Hong Kong Stock Market Wrap December 13th, 2010

Headland Capital Partners placed 201 million shares of Bosideng International (3998 HK) via Goldman Sachs at a price ranging from HK$3.56 to HK$3.62 per share, representing a 3.5-5.1 per cent discount to its closing price of HK$3.75 yesterday, according to market sources. The proceeds from the share placement will be over HK$727million. (SingTao Daily B2)

Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing bought in 1.361 million shares during 7-9 Dec, involving around HK$155.6 million. Li bought in 1.049 million shares during 2-6 Dec, involving approximately HK$121.75 million. (Hong Kong Economic Journal P12)

China Eco-Farming (8166 HK) announced the sale and purchase agreement entered into in August lapsed. On the other hand, the company will place up to a maximum of 150 million new placing shares at HK$0.25 per share to raise HK$36.5 million, HK$21 million of which will be used to repay debts. (SingTao Daily B3)

China Suntien Green Energy Corporation (956 HK) has entered into a strategic co-operation framework agreement with Shanxi International Energy Group Gas Investment & Management Co., Ltd. to construct two pipelines from Shanxi to Xunzhen for the provision of natural gas in Shanxi province. (SingTao Daily B3)

China Water Industry Group (1129 HK) has entered into a non-legally binding LOI, planning to acquire the entire issued share capital of Zhongtian Company that is principally engaged in sewage treatment business in Guangdong Province, at a consideration of not exceeding HK$200 million. (SingTao Daily B3)

Hengdeli Holdings (3389 HK) has entered into an agreement to purchase 80 per cent equity interest in Tianjin Hengdeli without disclosing the consideration amount. Upon completion of the acquisition, the company will hold over 90 per cent of market share in the middle to high-end import watch market. (SingTao Daily B3)

Hengxin Technology (1085 HK) plans to issue 98.68 million shares, around 47.3 per cent of which are existing shares. Maximum offer price a lot of 2000 shares is around HK$6060.5. (Hong Kong Economic Journal P6)

Hopson Development (754 HK) announces that the consideration for acquiring the Beijing project from Chu Yat-hong, son of the company’s chairman Chu Mang-yee, will be reduced by 270 million yuan to 6.605 billion yuan. The amount of cash consideration will remain unchanged. (SingTao Daily B3)

Huaneng Power International (902 HK) announces that Suzhou Port Taicang Terminal Zone Huaneng Coal Pier Construction Project has been approved by the National Development and Reform Commission of the PRC. The total investment amount of the project is around 2 billion yuan, 30 per cent of which is to be funded by internal funds. (SingTao Daily B3)

Hutchison Whampoa (13 HK) announces that the terms of contracts regarding 2 pieces of lands in Wolong Bay International Business District, Dalian have been agreed with the Dalian Land Bureau. The lands have an aggregate gross area of about 319,000sqm and will be developed into residential and commercial properties. (Hong Kong Economic Times A12)

Kaisa Group (1638 HK) chairman Kwok Ying Shing and his family bought 15.628 million shares at an average price of around HK$2.179 per share on 10 Dec, taking shareholding in the company from 59.08 per cent to 59.4 per cent. Kwok says this is to show his confidence in the group. (Hong Kong Economic Journal P11)

Ping An Insurance (2318 HK) announces that subsidiaries Ping An Life, Ping An Property & Casualty, Ping An Health and Ping An Annuity recorded accumulated written premiums of 147.558 billion, 55.553 billion, 168 million and 4.655 billion yuan respectively for the first 11 months. (Hong Kong Economic Times A12)

Sands China (1928 HK) announces that David Fleming will replace Anne Maree Salt as a joint company secretary starting Jan 10, 2011. Fleming has joined the company since 2007. He has worked as a deputy legal director of MTR (0066) previously. (Hong Kong Economic Journal P10)

Shui On Land (272 HK) proposes to conduct an international offering of notes, which will be denominated in RMB and settled in US dollar, to institutional investors in Asia and Europe. The proceeds from the notes issue will be used for repaying part of debts and for general working capital. (SingTao Daily B3)

Market sources say World Wide Touch Technology (1282 HK) prices its shares at HK$0.95 each and its retail tranche was 18x oversubscribed. (Hong Kong Economic Journal P6)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 10th, 2010

Allied Group (373 HK) announced it would dispose 1.145 billion shares in SHK Hong Kong Industries Limited (666) to Rising Fortune Group at $0.41 per share. (SingTao B3)

Cafe de Coral (341 HK) announced it would have salary adjustment in January next year and the average salary raise would be 7 per cent. (Hong Kong Economics Journal P.6)

China Power (2380 HK) announced that it proposed an issue of 5-year unsecured RMB denominated bonds in Hong Kong to raise not less than 600 million yuan. (Hong Kong Economics Times A10)

Fountain (420 HK) recorded a profit of $223 million for the year ended 31 August 2010. (SingTao B3)

