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
