contracts to be completed was estimated to be around HK$1.32 billion. (Hong Kong Economic Journal P10)
Yangtzekiang Garment (294 HK) recorded a net profit of around HK$29 million for the six months ended Sep 30, soaring 11.96 times year on year. Earnings per share amounted to 14 HK cents. An interim dividend of 2 HK cents was declared. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Li Ka Shing increased stakes in Cheung Kong (Holdings) (1 HK) by 273,000 shares or 0.01 per cent at HK$116.464 each on 22 Nov, involving HK$31.79 million, taking his shareholding in the company to 42.36 per cent. (Hong Kong Economic Times A2)
Chinney Investments (216 HK) posted profit attributable to owners of HK$32.02 million for the 6 months ended 30 Sep, down 83 per cent yoy. EPS was 5.81 HK cents. It did not recommend the payment of an interim dividend. (Hong Kong Economic Journal P12)
Emperor Entertainment Hotel (296 HK) booked net profit of HK$170 million for the 6 months ended 30 Sep, surging 232 per cent. EPS amounted to HK$0.13. It recommended to pay an interim dividend of HK$0.04 a share. (Hong Kong Economic Journal P12)
Emperor International (163 HK) saw interim net profit surging 2.316 times to HK$170 million. Earnings per share amounted to 13 HK cents, soaring 160 per cent year on year. An interim dividend of 4 HK cents per share was recommended, up almost 60 per cent over the same period of the previous year. (SingTao Daily B3)
Golden Resources (677 HK) booked a net profit of HK$95.59 million for the six-month period ended Sep 30, plunging around 40 per cent year on year. An interim dividend of 1.2 HK cents per share was distributed. (SingTao Daily B4)
GR Vietnam Holdings (139 HK) booked a loss of around HK$53 million for the six months ended Sep 30. The company lost over HK$33 million in the same period a year ago. Loss per share was 1.75 HK cents. No dividend was distributed. (SingTao Daily B4)
Hon Kwok Land Investment (160 HK) saw profit attributable to owners go down 73 per cent yoy to HK$76.14 million for the 6 months ended 30 Sep. EPS was 15.85 HK cents. No dividend will be paid. (Hong Kong Economic Journal P12)
Meike International Holdings (953 HK) has agreed to place not more than 157.5 million shares at HK$1.89 a share to raise around HK$290 million. The shares will represent around 13.18 per cent of its issued share capital as enlarged. (Hong Kong Economic Times A12)
Proview International (334 HK) announces that the Shenzhen Intermediate People’s Court has issued judgments and granted enforcement orders against the company in relation to the claims made by several banks for loans of about HKD566 million. Thus, the majority of the total assets of the company are frozen for settlement of the claims, which further put the company into a more difficult position. (SingTao Daily B4)
Samson Paper Holdings (731 HK) posed a profit attributable to equity holders of HK$34.71 million for the six months ended Sep 30, leaping 15.12 per cent over the same period last year. Earnings per share was 6.9 HK cents. An interim dividend of 1 HK cent per share was recommended. (SingTao Daily B4)
Sincere Watch (444 HK) gained around HK$33 million for the six months ended Sep 30, while a loss of about HK$28 million was recorded over the same period last year. Earnings per share was 8.1 HK cents. No dividend was paid. (SingTao Daily B4)
Sparkle Roll Group (970 HK) posted a net profit of HK$32.6 million for the six-month period ended Sep 30, declining 8.6 per cent year on year. Earnings per share amounted to 1.2 HK cents. An interim dividend of 0.3 HK cent was declared. (SingTao Daily B4)
Sundart International Holdings (2288 HK) recorded profit attributable to owners of HK$72 million for the 6 months ended 30 Sep, down 40 per cent yoy. It declared an interim dividend of 6.5 HK cents a share. Remaining value of contracts to be completed was estimated to be around HK$1.32 billion. (Hong Kong Economic Journal P10)
Yangtzekiang Garment (294 HK) recorded a net profit of around HK$29 million for the six months ended Sep 30, soaring 11.96 times year on year. Earnings per share amounted to 14 HK cents. An interim dividend of 2 HK cents was declared. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, November 24, 2010
Hong Kong Stock Market Wrap November 23rd, 2010
BaWang International (Group) Holding (1338 HK) expects its turnover from Jul to Oct to go down 31 per cent yoy and 2010 results to decline substantially because of the “dioxane incident” in Jul. Shares went down almost 6 per cent to HK$3.15 yesterday. (Hong Kong Economic Times A14)
CCT Telecom (138 HK) has agreed to sell 700 million CCT Resources (8163) shares to Merdeka Commodities at HK$67.9 million. Price per share is HK$0.097. Its interest in CCT Resources will be reduced from 38.13 per cent to 24.99 per cent. (Hong Kong Economic Journal P14)
China Dongxiang’s (3818 HK) indirect wholly owned subsidiary Shanghai Gabanna, Han Bo Jia Ye, Chen Co, and other independent third parties have entered into a capital increase agreement. Han Bo Jia Ye will be further invested by a total of 129 million yuan, of which 82.66 million will be paid by China Dongxiang. (SingTao Daily B2)
China Timber Resources Group (269 HK) booked a loss of HK$200 million for the six-month period ended Sep 30, tumbling around 8.29 times over the same period a year ago. No interim dividend was recommended. (SingTao Daily B2)
Chuang’s China Investments (298 HK) recorded profit attributable to equity holders of HK$10.9 million for the 6 months ended 30 Sep, down 15.3 per cent yoy. EPS was 0.72 HK cent. No interim dividend will be paid. (Hong Kong Economic Journal P12)
CITIC 21CN (241 HK) suffered a loss of HK$15.51 million for the six months ended Sep 30, plunging 3.5 times from last year. Loss per share was 0.42 HK cents. No interim dividend was declared. (SingTao Daily B2)
Goodbaby International Holdings’ (1086 HK) gray market price went up over 18 per cent to close at HK$5.81 yesterday. Shareholders earned HK$910 for a board lot of 1000 shares. It says its IPO is 1459 times oversubscribed. (Hong Kong Economic Times A11)
Hang Ten Group Holdings (448 HK) saw profit rise 102.8 per cent to HK$85.6 million for the 6 months ended 30 Sep. Gross margin rose 2.9pps to 57.1 per cent. EPS was 8.72 HK cents. It has resolved to pay an interim dividend of 2 HK cents a share. (Hong Kong Economic Times A14)
Heng Tai Consumables Group (197 HK) terminates a proposed TDR issue. It has agreed to place up to 400 million shares at HK$1.15 a share to not fewer than 6 placees to raise HK$452 million. (Hong Kong Economic Journal P14)
Huadian Power International Corporation (1071 HK) announces that the Development and Reform Commission of Hebei province has approved its subsidiary Hebei Huarui Energy Group’s 2 wind power projects, the 49.5MW wind power generation unit of the Yuzhou Huanghualiang wind farm and the 49.5MW wind power generation unit of the Zhenjiawan wind farm in Yu County, involving 917 million yuan. (Hong Kong Economic Times A14)
ICBC (1398 HK) announced yesterday that the A share rights issue was 99.72 per cent subscribed. Holders of the existing A shares were entitled to subscribe for 0.45 A rights shares for every 10 existing A shares held at a price of 2.99 yuan per A rights share, involving 11.3 billion A shares. (SingTao Daily B2)
Kenford Group (464 HK) saw interim net profit ending Sep 30 surging over 49 per cent year on year to HK$30 million. Earnings per share amounted to 6.9 HK cents. An interim dividend of 2.1 HK cents per share was recommended. (SingTao Daily B4)
Li & Fung Limited (494 HK) seeks to acquire substantially all of the assets of Oxford Apparel, which is a men’s wear producer under the US-listed Oxford Industries, Inc., at a consideration of US$121.7 million (around HK$944 million). The company also says that LF USA will launch industry-first lifestyle brands with entertainers Jennifer Lopez and Marc Anthony that will be available in Kohl’s stores. (SingTao Daily B2)
Xinjiang Goldwind (2208 HK) plans to acquire all the interest in GCL Wind Power (Jiangsu) and 25 per cent equity interest in GCL Wind Power (Xilinhaote). The total consideration involved will be 200 million yuan. (SingTao Daily B2)
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Yip's Chemical Holdings (408 HK) posted a 25 per cent decline in net profit to HK$171 million for the six months ended Sep 30. Revenues jumped 36 per cent to HK$3.65 billion, while total sales volume rose 25 per cent to 350,000 tonnes. Earnings per share were 31.2 HK cents. The company recommended an interim dividend of 12 HK cents per share. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
CCT Telecom (138 HK) has agreed to sell 700 million CCT Resources (8163) shares to Merdeka Commodities at HK$67.9 million. Price per share is HK$0.097. Its interest in CCT Resources will be reduced from 38.13 per cent to 24.99 per cent. (Hong Kong Economic Journal P14)
China Dongxiang’s (3818 HK) indirect wholly owned subsidiary Shanghai Gabanna, Han Bo Jia Ye, Chen Co, and other independent third parties have entered into a capital increase agreement. Han Bo Jia Ye will be further invested by a total of 129 million yuan, of which 82.66 million will be paid by China Dongxiang. (SingTao Daily B2)
China Timber Resources Group (269 HK) booked a loss of HK$200 million for the six-month period ended Sep 30, tumbling around 8.29 times over the same period a year ago. No interim dividend was recommended. (SingTao Daily B2)
Chuang’s China Investments (298 HK) recorded profit attributable to equity holders of HK$10.9 million for the 6 months ended 30 Sep, down 15.3 per cent yoy. EPS was 0.72 HK cent. No interim dividend will be paid. (Hong Kong Economic Journal P12)
CITIC 21CN (241 HK) suffered a loss of HK$15.51 million for the six months ended Sep 30, plunging 3.5 times from last year. Loss per share was 0.42 HK cents. No interim dividend was declared. (SingTao Daily B2)
Goodbaby International Holdings’ (1086 HK) gray market price went up over 18 per cent to close at HK$5.81 yesterday. Shareholders earned HK$910 for a board lot of 1000 shares. It says its IPO is 1459 times oversubscribed. (Hong Kong Economic Times A11)
Hang Ten Group Holdings (448 HK) saw profit rise 102.8 per cent to HK$85.6 million for the 6 months ended 30 Sep. Gross margin rose 2.9pps to 57.1 per cent. EPS was 8.72 HK cents. It has resolved to pay an interim dividend of 2 HK cents a share. (Hong Kong Economic Times A14)
Heng Tai Consumables Group (197 HK) terminates a proposed TDR issue. It has agreed to place up to 400 million shares at HK$1.15 a share to not fewer than 6 placees to raise HK$452 million. (Hong Kong Economic Journal P14)
Huadian Power International Corporation (1071 HK) announces that the Development and Reform Commission of Hebei province has approved its subsidiary Hebei Huarui Energy Group’s 2 wind power projects, the 49.5MW wind power generation unit of the Yuzhou Huanghualiang wind farm and the 49.5MW wind power generation unit of the Zhenjiawan wind farm in Yu County, involving 917 million yuan. (Hong Kong Economic Times A14)
ICBC (1398 HK) announced yesterday that the A share rights issue was 99.72 per cent subscribed. Holders of the existing A shares were entitled to subscribe for 0.45 A rights shares for every 10 existing A shares held at a price of 2.99 yuan per A rights share, involving 11.3 billion A shares. (SingTao Daily B2)
Kenford Group (464 HK) saw interim net profit ending Sep 30 surging over 49 per cent year on year to HK$30 million. Earnings per share amounted to 6.9 HK cents. An interim dividend of 2.1 HK cents per share was recommended. (SingTao Daily B4)
Li & Fung Limited (494 HK) seeks to acquire substantially all of the assets of Oxford Apparel, which is a men’s wear producer under the US-listed Oxford Industries, Inc., at a consideration of US$121.7 million (around HK$944 million). The company also says that LF USA will launch industry-first lifestyle brands with entertainers Jennifer Lopez and Marc Anthony that will be available in Kohl’s stores. (SingTao Daily B2)
Xinjiang Goldwind (2208 HK) plans to acquire all the interest in GCL Wind Power (Jiangsu) and 25 per cent equity interest in GCL Wind Power (Xilinhaote). The total consideration involved will be 200 million yuan. (SingTao Daily B2)
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Yip's Chemical Holdings (408 HK) posted a 25 per cent decline in net profit to HK$171 million for the six months ended Sep 30. Revenues jumped 36 per cent to HK$3.65 billion, while total sales volume rose 25 per cent to 350,000 tonnes. Earnings per share were 31.2 HK cents. The company recommended an interim dividend of 12 HK cents per share. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, November 23, 2010
Hong Kong Stock Market Wrap November 22nd, 2010
IPO: China Datang Corporation Renewable Power at first planned to kick off roadshow this Wed and list in HK on 9 Dec to raise up to US$1 billion. It is said that it will postpone the IPO and will not list in HK this year. (Hong Kong Economic Journal P3)
IPO: China Gold International Resources closed its retail book yesterday. Retail tranche was reportedly at least over 22 times oversubscribed on strong gold prices, locking in over HK$5.5 billion. (Hong Kong Economic Times A12)
The number of subscribers of China Mobile (941 HK) increased by 5.259 million to 575 million in Oct. The number of 3G subscribers increased by 1.71 million to 16.98 million. (Hong Kong Economic Times A10)
China New Materials Holdings (1887 HK) kicked off roadshow yesterday. It is to raise around 682 million- 975 million. Maximum offer price a board lot of 1000 shares is HK$3363.57. (Hong Kong Economic Journal P3)
China Shipping Development (1138 HK) has signed agreements with Jiangnan Changxing Heavy Industry and China Shipbuilding Trading Company in relation to the construction of four bulk vessels each of 180,000 dead weight tons. The total consideration is around HK$1.656 billion. The expected delivery date for the vessels is by the end of 2012. (SingTao Daily B3)
HKR International (480 HK) booked an interim profit of HK$711 million for the six-month period ended Sep 30, increasing by 8 per cent. An interim dividend of 7 HK cents per share was declared. (SingTao Daily B3)
Net profit for Man Wah Holdings (1999 HK) surged 46 per cent year on year to HK$370 million for the six months ended Sep 30. Revenue soared 49.2 per cent to HK$1.98 billion. Earnings per share rose 7.2 per cent to 38.7 HK cents. An interim dividend of 13.4 HK cents per share was declared. (SingTao Daily B4)
Minmetals Land (230 HK) and Beijing Vanke Enterprise Co., Ltd. have jointly made successful bids for two parcels of land located in Haidian District, Beijing for 5.227 billion yuan. Minmetals will make a contribution of 2.666 billion yuan, bearing 51 per cent of the total consideration. (SingTao Daily B3)
Next Media (282 HK) booked revenue of HK$1.7 billion for the 6 months ended 30 Sep, up 13.3 per cent. Net profit fell 36.4 per cent to HK$76 million. No interim dividend will be paid. (Hong Kong Economic Journal P9)
Oriental Watch Holdings (398 HK) reportedly places 50 million shares at HK$4.28-4.38 a share, 12 per cent and 14 per cent discount to yesterday’s closing price of HK$4.98, to raise 214 million –219 million. (Hong Kong Economic Journal P9)
Pearl Oriental (632 HK) Innovation has entered into an exclusivity agreement with Ross Energy for a possible investment, which involves conducting development and exploitation at certain oilfields in Russia. (SingTao Daily B3)
Sateri Holdings (1768 HK) reportedly plans to issue 505.33 million shares at between HK$6.6 and 9.2 a share to raise up to US$600 million, lower than the previously expected US$1 billion. Maximum offer price a lot of 500 shares is around HK$4600. (Hong Kong Economic Journal P3)
Shengli Oil & Gas Pipe (1080 HK) expects to record a substantial and continuing decrease in revenue and profit for the year ending 31 Dec 2010. In addition, the company plans to acquire 25 per cent equity interest in Beijing Golden Fortune Investment Co., Ltd., at a consideration totalling 300 million yuan. (SingTao Daily B3)
Tack Hsin Holdings (611 HK) expects to record a significant increase in profit for the six-month period ended Sep 30. The surge in profit is mainly due to fair-value adjustment arising from derivative financial instruments issued during the period. (SingTao Daily B3)
Texwinca Holdings (321 HK) saw net profit rising 5 per cent year on year to HK$505 million for the six months ended Sep 30. Earnings per share amounted to 37.8 HK cents and an interim dividend of 23 HK cents per share was distributed. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
IPO: China Gold International Resources closed its retail book yesterday. Retail tranche was reportedly at least over 22 times oversubscribed on strong gold prices, locking in over HK$5.5 billion. (Hong Kong Economic Times A12)
The number of subscribers of China Mobile (941 HK) increased by 5.259 million to 575 million in Oct. The number of 3G subscribers increased by 1.71 million to 16.98 million. (Hong Kong Economic Times A10)
China New Materials Holdings (1887 HK) kicked off roadshow yesterday. It is to raise around 682 million- 975 million. Maximum offer price a board lot of 1000 shares is HK$3363.57. (Hong Kong Economic Journal P3)
China Shipping Development (1138 HK) has signed agreements with Jiangnan Changxing Heavy Industry and China Shipbuilding Trading Company in relation to the construction of four bulk vessels each of 180,000 dead weight tons. The total consideration is around HK$1.656 billion. The expected delivery date for the vessels is by the end of 2012. (SingTao Daily B3)
HKR International (480 HK) booked an interim profit of HK$711 million for the six-month period ended Sep 30, increasing by 8 per cent. An interim dividend of 7 HK cents per share was declared. (SingTao Daily B3)
Net profit for Man Wah Holdings (1999 HK) surged 46 per cent year on year to HK$370 million for the six months ended Sep 30. Revenue soared 49.2 per cent to HK$1.98 billion. Earnings per share rose 7.2 per cent to 38.7 HK cents. An interim dividend of 13.4 HK cents per share was declared. (SingTao Daily B4)
Minmetals Land (230 HK) and Beijing Vanke Enterprise Co., Ltd. have jointly made successful bids for two parcels of land located in Haidian District, Beijing for 5.227 billion yuan. Minmetals will make a contribution of 2.666 billion yuan, bearing 51 per cent of the total consideration. (SingTao Daily B3)
Next Media (282 HK) booked revenue of HK$1.7 billion for the 6 months ended 30 Sep, up 13.3 per cent. Net profit fell 36.4 per cent to HK$76 million. No interim dividend will be paid. (Hong Kong Economic Journal P9)
Oriental Watch Holdings (398 HK) reportedly places 50 million shares at HK$4.28-4.38 a share, 12 per cent and 14 per cent discount to yesterday’s closing price of HK$4.98, to raise 214 million –219 million. (Hong Kong Economic Journal P9)
Pearl Oriental (632 HK) Innovation has entered into an exclusivity agreement with Ross Energy for a possible investment, which involves conducting development and exploitation at certain oilfields in Russia. (SingTao Daily B3)
Sateri Holdings (1768 HK) reportedly plans to issue 505.33 million shares at between HK$6.6 and 9.2 a share to raise up to US$600 million, lower than the previously expected US$1 billion. Maximum offer price a lot of 500 shares is around HK$4600. (Hong Kong Economic Journal P3)
Shengli Oil & Gas Pipe (1080 HK) expects to record a substantial and continuing decrease in revenue and profit for the year ending 31 Dec 2010. In addition, the company plans to acquire 25 per cent equity interest in Beijing Golden Fortune Investment Co., Ltd., at a consideration totalling 300 million yuan. (SingTao Daily B3)
Tack Hsin Holdings (611 HK) expects to record a significant increase in profit for the six-month period ended Sep 30. The surge in profit is mainly due to fair-value adjustment arising from derivative financial instruments issued during the period. (SingTao Daily B3)
Texwinca Holdings (321 HK) saw net profit rising 5 per cent year on year to HK$505 million for the six months ended Sep 30. Earnings per share amounted to 37.8 HK cents and an interim dividend of 23 HK cents per share was distributed. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap November 19th, 2010
IPO: Chongqing Rural Commercial Bank has reportedly passed listing hearing last Thu. It will kick off roadshow on 29 Nov, start IPO in early Dec and list in mid Dec, planning to raise US$800 million. Morgan Stanley and Nomura are sponsors of the IPO. (SingTao Daily B3)
Greatview Aseptic Packaging (468 HK) reportedly plans to kick off roadshow on 22 Nov, open its retail book on 26 Nov and list on 9 Dec. Bain Capital is one of its substantial shareholders. (SingTao Daily B3)
IRICO Group Electronics (438 HK) announces placing of 97.058 million H shares at HK$1.26 per share to raise around HK$122 million to fund the construction of its solar photovoltaic glass production line. (Hong Kong Economic Times A12)
Little Sheep Group (968 HK) has entered into an equity transfer agreement with Rixin Group to acquire a 12.556 per cent equity interest in Little Sheep Meat for 13.63 million yuan. After the transfer, it will have 100 per cent equity interest in the company. (Hong Kong Economic Times A12)
Morning Star Resources (542 HK) announces consolidation of every 10 shares of HK$0.2 apiece into 1 consolidated share of HK$2 apiece. It proposes to raise about HK$241 million by way of an open offer of around 1.207 billion shares at a subscription price of HK$0.2 each on the basis of 5 offer shares for every 1 adjusted share. (Hong Kong Economic Journal P8)
Termbray Industries International (93 HK) booked interim net profit of around HK$1.32 million, down 92 per cent yoy. EPS was 0.07 HK cent. No dividend will be paid. (SingTao Daily B3)