HSBC (5 HK) announced the appointment of Samir Assaf as Chief Executive of its Global Banking and Markets business with effect from 1 January 2011. He succeeds Stuart Gulliver who becomes Group Chief Executive on the same date. (Hong Kong Economics Times A10)

Shangri-la (69 HK) announced right issue of $4.659 billion at $19.5 each on the basis of 1 right issue for every 12 shares, in order to repay its most bank borrowings and to save interest costs. (Hong Kong Economics Times A11)

Shui On (272 HK) proposed to issue RMB notes of $400 million. The roadshow will take place next week in HK and Singapore. (Hong Kong Economics Journal P.7)

China Longyuan Power Group (916 HK) plans to issue yuan bonds in HK next year, expecting the offer size to be 1 billion to 2 billion yuan at the first time. It expects 2010 profit will far exceed its target of 1.77 billion yuan. (Hong Kong Economic Journal P12)

China Financial International Investments (721 HK) has agreed to place 596.96 million new shares at HK$0.25 a share to raise around HK$149 million, about 16.55 per cent of the issued share capital as enlarged. (Hong Kong Economic Journal P8)

China Foods (506 HK) revises up the annual caps of the CPMC Products Supply Agreement for 2010 and 2011 to 15 million and 80 million yuan respectively. (SingTao Daily B17)

China Molybdenum (3993 HK) plans to apply to the relevant authorities in the PRC for issuing not more than 542 million A shares. The proceeds is intended to apply on various projects with a total estimated investment amount of around 3.788 billion yuan. (Hong Kong Economic Journal P8)

China Singyes Solar Technologies (750 HK) was awarded a BIPV project in the Centennial Campus of the University of Hong Kong. Total contract value of the project is HK$2.45 million. (SingTao Daily B17)

L’Occitane International (973 HK) announces that its parent L’Occitane Groupe placed 50 million ordinary shares, around 3.4 per cent of the total issued shares, at a price of HK$21.14 per share on 10 Dec. The shareholding of L’Occitane Groupe in L’Occitane International went down from 72.6 per cent to 69.2 per cent after the placing. (Hong Kong Economic Times A14)

Fantasia Holdings Group (1777 HK) successfully auctioned through Shenzhen Zhifu Real Estate Investment Development for a piece of land in Yuhuatai District, Nanjing City with a useable area of about 55,400sqm for 280 million yuan. The site has been approved for commercial use and its term of grant is 40 years.
(SingTao Daily B17)

Tiande Chemical (609 HK) entered into an LOI with Shandong Heneng Electricity Equipment and Shandong Haiwang Chemical last Fri. It will conduct due diligence review on the acquisition of Shandong Haiheng Chemical within 3 months. (SingTao Daily B17)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 9th, 2010

Ausnutria Dairy Corporation (1717 HK) has agreed to purchase premises with an aggregate construction area of about 2,700 square meters from Changsha Xin Xin Da Xin Real Estate for the use as its office premises in Changsha at around 24.67 million yuan. (SingTao Daily B3)

AV Concept Holdings (595 HK) reportedly plans to place 62.95 million shares at HK$1.6 each, 16.2 per cent discount to yesterday’s closing price of HK$1.91. (Hong Kong Economic Journal P8)

Birmingham International (2309 HK) acquires from a substantial shareholder a parcel land in Sha Ping District, Chongqing at a consideration of 75 million yuan. The site is being developed into commercial buildings with a total gross floor area of 57,400 sqm. (SingTao Daily B3)

China Glass (3300 HK) has participated in the bidding held by Qingdao Equity Exchange for acquiring 18 million ordinary shares of Weihai Bluestar Glass, around 17.46 per cent of the issued shares in Weihai Bluestar, from Qingdao Soda Ash Industrial. (SingTao Daily B3)

China Metal Recycling (773 HK) reportedly has placed 60 million shares at a price of HK$7.85-8.2 per share via Merrill Lynch Far East. (Hong Kong Economic Times A12)

China Overseas Land & Investment (688 HK) posted sales of 58.72 billion for the first 11 months, up 30.5 per cent yoy, achieving 98 per cent of the full-yr sales target of 60 billion. (Hong Kong Economic Times A12)

China ZhengTong Auto Services (1728 HK) shares ended at HK$7.4 each at the gray market yesterday, 1.37 per cent higher than its IPO price of HK$7.3. (Hong Kong Economic Journal P8)

Chigo Holding (449 HK) plans a bonus issue on the basis of 9 bonus shares for every 1 existing share to shareholders to show its gratitude for their loyalty and support. The company believes the issue will increase its capital base and enhance shares liquidity, enlarging its shareholders’ base. (SingTao Daily B3)

Huadian Power International (1071 HK) announces that it will acquire Bailu Coal Mine, Xijiazhai Coal Mine and Yibanling Coal Mine in Shanxi Province at 1.589 billion yuan. (SingTao Daily B3)

Prosperity International (803 HK) will increase stake in Lead Hero via a subsidiary in order to obtain the 50 per cent interest in certain iron ore mines in Brazil that Lead Hero holds. The deal involves US$20 million. (SingTao Daily B3)

