Tuesday, November 30, 2010

Hong Kong Stock Market Wrap November 29th, 2010

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 It has already withdrawn the bracelets and other products of the same batch provided by the relevant supplier from sale and has offered an option to refund to customers that have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