Zhejiang Expressway (576 HK) recorded unaudited profit of 1.34 billion yuan for the first 3Qs, up 7.4 per cent yoy. 2.67 billion yuan was attributable to the business of 2 main expressways, around 54 per cent of the total income. Its securities business generated an income of 1.067 billion yuan, 21.6 per cent of the total. (Hong Kong Economic Times A12)
Bosideng International (3998 HK) announced yesterday that the new women fashion brand BOSIDENG RICCI has formally entered the women fashion market. The first presentation of the brand was held on Nov 18, targeted at women aged between 25 and 40, being in middle and senior level management positions. (SingTao Daily B15)
China Metal Recycling (773 HK) has entered into a shareholders agreement for the establishment of a joint venture in Tianjin to engage in the recycling of scrap metals. The total investment and registered capital for the joint venture will be 900 million yuan and 600 million yuan respectively. The JV will be owned as to 33.33 per cent by the company. (SingTao Daily B15)
Dalian Port (2880 HK) announced details of A share issuance on the Shanghai Stock Exchange. It’s A shares will be priced between 3.6 yuan and 4 yuan, seeking to raise up to 6 billion yuan. (SingTao Daily B15)
Kaisa Group (1638 HK) has secured a consortium loan of US$40 million, carrying an interest rate of not exceeding 5 per cent. The company achieved sales revenue of 7.7 billion yuan for the first 10 months, expecting sales to reach 9 billion yuan this year. (Hong Kong Economic Journal P12)
Manulife Financial (945 HK) has held institutional investors day earlier, announcing that its net income will be raised to C$4 billion (around HK$30.5 billion) in 2015, and that shareholders’ return rate will be upgraded to a strategic target of 13 per cent. (SingTao Daily B15)
Maoye (848 HK) is planning to acquire 80 per cent interest in a target company at a full consideration of 406 million yuan. The target company owns four department stores and over 40 supermarket chain stores located at the heart of the central business district in Linzi District, Zibo City, Shandong Province. (SingTao Daily B15)
Sino-Ocean Land (3377 HK) and Nan Fung Group intend to jointly develop property projects in Dalian through setting up of joint ventures, involving a total amount of around US$650 million (over HK$5 billion). The JV will be owned as to 90 per cent by the company. (SingTao Daily B15)
UDL Holdings (620 HK) lost around HK$48 million for the year ended 31 Jul 2010. It also suffered a loss of over 28 million in the same period last year. Sales revenue during the period was around HK$114 million. Loss per share amounted to 0.48 HK cent. No dividend was declared. (SingTao Daily B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Greatview Aseptic Packaging (468 HK) reportedly plans to kick off roadshow on 22 Nov, open its retail book on 26 Nov and list on 9 Dec. Bain Capital is one of its substantial shareholders. (SingTao Daily B3)
IRICO Group Electronics (438 HK) announces placing of 97.058 million H shares at HK$1.26 per share to raise around HK$122 million to fund the construction of its solar photovoltaic glass production line. (Hong Kong Economic Times A12)
Little Sheep Group (968 HK) has entered into an equity transfer agreement with Rixin Group to acquire a 12.556 per cent equity interest in Little Sheep Meat for 13.63 million yuan. After the transfer, it will have 100 per cent equity interest in the company. (Hong Kong Economic Times A12)
Morning Star Resources (542 HK) announces consolidation of every 10 shares of HK$0.2 apiece into 1 consolidated share of HK$2 apiece. It proposes to raise about HK$241 million by way of an open offer of around 1.207 billion shares at a subscription price of HK$0.2 each on the basis of 5 offer shares for every 1 adjusted share. (Hong Kong Economic Journal P8)
Termbray Industries International (93 HK) booked interim net profit of around HK$1.32 million, down 92 per cent yoy. EPS was 0.07 HK cent. No dividend will be paid. (SingTao Daily B3)
Zhejiang Expressway (576 HK) recorded unaudited profit of 1.34 billion yuan for the first 3Qs, up 7.4 per cent yoy. 2.67 billion yuan was attributable to the business of 2 main expressways, around 54 per cent of the total income. Its securities business generated an income of 1.067 billion yuan, 21.6 per cent of the total. (Hong Kong Economic Times A12)
Bosideng International (3998 HK) announced yesterday that the new women fashion brand BOSIDENG RICCI has formally entered the women fashion market. The first presentation of the brand was held on Nov 18, targeted at women aged between 25 and 40, being in middle and senior level management positions. (SingTao Daily B15)
China Metal Recycling (773 HK) has entered into a shareholders agreement for the establishment of a joint venture in Tianjin to engage in the recycling of scrap metals. The total investment and registered capital for the joint venture will be 900 million yuan and 600 million yuan respectively. The JV will be owned as to 33.33 per cent by the company. (SingTao Daily B15)
Dalian Port (2880 HK) announced details of A share issuance on the Shanghai Stock Exchange. It’s A shares will be priced between 3.6 yuan and 4 yuan, seeking to raise up to 6 billion yuan. (SingTao Daily B15)
Kaisa Group (1638 HK) has secured a consortium loan of US$40 million, carrying an interest rate of not exceeding 5 per cent. The company achieved sales revenue of 7.7 billion yuan for the first 10 months, expecting sales to reach 9 billion yuan this year. (Hong Kong Economic Journal P12)
Manulife Financial (945 HK) has held institutional investors day earlier, announcing that its net income will be raised to C$4 billion (around HK$30.5 billion) in 2015, and that shareholders’ return rate will be upgraded to a strategic target of 13 per cent. (SingTao Daily B15)
Maoye (848 HK) is planning to acquire 80 per cent interest in a target company at a full consideration of 406 million yuan. The target company owns four department stores and over 40 supermarket chain stores located at the heart of the central business district in Linzi District, Zibo City, Shandong Province. (SingTao Daily B15)
Sino-Ocean Land (3377 HK) and Nan Fung Group intend to jointly develop property projects in Dalian through setting up of joint ventures, involving a total amount of around US$650 million (over HK$5 billion). The JV will be owned as to 90 per cent by the company. (SingTao Daily B15)
UDL Holdings (620 HK) lost around HK$48 million for the year ended 31 Jul 2010. It also suffered a loss of over 28 million in the same period last year. Sales revenue during the period was around HK$114 million. Loss per share amounted to 0.48 HK cent. No dividend was declared. (SingTao Daily B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, November 19, 2010
Hong Kong Stock Market Wrap November 18th, 2010
Air China (753 HK) is planning to purchase 10 Airbus 330-series aircraft and 10 Airbus 350-series aircraft from Airbus Company, involving US$4.49 billion (around 29.8 billion yuan). (SingTao Daily B4)
AV Concept (595 HK) saw new profit reach HK$37.063 million for the six months ended Sep 30, up 2.48 per cent over the same period last year. Earnings per share amounted to 7.3 HK cents. An interim dividend of 3 HK cents per share was distributed. Shares of the company plunged 7.2 per cent after the results announcement yesterday, ending at HK$1.55. (SingTao Daily B5)
China Resources (291 HK) posted a net profit of HK$1.058 billion in the third quarter, up 1.4 per cent year on year. Revenue surged 36.9 per cent year on year to HK$24.447 billion. Net profit for the first three quarters amounted to HK$5.301 billion, soaring 140.8 per cent year on year. First three-quarter revenue went up 33.5 per cent year on year to HK$66.017 billion. (SingTao Daily B5)
Goodbaby International Holdings (1086 HK) was over 1439 times oversubscribed. It will fix the offer price at HK$4.9, the upper end of the IPO price range. It will list on 24 Nov. (Hong Kong Economic Journal P8)
Hong Long Holdings (1383 HK) is planning to acquire a development site located at Chaohu City, Anhui Province at a consideration of around HK$280 million. The Chaohu project will be the first phase of the development project that includes a comprehensive mixed-use community comprising retail shops and residential units. (SingTao Daily B4)
Hong Kong Economic Times (423 HK) aims to purchase properties located at Workshop No. 8 on the 14th Floor of Kodak House II and Workshop Nos. 6 and 7 on the 16th Floor of Kodak House II, at a consideration of HK$48.28 million. The Properties will be used as office premises to cope with the future expansion. (SingTao Daily B4)
True Corp of Thailand plans to acquire the CDMA business in Thailand of Hutchison Whampoa ‘s Hutchison (13 HK) Telecommunications International. They are in talks about the deal. It is said that AIS is also interested in acquiring the business. The market value of the business is estimated to be between US$130 million and 220 million. (Hong Kong Economic Journal P8)
King Fook (280 HK) booked a net profit of HK$13.7 million for the half-year period ended Sep 30, plunging over 46 per cent from the same period a year ago. An interim dividend of 0.3 HK cents per share was distributed, dipping over 33 per cent from the same period last year. (SingTao Daily B4)
Goldman Sachs sets Buy rating on Longfor Properties (960 HK), with target price at HK$13.27. Goldman Sachs expects its sales to outperform its peers and its debt ratio to go down from 68 per cent to 30 per cent. Shares closed at HK$9.44 yesterday, up 2 per cent. (Hong Kong Economic Journal P11)
Deutsche Bank reiterates Buy rating on Renhe Commercial Holdings (1387 HK), with target price at HK$2.3. Deutsche Bank says it has issued US$900 million bonds so far this year and expects debt to assets ratio to stand at 23 per cent. Shares of the company lifted 2.1 per cent to HK$1.42 yesterday. (Hong Kong Economic Journal P11)
Sa Sa International (178 HK) booked a net profit of HK$176 million for the six-month period ended Sep 30, soaring over 42 per cent year on year. Earnings per share was 12.7 HK cents. An interim dividend along with a special one totaled 9 HK cents per share were declared. In addition, the company also paid one bonus share for every existing share. (SingTao Daily B4)
ShiFang Holding (1831 HK) plans to issue around 183 million shares at between HK$3.03 and 4.61 each. Maximum offer price a lot of 1000 shares is HK$4656.46. It will open its retail book on 22 Nov and list on 3 Dec. (Hong Kong Economic Journal P8)
BEA’s (23 HK) subsidiary BEA China has successfully completed the 1st ODI (overseas direct investment) settlement transaction in yuan in Xinjiang, the 1st region where the government has liberalised RMB capital accounts. (Hong Kong Economic Times A10)
Vitasoy International Holdings (345 HK) posted net profit of HK$156 million for the 6 months ended 30 Sep, up 10 per cent yoy. Gross margin remained at 50 per cent. An interim dividend of 3.2 HK cents was declared. (Hong Kong Economic Times A15)
Winfoong International (63 HK) announces that the occupation permit of The Icon at Conduit Road has been received. The Icon is a property comprising a residential tower of 68 units, of which 60 units have been pre-sold. Subject to the progress of the completion process, the revenue from the sale of units will be recorded for the year. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
AV Concept (595 HK) saw new profit reach HK$37.063 million for the six months ended Sep 30, up 2.48 per cent over the same period last year. Earnings per share amounted to 7.3 HK cents. An interim dividend of 3 HK cents per share was distributed. Shares of the company plunged 7.2 per cent after the results announcement yesterday, ending at HK$1.55. (SingTao Daily B5)
China Resources (291 HK) posted a net profit of HK$1.058 billion in the third quarter, up 1.4 per cent year on year. Revenue surged 36.9 per cent year on year to HK$24.447 billion. Net profit for the first three quarters amounted to HK$5.301 billion, soaring 140.8 per cent year on year. First three-quarter revenue went up 33.5 per cent year on year to HK$66.017 billion. (SingTao Daily B5)
Goodbaby International Holdings (1086 HK) was over 1439 times oversubscribed. It will fix the offer price at HK$4.9, the upper end of the IPO price range. It will list on 24 Nov. (Hong Kong Economic Journal P8)
Hong Long Holdings (1383 HK) is planning to acquire a development site located at Chaohu City, Anhui Province at a consideration of around HK$280 million. The Chaohu project will be the first phase of the development project that includes a comprehensive mixed-use community comprising retail shops and residential units. (SingTao Daily B4)
Hong Kong Economic Times (423 HK) aims to purchase properties located at Workshop No. 8 on the 14th Floor of Kodak House II and Workshop Nos. 6 and 7 on the 16th Floor of Kodak House II, at a consideration of HK$48.28 million. The Properties will be used as office premises to cope with the future expansion. (SingTao Daily B4)
True Corp of Thailand plans to acquire the CDMA business in Thailand of Hutchison Whampoa ‘s Hutchison (13 HK) Telecommunications International. They are in talks about the deal. It is said that AIS is also interested in acquiring the business. The market value of the business is estimated to be between US$130 million and 220 million. (Hong Kong Economic Journal P8)
King Fook (280 HK) booked a net profit of HK$13.7 million for the half-year period ended Sep 30, plunging over 46 per cent from the same period a year ago. An interim dividend of 0.3 HK cents per share was distributed, dipping over 33 per cent from the same period last year. (SingTao Daily B4)
Goldman Sachs sets Buy rating on Longfor Properties (960 HK), with target price at HK$13.27. Goldman Sachs expects its sales to outperform its peers and its debt ratio to go down from 68 per cent to 30 per cent. Shares closed at HK$9.44 yesterday, up 2 per cent. (Hong Kong Economic Journal P11)
Deutsche Bank reiterates Buy rating on Renhe Commercial Holdings (1387 HK), with target price at HK$2.3. Deutsche Bank says it has issued US$900 million bonds so far this year and expects debt to assets ratio to stand at 23 per cent. Shares of the company lifted 2.1 per cent to HK$1.42 yesterday. (Hong Kong Economic Journal P11)
Sa Sa International (178 HK) booked a net profit of HK$176 million for the six-month period ended Sep 30, soaring over 42 per cent year on year. Earnings per share was 12.7 HK cents. An interim dividend along with a special one totaled 9 HK cents per share were declared. In addition, the company also paid one bonus share for every existing share. (SingTao Daily B4)
ShiFang Holding (1831 HK) plans to issue around 183 million shares at between HK$3.03 and 4.61 each. Maximum offer price a lot of 1000 shares is HK$4656.46. It will open its retail book on 22 Nov and list on 3 Dec. (Hong Kong Economic Journal P8)
BEA’s (23 HK) subsidiary BEA China has successfully completed the 1st ODI (overseas direct investment) settlement transaction in yuan in Xinjiang, the 1st region where the government has liberalised RMB capital accounts. (Hong Kong Economic Times A10)
Vitasoy International Holdings (345 HK) posted net profit of HK$156 million for the 6 months ended 30 Sep, up 10 per cent yoy. Gross margin remained at 50 per cent. An interim dividend of 3.2 HK cents was declared. (Hong Kong Economic Times A15)
Winfoong International (63 HK) announces that the occupation permit of The Icon at Conduit Road has been received. The Icon is a property comprising a residential tower of 68 units, of which 60 units have been pre-sold. Subject to the progress of the completion process, the revenue from the sale of units will be recorded for the year. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, November 18, 2010
Hong Kong Stock Market Wrap November 17th, 2010
Arnhold (102 HK) announces that its controlling shareholders, who hold 73.8 per cent interest in the company, are currently under negotiation for the disposal of its interest in the company. It is intended that a general offer will be extended by the potential investor following the completion of the disposal. (SingTao Daily B3)
Asia Cassava Resources (841 HK) saw interim net profit to Sep 30 climbing 42 per cent year on year to HK$48 million. Profit of cassava-related business amounted to HK$41 million, surging nearly 65 per cent from a year ago. Earnings per share amounted to 13.4 HK cents and an interim dividend of 2.2 HK cents per share was paid. (SingTao Daily B3)
Pricerite Stores, owned by Celestial Asia Securities (1049 HK), has teamed up with Beijing-based construction materials retail firm OrientHome, planning to open 200 franchise stores over the next five years in mainland cities other than in Guangdong Province. It is expected the first store to be opened in Beijing in the first quarter next year. (SingTao Daily B4)
Guangfa Energy under China Qinfa Group (866 HK) has agreed to acquire 32 per cent equity interest in Huameiao Energy from Huiyong Jinyuan Energy of Shangxi for a consideration of 1.6 billion yuan. (Hong Kong Economic Journal P8)
China State Construction International (3311 HK) and Maeda Corporation have jointly accepted an HK$3.218 billion contract awarded by MTR Corporation (0066) to provide construction services for the Express Rail Link Contract 823B - Shek Kong Stabling Sidings and Emergency Rescue Siding. (Hong Kong Economic Journal P15)
Coastal Greenland (1124 HK) expects a consolidated net loss for the 6 months ended 30 Sep as the number of property development projects completed and deliveries of completed property units to purchasers went down. (Hong Kong Economic Journal P15)
Fantasia Holdings Group (1777 HK) plans to issue TDR. It is the first mainland housing company that plans to issue TDR. Chan Sze Hon of the company says he hopes to announce further details of the issuance by the end of the month. (Hong Kong Economic Journal P15)
The construction of phase I project at Dalian Wafangdian Wind Power Plant, which is wholly owned by Huaneng Power International (902 HK), has lately been approved by Dalian Municipal Commission of Development and Reform. Estimated total investment is around 495 million yuan. (Hong Kong Economic Times A10)
Oriental Watch Holdings (398 HK) posted profit of HK$70.454 million for the 6 months ended the end of Sep, jumping 1.05 times yoy. Turnover was HK$1.679 billion, up 18.4 per cent yoy. EPS amounted to 18.09 HK cents. The board recommends an interim dividend of 3 HK cents a share. (Hong Kong Economic Times A10)
PNG Resources Holdings (221 HK) booked interim profit of around HK$11.3 million as compared to the loss of around HK$51.78 million over the same period last year. Turnover was about HK$31.35 million. EPS amounted to 0.26 HK cent. No dividend was declared. (Hong Kong Economic Journal P8)
SITC International (1308 HK) has entered into shipbuilding contracts regarding the construction of three container vessels for an aggregate consideration of around HK$447 million. The delivery of the three vessels will be by the end of 2012. (SingTao Daily B3)
United Company Rusal (486 HK) expects aluminium prices to be US$2,400 per tonne in the fourth quarter, US$300 higher than in the third quarter. The company also expects aluminium prices to lift another US$400 over the next 12 months. (SingTao Daily B3)
VC Brokerage Limited (821 HK), a wholly-owned subsidiary of the company, made advances to five entities, primarily to subscribe for shares in the IPO of Goodbaby International on Nov 16, involving securities margin financing of a total of HK$326.9 million. (SingTao Daily B3)
VTech Holdings’s (303 HK) half-year net profit to Sep 30 was up 2.3 percent to US$94 million (around HK$726 million) from a year earlier. Revenue rose 10.3 percent to US$814 million. Basic earnings per share amounted to US$37.8. An interim dividend of 16 US cents per share was declared, unchanged from last year. (SingTao Daily B4)
Zhongda International (909 HK0 has entered into an agreement with the US-based YA Global Master. Pursuant to which Zhongda has been granted the right to require YA Global to subscribe for new shares of the former for a consideration of HK$275 million. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Asia Cassava Resources (841 HK) saw interim net profit to Sep 30 climbing 42 per cent year on year to HK$48 million. Profit of cassava-related business amounted to HK$41 million, surging nearly 65 per cent from a year ago. Earnings per share amounted to 13.4 HK cents and an interim dividend of 2.2 HK cents per share was paid. (SingTao Daily B3)
Pricerite Stores, owned by Celestial Asia Securities (1049 HK), has teamed up with Beijing-based construction materials retail firm OrientHome, planning to open 200 franchise stores over the next five years in mainland cities other than in Guangdong Province. It is expected the first store to be opened in Beijing in the first quarter next year. (SingTao Daily B4)
Guangfa Energy under China Qinfa Group (866 HK) has agreed to acquire 32 per cent equity interest in Huameiao Energy from Huiyong Jinyuan Energy of Shangxi for a consideration of 1.6 billion yuan. (Hong Kong Economic Journal P8)
China State Construction International (3311 HK) and Maeda Corporation have jointly accepted an HK$3.218 billion contract awarded by MTR Corporation (0066) to provide construction services for the Express Rail Link Contract 823B - Shek Kong Stabling Sidings and Emergency Rescue Siding. (Hong Kong Economic Journal P15)
Coastal Greenland (1124 HK) expects a consolidated net loss for the 6 months ended 30 Sep as the number of property development projects completed and deliveries of completed property units to purchasers went down. (Hong Kong Economic Journal P15)