Sino-Ocean Land (3377 HK) saw sales rise 33 per cent yoy to 18.2 billion yuan for the first 11 months, exceeding the full-yr sales target of 18 billion yuan. (Hong Kong Economic Times A12)

SRE Group (1207 HK) has agreed to allot and issue to several substantial shareholders a total of 700 million subscription shares at the price of HK$0.81 each to raise HK$567 million. (Hong Kong Economic Times A12)

Titan Petrochemicals (119 2HK) announces that a framework agreement has been signed in respect of a proposed disposal of 95 per cent of equity interests in Titan Quanzhou Shipyard for around 1.866 billion yuan and an issue of 500 million new shares. (SingTao Daily B3)

Yue Yuen Industrial (Holdings) (551 HK) reported net consolidated operating revenue of around US$553 million in Nov. The figure was around US$5.56 billion for the first 11 months. (SingTao Daily B3)

Yuzhou Properties Company (1628 HK) has completed an issue of US$200 million 13.5 per cent senior notes due 2015. It intends to use the net proceeds to repay certain existing loans and fund the acquisition of land. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 8th, 2010

IPO: Topspring cancelled its roadshow yesterday. Sources say the company plans to go public in Q111 instead. (Hong Kong Economic Times A10)

AEON Stores (Hong Kong) (984 HK) has agreed to purchase a property in Kwai Chung at HK$310 million, planning to use it as its HK headquarters and as a place for distribution and processing facilities. The building located at Kung Yip Street comprises 15 storeys. Existing monthly rental is about HK$1.6 million. (Hong Kong Economic Journal P8)

An institutional investor of Beijing Enterprises (392 HK) was placing 18.5 million shares in the company at a price of HK$48.7-49.1 per share, seeking to raise up to HK$908 million, Reuters citing a termsheet reports. (SingTao Daily B3)

Dragonite International (329 HK) received a writ and a statement of claim from BOCI Asia Limited on 22 Sep 2010 claiming a sum of HK$4.47 million being service fees for the debt restructuring of the company. In response to the claim, Dragonite has filed a defence and counterclaim against BOCI Asia counterclaiming a sum of HK$236 million on 3 Dec 2010. (SingTao Daily B3)

Emperor Capital Group (717 HK) earned HK$72.11 million for the year ended 30 Sep. It proposed the payment of a final dividend of HK$0.015 a share. Loans and Financing revenue was up by 1.12x to HK$47.3 million. (Hong Kong Economic Journal P10)

Evergrande Real Estate (3333 HK) posted a record of 6.56 billion yuan in contracted sales in Nov, boosting the total for the first 11 months up to 47.72 billion yuan, having achieved its full-year target in advance. The developer expects contracted sales this year to exceed 50 billion yuan and double in 2012. (SingTao Daily B5)

Glorious Property (845 HK) announces that its contracted sales in Nov amounted to 2.242 billion yuan, boosting the total contracted sales for the first 11 months up to 10.013 billion yuan, soaring 94.32 per cent year on year. (SingTao Daily B3)

Greatview Aseptic Packaging (468 HK) shares closed at HK$4.4 in the gray market yesterday, 2.3 per cent higher than its IPO price of HK$4.3. Holding a lot generated a paper gain of HK$100. (Hong Kong Economic Times A10)

Hidili Industry (1393 HK) International expects its raw coal production plan for 2011 to be slashed by about 600,000 tonnes from the original of 5.5 million tonnes.
(SingTao Daily B3)

Husky Energy, a subsidiary under Hutchison Whampoa (13 HK), has confirmed the deal with China National Offshore Oil Corporation to develop the Liwan 3-1 gas field in the South China Sea. The gas field will be owned by Husky and CNOOC as to 49 per cent and 51 per cent respectively. (SingTao Daily B3)

International Mining Machinery (1683 HK) will set up a JV under the name of Shanxi Meijia Mining Machinery. It will hold 49 per cent of the equity interest. Registered capital of the JV company will be 69 million yuan, 33.81 million yuan of which will be contributed by it. (Hong Kong Economic Journal P6)

Sateri Holdings (1768 HK) shares ended at HK$6.5 each on their first day of trade, 1.5 per cent lower than its issue price of HK$6.6. Investors suffered a paper loss of HK$50 for holing a board lot, not taking charges into account. (Hong Kong Economic Times A10)

See Corporation (491 HK) has entered into a non-legally binding MOU, planning to acquire from a company connected to its managing director Wong Kui Shing Danny at HK$300 million cash and/ or promissory notes a company engaged in investments on renewable resources projects in Lao PDR, with a focus on developing plantation of Eucalyptus and the R&D of bioenergy. (Hong Kong Economic Journal P10)

Yuexiu Property (123 HK) booked contracted sales of 393 million yuan in Nov, down 53 per cent year on year. Contracted sales for the first 11 months rose 36 per cent to a total of 8.079 billion yuan year on year. (SingTao Daily B3)

