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