Fantasia Holdings Group (1777 HK) plans to issue TDR. It is the first mainland housing company that plans to issue TDR. Chan Sze Hon of the company says he hopes to announce further details of the issuance by the end of the month. (Hong Kong Economic Journal P15)
The construction of phase I project at Dalian Wafangdian Wind Power Plant, which is wholly owned by Huaneng Power International (902 HK), has lately been approved by Dalian Municipal Commission of Development and Reform. Estimated total investment is around 495 million yuan. (Hong Kong Economic Times A10)
Oriental Watch Holdings (398 HK) posted profit of HK$70.454 million for the 6 months ended the end of Sep, jumping 1.05 times yoy. Turnover was HK$1.679 billion, up 18.4 per cent yoy. EPS amounted to 18.09 HK cents. The board recommends an interim dividend of 3 HK cents a share. (Hong Kong Economic Times A10)
PNG Resources Holdings (221 HK) booked interim profit of around HK$11.3 million as compared to the loss of around HK$51.78 million over the same period last year. Turnover was about HK$31.35 million. EPS amounted to 0.26 HK cent. No dividend was declared. (Hong Kong Economic Journal P8)
SITC International (1308 HK) has entered into shipbuilding contracts regarding the construction of three container vessels for an aggregate consideration of around HK$447 million. The delivery of the three vessels will be by the end of 2012. (SingTao Daily B3)
United Company Rusal (486 HK) expects aluminium prices to be US$2,400 per tonne in the fourth quarter, US$300 higher than in the third quarter. The company also expects aluminium prices to lift another US$400 over the next 12 months. (SingTao Daily B3)
VC Brokerage Limited (821 HK), a wholly-owned subsidiary of the company, made advances to five entities, primarily to subscribe for shares in the IPO of Goodbaby International on Nov 16, involving securities margin financing of a total of HK$326.9 million. (SingTao Daily B3)
VTech Holdings’s (303 HK) half-year net profit to Sep 30 was up 2.3 percent to US$94 million (around HK$726 million) from a year earlier. Revenue rose 10.3 percent to US$814 million. Basic earnings per share amounted to US$37.8. An interim dividend of 16 US cents per share was declared, unchanged from last year. (SingTao Daily B4)
Zhongda International (909 HK0 has entered into an agreement with the US-based YA Global Master. Pursuant to which Zhongda has been granted the right to require YA Global to subscribe for new shares of the former for a consideration of HK$275 million. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, November 17, 2010
Hong Kong Stock Market Wrap November 16th, 2010
HKEx data shows that Bank of America sold its entitlement in the rights issue of China Construction Bank (939 HK) to Tamasek Holdings on Nov 10, involving 1.79 billion shares. The rights to buy the CCB shares was priced at HK$1.874 apiece, involving HK$3.354 billion. (SingTao Daily B2)
China Vanadium Titano-Magnetite Mining (893 HK) plans to purchase the Huili Caitong equity interest and the Aba equity interest held by substantial shareholder Chuan Wei, at a total consideration of 595.4 million yuan. (Sing Tao Daily B2)
Dah Sing Banking Group (2356 HK) proposes a rights issue of not less than 111 million rights shares at HK$9 apiece, 41 per cent discount to yesterday’s closing price of HK$15.24, on the basis of 1 rights share for every10 shares held. The bank expects to raise up to around HK$1 billion. (Hong Kong Economic Times A12)
Dah Sing Financial (440 HK) proposes a rights issue of not less than 32.533 million rights shares at HK$36.89 each, 40 per cent discount to yesterday’s closing price of HK$61.45, on the basis of 1 rights share for every 8 shares held to raise no less than HK$1.2 billion. (Hong Kong Economic Times A12)
Datang International Power Generation (991 HK) announces that the Sichuan Daduhe Changheba Hydropower Station Project, which is controlled, organized, constructed and operated by the company, has recently been approved by the National Development and Reform Commission. The total investment amount will be 21.9 billion yuan. (SingTao Daily B2)
Xiamen Bank has announced a rights issue of 198 million new shares at 2.71 yuan each. Fubon Bank (Hong Kong) (636 HK), holding a 19.99 per cent share in the bank since 2008, will fully subscribe its allocated 39.58 million shares at a total subscription price of 107 million yuan. (Hong Kong Economic Times A12)
Giordano International’s (709 HK) Q3 sales rose 16.9 per cent yoy; sales for the first 3Qs were up 10 per cent yoy. Q3 gross margin was 56.7 per cent, up 4.6 percentage points yoy, 1.2 percentage points lower than 1H10 on customary seasonend promotions. Gross margin for the first 3Qs lifted 8.1 percentage points yoy to 57.5 per cent. (Hong Kong Economic Times A10)
Lansen Pharmaceutical (503 HK) intends to acquire 20 per cent equity interest in Zhejiang Starry Pharmaceutical Co., Ltd., at a consideration of 160 million yuan. Starry is the largest iohexol manufacturer in the mainland. (SingTao Daily B2)
Leoch International Technology (842 HK) shares closed at HK$4.67 each yesterday, down 12.71 per cent over the offer price of HK$5.35 a share. Not taking charges into account, shareholders suffered a paper loss of HK$680 for a board of 1000 shares. (Hong Kong Economic Journal P4)
MTR Corporation (66 HK) announced yesterday in relation to a US$3 billion debt issuance program for the issue of notes with maturities of between one month and 30 years. The company has applied for the listing of the notes. (SingTao Daily B2)
Next Media Limited (282 HK) makes a clarification in relation to its television investment. The media company says that it does not plan to invest HK$2.55 billion in set-up-boxes of an open internet based IPTV platform project. Details of the project are still under discussion and evaluation. (SingTao Daily B2)
Shui On Construction and Materials (983 HK) has acquired 72.7 per cent equity interest of Shanghai 21st Century Real Estate Co. Ltd., situated at Pudong New Area, at a consideration of 900 million yuan. (SingTao Daily B2)
Sino Biopharmaceutical (1177 HK) saw a third-quarter profit of HK$127.8 million for the quarter ended Sep 30, leaping nearly 31 per cent year on year. A third-quarter dividend of 2 HK cents per share was declared. (SingTao Daily B2)
Skyworth Digital (751 HK) expects net profit for the 6 months ended the end of Sep to go down sharply yoy chiefly because sales volume and gross profit margin for sale of TV had gone down. It, however, expects the figure to be much higher than that for each of the 1H of the past financial years, except that for the 1H 2009/10, since it floated its shares in 2000. (Hong Kong Economic Times A10)
Mainland housing stocks generally went down yesterday as securities firms have been giving bearish comments on them. Credit Suisse expects housing prices and trading volume will continue to go down and mainland banking stocks will underperform. UBS suggests holding shares of developers such as SOHO China (410 HK) and Agile Property (3383), saying that the former has relatively better sales performance and the latter has solid financial strength. (Hong Kong Economic Journal P2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Vanadium Titano-Magnetite Mining (893 HK) plans to purchase the Huili Caitong equity interest and the Aba equity interest held by substantial shareholder Chuan Wei, at a total consideration of 595.4 million yuan. (Sing Tao Daily B2)
Dah Sing Banking Group (2356 HK) proposes a rights issue of not less than 111 million rights shares at HK$9 apiece, 41 per cent discount to yesterday’s closing price of HK$15.24, on the basis of 1 rights share for every10 shares held. The bank expects to raise up to around HK$1 billion. (Hong Kong Economic Times A12)
Dah Sing Financial (440 HK) proposes a rights issue of not less than 32.533 million rights shares at HK$36.89 each, 40 per cent discount to yesterday’s closing price of HK$61.45, on the basis of 1 rights share for every 8 shares held to raise no less than HK$1.2 billion. (Hong Kong Economic Times A12)
Datang International Power Generation (991 HK) announces that the Sichuan Daduhe Changheba Hydropower Station Project, which is controlled, organized, constructed and operated by the company, has recently been approved by the National Development and Reform Commission. The total investment amount will be 21.9 billion yuan. (SingTao Daily B2)
Xiamen Bank has announced a rights issue of 198 million new shares at 2.71 yuan each. Fubon Bank (Hong Kong) (636 HK), holding a 19.99 per cent share in the bank since 2008, will fully subscribe its allocated 39.58 million shares at a total subscription price of 107 million yuan. (Hong Kong Economic Times A12)
Giordano International’s (709 HK) Q3 sales rose 16.9 per cent yoy; sales for the first 3Qs were up 10 per cent yoy. Q3 gross margin was 56.7 per cent, up 4.6 percentage points yoy, 1.2 percentage points lower than 1H10 on customary seasonend promotions. Gross margin for the first 3Qs lifted 8.1 percentage points yoy to 57.5 per cent. (Hong Kong Economic Times A10)
Lansen Pharmaceutical (503 HK) intends to acquire 20 per cent equity interest in Zhejiang Starry Pharmaceutical Co., Ltd., at a consideration of 160 million yuan. Starry is the largest iohexol manufacturer in the mainland. (SingTao Daily B2)
Leoch International Technology (842 HK) shares closed at HK$4.67 each yesterday, down 12.71 per cent over the offer price of HK$5.35 a share. Not taking charges into account, shareholders suffered a paper loss of HK$680 for a board of 1000 shares. (Hong Kong Economic Journal P4)
MTR Corporation (66 HK) announced yesterday in relation to a US$3 billion debt issuance program for the issue of notes with maturities of between one month and 30 years. The company has applied for the listing of the notes. (SingTao Daily B2)
Next Media Limited (282 HK) makes a clarification in relation to its television investment. The media company says that it does not plan to invest HK$2.55 billion in set-up-boxes of an open internet based IPTV platform project. Details of the project are still under discussion and evaluation. (SingTao Daily B2)
Shui On Construction and Materials (983 HK) has acquired 72.7 per cent equity interest of Shanghai 21st Century Real Estate Co. Ltd., situated at Pudong New Area, at a consideration of 900 million yuan. (SingTao Daily B2)
Sino Biopharmaceutical (1177 HK) saw a third-quarter profit of HK$127.8 million for the quarter ended Sep 30, leaping nearly 31 per cent year on year. A third-quarter dividend of 2 HK cents per share was declared. (SingTao Daily B2)
Skyworth Digital (751 HK) expects net profit for the 6 months ended the end of Sep to go down sharply yoy chiefly because sales volume and gross profit margin for sale of TV had gone down. It, however, expects the figure to be much higher than that for each of the 1H of the past financial years, except that for the 1H 2009/10, since it floated its shares in 2000. (Hong Kong Economic Times A10)
Mainland housing stocks generally went down yesterday as securities firms have been giving bearish comments on them. Credit Suisse expects housing prices and trading volume will continue to go down and mainland banking stocks will underperform. UBS suggests holding shares of developers such as SOHO China (410 HK) and Agile Property (3383), saying that the former has relatively better sales performance and the latter has solid financial strength. (Hong Kong Economic Journal P2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, November 16, 2010
Hong Kong Stock Market Wrap November 15th, 2010
Cathay Pacific Airways (293 HK) expects its full-year profit to be no less than HK$12.5 billion, up no less than 1.66 times yoy. Credit Suisse and Nomura expect its full-year profit to be HK$11.72 billion and HK$12.53 billion respectively. (Hong Kong Economic Journal P6)
It is said that China Modern Dairy’s international placing (1117 HK) is 5 times oversubscribed. BEA (0023), China Life Insurance (2628) and some UK and US funds have subscribed for its shares. (Hong Kong Economic Times A10)
Chuang’s Consortium International (367 HK) sells 5th floor, 15th to 23rd floors and penthouse, Chuang’s Enterprises Building, No. 382 Lockhart Road, Wanchai at a consideration of HK$208 million. Purchaser Brilliant Sense has already paid an initial deposit. The disposal will be completed by the end of Feb 2011. (Hong Kong Economic Journal P13)
Da Ming International’s (1090 HK) maximum offer price a board lot of 2000 shares is HK$5454.4. It offers 250 million shares at between HK$2-2.7 each. It will be listed on 1 Dec. It is said that Lee Kee Holdings (0637) is already its cornerstone investor. (Hong Kong Economic Journal P1)
Fantasia Holdings Group (1777 HK) has successfully auctioned for two pieces of residential land in Tianjin City, at a consideration of 623 million yuan. The useable area of the two sites was about 180,000 square meters each. (SingTao Daily B4)
GOME Electrical (493 HK) Appliances booked a net profit of 477 million yuan for the third quarter, meeting expectations. Net profit for the first three quarters amounted to 1.44 billion yuan, leaping 49.2 per cent year on year. Same-store sales during the period rose 21.5 per cent year on year. (SingTao Daily B4)
Hong Kong Economic Times (423 HK) saw half-year earnings surge 72 per cent to HK$69 million. Earnings per share amounted to 16 HK cents and an interim dividend of 4.1 HK cents per share was distributed. (SingTao Daily B4)
Intime Department Store (1833 HK) aims to acquire an 84.5 per cent equity interest in Hubei New Century at a consideration of around 248 million yuan. Hubei New Century is engaged in the operation of department store, chain supermarket and convenience store in Suizhou, Hubei Province. (SingTao Daily B4)
The US private equity firm TPG has placed old shares of Lenovo for the third time in 15 months. Market sources say that TPG together with Newbridge Capital, its subsidiary, and another institutional investor General Atlantic placed about 282 million Lenovo (992 HK) shares via Nomura after close of trading yesterday, involving up to HK$1.561 billion. The placing price was between HK$5.451 and HK$5.53 per share. (SingTao Daily B3)
The gray market price of Leoch International Technology (842 HK), whose IPO was 258 times oversubscribed, closed at HK$5.1 yesterday, 4.67 per cent lower than the offer price of HK$5.35. Not taking charges into account, investors suffered a paper loss of HK$250 for a board lot of shares. (Hong Kong Economic Times A10)
Mongolia Investment Group (402 HK) announces that the overall production schedule of TNE Mine has been deferred due to unforeseeable technical causes. The company expects the output of coal from the TNE Mine for the year ending 31 Dec 2010 and 31 Dec 2011 would be adjusted to about 60,000 tonnes and 1,000,000 tonnes respectively. The originally expected output for 2010 and 2011 were 300,000 tonnes and 2,000,000 tonnes respectively. (SingTao Daily B4)
Pacific Basin Shipping (2343 HK) acquired six handysize newbuilding vessels and four handymax newbuilding vessels for a consideration of around HK$1.7 billion yesterday. (SingTao Daily B4)
PICC Property and Casualty (2328 HK) recorded direct premiums income of 128.93 billion yuan for the first 10 months, up 24.9 per cent yoy. The fig for the first 9 months was 118.372 billion yuan. (Hong Kong Economic Times A10)
TCL Multimedia Technology (1070 HK) has received the first writ issued by the official liquidator of TTE Europe in the Commercial Court of Nanterre against TCL
Corporation, TCL Multimedia Technology and relevant subsidiaries, alleging a misappropriation or transfer of customers of TTE Europe and TTE Europe’s unjustified assumption of the cost of an employment preservation plan. (Hong Kong Economic Journal P6)
Tingyi (Cayman Islands) (322 HK) posted a 36.1 per cent surge in net profit for the third quarter ended Sep 30, amounting to US$200 million (around HK$1.55 billion). Basic earnings per share was 3.59 US cents, leaping 35.98 per cent year on year. Sales revenue rose 34.45 per cent to US$2.067 billion. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
It is said that China Modern Dairy’s international placing (1117 HK) is 5 times oversubscribed. BEA (0023), China Life Insurance (2628) and some UK and US funds have subscribed for its shares. (Hong Kong Economic Times A10)
Chuang’s Consortium International (367 HK) sells 5th floor, 15th to 23rd floors and penthouse, Chuang’s Enterprises Building, No. 382 Lockhart Road, Wanchai at a consideration of HK$208 million. Purchaser Brilliant Sense has already paid an initial deposit. The disposal will be completed by the end of Feb 2011. (Hong Kong Economic Journal P13)
Da Ming International’s (1090 HK) maximum offer price a board lot of 2000 shares is HK$5454.4. It offers 250 million shares at between HK$2-2.7 each. It will be listed on 1 Dec. It is said that Lee Kee Holdings (0637) is already its cornerstone investor. (Hong Kong Economic Journal P1)
Fantasia Holdings Group (1777 HK) has successfully auctioned for two pieces of residential land in Tianjin City, at a consideration of 623 million yuan. The useable area of the two sites was about 180,000 square meters each. (SingTao Daily B4)
GOME Electrical (493 HK) Appliances booked a net profit of 477 million yuan for the third quarter, meeting expectations. Net profit for the first three quarters amounted to 1.44 billion yuan, leaping 49.2 per cent year on year. Same-store sales during the period rose 21.5 per cent year on year. (SingTao Daily B4)
Hong Kong Economic Times (423 HK) saw half-year earnings surge 72 per cent to HK$69 million. Earnings per share amounted to 16 HK cents and an interim dividend of 4.1 HK cents per share was distributed. (SingTao Daily B4)
Intime Department Store (1833 HK) aims to acquire an 84.5 per cent equity interest in Hubei New Century at a consideration of around 248 million yuan. Hubei New Century is engaged in the operation of department store, chain supermarket and convenience store in Suizhou, Hubei Province. (SingTao Daily B4)
The US private equity firm TPG has placed old shares of Lenovo for the third time in 15 months. Market sources say that TPG together with Newbridge Capital, its subsidiary, and another institutional investor General Atlantic placed about 282 million Lenovo (992 HK) shares via Nomura after close of trading yesterday, involving up to HK$1.561 billion. The placing price was between HK$5.451 and HK$5.53 per share. (SingTao Daily B3)
The gray market price of Leoch International Technology (842 HK), whose IPO was 258 times oversubscribed, closed at HK$5.1 yesterday, 4.67 per cent lower than the offer price of HK$5.35. Not taking charges into account, investors suffered a paper loss of HK$250 for a board lot of shares. (Hong Kong Economic Times A10)
Mongolia Investment Group (402 HK) announces that the overall production schedule of TNE Mine has been deferred due to unforeseeable technical causes. The company expects the output of coal from the TNE Mine for the year ending 31 Dec 2010 and 31 Dec 2011 would be adjusted to about 60,000 tonnes and 1,000,000 tonnes respectively. The originally expected output for 2010 and 2011 were 300,000 tonnes and 2,000,000 tonnes respectively. (SingTao Daily B4)
Pacific Basin Shipping (2343 HK) acquired six handysize newbuilding vessels and four handymax newbuilding vessels for a consideration of around HK$1.7 billion yesterday. (SingTao Daily B4)
PICC Property and Casualty (2328 HK) recorded direct premiums income of 128.93 billion yuan for the first 10 months, up 24.9 per cent yoy. The fig for the first 9 months was 118.372 billion yuan. (Hong Kong Economic Times A10)
TCL Multimedia Technology (1070 HK) has received the first writ issued by the official liquidator of TTE Europe in the Commercial Court of Nanterre against TCL
Corporation, TCL Multimedia Technology and relevant subsidiaries, alleging a misappropriation or transfer of customers of TTE Europe and TTE Europe’s unjustified assumption of the cost of an employment preservation plan. (Hong Kong Economic Journal P6)
Tingyi (Cayman Islands) (322 HK) posted a 36.1 per cent surge in net profit for the third quarter ended Sep 30, amounting to US$200 million (around HK$1.55 billion). Basic earnings per share was 3.59 US cents, leaping 35.98 per cent year on year. Sales revenue rose 34.45 per cent to US$2.067 billion. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap November 12th, 2010
Market sources say that China Rongsheng Heavy Industries (1101 HK), which will be listed on 19 Nov, plans to fix the price at HK$8 per share. The retail tranche was around 21 times oversubscribed, locking in around HK$19.5 billion. (Hong Kong Economic Journal P6)
The CSRC has approved Dalian Port (PDA) (2880 HK) to issue not more than 1.5 billion A shares to the pubic in the mainland and its parent. Part of the shares will be consideration shares to be placed to its parent as the consideration for acquiring assets from its parent. (Hong Kong Economic Times A12)
Hisense Kelon Electrical (921 HK) has sold 17.83 million A shares of Huayi Compressor, around 5.49 per cent of the A shares of Huayi Compressor, for 177.5 million yuan. Its shareholding in the company fell to 9.27 per cent. (Hong Kong Economic Times A12)
I.T’s (999 HK) indirect wholly owned subsidiary I.T GL has entered into a shareholders agreement with Galeries Lafayette’s wholly owned subsidiary 44 GL to form a JV. The JV will establish and manage subsidiaries, which will set up, operate and manage department stores under the trademark of “Galeries Lafayette” in the PRC. (Hong Kong Economic Journal P6)
Mayer Holdings (1116 HK) has agreed to acquire port and property development business in Vietnam at a consideration of HK$620 million. HK$130 million of which will be paid by issuing and allotting consideration shares. HK$90 million and HK$300 million will be paid in the form of convertible bonds and by way of promissory notes respectively.