Yuzhou Properties (1628 HK) has issued 5-year senior notes, but the raising amount was slashed from the original of US$300 million to US$150 million, according to foreign media. (SingTao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 7th, 2010

Agile Property Holdings (3383 HK) saw contracted sales soar around 64 per cent yoy to 25.4 billion yuan as of the end of Nov. Full-yr contracted sales target was achieved. Contracted sales area reached around 2.27 million sqm, up around 16 per cent yoy. Average price amounted to about 11189 yuan per sqm. Nov contracted sales was 2.8 billlion yuan, involving area of about 230000sqm. (Hong Kong Economic Journal P16)

Amber Energy expects (90 HK) net profit for the year ending 31 Dec to go up significantly yoy as natural gas supply in Zhejiang Province has improved since Q210. (Hong Kong Economic Times A10)

Asia Commercial Holdings (104 HK) announced interim results of 2010 in end Nov that its net profit surged over 100 per cent, mainly due to the 30 per cent growth in same-store sales during the period. The company is planning to set up 20-30 new-brand special stores and comprehensive stores in the mainland in next three years. (SingTao Daily B6)

Cathay Pacific Airways (293 HK) intends to replace business-class seats of its current fleets and new aircrafts, involving HK$1 billion, in order to respond to the competition from other airlines in business-class passengers. (SingTao Daily B4)

Hongkong Electric’s (6 HK) 10-year US$500 million worth bonds were well-received by investors. The coupon rate of the bonds is 4.25 per cent, while its bond yield is 4.341 per cent. Investors, totalled 150, have subscribed the bonds amounting to US$1.8 billion. (SingTao Daily B4)

HSBC Global Asset Management (5 HK), subsidiary of HSBC, announced in end Sept that assets in emerging market under its management have exceeded US$100 billion, accounting for around 25 per cent of the global assets of the lender. (SingTao Daily B4)

KWG Property (1813 HK) posted pre-sale income of about 500 million yuan in Nov and about 10.55 billion yuan for the first 11 months, exceeding its full-yr target by 5 per cent. The group says it has recently acquired sites in Chengdu, Shanghai and Tianjin, expecting its 2011 sales income to continue to go up sharply. (Hong Kong Economic Journal P16)

Longfor Properties (960 HK) reported Nov contracted sales of 4.05 billion. Contracted sales for the first 11 months hit 27.72 billion yuan, exceeding full year sales target by 12 per cent. (Hong Kong Economic Journal P16)

Leung Chi-Kin Stewart of New World Development (17 HK), aged 71, having served the group for 40 years, will retire from the group of all executive roles effective from 1 Jan and be re-designated as a non-executive director and principal adviser. Wong Man-Hoi will take his place as company secretary and an authorised representative. (Hong Kong Economic Times A10)

PAX Global Technology (327 HK), a EFT-POS terminal solutions provider in the mainland, starts opening its retail book today, planning to float 319.2 million shares at an offer price between HK$2.53 and HK$3.23 to raise up to HK$1.031 billion. Investors need to pay HK$3,262 for a board lot of 1,000 shares. The listing date is Dec 20 and CITIC Securities is the sponsor. (SingTao Daily B4)

Poly (Hong Kong) Investment’s (119 HK) sales for the first 11 months stood at around 10.1 billion yuan, gaining 38.4 per cent yoy. Contracted sales area was around 1.31 million sqm. (Hong Kong Economic Journal P16)

Tsingtao Brewery (168 HK) plans to acquire 100 per cent equity interest in Shandong Xin Immense Brewer, at a consideration of 1.873 billion yuan. Xin Immense Brewer owns the Silver Wheat brand, producing 550,000 liters a year. Tsingtao's takeover helped its shares climb 5 per cent to close at HK$42.95 yesterday. (SingTao Daily B5)

World Wide Touch Technology’s (1282 HK) offering closed yesterday afternoon. Market sources say the IPO was almost 20 times oversubscribed, locking in around HK$1.8 billion. Its shares will be priced between HK$0.85 and 1.05 each. (Hong Kong Economic Times A2)

Xinjiang Goldwind Science & Technology (646 HK) has successfully won the open tender of a concession project for supplying wind turbine generators to a wind farm developer, China Three Gorges New Energy Corporation in Kushui fourth wind farm at Hami, Xinjiang, involving 920 million yuan. (SingTao Daily B4)

Yardway Group (646 HK) announces to place 143 million shares at a price of HK$0.4335 per subscription share, representing around 18 per cent discount to its closing price of HK$0.53 before the trading suspension. The net proceeds of HK$60 million will be used for general working capital. (SingTao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 6th, 2010

Cathay Pacific Airways (293 HK) will focus on developing the mainland market over the next few years. It has no plans for a share placement although its share price has jumped to a new record high. In addition, the current chief operating officer John Slosar will take over from Tony Tyler who will resign as chief executive with effect from 31 Mar 2011. (SingTao Daily B3)
C C Land Holdings’ (1224 HK) Nov contracted sales sank 39.4 per cent mom to 372 million yuan, a gain of 33 per cent yoy. (Hong Kong Economic Times A14)

Changsha Zoomlion Heavy Industry Science and Technology (1157 HK) plans to start its IPO on 13 Dec and float on 23 Dec, aiming to issue 870 million shares. Sources close to underwriters disclose that the company's shares will be priced between HK$13.98 and 18.98 each. Maximum offer price a lot is HK$3834.26. CICC, Goldman Sachs and JP Morgan are sponsoring the issue. (Hong Kong Economic Journal P8)

China Automation Group (569 HK) has entered into a term loan facility agreement with a syndicate of banks and financial institutions. The facility agreement relates to the provision of a multi-currency 3.5-year term loan facility amounting to around US$50 million. (SingTao Daily B4)

China Resources Cement (1313 HK) is planning to acquire 50 per cent equity interest in target companies engaging in the production and sale of clinker, cement and concrete in Guangzhou and Hong Kong. The total consideration will be HK$1.24 billion that is intended to be satisfied by internal resources of the company. (SingTao Daily B4)

China Resources Enterprise (291 HK) that is actively expanding its retail network has acquired 98 per cent equity interest in a supermarket situated at Hongcheng, Guangzhou, at a consideration of around 36.7 million yuan. The company plans to open at least 300 retail stores in the mainland next year. (SingTao Daily B3)

Galaxy Entertainment Group (27 HK) proposes to issue 3-yr 1 billion yuan fixed rate senior unsecured bonds. Application has been made to the HKEx (0388) for listing of the RMB denominated bonds. BofA Merrill Lynch, BOCI International, HSBC and UBS are the joint bookrunners. (Hong Kong Economic Journal P12)

Geely Automobile Holdings (175 HK) booked Nov sales volume of 44,160 units of vehicles, up 24.5 per cent yoy, up 10.3 per cent mom. 90 per cent of the full year sales volume target of 400,000 units of vehicles was achieved. (Hong Kong Economic Journal P10)

Hongkong Electric Holdings (6 HK) proposes to change the name of the company from “Hongkong Electric Holdings Limited” to “Power Assets Holdings Limited”, following the recent substantial acquisition of a 40 per cent interest in electricity distribution assets in the UK. (SingTao Daily B3)

IRC (1029 HK) has entered into a contract with CNEEC, a major Chinese state-owned contractor. Under the contract, CNEEC will act as an engineering, procurement and construction contractor for the design and construction of stage 1 of the company’s mining operations at K&S, involving US$400 million (over HK$3.1 billion). (SingTao Daily B4)

Lee & Man Paper (2314 HK) Manufacturing has entered into a facility agreement in relation to a term loan facility amounting to HK$2.5 billion for a period of 6 months, for the refinancing of the existing facilities, general working capital requirements and capital expenditure of the company. (SingTao Daily B4)

Poly (Hong Kong) Investment (119 HK) posted contracted sales of around 10.1 billion yuan for the first 11 months, up 38.4 per cent yoy. Contracted sales area amounted to 1.31 million sqm. (Hong Kong Economic Times A14)

Powerlong Real Estate Holdings (1238 HK) registered a mom jump of 86 per cent in Nov contracted sales, which rose to 1.3 billion yuan. Sales area hit 175,000 sqm. Contracted sales reached around 4.3 billion yuan for the first 11 months. (Hong Kong Economic Journal P13)

SRE Group (1207 HK) plans to acquire a target company that holds two parcels of commercial and residential land located in Jiaxing, Zhejiang, involving US$36 million (around HK$280 million). The two pieces of land have a total site area of more than 129,800 square metres. (SingTao Daily B4)

Yuexiu Property Company (123 HK) has acquired 5 parcels of land, with a total permissible gross floor area of about 818,000 sqm, for residential, office and commercial uses, in Lin-an, Hangzhou at 589 million yuan. It has also agreed to sell to China Resources Enterprise (0291) the entire issued share capital of and the shareholder’s loan to Durman at around 37 million yuan. Durman holds about 98 per cent equity interest in Guangzhou Homecity Supermarket. (Hong Kong Economic Journal P13)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 3rd, 2010

Agile Property (3383 HK) has successfully bid for a commercial and residential site located at Chancheng district, the downtown of Foshan, at a consideration of 530 million yuan. The gross floor area of the land is more than 73,700 square meters, while the land price per floor area is around 7,122 yuan per square meter. (SingTao Daily B3)

Chinalco, parent of Aluminum Corp. of China Limited (2600 HK), has signed a MOU with Rio Tinto in Beijing. Both parties agreed to establish a joint venture company, aiming to explore mineral resources in China. The JV company will be owned by Chinalco and Rio Tinto as to 51 per cent and 49 per cent respectively. (SingTao Daily B3)

China Suntien Green Energy Corp. (956 HK) announces that its CDM project has recently been successfully registered with the United Nations. It expects that the project may contribute to the company’s profit by about 10 million yuan per annum for year 2011 and 2012. (SingTao Daily B3)