Parkson Retail (3368 HK) booked net profit of 230 million yuan in Q3, up 13.7 per cent yoy on the growth in same store sales. Net profit for the first 9 months rose 11 per cent yoy to 730 million yuan. Q3 same store sales growth was 10.9 per cent, up 3.4 percentage points over the same period last year. (SingTao Daily B4)
United Company RUSAL (486 HK) posted net profit of US$1.42 billion for the first 9 months, returning to the black. Revenue rose 37 per cent yoy to US$8.029 billion. Net profit went down 55 per cent yoy to US$29 million in Q3, worse than expectations. (SingTao Daily B4)
China Construction Bank (939 HK) announces the results of A-share rights issue. Of the issue of 630 million A shares, 94.23 per cent or about 594 million shares have been subscribed by A-share shareholders. The rights issue program was on the basis of 0.7 share for every 10 shares. (Hong Kong Economic Journal P1)
China Overseas Land & Investment (688 HK) recorded contracted sales of nearly HK$9 billion for the first ten months. After developing in Chengdu, Chongqing and Xi’an, the company is seeking opportunities to expand into the property market in Qunming, Yunnan Province. (Hong Kong Economic Times A10)
Long Success International (8017 HK) posted a profit of HK$2.54 million yuan for the half-year period ended Sep 30. Earnings per share was 0.0564 HK cent. No dividend was paid. The company lost HK$10.23 million last year, with loss per share amounting to 1.4 HK cents. (SingTao Daily B15)
Longrun Tea Group (2898 HK) expects to record a net profit for the six-month period ended 30 Sep 2010 as compared to a net loss of about HK$33.65 million for the corresponding period in 2009. The interim results announcement will be announced before the end of Nov. (SingTao Daily B15)
Mastermind Capital (905 HK) announces that it has appointed Tang Hao as an executive director and the chief executive officer, and Alan Mung Chiu-yu as an executive director, with effect from 12 Nov 2010. In addition, Mr. Benoit Descourtieux has resigned as an executive director of the company. (SingTao Daily B15)
Nanjing Sample Technology (8287 HK) booked a profit attributable to shareholders of 83.61 million yuan for the nine-month period ended Sep 30, increasing by 17.3 per cent over the same period last year. Earnings per share amounted to 37.3 fen. No dividend was declared. (SingTao Daily B15)
The Hong Kong and China Gas (3 HK) has agreed to take a placing of the placing shares placed by Enerchina Holdings (0622), a substantial shareholder of Towngas China Company Limited (1083), through Morgan Stanley at a consideration of HK$907.5 million (equivalent to HK$3.63 per placing share). (Hong Kong Economic Journal P1)
ECS Holdings Limited, a company listed on the SGX and an 89.66 per cent owned subsidiary of VST Holdings (856 HK), has announced that it posted a profit of SGD13.72 million for the quarter ended Sep 30, surging 33 per cent. (SingTao Daily B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
The CSRC has approved Dalian Port (PDA) (2880 HK) to issue not more than 1.5 billion A shares to the pubic in the mainland and its parent. Part of the shares will be consideration shares to be placed to its parent as the consideration for acquiring assets from its parent. (Hong Kong Economic Times A12)
Hisense Kelon Electrical (921 HK) has sold 17.83 million A shares of Huayi Compressor, around 5.49 per cent of the A shares of Huayi Compressor, for 177.5 million yuan. Its shareholding in the company fell to 9.27 per cent. (Hong Kong Economic Times A12)
I.T’s (999 HK) indirect wholly owned subsidiary I.T GL has entered into a shareholders agreement with Galeries Lafayette’s wholly owned subsidiary 44 GL to form a JV. The JV will establish and manage subsidiaries, which will set up, operate and manage department stores under the trademark of “Galeries Lafayette” in the PRC. (Hong Kong Economic Journal P6)
Mayer Holdings (1116 HK) has agreed to acquire port and property development business in Vietnam at a consideration of HK$620 million. HK$130 million of which will be paid by issuing and allotting consideration shares. HK$90 million and HK$300 million will be paid in the form of convertible bonds and by way of promissory notes respectively.
Parkson Retail (3368 HK) booked net profit of 230 million yuan in Q3, up 13.7 per cent yoy on the growth in same store sales. Net profit for the first 9 months rose 11 per cent yoy to 730 million yuan. Q3 same store sales growth was 10.9 per cent, up 3.4 percentage points over the same period last year. (SingTao Daily B4)
United Company RUSAL (486 HK) posted net profit of US$1.42 billion for the first 9 months, returning to the black. Revenue rose 37 per cent yoy to US$8.029 billion. Net profit went down 55 per cent yoy to US$29 million in Q3, worse than expectations. (SingTao Daily B4)
China Construction Bank (939 HK) announces the results of A-share rights issue. Of the issue of 630 million A shares, 94.23 per cent or about 594 million shares have been subscribed by A-share shareholders. The rights issue program was on the basis of 0.7 share for every 10 shares. (Hong Kong Economic Journal P1)
China Overseas Land & Investment (688 HK) recorded contracted sales of nearly HK$9 billion for the first ten months. After developing in Chengdu, Chongqing and Xi’an, the company is seeking opportunities to expand into the property market in Qunming, Yunnan Province. (Hong Kong Economic Times A10)
Long Success International (8017 HK) posted a profit of HK$2.54 million yuan for the half-year period ended Sep 30. Earnings per share was 0.0564 HK cent. No dividend was paid. The company lost HK$10.23 million last year, with loss per share amounting to 1.4 HK cents. (SingTao Daily B15)
Longrun Tea Group (2898 HK) expects to record a net profit for the six-month period ended 30 Sep 2010 as compared to a net loss of about HK$33.65 million for the corresponding period in 2009. The interim results announcement will be announced before the end of Nov. (SingTao Daily B15)
Mastermind Capital (905 HK) announces that it has appointed Tang Hao as an executive director and the chief executive officer, and Alan Mung Chiu-yu as an executive director, with effect from 12 Nov 2010. In addition, Mr. Benoit Descourtieux has resigned as an executive director of the company. (SingTao Daily B15)
Nanjing Sample Technology (8287 HK) booked a profit attributable to shareholders of 83.61 million yuan for the nine-month period ended Sep 30, increasing by 17.3 per cent over the same period last year. Earnings per share amounted to 37.3 fen. No dividend was declared. (SingTao Daily B15)
The Hong Kong and China Gas (3 HK) has agreed to take a placing of the placing shares placed by Enerchina Holdings (0622), a substantial shareholder of Towngas China Company Limited (1083), through Morgan Stanley at a consideration of HK$907.5 million (equivalent to HK$3.63 per placing share). (Hong Kong Economic Journal P1)
ECS Holdings Limited, a company listed on the SGX and an 89.66 per cent owned subsidiary of VST Holdings (856 HK), has announced that it posted a profit of SGD13.72 million for the quarter ended Sep 30, surging 33 per cent. (SingTao Daily B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, November 12, 2010
Hong Kong Stock Market Wrap November 11th, 2010
Alibaba.com (1688 HK) saw third- quarter net profit jump 55.1 percent yoy to 366 million yuan, benefiting from strong growth of its value-added services. Basic earnings per share soared 56.9 per cent yoy to 8.33 HK cents. Sales revenue reached 1.449 billion yuan, leaping 40.4 per cent yoy. (SingTao Daily B4)
Bluestar Adisseo Nutrition (1095 HK) kicked off roadshow yesterday. It will open its retail book on 18 Nov. According to its offer documents, it is unlikely that its profit as of the end of Dec will be less than 161 million euros. Its interim profit was 84.184 million euros, down 13.3 per cent yoy. (Hong Kong Economic Journal P14)
China Forestry (930 HK) plans to issue US$300 million senior notes due 2015, carrying an interest rate of 7.75 per cent per annum. The estimated net proceeds will amount to around US$292 million. (SingTao Daily B4)
China Gold International Resources (2099 HK) will start its IPO on 17 Nov. It plans to offer 53.66 million new shares at between HK$37.21 and HK$44.96 apiece. Maximum offer price a board lot of 100 shares is around HK$4541.3. (Hong Kong Economic Journal P14)
According to Chinese accounting standards, China Taiping Insurance (966 HK) announces that its accumulated premium income for the first ten months amounted to 28.315 billion yuan, rising around 56 per cent as compared to the corresponding period a year ago. (SingTao Daily B4)
IPO OVER 317X OVERSUBSCRIBED Market sources say that CITIC Dameng’s IPO (1091 HK) is over 317 times oversubscribed, locking in around 66.2 billion. It plans to fix the offer price at HK$2.75, the upper end of its price band. (Hong Kong Economic Journal P14)
Eagle Nice (International) (2368 HK) posted a net profit of HK$110 million for the interim period ended Sep 30, dropping 13.4 per cent over the same period of last year. The company is planning to pour a huge amount of capital into expanding production capacity and developing the ASEAN market.
Fantasia Holdings Group (1777 HK) achieved contracted sales revenue of 408 million yuan in Oct. Accumulated contracted amount for the first ten months was 2.699 billion yuan. (SingTao Daily B4)
HSBC Holdings’ (5 HK) subsidiary HSBC Trinkaus & Burkhardt saw pre-tax profit go up to €161.6 million for the first 3Qs. Net interest income dropped 10.8 per cent to €97 million. Net fee income rose 10 per cent to €289.7 million. (Hong Kong Economic Journal P14)
Kaisun Energy Group (8203 HK) has entered into an agreement with Saddleback Corporation Limited for the acquisition of the entire issued share capital of Saddleback Mining Limited, at a consideration of up to about US$39 million (around HK$300 million). Of this, HK$270 million will be satisfied by the issue and allotment of the initial shares to the vendor at a price of HK$0.75 each. (SingTao Daily B4)
Kingworld Medicines (1110 HK) offers 150 million new shares at between HK$1.33 and HK$1.6 each. Maximum offer price a board lot of 4000 shares is HK$6464.51. Offer period is 12-17 Nov. It will list on 25 Nov. (Hong Kong Economic Times A4)
KWG Property (1813 HK) and Hongkong Land China have successfully bid for a piece of land located in Chengdu for residential and commercial development purpose, at a price of 3.78 billion yuan. The land has a gross floor area of about 900,000 square meters, equivalent to HK$4,200 per square meter. (SingTao Daily B2)
Ping An Insurance (Group) (2318 HK) announces that the accumulated written premiums of its subsidiaries Ping An Life Insurance, Ping An Property & Casualty Insurance, Ping An Health Insurance and Ping An Annuity Insurance were 135.472 billion yuan, 50.192 billion yuan, 151 million yuan and 4.215 billion yuan respectively for the period from 1 Jan to 31 Oct. (Hong Kong Economic Journal P14)
Richfield Group (8136 HK) booked a profit of HK$42.56 million for the first quarter ended Sep 30, surging nearly 6 times over the same period of last year. No dividend was declared. Quarterly sales revenue jumped 3.2 times to HK$94 million. (SingTao Daily B4)
Market sources say that Shirble Department Store (312 HK), whose IPO was oversubscribed 26 times, plans to fix the issue price at HK$2.2, which is regarded by the industry as reasonable. (Hong Kong Economic Journal P14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bluestar Adisseo Nutrition (1095 HK) kicked off roadshow yesterday. It will open its retail book on 18 Nov. According to its offer documents, it is unlikely that its profit as of the end of Dec will be less than 161 million euros. Its interim profit was 84.184 million euros, down 13.3 per cent yoy. (Hong Kong Economic Journal P14)
China Forestry (930 HK) plans to issue US$300 million senior notes due 2015, carrying an interest rate of 7.75 per cent per annum. The estimated net proceeds will amount to around US$292 million. (SingTao Daily B4)
China Gold International Resources (2099 HK) will start its IPO on 17 Nov. It plans to offer 53.66 million new shares at between HK$37.21 and HK$44.96 apiece. Maximum offer price a board lot of 100 shares is around HK$4541.3. (Hong Kong Economic Journal P14)
According to Chinese accounting standards, China Taiping Insurance (966 HK) announces that its accumulated premium income for the first ten months amounted to 28.315 billion yuan, rising around 56 per cent as compared to the corresponding period a year ago. (SingTao Daily B4)
IPO OVER 317X OVERSUBSCRIBED Market sources say that CITIC Dameng’s IPO (1091 HK) is over 317 times oversubscribed, locking in around 66.2 billion. It plans to fix the offer price at HK$2.75, the upper end of its price band. (Hong Kong Economic Journal P14)
Eagle Nice (International) (2368 HK) posted a net profit of HK$110 million for the interim period ended Sep 30, dropping 13.4 per cent over the same period of last year. The company is planning to pour a huge amount of capital into expanding production capacity and developing the ASEAN market.
Fantasia Holdings Group (1777 HK) achieved contracted sales revenue of 408 million yuan in Oct. Accumulated contracted amount for the first ten months was 2.699 billion yuan. (SingTao Daily B4)
HSBC Holdings’ (5 HK) subsidiary HSBC Trinkaus & Burkhardt saw pre-tax profit go up to €161.6 million for the first 3Qs. Net interest income dropped 10.8 per cent to €97 million. Net fee income rose 10 per cent to €289.7 million. (Hong Kong Economic Journal P14)
Kaisun Energy Group (8203 HK) has entered into an agreement with Saddleback Corporation Limited for the acquisition of the entire issued share capital of Saddleback Mining Limited, at a consideration of up to about US$39 million (around HK$300 million). Of this, HK$270 million will be satisfied by the issue and allotment of the initial shares to the vendor at a price of HK$0.75 each. (SingTao Daily B4)
Kingworld Medicines (1110 HK) offers 150 million new shares at between HK$1.33 and HK$1.6 each. Maximum offer price a board lot of 4000 shares is HK$6464.51. Offer period is 12-17 Nov. It will list on 25 Nov. (Hong Kong Economic Times A4)
KWG Property (1813 HK) and Hongkong Land China have successfully bid for a piece of land located in Chengdu for residential and commercial development purpose, at a price of 3.78 billion yuan. The land has a gross floor area of about 900,000 square meters, equivalent to HK$4,200 per square meter. (SingTao Daily B2)
Ping An Insurance (Group) (2318 HK) announces that the accumulated written premiums of its subsidiaries Ping An Life Insurance, Ping An Property & Casualty Insurance, Ping An Health Insurance and Ping An Annuity Insurance were 135.472 billion yuan, 50.192 billion yuan, 151 million yuan and 4.215 billion yuan respectively for the period from 1 Jan to 31 Oct. (Hong Kong Economic Journal P14)
Richfield Group (8136 HK) booked a profit of HK$42.56 million for the first quarter ended Sep 30, surging nearly 6 times over the same period of last year. No dividend was declared. Quarterly sales revenue jumped 3.2 times to HK$94 million. (SingTao Daily B4)
Market sources say that Shirble Department Store (312 HK), whose IPO was oversubscribed 26 times, plans to fix the issue price at HK$2.2, which is regarded by the industry as reasonable. (Hong Kong Economic Journal P14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, November 11, 2010
Hong Kong Stock Market Wrap November 10th, 2010
(8095) BEIJING BEIDA JADE BIRD UNIVERSAL SCI-TECH COMPANY LIMITED
NINE-MONTH NET 64.66M YUAN
Beijing Beida Jade Bird recorded a net profit of 64.66 million yuan for the first nine months ended Sep 30, shooting up 6.5 times. Earning per share amounted to 5.46 fen. No dividend was declared.
(SingTao Daily B4)
(0814) BEIJING JINGKELONG COMPANY LIMITED
9-MONTH NET 140M YUAN
Beijing Jingkelong booked a net profit of 140 million yuan for the nine-month period ended Sep 30, rising 24 per cent year on year. Revenue increased by 9 percentage points to HK$5.45 billion yuan. Gross profit in the period amounted to 760 million yuan, climbing 7.3 per cent.
(SingTao Daily B4)
(1141) BEIJING YU SHENG TANG PHARMACEUTICAL GROUP LIMITED
PROPOSED PLACING OF SHARES
Beijing Yu Sheng Tang Pharmaceutical announces placing of around 1 billion shares at HK$0.32 apiece, around 5.88 per cent discount to yesterday’s closing price, to raise around HK$311.2 million.
(Hong Kong Economic Journal P6)
(1966) CHINA SCE PROPERTY HOLDINGS LIMITED
1ST 10-MONTH CONTRACTED SALES REVENUE 1.5B YUAN
China SCE Property achieved contracted sales revenue of 1.5 billion yuan for the first ten months, soaring 84 per cent year on year. The company launched a project of over 130 units in the Haicang District, Xiamen, of which over 75 per cent was sold on the first day, achieving contracted sales of 380 million yuan.