CSR Corporation (1766 HK) is actively expanding its overseas markets, planning to raise the proportion of the turnover of its overseas business to 20 per cent in 2015. The company is teaming up with the US-based General Electric Co. for involving in several express rail link construction projects in the US currently. (Hong Kong Economic Journal P4)

Morning Star Resources (542 HK) is planning to dispose the entire issued share capital of Morning Star Securities Limited to VMS Investment Group. The consideration will be the net asset value plus a premium of HK$3 million. The proceeds from the disposal will be used for travel-related service business. (SingTao Daily B3)

Singamas Container Holdings (716 HK) expects to record a profit for the financial year ending 31 Dec 2010 as compared to a loss last year. The positive turnaround of the results is mainly due to growing container demand as a result from improving global trading activities since the end of 2009, higher selling prices, an overall strengthening of internal management and effective cost control strategies. (Hong Kong Economic Times A8)

Viva china (8032 HK), formerly known as Coolpoint Energy Limited, has appointed Michael Ng Chi-man as the chief executive officer and executive director with effect from 3 Dec 2010. Michael Ng worked for China Travel International Investment Hong Kong Limtied (0308) and Shun Tak Holdings Limited (0242) prior to joining the company. (SingTao Daily B3)

Apollo Solar Energy Technology (566 HK) announces that it has successfully secured a sales contract through its indirect wholly-owned subsidiary Apollo Precision (Fujian) Limited, for a total contract sum of around HK$306 million. (Hong Kong Economic Journal P8)

CATIC Shenzhen (161 HK) plans to acquire a target group engaging in logistics, manufacturing and real estate industries from subsidiaries of its holding company AVIC International. The preliminary valuation of the target group was around 4.151 billion yuan. (SingTao Daily B6)

Emperor International (163 HK) plans to acquire a prime site situated in the Yu Shan district of Shanghai from Emperor Entertainment Hotel (0296), at a consideration of around HK$1.063 billion. (SingTao Daily B6)

Futong Technology Development (465 HK) has through its wholly-owned subsidiaries entered into a subscription agreement with subsidiaries of EMC Group. The purpose of signing the agreement is for setting up a joint venture company by both companies. (Hong Kong Economic Journal P8)

Kaisa Group (1638 HK) achieved contracted sales of 784 million yuan in Nov. The total contracted sales from Jan to Nov this year amounted to 8.5 billion yuan, soaring 67 per cent year on year.
(SingTao Daily B6)

Kaisun Energy Group (8203 HK) has acquired a coal firm for US$39 million (around HK$300 million) recently. The company plans to transport most of its products to China and to sell the products after finishing processing. (SingTao Daily B6)

Poly (Hong Kong) Investments (119 HK), which shifted to real estate business last year, hit 10 billion yuan of its home sale turnover this year. The company intends to raise its sales target to 18 billion yuan for 2011, expecting the average price of properties per square meter to rise 15 per cent next year. (Hong Kong Economic Times A10)

Superb Summit International Timber (1228 HK) entered into a strategic cooperative framework agreement with Tianjin Port (Group) Co., Ltd. Both companies agreed to make strategic investments in the other party’s subsidiaries. Superb Summit will make investment in a Tianjin Port’s project for development and construction of a port for imported timber in the harbor-side industrial area of Tianjin Binhai New Area, China. (SingTao Daily B6)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 2nd, 2010

Citigroup assigned a Buy rating to AIA Group (1299 HK), setting a HK$27 price target. Morgan Stanley set target price for the insurer at HK$25.6, with Overweight rating. (Hong Kong Economic Times A10)

Beijing Capital Land Limited (2868 HK) booked contracted sales of 10.4 billion yuan for the first 11 months. Full-year target was achieved. Nov contracted sales area hit 140000 sqm, involving 1.6 billion yuan, up 8 per cent mom, jumping 179 per cent yoy. (Hong Kong Economic Journal P14)

China Datang Corporation Renewable Power (1798 HK) kicked off roadshow yesterday. Sources say that its international placing was fully covered. It introduces 6 cornerstone investors, including China Longyuan Power (0916). (Hong Kong Economic Times A10)

China Petroleum & Chemical (386 HK) and Chevron have entered into an agreement in relation to jointly developing the Gendalo-Gehem natural gas project in Indonesia, foreign media reports. The natural gas project costs more than US$$6 billion. (SingTao Daily B2)

China Pipe Group (380 HK) planned to acquire tin business in Indonesia previously. The company has decided to cancel the transaction, as the Stock Exchange says it might be required to get listing approval. Trading in the company’s shares will resume today. (SingTao Daily B2)

Zhuhai Singyes Renewable Energy Technology Co., Ltd (750 HK), a wholly owned subsidiary of the company, has just signed a contract to supply about 1,300 environmental friendly solar powered houses in Nigeria, with a total contract value of about US$13 million. (SingTao Daily B2)