(SingTao Daily B4)
(0037) FAR EAST HOTELS AND ENTERTAINMENT LIMITED
ISSUES PROFIT WARNING
Far East Hotels And Entertainment expects to book a loss for the 6 months ended
30 Sep, mainly due to a decrease in fair value of held-for-trading investments. Shares fell 3.7 per cent to HK$0.26 yesterday.
(Hong Kong Economic Journal P6)
(3308) GOLDEN EAGLE RETAIL GROUP LIMITED
TO ACQUIRE XUZHOU STORE FOR 44.82M YUAN
Golden Eagle Retail Group has signed two agreements in respect of the acquisition of the 7th floor of a store in Xuzhou at a consideration of 44.82 million yuan, along with the lease of an additional retail area of around 14,600 sqm from Xianlin Golden Eagle Properties.
(SingTao Daily B4)
(0388) HONG KONG EXCHANGES AND CLEARING LIMITED
Q3 PROFIT HK$1.22B; BETTER THAN EXPECTED
HKEx posted a profit of HK$1.22 billion in the third quarter, slightly down 0.49 per cent, beating expectations.
Profit for the first three quarters reached HK$3.478 billion, up 2 per cent. Earnings per share was HK$3.23. Average daily transaction amounted to HK$6.31 billion. Shares of HKEx ended down HK$1.2 to HK$193 yesterday.
(SingTao Daily B2)
(0992) LENOVO GROUP LIMITED
PROFIT SURGES 2.5X TO HK$1.022B
Lenovo said that net profit for the six-month period ended Sep 30 was around HK$1.022 billion, surging 2.5 times year on year. Earnings per share amounted to 1.38 US cents. An interim dividend of 2.6 HK cents per share was recommended. Net profit for the second quarter went up 44 per cent, better than expected.
(SingTao Daily B4)
(0917) NEW WORLD CHINA LAND LIMITED
GRANT OF SHARE OPTIONS
New World China Land has granted share options carrying the rights to subscribe for 4.6544 million shares at an exercise price of HK$3.13 per share, same as yesterday’s closing price. They are exercisable for 5 years.
(Hong Kong Economic Journal P14)
(2378) PRUDENTIAL PLC
Q3 SALES UP 17%
Prudential posted Q3 sales of 809 million pounds, up 17 per cent yoy. Sales for the first 3Qs amounted to 2.46 billion pounds, up 24 per cent.
(Hong Kong Economic Times A12)
(0700) TENCENT HOLDINGS LIMITED
Q3 NET PROFIT UP 12% QOQ
Tencent Holdings recorded Q3 net profit of 2.153 billion yuan, up 51.6 per cent yoy, up 12.3 per cent qoq. Revenues rose 11.9 per cent qoq to 5.226 billion yuan. Active IM user accounts rose to 636 million, up 3.9 per cent qoq.
(Hong Kong Economic Times A10)
(0823) THE LINK MANAGEMENT LIMITED
INTERIM RESULTS
The Link Management saw revenue and net property income go up 7.5 per cent and 9.2 per cent yoy to HK$2.621 billion and HK$1.765 billion for the 6 months ended 30 Sep. Distributable income went up 11.1 per cent to HK$1.172 billion. Distribution per unit lifted 9.3 per cent to 52.86 HK cents.
(Hong Kong Economic Times A12)
(0806) VALUE PARTNERS GROUP LIMITED
SELLS CSI PROPERTIES SHARES FOR 8.5925 MILLION
Value Partners Group sold 38.88 million shares in CSI Properties (0497) at HK$0.221 each on average on 5 Nov, taking its shareholding in the company from 5.24 per cent to 4.77 per cent.
(Hong Kong Economic Journal P14)
(1001) VAN SHUNG CHONG HOLDINGS LIMITED
HALF-YEAR NET HK$22M
Van Shung Chong booked a net profit of around HK$22 million for the six-month period ended Sep 30, dropping 56 per cent. Basic earnings per share amounted to 5.3 HK cents. An interim dividend of 1.3 HK cents per share was distributed.
(SingTao Daily B4)
(8259) YANTAI NORTH ANDRE JUICE CO., LTD.
Q3 PROFIT 1.89M YUAN; RETURNS TO BLACK
Yantai North Andre Juice recorded a profit of about 1.89 million yuan for the third quarter ended Sep 30, returning to the black. Earnings per share amounted to 0.04 fen.
(SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
NINE-MONTH NET 64.66M YUAN
Beijing Beida Jade Bird recorded a net profit of 64.66 million yuan for the first nine months ended Sep 30, shooting up 6.5 times. Earning per share amounted to 5.46 fen. No dividend was declared.
(SingTao Daily B4)
(0814) BEIJING JINGKELONG COMPANY LIMITED
9-MONTH NET 140M YUAN
Beijing Jingkelong booked a net profit of 140 million yuan for the nine-month period ended Sep 30, rising 24 per cent year on year. Revenue increased by 9 percentage points to HK$5.45 billion yuan. Gross profit in the period amounted to 760 million yuan, climbing 7.3 per cent.
(SingTao Daily B4)
(1141) BEIJING YU SHENG TANG PHARMACEUTICAL GROUP LIMITED
PROPOSED PLACING OF SHARES
Beijing Yu Sheng Tang Pharmaceutical announces placing of around 1 billion shares at HK$0.32 apiece, around 5.88 per cent discount to yesterday’s closing price, to raise around HK$311.2 million.
(Hong Kong Economic Journal P6)
(1966) CHINA SCE PROPERTY HOLDINGS LIMITED
1ST 10-MONTH CONTRACTED SALES REVENUE 1.5B YUAN
China SCE Property achieved contracted sales revenue of 1.5 billion yuan for the first ten months, soaring 84 per cent year on year. The company launched a project of over 130 units in the Haicang District, Xiamen, of which over 75 per cent was sold on the first day, achieving contracted sales of 380 million yuan.
(SingTao Daily B4)
(0037) FAR EAST HOTELS AND ENTERTAINMENT LIMITED
ISSUES PROFIT WARNING
Far East Hotels And Entertainment expects to book a loss for the 6 months ended
30 Sep, mainly due to a decrease in fair value of held-for-trading investments. Shares fell 3.7 per cent to HK$0.26 yesterday.
(Hong Kong Economic Journal P6)
(3308) GOLDEN EAGLE RETAIL GROUP LIMITED
TO ACQUIRE XUZHOU STORE FOR 44.82M YUAN
Golden Eagle Retail Group has signed two agreements in respect of the acquisition of the 7th floor of a store in Xuzhou at a consideration of 44.82 million yuan, along with the lease of an additional retail area of around 14,600 sqm from Xianlin Golden Eagle Properties.
(SingTao Daily B4)
(0388) HONG KONG EXCHANGES AND CLEARING LIMITED
Q3 PROFIT HK$1.22B; BETTER THAN EXPECTED
HKEx posted a profit of HK$1.22 billion in the third quarter, slightly down 0.49 per cent, beating expectations.
Profit for the first three quarters reached HK$3.478 billion, up 2 per cent. Earnings per share was HK$3.23. Average daily transaction amounted to HK$6.31 billion. Shares of HKEx ended down HK$1.2 to HK$193 yesterday.
(SingTao Daily B2)
(0992) LENOVO GROUP LIMITED
PROFIT SURGES 2.5X TO HK$1.022B
Lenovo said that net profit for the six-month period ended Sep 30 was around HK$1.022 billion, surging 2.5 times year on year. Earnings per share amounted to 1.38 US cents. An interim dividend of 2.6 HK cents per share was recommended. Net profit for the second quarter went up 44 per cent, better than expected.
(SingTao Daily B4)
(0917) NEW WORLD CHINA LAND LIMITED
GRANT OF SHARE OPTIONS
New World China Land has granted share options carrying the rights to subscribe for 4.6544 million shares at an exercise price of HK$3.13 per share, same as yesterday’s closing price. They are exercisable for 5 years.
(Hong Kong Economic Journal P14)
(2378) PRUDENTIAL PLC
Q3 SALES UP 17%
Prudential posted Q3 sales of 809 million pounds, up 17 per cent yoy. Sales for the first 3Qs amounted to 2.46 billion pounds, up 24 per cent.
(Hong Kong Economic Times A12)
(0700) TENCENT HOLDINGS LIMITED
Q3 NET PROFIT UP 12% QOQ
Tencent Holdings recorded Q3 net profit of 2.153 billion yuan, up 51.6 per cent yoy, up 12.3 per cent qoq. Revenues rose 11.9 per cent qoq to 5.226 billion yuan. Active IM user accounts rose to 636 million, up 3.9 per cent qoq.
(Hong Kong Economic Times A10)
(0823) THE LINK MANAGEMENT LIMITED
INTERIM RESULTS
The Link Management saw revenue and net property income go up 7.5 per cent and 9.2 per cent yoy to HK$2.621 billion and HK$1.765 billion for the 6 months ended 30 Sep. Distributable income went up 11.1 per cent to HK$1.172 billion. Distribution per unit lifted 9.3 per cent to 52.86 HK cents.
(Hong Kong Economic Times A12)
(0806) VALUE PARTNERS GROUP LIMITED
SELLS CSI PROPERTIES SHARES FOR 8.5925 MILLION
Value Partners Group sold 38.88 million shares in CSI Properties (0497) at HK$0.221 each on average on 5 Nov, taking its shareholding in the company from 5.24 per cent to 4.77 per cent.
(Hong Kong Economic Journal P14)
(1001) VAN SHUNG CHONG HOLDINGS LIMITED
HALF-YEAR NET HK$22M
Van Shung Chong booked a net profit of around HK$22 million for the six-month period ended Sep 30, dropping 56 per cent. Basic earnings per share amounted to 5.3 HK cents. An interim dividend of 1.3 HK cents per share was distributed.
(SingTao Daily B4)
(8259) YANTAI NORTH ANDRE JUICE CO., LTD.
Q3 PROFIT 1.89M YUAN; RETURNS TO BLACK
Yantai North Andre Juice recorded a profit of about 1.89 million yuan for the third quarter ended Sep 30, returning to the black. Earnings per share amounted to 0.04 fen.
(SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, November 10, 2010
Hong Kong Stock Market Wrap November 9th, 2010
(3883) CHINA AOYUAN PROPERTY GROUP LIMITED
CONTRACTED SALES OF 2.8B YUAN
China Aoyuan Property recorded contracted sales of 2.8 billion yuan for the first 10 months. Oct contracted sales amounted to 500 million yuan.
(Hong Kong Economic Journal P9)
(0688) CHINA OVERSEAS LAND & INVESTMENT LIMITED
OCT SALES REVENUE 7.24B YUAN
China Overseas Land & Investment achieved sales revenue of 7.24 billion yuan in Oct, a 79.9 per cent surge year on year, but dropping 10 per cent as compared to Sep. Sales revenue for the first ten months amounted to 53.34 billion yuan in total, up 25.5 per cent year on year. (SingTao Daily B3)
(3311) CHINA STATE CONSTRUCTION INTERNATIONAL HOLDINGS LIMITED
NEWLY SIGNED CONTRACT VALUE 24.04B
China State Construction International recorded newly signed contract value of 24.04 billion for the first 10 months, up 97.7 per cent, achieving 120.2 per cent of the full-year target.
(Hong Kong Economic Journal P9)
(1091) CITIC DAMENG HOLDINGS LIMITED
IPO’S INTERNATIONAL TRANCHE OVER 15X OVERSUBSCRIBED
Market sources say that the international tranche of CITIC Dameng’s IPO was over 15 times oversubscribed. The retail tranche was equivalent to 56.6 times oversubscribed as margin financing orders of over 11.866 billion were recorded.
(Hong Kong Economic Times A12)
(1137) CITY TELECOM (H.K.) LIMITED
PROFIT GROWTH SLOWS; DIVIDEND HK13.5 CENTS
City Telecom saw net profit slightly go up 1.9 per cent to HK$216 million for the year ended 31 Aug 2010. Earnings per share amounted to HK30.7 cents. A final dividend of HK13.5 cents per share was recommended, down 15 per cent from the previous year.
(SingTao Daily B2)
(0861) DIGITAL CHINA HOLDINGS LIMITED
HALF-YEAR PROFIT HK$537M
Digital China posted a profit of HK$537 million for the six-month period ended Sep 30, representing a 30 per cent growth. Earnings per share amounted to HK$0.526. No dividend was declared.
(SingTao Daily B2)
(0175) GEELY AUTOMOBILE HOLDINGS LIMITED
OCT SALES VOLUME UP 37% YOY
Geely Automobile Holdings posted Oct total sales volume of 40,018 units of vehicles, up 37.2 per cent over the same period last year, up around 24.1 per cent over Sep. Total sales volume for the first 10 months reached 315,000 units of vehicles, up 27.8 per cent over the same period last year. 78.8 per cent of 2010 sales volume target of 400,000 units of vehicles was achieved.
(Hong Kong Economic Times A14)
(0379) PME GROUP LIMITED
TO ACQUIRE TERMINAL AND PORT OPERATIONS
PME Group plans to acquire 50 per cent equity interest in the target company for not higher than 500 million yuan. The target company is principally engaged in the provision of terminal and logistic services in Lanshan Harbour, Rizhao Port, Shandong Province.
(SingTao Daily B2)
(1238) POWERLONG REAL ESTATE HOLDINGS LIMITED
OCT CONTRACTED SALES 693M YUAN
Powerlong Real Estate recorded Oct contracted sales of 693 million yuan, the highest single month record this year. Sales area reached 113,600sqm. Sales for the first 10 months amounted to 3.033 billion yuan, with sales area of 420,500sqm.
(Hong Kong Economic Times A12)
(1928) SANDS CHINA LTD.
Q3 PROFIT UP 129% TO US$199M
Sands China posted a profit of US$199 million in the third quarter, soaring 129 per cent. Earnings per share amounted to 2.47 US cents.
The company also recorded a two-fold surge in profit for the first nine months, amounting to US$449 million. Earnings per share was 5.59 US cents.
(SingTao Daily B2)
(0700) TENCENT HOLDINGS LIMITED
ANNOUNCES Q3 RESULTS TODAY
Tencent Holdings announces Q3 results today. Deutsche Bank expects its Q3 net profit to go up 11 per cent qoq to 1.14 billion yuan, up 49 per cent yoy.
(Hong Kong Economic Times A12)
(1065) TIANJIN CAPITAL ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED
TO ACQUIRE SEWAGE WATER TREATMENT PLANTS’ ASSETS
Tianjin Capital Environment Protection Group seeks to acquire sewage water treatment plants’ assets from Tianjian Sewage Company. The consideration involves a deposit of around 262 million yuan and the outstanding amount of the principal loan and its accrued interest under the Asian Loan Agreement and the Japan Loan Agreement.
(SingTao Daily B2)
(0551) YUE YUEN INDUSTRIAL (HOLDINGS) LIMITED
OCT REVENUE
Yue Yuen Industrial posted net consolidated operating revenue of 532 million dollars in Oct, up 31.1 per cent yoy. The figure for the first 10 months amounted to 5.006 billion dollars, up 23.1 per cent yoy.
(Hong Kong Economic Times A12)
(0123) YUEXIU PROPERTY COMPANY LIMITED
OCT CONTRACTED SALES AREA 67,100 SQM
Yuexiu Property recorded contracted sales area of 67,100 square meters in Oct, down 62 per cent year on year, but rising 30 per cent month on month.
Contracted sales revenue in Oct was about 868 million yuan, dipping 61 per cent year on year, but leaping 24 per cent month on month.
(SingTao Daily B2)
(1628) YUZHOU PROPERTIES COMPANY LIMITED
PROPOSES TO ISSUE SENIOR NOTES
Yuzhou Properties intends to issue senior notes for repaying existing loans, providing capital for acquiring land reserve and for general operating purposes. Size of fundraising size will be confirmed later.
(SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
CONTRACTED SALES OF 2.8B YUAN
China Aoyuan Property recorded contracted sales of 2.8 billion yuan for the first 10 months. Oct contracted sales amounted to 500 million yuan.
(Hong Kong Economic Journal P9)
(0688) CHINA OVERSEAS LAND & INVESTMENT LIMITED
OCT SALES REVENUE 7.24B YUAN
China Overseas Land & Investment achieved sales revenue of 7.24 billion yuan in Oct, a 79.9 per cent surge year on year, but dropping 10 per cent as compared to Sep. Sales revenue for the first ten months amounted to 53.34 billion yuan in total, up 25.5 per cent year on year. (SingTao Daily B3)
(3311) CHINA STATE CONSTRUCTION INTERNATIONAL HOLDINGS LIMITED
NEWLY SIGNED CONTRACT VALUE 24.04B
China State Construction International recorded newly signed contract value of 24.04 billion for the first 10 months, up 97.7 per cent, achieving 120.2 per cent of the full-year target.
(Hong Kong Economic Journal P9)
(1091) CITIC DAMENG HOLDINGS LIMITED
IPO’S INTERNATIONAL TRANCHE OVER 15X OVERSUBSCRIBED
Market sources say that the international tranche of CITIC Dameng’s IPO was over 15 times oversubscribed. The retail tranche was equivalent to 56.6 times oversubscribed as margin financing orders of over 11.866 billion were recorded.
(Hong Kong Economic Times A12)
(1137) CITY TELECOM (H.K.) LIMITED
PROFIT GROWTH SLOWS; DIVIDEND HK13.5 CENTS
City Telecom saw net profit slightly go up 1.9 per cent to HK$216 million for the year ended 31 Aug 2010. Earnings per share amounted to HK30.7 cents. A final dividend of HK13.5 cents per share was recommended, down 15 per cent from the previous year.
(SingTao Daily B2)
(0861) DIGITAL CHINA HOLDINGS LIMITED
HALF-YEAR PROFIT HK$537M
Digital China posted a profit of HK$537 million for the six-month period ended Sep 30, representing a 30 per cent growth. Earnings per share amounted to HK$0.526. No dividend was declared.
(SingTao Daily B2)
(0175) GEELY AUTOMOBILE HOLDINGS LIMITED
OCT SALES VOLUME UP 37% YOY
Geely Automobile Holdings posted Oct total sales volume of 40,018 units of vehicles, up 37.2 per cent over the same period last year, up around 24.1 per cent over Sep. Total sales volume for the first 10 months reached 315,000 units of vehicles, up 27.8 per cent over the same period last year. 78.8 per cent of 2010 sales volume target of 400,000 units of vehicles was achieved.
(Hong Kong Economic Times A14)
(0379) PME GROUP LIMITED
TO ACQUIRE TERMINAL AND PORT OPERATIONS
PME Group plans to acquire 50 per cent equity interest in the target company for not higher than 500 million yuan. The target company is principally engaged in the provision of terminal and logistic services in Lanshan Harbour, Rizhao Port, Shandong Province.
(SingTao Daily B2)
(1238) POWERLONG REAL ESTATE HOLDINGS LIMITED
OCT CONTRACTED SALES 693M YUAN
Powerlong Real Estate recorded Oct contracted sales of 693 million yuan, the highest single month record this year. Sales area reached 113,600sqm. Sales for the first 10 months amounted to 3.033 billion yuan, with sales area of 420,500sqm.
(Hong Kong Economic Times A12)
(1928) SANDS CHINA LTD.
Q3 PROFIT UP 129% TO US$199M
Sands China posted a profit of US$199 million in the third quarter, soaring 129 per cent. Earnings per share amounted to 2.47 US cents.
The company also recorded a two-fold surge in profit for the first nine months, amounting to US$449 million. Earnings per share was 5.59 US cents.
(SingTao Daily B2)
(0700) TENCENT HOLDINGS LIMITED
ANNOUNCES Q3 RESULTS TODAY
Tencent Holdings announces Q3 results today. Deutsche Bank expects its Q3 net profit to go up 11 per cent qoq to 1.14 billion yuan, up 49 per cent yoy.