Mah Chuck On, executive director and executive chairman of operations-Mainland China of Giordano International (709 HK), says that the company has no need to raise proceeds through share placing as it has sufficient capital in hand. The company has intention to acquire medium to small-sized fashion brands in the mainland and purchase new stores to increase point of sale. (SingTao Daily B2)

Kaisa Group Holdings (1638 HK) is proposing to issue US$225 million USD settled 8 per cent convertible bonds due 2015 at an initial conversion price of HK$2.82 each. Net proceeds from the issue will amount to about 1.472 billion yuan. (Hong Kong Economic Journal P14)

Maoye International (848 HK) has successfully bid for two parcels of land located inTaizhou City, Jiangsu Province, with a gross floor area of about 800,000 square metres, for a total consideration of 1.111 billion yuan. The company plans to build a commercial and residential complex, among which more than 300,000 square metres will be designated for the use of a shopping mall. (SingTao Daily B2)

New Environmental Energy Holdings (3989 HK) plans to place a maximum of 202 million shares at HK$0.50 per placing share, seeking to raise net proceeds of HK$98 million. The placing price represents as much as about 37 per cent to its closing price before suspension of trading yesterday. (SingTao Daily B2)

Royale Furniture Holdings (1198 HK) aims to place 75 million shares at a price of HK$3.03 per placing share, seeking to raise HK$227 million, which will mainly be used to fund the expansion of production facilities. The placing price represents about 8.7 per cent to its closing price before suspension of trading yesterday. (SingTao Daily B2)

Shanghai Forte Land (2337 HK) announces that its Nov contractual sales area and sales amount were 83,468 sqm and 1.16 billion, yuan respectively, down 15.8 per cent and up 8.9 per cent yoy respectively. Sales amount for the first 11 months reached 12.548 billion yuan, involving area of around 950000 sqm. (Hong Kong Economic Journal P14)

Shimao Property (813 HK) posted contracted sales of 27.137 billion yuan for the first 11 months, with total sales area of 2.22 million sqm. Average price expanded to 12232 yuan per sqm from the 8713 yuan per sqm in the same period last year. Nov contracted sales stood at 3.479 billion yuan. 91 per cent of the full-year target was achieved. (Hong Kong Economic Journal P14)

It is said that Shui On Land (272 HK) is planning to issue 400 million yuan bonds. Deutsche Bank, Standard Chartered and UBS are arranging for the issue. It issued US$400 million 5-yr 4.5 per cent convertible bonds in Sep. (Hong Kong Economic Times A14)

Sino Resources Group (223 HK) has confirmed to place around 222 million shares at a price of HK$0.35 per placing share, aiming to raise net proceeds of HK$76 million. The placing price represents over 19 per cent to its closing price yesterday. (SingTao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap December 1st, 2010

Capital VC Limited (2324 HK) has planned to place 64.91 million shares at a price of HK$0.35 per placing share, seeking to raise HK$22.17 million. The net proceeds will be used for investment and for general working capital. (SingTao Daily B4)

Cash Financial Services Group (510 HK) proposes to subdivide each existing share into five subdivided shares. The shares are currently traded in board lot size of 2,000 shares. Upon the subdivision becoming effective, the board lot size will be changed from 2,000 shares to 6,000 subdivided shares. (Hong Kong Economic Journal P12)

Champion Technology (92 HK) proposes to raise around HK$271.2 million by issuing 1.808 billion rights shares on the basis of four rights shares for every nine existing shares. The subscription price of HK$0.15 per rights share represents 37.8 per cent discount to the closing price of HK$0.241 per share before the trading suspension. (Hong Kong Economic Journal P12)

Ningbo Port of China Merchants Holdings (International) (144 HK) has raised loading and unloading rates of foreign trade containers by 8 per cent, effective 1st January 2011. (SingTao Daily B4)

China Water Industry Group (1129 HK) aims to acquire interests of several target companies for a maximum aggregate consideration of HK$50 million. The target companies are principally engaged in sewage treatment business in the mainland. (Hong Kong Economic Journal P12)

Chinese Estates Holdings (127 HK) announces that Lau, Ming-wai, a non-executive director of the company, has been appointed as the vice chairman with effect from 1st December 2010. (SingTao Daily B4)

Chongqing Rural Commercial Bank (3618 HK) is set to open its retail book tomorrow. According to its sales documents, the lender will offer 2.185 billion shares, more than the previous market forecasts of 2 billion shares. The IPO size will thus be increased to as much as HK$13.113 billion in terms of an offer price of HK$4.5-HK$6 apiece. (Hong Kong Economic Journal P6)

Guangzhou R&F Properties’ (2777 HK) contracted sales amount for Nov was 4.438 billion yuan, shooting up 103 per cent year on year, and soaring 77 per cent month on month. Sales area went up 45 per cent year on year to 250,600 square meters. (Hong Kong Economic Times A12)

HSBC (5 HK) Private Equity (Asia), a subsidiary under HSBC, has completed acquisition by its management, renaming itself Headland Capital Partners Ltd. (SingTao Daily B4)