(Hong Kong Economic Times A12)
(1065) TIANJIN CAPITAL ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED
TO ACQUIRE SEWAGE WATER TREATMENT PLANTS’ ASSETS
Tianjin Capital Environment Protection Group seeks to acquire sewage water treatment plants’ assets from Tianjian Sewage Company. The consideration involves a deposit of around 262 million yuan and the outstanding amount of the principal loan and its accrued interest under the Asian Loan Agreement and the Japan Loan Agreement.
(SingTao Daily B2)
(0551) YUE YUEN INDUSTRIAL (HOLDINGS) LIMITED
OCT REVENUE
Yue Yuen Industrial posted net consolidated operating revenue of 532 million dollars in Oct, up 31.1 per cent yoy. The figure for the first 10 months amounted to 5.006 billion dollars, up 23.1 per cent yoy.
(Hong Kong Economic Times A12)
(0123) YUEXIU PROPERTY COMPANY LIMITED
OCT CONTRACTED SALES AREA 67,100 SQM
Yuexiu Property recorded contracted sales area of 67,100 square meters in Oct, down 62 per cent year on year, but rising 30 per cent month on month.
Contracted sales revenue in Oct was about 868 million yuan, dipping 61 per cent year on year, but leaping 24 per cent month on month.
(SingTao Daily B2)
(1628) YUZHOU PROPERTIES COMPANY LIMITED
PROPOSES TO ISSUE SENIOR NOTES
Yuzhou Properties intends to issue senior notes for repaying existing loans, providing capital for acquiring land reserve and for general operating purposes. Size of fundraising size will be confirmed later.
(SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap November 8th, 2010
(1224) C C LAND HOLDINGS LIMITED
OCT SALES UP 1.45X
C C Land Holdings recorded Oct sales of 614 million yuan, up 1.45 times yoy. Area amounted to 76,500sqm, up 98 per cent. Sales reached 5.277 billion yuan for the first 10 months, with area of 704,000sqm.
(Hong Kong Economic Times A14)
(0775) CK LIFE SCIENCES INT’L,. (HOLDINGS) INC.
TO ACQUIRE CWT FOR HK$260M
CK Life Sciences Int’l plans to acquire 72.26 per cent equity interest in Challenger Wine Trust, a trust holding vineyard business across Australia and New Zealand, at a transfer price of AUD0.24 (around HK$1.89) per unit, involving around HK$260 million in total. Upon completion of the acquisition, the vineyard assets will bring in recurrent cash flow for the company.
(SingTao Daily B3)
(0025) CHEVALIER INTERNATIONAL HOLDINGS LIMITED
CANCELS ACQUISITION OF MINING PROJECT IN PHILIPPINES
Chevalier International and subsidiary Chevalier Pacific (0508) jointly announce that the proposed acquisition of interests in a mining project in the Philippines has been terminated.
In addition, Amy Fan Li-zhen and Frankie Cheung Ka-heng have tender their position as executive directors of Chevalier Pacific. Trading in shares of both companies will resume today.
(SingTao Daily B3)
(2877) CHINA SHINEWAY PHARMACEUTICAL GROUP LIMITED
JAN-SEP TURNOVER 1.407B YUAN
China Shineway Pharmaceutical Group announces that turnover for the first nine months amounted to around 1.407 billion yuan, leaping 25.7 per cent year on year.
(SingTao Daily B3)
(1668) CHINA SOUTH CITY HOLDINGS LIMITED
INTERIM NET UP 41.3%
China South City saw profit rise 41.3 per cent yoy to HK$347 million for the 6 months ended 30 Sep. Revenue went up 136.6 per cent yoy to HK$590 million. Gross profit margin rose 17 percentage points to 56.2 per cent. No interim dividend was declared.
(Hong Kong Economic Journal P11)
(3333) EVERGRANDE REAL ESTATE GROUP LIMITED
1ST 10-MONTH CONTRACTED SALES 41.1B YUAN
Evergrande Real Estate has reached its full-year sales target of 40 billion yuan, well ahead of schedule. Its contracted sales in the first 10 months brought in 41.1 billion yuan, surging 74 per cent year on year. Chairman Hui Ka-yan expects contracted sales amount of 2010 to reach 50 billion yuan,
(SingTao Daily B2)
(0885) FOREFRONT GROUP LIMITED
ASSOCIATE PROPOSES TO LIST ON GEM
Forefront Group was informed by one of its associated companies that it aims to list on the Hong Kong Stock Exchange. The associate will apply for the listing on the growth enterprise market next year.
(SingTao Daily B3)
(0778) FORTUNE REAL ESTATE INVESTMENT TRUST
Q3 DISTRIBUTABLE INCOME HK$96.25M
Manager of Fortune Real Estate Investment Trust announces that the distributable income for the third quarter was HK$96.25 million, rising 18.5 per cent. Unit holders was distributed 5.76 HK cents per fund unit.
(SingTao Daily B3)
(0818) HI SUN TECHNOLOGY (CHINA) LIMITED
PLANS TO SPIN OFF AND FLOAT SUBSIDIARY
Hi Sun Technology (China) plans to spin off and separately list PAX Global Technology and expects to recognize a gain of up to HK$908 million. Its interest in PAX will be reduced from 100 per cent to about 40 per cent.
(Hong Kong Economic Journal P4)
(2314) LEE & MAN PAPER MANUFACTURING LIMITED
INTERIM NET HIT NEW HIGH
Lee & Man Paper Manufacturing saw net profit increase 3 per cent to HK$839 million for the 6 months ended 30 Sep. Revenue went up 36.3 per cent yoy to HK$6.9 billion. Interim dividend of 6 HK cents per share was declared.
(Hong Kong Economic Times A12)
(0842) LEOCH INTERNATIONAL TECHNOLOGY LIMITED
FREEZES HK$46.7B
Leoch International Technology closed its retail book yesterday. Market sources say its IPO was around 258 times oversubscribed and it freezed around HK$46.7 billion. (Hong Kong Economic Times A12)
(0332) NGAI LIK INDUSTRIAL HOLDINGS LIMITED
KEY SHAREHOLDER TO SELL 71.48% INTEREST
Ngai Lik Industrial announces that key shareholder Success Pioneer is planning to dispose of its 71.48 per cent interest in the company to Frontier Global Group formed by mainland enterprisers including Wang Jian-qing. The transaction price is equivalent to a price of HK$0.0314 per share. (SingTao Daily B3)
(0767) PACIFIC PLYWOOD HOLDINGS LIMITED
TO DISPOSE OF 3 COMPANIES FOR HK$5M
Pacific Plywood proposes to dispose of three companies, AHL, GTL and SGB, which have suffered losses for over two years and are under the condition of net liabilities. The consideration for the disposal is HK$5 million. The company expects the deal to book a paper gain of around HK$157.25 million. (SingTao Daily B3)
(0880) SJM HOLDINGS LIMITED
Q3 NET UP 5.28X
SJM Holdings booked Q3 net profit of HK$867 million, up 5.28 times yoy. Adjusted EBITDA was HK$1.178 billion, up 1.35 times, meeting expectations. Shares closed at HK$12.16 yesterday, down 1.6 per cent. (Hong Kong Economic Journal P6)
(0083) SINO LAND COMPANY LIMITED
PLACES 242M SHARES
Sino Land Company places 242 million shares at HK$16.6-17.1 each, 6.5-9.2 per cent discount to yesterday’s closing price of HK$18.28, to raise HK$4.0172 billion- 4.1382 billion. Placing agent is Goldman Sachs. (Hong Kong Economic Journal P4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
OCT SALES UP 1.45X
C C Land Holdings recorded Oct sales of 614 million yuan, up 1.45 times yoy. Area amounted to 76,500sqm, up 98 per cent. Sales reached 5.277 billion yuan for the first 10 months, with area of 704,000sqm.
(Hong Kong Economic Times A14)
(0775) CK LIFE SCIENCES INT’L,. (HOLDINGS) INC.
TO ACQUIRE CWT FOR HK$260M
CK Life Sciences Int’l plans to acquire 72.26 per cent equity interest in Challenger Wine Trust, a trust holding vineyard business across Australia and New Zealand, at a transfer price of AUD0.24 (around HK$1.89) per unit, involving around HK$260 million in total. Upon completion of the acquisition, the vineyard assets will bring in recurrent cash flow for the company.
(SingTao Daily B3)
(0025) CHEVALIER INTERNATIONAL HOLDINGS LIMITED
CANCELS ACQUISITION OF MINING PROJECT IN PHILIPPINES
Chevalier International and subsidiary Chevalier Pacific (0508) jointly announce that the proposed acquisition of interests in a mining project in the Philippines has been terminated.
In addition, Amy Fan Li-zhen and Frankie Cheung Ka-heng have tender their position as executive directors of Chevalier Pacific. Trading in shares of both companies will resume today.
(SingTao Daily B3)
(2877) CHINA SHINEWAY PHARMACEUTICAL GROUP LIMITED
JAN-SEP TURNOVER 1.407B YUAN
China Shineway Pharmaceutical Group announces that turnover for the first nine months amounted to around 1.407 billion yuan, leaping 25.7 per cent year on year.
(SingTao Daily B3)
(1668) CHINA SOUTH CITY HOLDINGS LIMITED
INTERIM NET UP 41.3%
China South City saw profit rise 41.3 per cent yoy to HK$347 million for the 6 months ended 30 Sep. Revenue went up 136.6 per cent yoy to HK$590 million. Gross profit margin rose 17 percentage points to 56.2 per cent. No interim dividend was declared.
(Hong Kong Economic Journal P11)
(3333) EVERGRANDE REAL ESTATE GROUP LIMITED
1ST 10-MONTH CONTRACTED SALES 41.1B YUAN
Evergrande Real Estate has reached its full-year sales target of 40 billion yuan, well ahead of schedule. Its contracted sales in the first 10 months brought in 41.1 billion yuan, surging 74 per cent year on year. Chairman Hui Ka-yan expects contracted sales amount of 2010 to reach 50 billion yuan,
(SingTao Daily B2)
(0885) FOREFRONT GROUP LIMITED
ASSOCIATE PROPOSES TO LIST ON GEM
Forefront Group was informed by one of its associated companies that it aims to list on the Hong Kong Stock Exchange. The associate will apply for the listing on the growth enterprise market next year.
(SingTao Daily B3)
(0778) FORTUNE REAL ESTATE INVESTMENT TRUST
Q3 DISTRIBUTABLE INCOME HK$96.25M
Manager of Fortune Real Estate Investment Trust announces that the distributable income for the third quarter was HK$96.25 million, rising 18.5 per cent. Unit holders was distributed 5.76 HK cents per fund unit.
(SingTao Daily B3)
(0818) HI SUN TECHNOLOGY (CHINA) LIMITED
PLANS TO SPIN OFF AND FLOAT SUBSIDIARY
Hi Sun Technology (China) plans to spin off and separately list PAX Global Technology and expects to recognize a gain of up to HK$908 million. Its interest in PAX will be reduced from 100 per cent to about 40 per cent.
(Hong Kong Economic Journal P4)
(2314) LEE & MAN PAPER MANUFACTURING LIMITED
INTERIM NET HIT NEW HIGH
Lee & Man Paper Manufacturing saw net profit increase 3 per cent to HK$839 million for the 6 months ended 30 Sep. Revenue went up 36.3 per cent yoy to HK$6.9 billion. Interim dividend of 6 HK cents per share was declared.
(Hong Kong Economic Times A12)
(0842) LEOCH INTERNATIONAL TECHNOLOGY LIMITED
FREEZES HK$46.7B
Leoch International Technology closed its retail book yesterday. Market sources say its IPO was around 258 times oversubscribed and it freezed around HK$46.7 billion. (Hong Kong Economic Times A12)
(0332) NGAI LIK INDUSTRIAL HOLDINGS LIMITED
KEY SHAREHOLDER TO SELL 71.48% INTEREST
Ngai Lik Industrial announces that key shareholder Success Pioneer is planning to dispose of its 71.48 per cent interest in the company to Frontier Global Group formed by mainland enterprisers including Wang Jian-qing. The transaction price is equivalent to a price of HK$0.0314 per share. (SingTao Daily B3)
(0767) PACIFIC PLYWOOD HOLDINGS LIMITED
TO DISPOSE OF 3 COMPANIES FOR HK$5M
Pacific Plywood proposes to dispose of three companies, AHL, GTL and SGB, which have suffered losses for over two years and are under the condition of net liabilities. The consideration for the disposal is HK$5 million. The company expects the deal to book a paper gain of around HK$157.25 million. (SingTao Daily B3)
(0880) SJM HOLDINGS LIMITED
Q3 NET UP 5.28X
SJM Holdings booked Q3 net profit of HK$867 million, up 5.28 times yoy. Adjusted EBITDA was HK$1.178 billion, up 1.35 times, meeting expectations. Shares closed at HK$12.16 yesterday, down 1.6 per cent. (Hong Kong Economic Journal P6)
(0083) SINO LAND COMPANY LIMITED
PLACES 242M SHARES
Sino Land Company places 242 million shares at HK$16.6-17.1 each, 6.5-9.2 per cent discount to yesterday’s closing price of HK$18.28, to raise HK$4.0172 billion- 4.1382 billion. Placing agent is Goldman Sachs. (Hong Kong Economic Journal P4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, November 8, 2010
Hong Kong Stock Market Wrap November 5th, 2010
Easyknit Enterprise (616 HK) expects the half-year results ended Sep 30 to record a profit as compared to a loss for the corresponding period of last year. Such profit was mainly attributable to the commencement of the new business on garment sourcing and exporting. (SingTao Daily B3)
Franshion Properties (817 HK) plans to inject 1 billion yuan of the registered capital into Lanhai Xingang City Project in Qingdao, seeking to hold a 50 per cent equity interest in the project. It also intends to provide a shareholder’s loan of 1.235 billion yuan to finance the project development. (SingTao Daily B3)
Guangzhou R&F (2777 HK) have partnered with KWG Property (1813) to acquire 70 per cent interest in a property project in Shanghai, for a consideration of US$353.5 million (around HK$2.757 billion). The project properties include a residential development named California Place Shanghai located at New Jiangwan Town, Yangpu District, Shanghai. (Hong Kong Economic Times A2)
Lai Sun Development (488 HK) booked a net profit attributable to shareholders of HK$2.064 billion for the year ended 31 Jul 2010, returning to the black. Turnover was HK$729 million during the period. Earnings per share amounted to 14.58 HK cents. No final dividend was declared.
(Hong Kong Economic Journal P7)
Powerleader Science & Technology Group (8236 HK) saw its third-quarter net profit soar over 100 per cent to 10.71 million yuan. Net profit for the first nine months reached 129 million yuan, shooting up 4.56 times year on year. Earnings per share amounted to 5.74 fen.
Qunxing Paper (3868 HK) proposes to raise about HK$349 million by launching an open offer on the basis of one offer share for every two existing shares. The subscription price of HK$0.66 per share represents a material discount of over 80 per cent to its closing price yesterday. The company intends to utilize the proceeds for the general working capital. (SingTao Daily B3)
Z-Obee Holdings (948 HK) recorded a net profit of US$3.5086 million for the six-month period ended Sep 30, rising 75 per cent year on year. Earnings per share amounted to 0.59 US cents. No interim dividend was distributed. (SingTao Daily B3)
Beijing Beida (*095 HK) has disposed of an aggregate of 5 million shares of ZJJ Tourism on Oct 27 and Nov 2 at fair value for around 40.5 million yuan in total. The disposals are expected to accrue a gain before tax of about 12.4 million yuan, which will be used for the purpose of working capital. (SingTao Daily B17)
Glorious Property (845 HK) announces the contracted sales in Oct rose 20.2 per cent to 1.958 billion yuan, with a contracted sales area of 166,000 square meters, increasing by 22.6 per cent from Sep. (Hong Kong Economic Times A11)
Interchina Tianjin (202 HK), a wholly-owned subsidiary of Interchina Holdings, has entered into a framework agreement with Beian City, Heilongjiang Province, in respect of the proposed formation of the JV with a total investment amount of 500 million yuan. The JV will be principally engaged in the exploration, processing and sale of natural soda water. (Hong Kong Economic Journal P10)
IRC (1029 HK) announces that the stabilizing period in connection with the global offering ended on 5 Nov 2010. The over-allotment option has not been exercised during the period and lapsed on 5 Nov 2010. But the company has bought around 130 million shares in total during the period at a price ranging from HK$1.6 to HK$1.8 per share, to cover over-allocations in the international offering. (Hong Kong Economic Journal P10)
As of 30 Sep 2010, Longfor Properties (960 HK) achieved contracted sales of 18.72 billion yuan, accounting for 76 per cent of the full-year sales target. It has met the full-year target of contracted sales of 24.8 billion yuan in the beginning of Nov. (Hong Kong Economic Times A11)
Lumena Resources (1180 HK) aims to acquire PPS resin production business from major shareholders, at a consideration of HK$11.053 billion, 90 per cent of which will be satisfied by new shares. Shares of the company resume trading today. (SingTao Daily B17)
Ping An Trust (2318 HK), subsidiary of Ping An Insurance (Group), expects to become the best brand of wealth management in the mainland within 10 years. Ping An Trust expects clients of its trust business to reach 100,000 clients. (SingTao Daily B17)
Poly (Hong Kong) Investments’ (119 HK) contracted sales amount in Oct amounted to 1.7 billion yuan, surging 183 per cent over the same period a year ago. Sales area reached 180,000 square meters, leaping 157 per cent from the same period last year. The company is confident to meet the full year sales target of 10 billion yuan. (Hong Kong Economic Times A11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Franshion Properties (817 HK) plans to inject 1 billion yuan of the registered capital into Lanhai Xingang City Project in Qingdao, seeking to hold a 50 per cent equity interest in the project. It also intends to provide a shareholder’s loan of 1.235 billion yuan to finance the project development. (SingTao Daily B3)
Guangzhou R&F (2777 HK) have partnered with KWG Property (1813) to acquire 70 per cent interest in a property project in Shanghai, for a consideration of US$353.5 million (around HK$2.757 billion). The project properties include a residential development named California Place Shanghai located at New Jiangwan Town, Yangpu District, Shanghai. (Hong Kong Economic Times A2)
Lai Sun Development (488 HK) booked a net profit attributable to shareholders of HK$2.064 billion for the year ended 31 Jul 2010, returning to the black. Turnover was HK$729 million during the period. Earnings per share amounted to 14.58 HK cents. No final dividend was declared.
(Hong Kong Economic Journal P7)
Powerleader Science & Technology Group (8236 HK) saw its third-quarter net profit soar over 100 per cent to 10.71 million yuan. Net profit for the first nine months reached 129 million yuan, shooting up 4.56 times year on year. Earnings per share amounted to 5.74 fen.
Qunxing Paper (3868 HK) proposes to raise about HK$349 million by launching an open offer on the basis of one offer share for every two existing shares. The subscription price of HK$0.66 per share represents a material discount of over 80 per cent to its closing price yesterday. The company intends to utilize the proceeds for the general working capital. (SingTao Daily B3)
Z-Obee Holdings (948 HK) recorded a net profit of US$3.5086 million for the six-month period ended Sep 30, rising 75 per cent year on year. Earnings per share amounted to 0.59 US cents. No interim dividend was distributed. (SingTao Daily B3)
Beijing Beida (*095 HK) has disposed of an aggregate of 5 million shares of ZJJ Tourism on Oct 27 and Nov 2 at fair value for around 40.5 million yuan in total. The disposals are expected to accrue a gain before tax of about 12.4 million yuan, which will be used for the purpose of working capital. (SingTao Daily B17)
Glorious Property (845 HK) announces the contracted sales in Oct rose 20.2 per cent to 1.958 billion yuan, with a contracted sales area of 166,000 square meters, increasing by 22.6 per cent from Sep. (Hong Kong Economic Times A11)
Interchina Tianjin (202 HK), a wholly-owned subsidiary of Interchina Holdings, has entered into a framework agreement with Beian City, Heilongjiang Province, in respect of the proposed formation of the JV with a total investment amount of 500 million yuan. The JV will be principally engaged in the exploration, processing and sale of natural soda water. (Hong Kong Economic Journal P10)
IRC (1029 HK) announces that the stabilizing period in connection with the global offering ended on 5 Nov 2010. The over-allotment option has not been exercised during the period and lapsed on 5 Nov 2010. But the company has bought around 130 million shares in total during the period at a price ranging from HK$1.6 to HK$1.8 per share, to cover over-allocations in the international offering. (Hong Kong Economic Journal P10)
As of 30 Sep 2010, Longfor Properties (960 HK) achieved contracted sales of 18.72 billion yuan, accounting for 76 per cent of the full-year sales target. It has met the full-year target of contracted sales of 24.8 billion yuan in the beginning of Nov. (Hong Kong Economic Times A11)
Lumena Resources (1180 HK) aims to acquire PPS resin production business from major shareholders, at a consideration of HK$11.053 billion, 90 per cent of which will be satisfied by new shares. Shares of the company resume trading today. (SingTao Daily B17)
Ping An Trust (2318 HK), subsidiary of Ping An Insurance (Group), expects to become the best brand of wealth management in the mainland within 10 years. Ping An Trust expects clients of its trust business to reach 100,000 clients. (SingTao Daily B17)
Poly (Hong Kong) Investments’ (119 HK) contracted sales amount in Oct amounted to 1.7 billion yuan, surging 183 per cent over the same period a year ago. Sales area reached 180,000 square meters, leaping 157 per cent from the same period last year. The company is confident to meet the full year sales target of 10 billion yuan. (Hong Kong Economic Times A11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap November 4th, 2010
IPO: It is said that China Hongqiao, producer of aluminum hydroxide, plans to go through listing hearing in mid-Nov to raise around 11.7 billion. JP Morgan, ICBC International, Bankcomm and BNP Paribas sponsor the IPO. (Hong Kong Economic Journal P10)
Agile Property Holdings (3383 HK) recorded contracted sales of 22.6 billion yuan for the first 10 months. 91 per cent of its full-year contract target was achieved. Contracted sales area reached around 2.05 million sqm. Oct contracted sales was 5.4 billion yuan, with contracted sales areas of 410,000 sqm. (Hong Kong Economic Times A15)
China Southern Airlines (1055 HK) intends to acquire six Airbus A330 aircraft and 30 Airbus A320 series aircraft from Airbus SNC for around HK$29.3 billion. The total consideration of US$3.78 billion will be partly payable by cash and partly by financing arrangements with banking institutions. The company expects the Airbus aircraft to increase its available tonne kilometers by 14 per cent. (SingTao Daily B3)
Convenience Retail (8052 HK) Asia posted a net profit of HK$104 million for the first nine months ended Sep 30, surging over 61 per cent year on year. Earnings per share amounted to 14.18 HK cents. No third-quarter dividend was declared. (SingTao Daily B3)
Country Garden (2007 HK) booked a 42 per cent increase in contracted sales revenue for Oct, amounting to 5.1 billion yuan. Contracted sales revenue for the first ten months was 26.9 billion yuan, leaping 65 per cent over the same period last year. (SingTao Daily B3)
Crocodile Garments’ (122 HK) recorded a net profit of HK$163 million for the year ended 31 Jul 2010, rising over 14 per cent. No dividend was distributed. (SingTao Daily B3)
Evergreen International Holdings (238 HK) first listed on the bourse yesterday. Share price opened at HK$6, had reached as high as HK$6.31 and closed at HK$5.8, 26.08 per cent higher then its IPO price of HK$4.6. Without taking charges into consideration, shareholders gained HK$1200 for a lot of 1000 shares. (Hong Kong Economic Journal P10)
Hong Kong Exchanges and Clearing’s (388 HK) share price has gone up to HK$184.8, almost 3-year high. Although investment bank Credit Suisse expects its Q3 results to go backwards, it is optimistic about its outlook, maintaining a target price of HK$197. (Hong Kong Economic Journal P8)
HSBC Canada reported a net profit of CAD$89 million for the third quarter, down 11.9 per cent from the same period a year ago. Its net profit for the first three quarters rose 8.3 per cent year on year to CAD$325 million. (SingTao Daily B3)
King Stone Energy (663 HK) plans to acquire a company that sells products including coal and has coal-related clean energy technology at a consideration of HK$3.54 billion. After that, it will hold 60 per cent equity interest in a controlling company of 2 coal mine projects in Shanyin County, Shuozhou City, Shanxi. (Hong Kong Economic Journal P10)
Manulife Financial (945 HK) booked net loss of C$947 million in Q3. Total revenue was C$13.14 billion, down 4.5 per cent yoy. A quarterly dividend of C$0.13 per share was declared. (Hong Kong Economic Times A14)
Mongolia Energy (276 HK) has signed agreement with OZ Management LP for issuing HK$466.8 million worth 3.5 per cent coupon 3-year convertible notes, totaling HK$778 million. The initial conversion price is HK$3.4 per share, representing a premium of 11.48 per cent to its closing price on Nov 3. (SingTao Daily B3)
Shirble Department Store (312 HK) plans to offer up to 625 million shares at an offer price ranging between HK$1.85 to HK$2.55 each to raise 1.156 billion to 1.594 billion. It kicks off its IPO today and will list on 17 Nov. Maximum offer price a lot amounted to HK$5151.4. (Hong Kong Economic Journal P10)
Sunrise Electronic Industry Limited (2000 HK), a wholly-owned subsidiary of the company, plans to sell 40 per cent equity interest of SIM Real Estate to Beijing Telecom Real Estate Development Corporation, at a consideration of US$8 million. (SingTao Daily B3)
Sino Union Energy (346 HK) has entered into an agreement with Asia Private Credit Fund Limited for the subscription of 206 million shares at HK$0.675 apiece, representing a discount of around 0.74 per cent to its closing price yesterday. The net proceeds will be around HK$139 million. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Agile Property Holdings (3383 HK) recorded contracted sales of 22.6 billion yuan for the first 10 months. 91 per cent of its full-year contract target was achieved. Contracted sales area reached around 2.05 million sqm. Oct contracted sales was 5.4 billion yuan, with contracted sales areas of 410,000 sqm. (Hong Kong Economic Times A15)
China Southern Airlines (1055 HK) intends to acquire six Airbus A330 aircraft and 30 Airbus A320 series aircraft from Airbus SNC for around HK$29.3 billion. The total consideration of US$3.78 billion will be partly payable by cash and partly by financing arrangements with banking institutions. The company expects the Airbus aircraft to increase its available tonne kilometers by 14 per cent. (SingTao Daily B3)
Convenience Retail (8052 HK) Asia posted a net profit of HK$104 million for the first nine months ended Sep 30, surging over 61 per cent year on year. Earnings per share amounted to 14.18 HK cents. No third-quarter dividend was declared. (SingTao Daily B3)
Country Garden (2007 HK) booked a 42 per cent increase in contracted sales revenue for Oct, amounting to 5.1 billion yuan. Contracted sales revenue for the first ten months was 26.9 billion yuan, leaping 65 per cent over the same period last year. (SingTao Daily B3)
Crocodile Garments’ (122 HK) recorded a net profit of HK$163 million for the year ended 31 Jul 2010, rising over 14 per cent. No dividend was distributed. (SingTao Daily B3)
Evergreen International Holdings (238 HK) first listed on the bourse yesterday. Share price opened at HK$6, had reached as high as HK$6.31 and closed at HK$5.8, 26.08 per cent higher then its IPO price of HK$4.6. Without taking charges into consideration, shareholders gained HK$1200 for a lot of 1000 shares. (Hong Kong Economic Journal P10)
Hong Kong Exchanges and Clearing’s (388 HK) share price has gone up to HK$184.8, almost 3-year high. Although investment bank Credit Suisse expects its Q3 results to go backwards, it is optimistic about its outlook, maintaining a target price of HK$197. (Hong Kong Economic Journal P8)
HSBC Canada reported a net profit of CAD$89 million for the third quarter, down 11.9 per cent from the same period a year ago. Its net profit for the first three quarters rose 8.3 per cent year on year to CAD$325 million. (SingTao Daily B3)
King Stone Energy (663 HK) plans to acquire a company that sells products including coal and has coal-related clean energy technology at a consideration of HK$3.54 billion. After that, it will hold 60 per cent equity interest in a controlling company of 2 coal mine projects in Shanyin County, Shuozhou City, Shanxi. (Hong Kong Economic Journal P10)
Manulife Financial (945 HK) booked net loss of C$947 million in Q3. Total revenue was C$13.14 billion, down 4.5 per cent yoy. A quarterly dividend of C$0.13 per share was declared. (Hong Kong Economic Times A14)
Mongolia Energy (276 HK) has signed agreement with OZ Management LP for issuing HK$466.8 million worth 3.5 per cent coupon 3-year convertible notes, totaling HK$778 million. The initial conversion price is HK$3.4 per share, representing a premium of 11.48 per cent to its closing price on Nov 3. (SingTao Daily B3)
Shirble Department Store (312 HK) plans to offer up to 625 million shares at an offer price ranging between HK$1.85 to HK$2.55 each to raise 1.156 billion to 1.594 billion. It kicks off its IPO today and will list on 17 Nov. Maximum offer price a lot amounted to HK$5151.4. (Hong Kong Economic Journal P10)
Sunrise Electronic Industry Limited (2000 HK), a wholly-owned subsidiary of the company, plans to sell 40 per cent equity interest of SIM Real Estate to Beijing Telecom Real Estate Development Corporation, at a consideration of US$8 million. (SingTao Daily B3)
Sino Union Energy (346 HK) has entered into an agreement with Asia Private Credit Fund Limited for the subscription of 206 million shares at HK$0.675 apiece, representing a discount of around 0.74 per cent to its closing price yesterday. The net proceeds will be around HK$139 million. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap November 3rd, 2010
Agile Property (3383 HK) announces that the Hainan Clear Water Bay project achieved contracted sales of an aggregate of 6.5 billion yuan for the first 10 months. Oct contracted sales amounted to 2.4 billion yuan, of which 25 per cent generated from turnover during the “National Day golden week” period. (Hong Kong Economic Times A14)
Anhui Expressway (995 HK) has received a notice from the Commodity Price Bureau of Anhui Province, under which with effect from 0:00 a.m. 10 Nov 2010 the tolls to be collected by Hening Expressway, Gaojie Expressway, Xuanguang Expressway and Lianhuo Expressway (Anhui Section), all owned by the Company, will be based on the new toll rates. (Hong Kong Economic Times A14)
Apollo Solar Energy Technology (566 HK) has signed an agreement with a company incorporated in Vietnam. Apollo agreed to sell 30 MW TFSC Modules Production Line for a total contract sum of US$33 million. (SingTao Daily B2)
BOC Aviation, subsidiary of Bank of China (3988 HK), says that it has signed contract with Airbus regarding purchasing 30 units of A320 aircrafts. (SingTao Daily B2)
China Forestry (930 HK) proposes to issue five-year US dollar senior notes, but the size of the notes issue has not been announced. The company expects the proceeds will be used for acquisition and general corporate use. (SingTao Daily B2)
China Motion Telecom International (989 HK) expects its results for the six months ended 30 Sep 2010 to record a loss as compared with a profit for the corresponding period in 2009. Such estimated loss was mainly due to the intensifying competition in the telecom market driving down the gross margin of the businesses. (SingTao Daily B2)
China Resources Power (836 HK) is planning to issue yuan bonds worth between 1 billion yuan and 2 billion yuan, according to market sources. It is said that this batch of yuan bonds is merely for institutional investors, therefore no retail portion is prepared. (Hong Kong Economic Journal P31)
Datang International Power (991 HK), one of China's largest power producers, is seeking to spin off its renewable energy business in the year, aiming to raise US$1 billion (around HK$7.8 billion) through floating shares in Hong Kong, Bloomberg reports, citing sources. (Hong Kong Economic Journal P31)
Chongqing Rural Commercial Bank is likely to launch its initial public offering on the local bourse, Dow Jones reports. The lender submitted listing application to HKEx (388 HK) in end Oct, aiming to raise over HK$6 billion by issuing 2.3 billion new H shares. It is expected to kick off roadshow and public offering within November at the earliest. (Hong Kong Economic Journal P31)
HSBC (5 HK) has offering new personal loans for clients to pay tax, which carry an actual interest rate of as low as 2.96 per cent per annum. Clients can borrow up to eight times of their monthly salary. The actual annual interest rate of loan amount between HK$5,000 and HK$20,000 will be 4.55 per cent. (SingTao Daily B2)
Li & Fung (494 HK) announces that it will become the purchasing agent of Li Ning brand, responsible for purchasing readymade clothes for the sportswear firm from the international and mainland markets. (SingTao Daily B2)
Longfor Properties’ (960 HK) contracted sales totaled 23.67 billion yuan for the first 10 months, surpassing its full-year target by 95 per cent. Contract signing for Oct amounted to 4.95 billion yuan, surging 34 per cent month on month. (Hong Kong Economic Times A14)
The Hongkong and Shanghai Hotels (45 HK) expect that the complete renovation of guestrooms at The Peninsula Hong Kong to be carried out in 2 phases commencing January 2012 until April 2013. The renovation will increase the hotel’s 3 year capital expenditure programme by around HK$350 million.(Hong Kong Economic Times A14)
Wah Nam International (159 HK) announced yesterday that it has been seeking potential acquisition opportunities, especially businesses related to mining industry. (SingTao Daily B2)
Wynn Macau (1228 HK) saw profit for the third quarter surging 56.5 per cent to US$114 million (around HK$834 million), meeting market expectations. A special dividend of HK$0.76 was declared. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Anhui Expressway (995 HK) has received a notice from the Commodity Price Bureau of Anhui Province, under which with effect from 0:00 a.m. 10 Nov 2010 the tolls to be collected by Hening Expressway, Gaojie Expressway, Xuanguang Expressway and Lianhuo Expressway (Anhui Section), all owned by the Company, will be based on the new toll rates. (Hong Kong Economic Times A14)
Apollo Solar Energy Technology (566 HK) has signed an agreement with a company incorporated in Vietnam. Apollo agreed to sell 30 MW TFSC Modules Production Line for a total contract sum of US$33 million. (SingTao Daily B2)
BOC Aviation, subsidiary of Bank of China (3988 HK), says that it has signed contract with Airbus regarding purchasing 30 units of A320 aircrafts. (SingTao Daily B2)
China Forestry (930 HK) proposes to issue five-year US dollar senior notes, but the size of the notes issue has not been announced. The company expects the proceeds will be used for acquisition and general corporate use. (SingTao Daily B2)
China Motion Telecom International (989 HK) expects its results for the six months ended 30 Sep 2010 to record a loss as compared with a profit for the corresponding period in 2009. Such estimated loss was mainly due to the intensifying competition in the telecom market driving down the gross margin of the businesses. (SingTao Daily B2)
China Resources Power (836 HK) is planning to issue yuan bonds worth between 1 billion yuan and 2 billion yuan, according to market sources. It is said that this batch of yuan bonds is merely for institutional investors, therefore no retail portion is prepared. (Hong Kong Economic Journal P31)
Datang International Power (991 HK), one of China's largest power producers, is seeking to spin off its renewable energy business in the year, aiming to raise US$1 billion (around HK$7.8 billion) through floating shares in Hong Kong, Bloomberg reports, citing sources. (Hong Kong Economic Journal P31)
Chongqing Rural Commercial Bank is likely to launch its initial public offering on the local bourse, Dow Jones reports. The lender submitted listing application to HKEx (388 HK) in end Oct, aiming to raise over HK$6 billion by issuing 2.3 billion new H shares. It is expected to kick off roadshow and public offering within November at the earliest. (Hong Kong Economic Journal P31)
HSBC (5 HK) has offering new personal loans for clients to pay tax, which carry an actual interest rate of as low as 2.96 per cent per annum. Clients can borrow up to eight times of their monthly salary. The actual annual interest rate of loan amount between HK$5,000 and HK$20,000 will be 4.55 per cent. (SingTao Daily B2)
Li & Fung (494 HK) announces that it will become the purchasing agent of Li Ning brand, responsible for purchasing readymade clothes for the sportswear firm from the international and mainland markets. (SingTao Daily B2)
Longfor Properties’ (960 HK) contracted sales totaled 23.67 billion yuan for the first 10 months, surpassing its full-year target by 95 per cent. Contract signing for Oct amounted to 4.95 billion yuan, surging 34 per cent month on month. (Hong Kong Economic Times A14)
The Hongkong and Shanghai Hotels (45 HK) expect that the complete renovation of guestrooms at The Peninsula Hong Kong to be carried out in 2 phases commencing January 2012 until April 2013. The renovation will increase the hotel’s 3 year capital expenditure programme by around HK$350 million.(Hong Kong Economic Times A14)
Wah Nam International (159 HK) announced yesterday that it has been seeking potential acquisition opportunities, especially businesses related to mining industry. (SingTao Daily B2)
Wynn Macau (1228 HK) saw profit for the third quarter surging 56.5 per cent to US$114 million (around HK$834 million), meeting market expectations. A special dividend of HK$0.76 was declared. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap November 2nd, 2010
Apollo Solar Energy Technology (566 HK) has been notified by GS-Solar and China Gogreen (0397) that China Gogreen has agreed to acquire from GS-Solar convertible bonds issued by the company in the principal amount of HK$329 million at a consideration of HK$500 million. (SingTao Daily B4)
Beijing Capital Land (2868 HK) saw Oct sales go up 7 per cent mom to 1.5 billion yuan. Sales reached 8.8 billion yuan in the first 10 months. (Hong Kong Economic Journal P12)
Beijing Yu Sheng Tang Pharmaceutical (1141 HK) and Heritage International (0412) issue profit warning. They expect their interim results to sink into the red. (SingTao Daily B4)
China Overseas Grand Oceans (81 HK) acquires 30 per cent equity interest in a subsidiary Pan China Land at consideration of HK$1.234 billion, which shall be satisfied by issuing 247 million shares or in cash. (Hong Kong Economic Times A14)
Future Bright (703 HK) has entered into a placing agreement with Get Nice Holdings (0064). It plans to place up to 92.3 million new shares via the latter at HK$0.41 each to raise around HK$36.79 million. (SingTao Daily B4)
Guangzhou R&F Properties’ (2777 HK) Oct sales amounted to 2.506 billion yuan, down 31 per cent mom. Sales for the first 10 months increased by 16 per cent yoy to 23.901 billion yuan. (Hong Kong Economic Journal P12)
Kaisa Group Holdings (1638 HK) saw Oct sales rise 28 per cent mom to 800 million yuan. Sales climbed 87 per cent yoy to 7.7 billion yuan in the first 10 months. (Hong Kong Economic Journal P12)
KWG Property’s (1813 HK) Oct sales amount amounted to 750 million yuan. It has already achieved its full-year target of 10 billion yuan. (Hong Kong Economic Times A14)
Melco Crown Entertainment (200 HK) under Melco International Development earned US$15.78 million in Q3. Net loss, however, amounted to US$26.8 million for the first 9 months. (Hong Kong Economic Times A14)
Mingyuan Medicare Development (233 HK) has entered into a strategic co-operation agreement with Shanghai Pharmaceuticals. The latter, which has a sales network across 31 provinces, municipalities and autonomous regions in the PRC, will become its principal distributor in China. (SingTao Daily B4)
New Media Group (708 HK) acquires an industrial building at No. 82 Hung To Road, with a gross floor area of around 89,500 square feet, at a consideration HK$255 million. (SingTao Daily B4)
Oriental Watch Holdings (398 HK) expects interim net profit to increase significantly on an increase in turnover due to market recovery. (SingTao Daily B4)
Semiconductor Manufacturing International (981 HK) booked net profit of US$30.4 million in 3Q10, down over 68 per cent qoq. It lost US$69 million in the same period last year. (SingTao Daily B4)
Shimao Property Holdings (813 HK) recorded contracted sales of 23.66 billion yuan in the first 10 months. Contracted sales area reached 1.92 million sqm. Oct contracted sales amounted to 4.046 billion yuan, up 15 per cent mom. (Hong Kong Economic Times A14)
Wumart Stores (8277 HK) posted net profit of 400 million yuan for the first 3Qs, up over 20 per cent yoy. EPS amounted to 0.32 yuan. Q3 net profit reached 120 million yuan, up almost 21 per cent yoy. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Beijing Capital Land (2868 HK) saw Oct sales go up 7 per cent mom to 1.5 billion yuan. Sales reached 8.8 billion yuan in the first 10 months. (Hong Kong Economic Journal P12)
Beijing Yu Sheng Tang Pharmaceutical (1141 HK) and Heritage International (0412) issue profit warning. They expect their interim results to sink into the red. (SingTao Daily B4)
China Overseas Grand Oceans (81 HK) acquires 30 per cent equity interest in a subsidiary Pan China Land at consideration of HK$1.234 billion, which shall be satisfied by issuing 247 million shares or in cash. (Hong Kong Economic Times A14)
Future Bright (703 HK) has entered into a placing agreement with Get Nice Holdings (0064). It plans to place up to 92.3 million new shares via the latter at HK$0.41 each to raise around HK$36.79 million. (SingTao Daily B4)
Guangzhou R&F Properties’ (2777 HK) Oct sales amounted to 2.506 billion yuan, down 31 per cent mom. Sales for the first 10 months increased by 16 per cent yoy to 23.901 billion yuan. (Hong Kong Economic Journal P12)
Kaisa Group Holdings (1638 HK) saw Oct sales rise 28 per cent mom to 800 million yuan. Sales climbed 87 per cent yoy to 7.7 billion yuan in the first 10 months. (Hong Kong Economic Journal P12)
KWG Property’s (1813 HK) Oct sales amount amounted to 750 million yuan. It has already achieved its full-year target of 10 billion yuan. (Hong Kong Economic Times A14)
Melco Crown Entertainment (200 HK) under Melco International Development earned US$15.78 million in Q3. Net loss, however, amounted to US$26.8 million for the first 9 months. (Hong Kong Economic Times A14)
Mingyuan Medicare Development (233 HK) has entered into a strategic co-operation agreement with Shanghai Pharmaceuticals. The latter, which has a sales network across 31 provinces, municipalities and autonomous regions in the PRC, will become its principal distributor in China. (SingTao Daily B4)
New Media Group (708 HK) acquires an industrial building at No. 82 Hung To Road, with a gross floor area of around 89,500 square feet, at a consideration HK$255 million. (SingTao Daily B4)
Oriental Watch Holdings (398 HK) expects interim net profit to increase significantly on an increase in turnover due to market recovery. (SingTao Daily B4)
Semiconductor Manufacturing International (981 HK) booked net profit of US$30.4 million in 3Q10, down over 68 per cent qoq. It lost US$69 million in the same period last year. (SingTao Daily B4)
Shimao Property Holdings (813 HK) recorded contracted sales of 23.66 billion yuan in the first 10 months. Contracted sales area reached 1.92 million sqm. Oct contracted sales amounted to 4.046 billion yuan, up 15 per cent mom. (Hong Kong Economic Times A14)
Wumart Stores (8277 HK) posted net profit of 400 million yuan for the first 3Qs, up over 20 per cent yoy. EPS amounted to 0.32 yuan. Q3 net profit reached 120 million yuan, up almost 21 per cent yoy. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, November 2, 2010
Hong Kong Stock Market Wrap November 1st, 2010
AAC Acoustic Technologies (2018 HK) earned around 665 million yuan for the 9 months ended 30 Sep, surging 68.8 per cent yoy. Revenue amounted to 2.29 billion yuan, up 51.8 per cent yoy. No dividend was declared. (Hong Kong Economic Journal P12)
Air China Limited (753 HK) has received a formal approval from China Securities Regulatory Commission that the company is approved to place no more than 585 million A shares, which will expire after six months. (SingTao Daily B4)
Li Li-hui, vice chairman and president of Bank of China (3988 HK), says that after completion of A+H share placings, BOC’s capital adequacy ratio will increase by around one percentage point, meeting the capital requirement for the development from 2010 to 2012, so no new financing plan is required for the time being. (SingTao Daily B4)
Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing increases holding of shares in the company by 1 million shares at HK$118.343 each on average last Thu, involving over HK$118 million, taking his shareholding from 42.27 per cent to 42.31 per cent. Shares closed at HK$122.8 yesterday. (Hong Kong Economic Journal P8)
China Construction Bank (939 HK) announced yesterday that the rights issue has been priced at 3.77 yuan apiece, on the basis of 0.7 share for every ten shares. The rights issue price for H shares has yet to be announced. But based on the yuan exchange rate, the H-share rights issue will be priced around HK$4.39 per share. (SingTao Daily B4)
China Overseas Land (688 HK) and Investment plans to issue 10-yr US$ bonds. Moody's has assigned a Baa2 rating to the bonds, expecting the company to keep net debt/capitalization ratio below 35 per cent over next 2-3 years.
China Resources Land (1109 HK) booked total sales revenue of 17 billion yuan as of Oct 28, 2010, nearly achieving the full-year target of 18 billion yuan. Chairman Wang Yin says the company will raise its full-year target, expecting to achieve the target of 20 billion yuan. (SingTao Daily B4)
China Tian Lun Gas (1600 HK) closed its retail book yesterday. It is said that the IPO was over 437 times oversubscribed, freezing around HK$18 billion. Retail tranche was over 100 times covered. (Hong Kong Economic Times A12)
CITIC Dameng Holdings (1091 HK) kicked off roadshow yesterday, planning to raise 1.575 billion to 2.063 billion. It is said its international placing was 2.5 times oversubscribed. (Hong Kong Economic Times A12)
Guangzhou (2777 HK) announces that contracted sales revenue and sales area for October this year rose 14 per cent and 5 per cent respectively, amounting to 2.5 billion yuan and 204,200 sqm respectively. (SingTao Daily B4)
Harbour Centre Development (51 HK) has appointed Chow, Ming Kuen Joseph as
a director, effective from 1 Nov. Chow, aged 69, is an independent non-executive director of Build King, Chevalier International, PYI Corporation and Road King Infrastructure. (Hong Kong Economic Journal P8)
HSBC (5 HK) has declared a third interim dividend of US$0.08 per share for the year 2010, unchanged from the 2nd interim dividend this year. Hang Seng Bank (0011) has also declared a third interim dividend in respect of the year 2010 of HK$1.10 per share, same as the corresponding period last year. (SingTao Daily B4)
ICBC (1398 HK) paid US$1 to take over the prime dealer services unit of Fortis Securities, the Wall Street Journal reported, citing unnamed sources. The Fortis operation only has 75 existing customers, but could be a stepping stone for ICBC's expansion into the underwriting of securities in the US market, the sources said. (SingTao Daily B4)
Orange Sky Golden Harvest Entertainment (1132 HK) saw profit climb 1.05 times to HK$39 million for the 9 months ended 30 Sep. Cash on hand went down to HK$519 million. No dividend was declared. (Hong Kong Economic Journal P12)
The Wharf (4 HK) has successfully bid for a plot of land situated at Jiangbei District, Ningbo City, with a floor area of around 77,900 sqm, at a consideration of 1.043 billion yuan. The site will be developed to high-end multi-storey residential buildings. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Air China Limited (753 HK) has received a formal approval from China Securities Regulatory Commission that the company is approved to place no more than 585 million A shares, which will expire after six months. (SingTao Daily B4)
Li Li-hui, vice chairman and president of Bank of China (3988 HK), says that after completion of A+H share placings, BOC’s capital adequacy ratio will increase by around one percentage point, meeting the capital requirement for the development from 2010 to 2012, so no new financing plan is required for the time being. (SingTao Daily B4)
Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing increases holding of shares in the company by 1 million shares at HK$118.343 each on average last Thu, involving over HK$118 million, taking his shareholding from 42.27 per cent to 42.31 per cent. Shares closed at HK$122.8 yesterday. (Hong Kong Economic Journal P8)
China Construction Bank (939 HK) announced yesterday that the rights issue has been priced at 3.77 yuan apiece, on the basis of 0.7 share for every ten shares. The rights issue price for H shares has yet to be announced. But based on the yuan exchange rate, the H-share rights issue will be priced around HK$4.39 per share. (SingTao Daily B4)
China Overseas Land (688 HK) and Investment plans to issue 10-yr US$ bonds. Moody's has assigned a Baa2 rating to the bonds, expecting the company to keep net debt/capitalization ratio below 35 per cent over next 2-3 years.
China Resources Land (1109 HK) booked total sales revenue of 17 billion yuan as of Oct 28, 2010, nearly achieving the full-year target of 18 billion yuan. Chairman Wang Yin says the company will raise its full-year target, expecting to achieve the target of 20 billion yuan. (SingTao Daily B4)
China Tian Lun Gas (1600 HK) closed its retail book yesterday. It is said that the IPO was over 437 times oversubscribed, freezing around HK$18 billion. Retail tranche was over 100 times covered. (Hong Kong Economic Times A12)
CITIC Dameng Holdings (1091 HK) kicked off roadshow yesterday, planning to raise 1.575 billion to 2.063 billion. It is said its international placing was 2.5 times oversubscribed. (Hong Kong Economic Times A12)
Guangzhou (2777 HK) announces that contracted sales revenue and sales area for October this year rose 14 per cent and 5 per cent respectively, amounting to 2.5 billion yuan and 204,200 sqm respectively. (SingTao Daily B4)
Harbour Centre Development (51 HK) has appointed Chow, Ming Kuen Joseph as
a director, effective from 1 Nov. Chow, aged 69, is an independent non-executive director of Build King, Chevalier International, PYI Corporation and Road King Infrastructure. (Hong Kong Economic Journal P8)
HSBC (5 HK) has declared a third interim dividend of US$0.08 per share for the year 2010, unchanged from the 2nd interim dividend this year. Hang Seng Bank (0011) has also declared a third interim dividend in respect of the year 2010 of HK$1.10 per share, same as the corresponding period last year. (SingTao Daily B4)
ICBC (1398 HK) paid US$1 to take over the prime dealer services unit of Fortis Securities, the Wall Street Journal reported, citing unnamed sources. The Fortis operation only has 75 existing customers, but could be a stepping stone for ICBC's expansion into the underwriting of securities in the US market, the sources said. (SingTao Daily B4)
Orange Sky Golden Harvest Entertainment (1132 HK) saw profit climb 1.05 times to HK$39 million for the 9 months ended 30 Sep. Cash on hand went down to HK$519 million. No dividend was declared. (Hong Kong Economic Journal P12)
The Wharf (4 HK) has successfully bid for a plot of land situated at Jiangbei District, Ningbo City, with a floor area of around 77,900 sqm, at a consideration of 1.043 billion yuan. The site will be developed to high-end multi-storey residential buildings. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, November 1, 2010
Hong Kong Stock Market Wrap October 29th, 2010
BOC (3988 HK) announced yesterday night that it has received approval from the CBRC in respect of its A+H share rights issue plan. It will kick off roadshow for A share rights issue next Mon, 1 Nov to raise not more than 60 billion yuan. Subscription Price is 2.36 yuan per A rights share. (Hong Kong Economic Times A11)
Bank of Communications (3328 HK) saw net profit go up 24.3 per cent to 9.18 billion yuan in Q3 and go up 28.2 per cent to 29.537 billion yuan for the first 3Qs. Net interest income was 21.604 in Q3, up 24.2 per cent. Net fee and commission income amounted to 3.54 billion yuan in Q3, up 15.8 per cent. (Hong Kong Economic Times A11)
Beijing North Star (588 HK) recorded a 67.61 per cent decrease year on year in net profit to 46.18 million yuan for the third quarter in accordance with China Accounting Standards. Net profit for the first three quarters amounted to 183.4 million yuan. (SingTao Daily B3)
According to the PRC Accounting Standards, China COSCO Holdings (1919 HK) booked net profit of 2.11 billion yuan in Q3 as compared to the net loss of 710.4 million yuan in the same period last year. (Hong Kong Economic Journal P14)
China Kangda Food Company (834 HK) expects unaudited net profit for the first 9 months to go down yoy on the increase in the operating cost and excess supply of chicken meat products. (Hong Kong Economic Journal P14)
China Life Insurance Company (2628 HK) booked Q3 net profit of 6.91 billion yuan, up marginally 3.4 per cent yoy. Net profit reached 24.945 billion yuan for the first 3Qs. As at 30 Sep, the gross investment yield was 3.65 per cent. (Hong Kong Economic Times A11)
Accordance to the PRC Accounting Standards, Sinopec Corp. (386 HK) posted net profit of 19.64 billion yuan in Q3, up 14.8 per cent yoy. Net profit amounted to 56.4 billion yuan for the first 3Qs, up 11.6 per cent yoy. Crude oil price realized rose 52.34 per cent to 3,411 yuan/ tonne. (Hong Kong Economic Journal P14)
CJ Land Holdings (957 HK) is set to list on the main board on 11 Nov. Offer price ranges between HK$3.2 and 4.8. Maximum offer price a board lot of 1000 shares is HK$4848.38. Citigroup Global Markets Asia and Merrill Lynch Far East are sponsors of the IPO. The company expects to post net profit of 710 million yuan this year. Its net profit in 2009 was 523 million yuan. (Hong Kong Economic Journal P16)
Benefiting from increased oil and gas production and higher realized oil prices, CNOOC’s (883 HK) total revenues were about 38.91 billion yuan for the third quarter, surging 63.8 per cent year on year. The average realized oil price increased 9.3 per cent to around US$74.19 per barrel. Total net production was 88.7 million barrels oil equivalent during the period. (SingTao Daily B2)
Esprit (330 HK) recorded a turnover of HK$8.59 billion for the three-month period ended 30 Sep 2010, tumbling 9.1 per cent year on year. Growth of same-store sales edged down 0.1 per cent, of which the performance in the Europe region that accounts for over 80 per cent of total revenue was the worst, plunging 14.5 per cent year on year. (SingTao Daily B3)
Galaxy Entertainment Group (27 HK) says that its EBITDA hit record new, amounting to HK$616 million for the quarter ended Sep 30, with a sharp increase of 115 per cent over the same period a year ago. (SingTao Daily B3)
GZI Transport (1052 HK) announce that its six toll stations at the Guanghua Highway will cease operation by end Oct 2010 and it is required to surrender the operating rights to the Guangzhou government. The company will in return receive a sum of around 1.313 billion yuan to be paid by the Guangzhou government as compensation. (SingTao Daily B3)
ICBC (1398 HK) booked a net profit attributable to equity holders of 42.613 billion yuan for the third quarter, up 26.84 per cent over the same period last year. Net interest income amounted to 78.351 billion yuan, leaping 25.94 per cent year on year. Net fee and commission income were 17.674 billion yuan. Earnings per share amounted to 0.13 yuan. (SingTao Daily B3)
Sinopec Yizheng (1033 HK) saw net profit soaring 4.1 times year on year to 347 million yuan for the third quarter ended Sep 30. Turnover amounted to 3.97 billion yuan during the period. (SingTao Daily B3)
Yuzhou Properties (1628 HK) has successfully bid for a parcel of land in Jinjing, Tianjin at a consideration of 137 million yuan. According to a construction area of nearly 130,000 sqm, the land price is merely 1,071 yuan per floor area, which will be used for high-end residential projects. The company expects the average selling price to be over 10,000 per sqm in the future. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bank of Communications (3328 HK) saw net profit go up 24.3 per cent to 9.18 billion yuan in Q3 and go up 28.2 per cent to 29.537 billion yuan for the first 3Qs. Net interest income was 21.604 in Q3, up 24.2 per cent. Net fee and commission income amounted to 3.54 billion yuan in Q3, up 15.8 per cent. (Hong Kong Economic Times A11)
Beijing North Star (588 HK) recorded a 67.61 per cent decrease year on year in net profit to 46.18 million yuan for the third quarter in accordance with China Accounting Standards. Net profit for the first three quarters amounted to 183.4 million yuan. (SingTao Daily B3)
According to the PRC Accounting Standards, China COSCO Holdings (1919 HK) booked net profit of 2.11 billion yuan in Q3 as compared to the net loss of 710.4 million yuan in the same period last year. (Hong Kong Economic Journal P14)
China Kangda Food Company (834 HK) expects unaudited net profit for the first 9 months to go down yoy on the increase in the operating cost and excess supply of chicken meat products. (Hong Kong Economic Journal P14)
China Life Insurance Company (2628 HK) booked Q3 net profit of 6.91 billion yuan, up marginally 3.4 per cent yoy. Net profit reached 24.945 billion yuan for the first 3Qs. As at 30 Sep, the gross investment yield was 3.65 per cent. (Hong Kong Economic Times A11)
Accordance to the PRC Accounting Standards, Sinopec Corp. (386 HK) posted net profit of 19.64 billion yuan in Q3, up 14.8 per cent yoy. Net profit amounted to 56.4 billion yuan for the first 3Qs, up 11.6 per cent yoy. Crude oil price realized rose 52.34 per cent to 3,411 yuan/ tonne. (Hong Kong Economic Journal P14)
CJ Land Holdings (957 HK) is set to list on the main board on 11 Nov. Offer price ranges between HK$3.2 and 4.8. Maximum offer price a board lot of 1000 shares is HK$4848.38. Citigroup Global Markets Asia and Merrill Lynch Far East are sponsors of the IPO. The company expects to post net profit of 710 million yuan this year. Its net profit in 2009 was 523 million yuan. (Hong Kong Economic Journal P16)
Benefiting from increased oil and gas production and higher realized oil prices, CNOOC’s (883 HK) total revenues were about 38.91 billion yuan for the third quarter, surging 63.8 per cent year on year. The average realized oil price increased 9.3 per cent to around US$74.19 per barrel. Total net production was 88.7 million barrels oil equivalent during the period. (SingTao Daily B2)
Esprit (330 HK) recorded a turnover of HK$8.59 billion for the three-month period ended 30 Sep 2010, tumbling 9.1 per cent year on year. Growth of same-store sales edged down 0.1 per cent, of which the performance in the Europe region that accounts for over 80 per cent of total revenue was the worst, plunging 14.5 per cent year on year. (SingTao Daily B3)
Galaxy Entertainment Group (27 HK) says that its EBITDA hit record new, amounting to HK$616 million for the quarter ended Sep 30, with a sharp increase of 115 per cent over the same period a year ago. (SingTao Daily B3)
GZI Transport (1052 HK) announce that its six toll stations at the Guanghua Highway will cease operation by end Oct 2010 and it is required to surrender the operating rights to the Guangzhou government. The company will in return receive a sum of around 1.313 billion yuan to be paid by the Guangzhou government as compensation. (SingTao Daily B3)
ICBC (1398 HK) booked a net profit attributable to equity holders of 42.613 billion yuan for the third quarter, up 26.84 per cent over the same period last year. Net interest income amounted to 78.351 billion yuan, leaping 25.94 per cent year on year. Net fee and commission income were 17.674 billion yuan. Earnings per share amounted to 0.13 yuan. (SingTao Daily B3)
Sinopec Yizheng (1033 HK) saw net profit soaring 4.1 times year on year to 347 million yuan for the third quarter ended Sep 30. Turnover amounted to 3.97 billion yuan during the period. (SingTao Daily B3)
Yuzhou Properties (1628 HK) has successfully bid for a parcel of land in Jinjing, Tianjin at a consideration of 137 million yuan. According to a construction area of nearly 130,000 sqm, the land price is merely 1,071 yuan per floor area, which will be used for high-end residential projects. The company expects the average selling price to be over 10,000 per sqm in the future. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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