Huaneng Power International (902 HK) plans to acquire 50 per cent equity interest in Times Shipping Co., Ltd from its parent China Huaneng Group, at a consideration of 1.058 billion yuan. (SingTao Daily B4)

KH Investment Holdings (8172 HK) aims to acquire the china TV commercial business from Media China Corporation Limited (0419), at a consideration of HK$82 million. (SingTao Daily B4)

Luk Fook Holdings (International) (590 HK) aims to place 42 million shares at a price between HK$23.15 and HK$24.72 by way of top-up placing, seeking to raise up to HK$1.04 billion, according to sales documents. (Hong Kong Economic Journal P6)

Mitsumaru East Kit (2358 HK) has signed a loan agreement with China Water Affairs Group (0855). Pursuant to which the latter agrees to make available to MEK a loan up to an amount of HK$100 million. (SingTao Daily B4)

Pioneer Global Group (224 HK) fetched around HK$54.6 million after disposal of properties situated at North Point for HK$190 million. The properties sold include several units and parking spaces of the podium of blocks 1, 2 and 3, City Garden, North Point and portion of exterior wall thereof for signboard. (SingTao Daily B4)

Skyworth Digital’s (751 HK) first half net profit fell 38 percent to HK$354 million. However, the company expects its gross profit margin to improve in the second half by selling more higher margin LED televisions. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap November 30th, 2010

IPO: China Datang Corporation Renewable Power reportedly will kick off roadshow on 2 Dec. It plans to offer 2.14 billion shares at an offer price ranging between HK$2.33 and 3.18 apiece. (SingTao Daily B4)

AMS Public Transport Holdings (77 HK) saw net profit go down around 35 per cent to about HK$14.8 million for the 6 months ended 30 Sep. Earnings per share was 6.5 HK cents. No dividend was declared. (SingTao Daily B3)

China Gold International Resources (2099 HK) closed at HK$44.95 in the gray market yesterday, 0.6 per cent higher than the offer price. Not taking charges into account, holding a lot generated a paper gain of HK$27. (Hong Kong Economic Times A8)
China Pharmaceutical Group (1093 HK) booked net profit of HK$595 million for the 9 months ended the end of Sep, down 21 per cent. EPS was 38.76 HK cents. No dividend was declared. (SingTao Daily B4)
Dickson Concepts (International) (113 HK) saw turnover fall 18.4 per cent to HK$1.45 billion for the 6 months ended 30 Sep. Net profit plunged 24.7 per cent to HK$61.07 million. EPS was 16.4 HK cents. It has resolved to declare an interim dividend of 13 HK cents a share, same as last year. (Hong Kong Economic Journal P7)

Intime Department Store (Group) (1833 HK) announces an acquisition of Hubei Wuluo from a company controlled by its chairman Shen Guojun. Consideration is 56.5 million yuan. (SingTao Daily B4)

MIE Holdings (1555 HK) offers 662 million shares, 441.334 million of which is new shares, 220.666 million of which is existing shares, at an offer price ranging between HK$1.7 and 2.16 a share. One thing worth noticing is that PetroChina Company (0857) was its only client in 1H10. (Hong Kong Economic Journal P4)

Trading in NetDragon Websoft (777 HK) shares has been suspended after the shares advancing 20 per cent to HK$3.94 yesterday. The company says that it is in preliminary negotiation with IDG and other possible investors in relation to the establishment of fund. (Hong Kong Economic Journal P6)

Pacific Plywood Holdings (767 HK) places 321 million new shares at a price of HK$0.105 per share to raise HK$33.7 million. (SingTao Daily B3)

ShiFang Holding (1831 HK) decided to fix the offer price at HK$3.03, the lower end of the range. It will list in HK on 3 Dec, Friday. (Hong Kong Economic Times A8)

Huaneng Power International (902 HK), Inc. announces that CSRC has approved its private placement of not more than 500 million overseas listed shares with a par value of 1 yuan apiece, all of which are ordinary shares. (SingTao Daily B3)

Skyworth Digital Holdings (751 HK) booked net profit of HK$354 million for the 6 months ended 30 Sep, down 38.22 per cent yoy. It has resolved to pay an interim dividend of 5 HK cents a share. Shareholders may choose to receive interim dividend in the form of new shares. (Hong Kong Economic Times A10)

Tack Fat Group International (928 HK) lost over HK$98 million for the six months ended 30 Sep. Loss per share was 4.5 HK cents. No dividend was declared. (SingTao Daily B3)

Truly International Holdings (732 HK) recorded net profit of around HK$263 million for the 9 months ended the end of Sep, down 7.8 per cent yoy. The company has resolved to pay a third interim dividend of 8 HK cents per share. It also proposes a one-for-ten bonus issue of shares. (SingTao Daily B3)

3 executive directors of Xiwang Sugar Holdings (2088 HK) have resigned, including 2 founders Wang Liang and Wang Cheng Qing and an executive director Liu Ji Qiang. Zhang Yan, Wang Di and Song Jie have been appointed as executive directors with effect from yesterday. (Hong Kong Economic Journal P2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard