Hong Kong Stock Market Wrap Oct. 19th, 2011

China Coal Energy (1898 HK) announces that the Wangjialing Coal Mine, which involved in a flooding accident last year, has passed safety inspection by the relevant local authorities of Linfen City of Shanxi Province. It is expected to resume its construction. (Hong Kong Economic Times A12)

China Resources Cement (133 HK) acquires the entire equity interest in Fujian Zhangping Zhenhong Cement at a consideration of RMB292.0 million. The latter operates a 2500 ton per day clinker production line and 2 cement grinding lines with total annual production capacity of 1.0 million tons in Zhangping Municipality of Fujian Province. (Hong Kong Economic Times A14)

China Resources Gas (1193 HK) announces that it has proposed to privatize Zhengzhou China Resources Gas. (Hong Kong Economic Journal B2)

China State Construction International Holdings Limited (3311 HK) announced for the nine months ended 30 September 2011, the operating profit went up 30.7 pc year-on-year to around HK$1.2 billion. (Singtao Daily B6)

In September, China Unicom’s (762 HK) additions of 3G service subscriptions reached 2.362 million and the number of 3G service subscribers was over 30 million. (Singtao Daily B4)

Datang International Power Generation (991 HK) announces that its total power generation for the first three quarters was 150.9784 billion kWh as of 30 September, up 17.56pc yoy. (Hong Kong Economic Journal B2)

Haier Electronics (1169 HK), along with UK’s Home Retail Group, plans to set up a joint venture HH Retail in China to develop multi-channel general merchandise retailing business under the brand of “Argos”. Haier Electronics expects this JV will come into operation in the next year with an aim of expanding the model of multi-channel retailing business into major regions in China. (Singtao Daily B3)

HSBC (5 HK) German unit HSBC Trinkaus & Burkhardt AG said it has withdrawn from the bidding process for WestLB corporate financing businesses after it could not reach an agreenment on conducting exclusive talks with WestLB regarding this purchase. (Singtao Daily B6)

PICC Property and Casualty Company (2328 HK) announced for the first nine months, its premium income grew 12.03 pc from RMB118, 372 million in the same period last year to RMB132, 609 million.
(Singtao Daily B6)

Sichuan Expressway (107 HK) announces that it has won the tender for the project in connection with the investment in and construction of the Suining-Guang’an Expressway and Suining-Xichong Expressway to be situated in Sichuan Province with a total length of about 162.671km. (Hong Kong Economic Times A14)

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

Hong Kong Stock Market Wrap Oct. 18th, 2011

The turnover of China Overseas Land & Investment (688 HK) decreased by 18 pc in September. For the first three quarters, the operating profit reached HK$16.73 billion, up 46.8 pc year-on-year. (Singtao Daily B4)

China Pacific Insurance (2601 HK) announced for the third quarter this year, its net profit reached RMB1.2 billion, up 35.7 pc. The basic earnings per share were HK$0.14. (Singtao Daily B5)

Great Wall Motor Company (2333 HK) expects its net profit will record an increase of over 50 pc for the nine months ended 30 September 2011, benefiting from rising sales of automobiles during the period. (Singtao Daily B5)

Guoco Group (53 HK) bought a total of 19.8 million shares of the Bank of East Asia in less than one month, taking its shareholding in the bank to around 14.03pc, according to data from the HKEx. (Hong Kong Economic Times A11)

Qin Jia Yuan Media Services (2366 HK) is considering certain fund raising exercises but they may or may not proceed in the end. (Hong Kong Economic Journal A10)

Rosedale Hotel (1189 HK) has entered into a MOU involving a proposed disposal of its stake in Rosedale Hotel Kowloon and a proposed lease back of the hotel. The total consideration will be roughly HK$1,314,625,000. (Hong Kong Economic Journal A10)

Standard Chartered’s (2888 HK) biggest shareholder Temasek announces an issue of up to S$800 million zero-coupon bonds that can be exchanged into Standard Chartered shares. Temasek currently holds 18.2pc stake in the bank. (Hong Kong Economic Times A11)

Swire Pacific Ltd. (19 HK) announced to issue US$3.5 billion medium term notes and appointed HSBC and Morgan Stanley as arranging banks. (Singtao Daily B5)

Temujin International Investment (204 HK) expects a profit for the 6 months ended 30 September 2011 mainly on a gain on redemption of CBs during the period. (Hong Kong Economic Journal B1)

Lanson Place Hospitality Management Limited, (369 HK) a subsidiary of Wing Tai Properties Ltd., has singed a new contract to manage serviced apartments under the Luxiangyuan Project, Shanghai. Lanson Place manages and operates nine projects in Asia. (Singtao Daily B5)

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

Hong Kong Stock Market Wrap Oct. 17th, 2011

361 Degrees (1361 HK) announced yesterday its quarterly results ended September 30, 2011, the number of retail outlets increased to 7,810 with a total retail area of 784,745 square metres. Its same store sales growth went up 14.1 pc while the channel inventory ratio was 3.8 times. (Singtao Daily B4)

It is reported that Aluminum Corporation of China (2600 HK) plans to list its Peru copper mine assets in HK to raise up to about HK$7.8 billion in the 1H of next year. (Hong Kong Economic Journal A11)

Credit Suisse (2020 HK) lowered its rating on mainland sports product sector from Hold to Underweight. Rating and price target for ANTA Sports Products are cut to underperform and HK$6.8 respectively. (Hong Kong Economic Journal A4)

CM bank (3968 HK) has received an approval from the CBRC. The commission has in principle agreed on the bank’s plan for rights issue of its A and H shares and issued a regulatory letter of opinions. (Hong Kong Economic Journal B1)

Hebei Natural Gas (956 HK), 55 pc and 45 pc respectively owned by China Suntien Green Energy and the Hong Kong and China Gas (003), will tie up with PetroChina (857) and BE Group to set up a joint gas receiving terminal in Tangshan exploring markets in Beijing, Tianjin and Hebei Province. Hebei Natural Gas will contribute RMB520 million cash into this establishment. (Singtao Daily B5)

China Zhongwang (1333 HK) announces a purchase of equipment for production of aluminium flat rolled products from three companies China Machinery, CEIEC and Great Dynasty for a total of US 3.78 billion. (Hong Kong Economic Times A13)

For the third quarter this year, CLP’s (2 HK) energy business outside Hong Kong surged 100 pc to HK$43.8 billion. Such a significant increase was mainly contributed by revenue from the New South Wales (NSW) energy assets acquired in March and a 16.8 pc increase in the average exchange rate of the Australian dollar. CLP maintains a dividend payment of HK$0.52 per share in the third quarter. (Singtao Daily B4)

For the six months ending 30 September this year, Freeman Financial Corporation (279 HK) may record a significant decrease in profit, which is mainly due to the net realized and unrealized losses in investment for trading. (Singtao Daily B5)

IPE Group (929 HK) announces that owing to severe flooding its production factory in Thailand has been closed for the time being since 14 October, saying that at present it is not possible to evaluate the likely impact on its business. (Hong Kong Economic Times A13)

Shenzhen Development Bank Co., Ltd., (2318 HK) a subsidiary of Ping An Insurance (Group), expects the net profit for the third quarter to increase by 70-80 pc up to RMB3, 058 million. Such an increase is partly due to the effect from consolidated financial statements. (Singtao Daily B2)

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

Hong Kong Stock Market Wrap Oct. 14th, 2011

IPO: Technovator International kicks off the initial public offering today aiming for HK$122 million-HK$146.4 million. Investors should subscribe for HK$2,424.19 for a board lot and the issue is priced at HK$1-HK$1.20 per share. (Hong Kong Economic Journal A10)

Cheung Kong Infrastructure (1038 HK) has announced it completed the acquisition of British utility Northumbrian Water Group (NW). Cheung Kong Infrastructure expects the relevant acquisition to bring 2.5 months’ profit in this fiscal year. (Hong Kong Economic Times A12)

Sources said that HSBC (5 HK) in India has asked at least 15 middle and senior-level employees to leave. (Singtao Daily B14)

Ming Fai International (3828 HK) announced its first-half net profit surged nearly 40 pc this year and the company plans to expand its “Seven-Color Flower” businesses by increasing 100-200 stores to contribute up to 30 pc of business revenue next year. (Singtao Daily B14)

Zijin Mining (2899 HK) is said to have sold around US$175 million of Glencore convertible bonds. Goldman Sachs Group Inc. managed the sale. (Singtao Daily B14)

Agritrade Resources (1131 HK) announces a disposal of 2 tugs and a barge for a consideration of approximately HK$18,822,000. The group estimates that it will book a loss from the disposal of roughly HK$6,486,000. (Hong Kong Economic Journal B1)

China Forestry (930 HK) says its independent board committee has appointed a major accounting firm to carry out a forensic review for the period from 2006 to 2010 on irregularities and other matters as well as an internal control review of its financial, operational and management aspects. (Hong Kong Economic Times A10)

Geely Automobile Holdings (175 HK) announces that its total sales volume for September was 32,430 units, up around 0.5% yoy and up around 26.7% mom. The total sales volume in the 1st 3Qs of 2011 was 293,232 units, up 6.6% yoy. (SingTao Daily B3)

Northeast Electric Development (42 HK) expects its results to return to the black with a net profit of approximately RMB14,000,000 and EPS of RMB0.016 for the first 3Qs this year. (SingTao Daily B3)

Qin Jia Yuan Media Services (2366 HK) issues a profit warning, saying that it is likely to register a considerable drop in the profit for the 2H of the year ended 30 September 2011. (Hong Kong Economic Journal B1)

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

Hong Kong Stock Market Wrap Oct. 13th, 2011

China Boon Holdings (922 HK) plans to acquire 43.35pc of the entire equity interest of Chongqing Bai Ta Yuan Funeral Services at a consideration of RMB66,800,000. China Boon will inject after the acquisition a sum of RMB30,000,000 in the latter, which will take its shareholding in Chongqing Bai Ta Yuan Funeral Services to 51pc. (SingTao Daily B5)

After 9 months’ suspension, China Coal Energy (1898 HK) released the first three-quarter productive and operational data. Its January-September coal output grew 8 pc to 77.48 million tons and sales rose 13.4 pc to 99.71 million tons. The September production volume declined over 7 pc because of partial suspension of coalmines for inspection and weather factors. (Hong Kong Economic Times A13)

China Overseas Grand Oceans (81 HK) booked turnovers of HK$1,180.1 million and HK$3,234.3 million for the 3 months and 9 months ended 30 September 2011 respectively. Operating profits were HK$720.7 million and HK$2,080.9 million respectively for the relative periods. (SingTao Daily B6)

Chuang’s Consortium International (367) and Chuang’s China Investments (298 HK) both issue a positive profit alert, expecting a substantial yoy rise in profit for the 6 months ended 30 September 2011 mainly on an increase in the revenues and gross profit on sales of properties recognised. (SingTao Daily B6)

The third-quarter same store sales of Daphne International Holdings Limited (210 HK) went up 23 pc. The first three quarter growth rate was 19 pc. Daphne International added up to 461 selling points, including 398 directly managed stores and 63 franchised stores, as of the end of September. (Hong Kong Economic Times A13)

According to a market research agency IDC, Lenovo (992 HK) has ranked as the No.2 PC producer worldwide in the third quarter with around 13.7 pc market share over Dell’s. Sales of Lenovo have outperformed the market for the ninth quarter in a row. (Hong Kong Economic Times A14)

IPO: China’s insurer New China Life Insurance Co. Ltd. plans to kick off its public hearing for the initial public offering this month to further advance its A+H share public listing plan worth of US$4 million, according to Thomson Reuters IFR Markets, the insurer has gained promise from several cornerstone investors for share subscription. (Hong Kong Economic Journal A14)

After a number of directors have resigned over the past few months, Real Gold Mining (246 HK) announces again that Deloitte Touche Tohmatsu resigned as its auditors with effect from 12 October 2011. (SingTao Daily B6)

Stella International Holdings Ltd. (1836 HK) announced its first three-quarter revenue grew 17.2 pc to US$1,138 million, comparing with that of the same period last year, which was mainly benefited from the strong growth in manufacturing and retail operations. (Hong Kong Economic Times A13)

Walker Group Holdings (1386 HK) shares have been dropping since it issued a profit warning last week. The company says a substanital shareholder has informed that he plans to decrease its stake in the company.
(SingTao Daily B4)

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

Hong Kong Stock Market Wrap Oct. 12th, 2011

In September 2011, Air China’s (753 HK) passenger traffic increased by 5.8 pc to 4.206 million and airfreight traffic went down by 2.5 pc year-on-year to 103,000 tons. (Hong Kong Economic Times A17)

David LI Kwok-po, chairman of the BEA (23 HK), bought 100,000 shares of the bank at HK$24.458 each on average on Monday, taking its shareholding in the bank to 2.96pc. (SingTao Daily B7)

Belle International (1880 HK) announced its shoe business recorded an increase of 18.5 pc in same store sales for this third quarter. Its sportswear business reported 2.5 pc same store sales for the same period. (Hong Kong Economic Times A17)

Mainland sources reported that CSR (1766 HK) and CNR’s parent companies will receive RMB2 million cash injections respectively from the government. Shares in CSR surged 14 pc to HK$3.44 yesterday. (Hong Kong Economic Times A17)

CST Mining (985 HK) announced yesterday a discovery of a new copper deposit “Lady Colleen” at its Lady Annie Copper Operation in northwest Queensland, Australia, which sent its share price up 25pc to end at HK$0.125 yesterday. (SingTao Daily B4)

Evergrande Real Estate (3333 HK) said its contract sales for the first nine months this year increased by 79.4 pc year-on-year to RMB9.16 billion, approaching its whole-year sales target of RMB70 billion. The company is confident that it will realize this target within this year and considers price markups to slow down the selling speed. (Hong Kong Economic Times A16)

Heng Xin China Holdings (8046 HK) announces that Tao Chi Keung has resigned as its CFO. Executive director Feng Yongming and financial controller Cheng Kit Sum Clara will take on certain major roles of the post until a full time replacement is hired. (SingTao Daily B7)

Huadian Power International Corporation (1071 HK) announces that, as at 30 September, the power generated for the 1st 3Qs amounted to 111.67 million MWh, surging around 16.82pc. The on-grid electricity sold reached 104.29 million MWh, up about 17.25pc. (SingTao Daily B7)

Shareholders of PCCW (8 HK) approved the spin-off of a telecommunications business trust yesterday, making a further step towards its separate listing in Hong Kong. The projected public offering will be proceeded if a minimum valuation of HK$28.6 billion is achieved for this trust. PCCW valued at HK$21 billion yesterday. (Hong Kong Economic Times A16)

Texhong Textile Group (2678 HK) expects its earnings for the year ending 31 December 2011 to plunge as the cotton price rose to exceptionally high level during the 2H of 2010 and then fell this year. (SingTao Daily B7)

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

Hong Kong Stock Market Wrap Oct. 11th, 2011

AIA (1299 HK) will inject over HK$100 million each year into its training program, AIA Premier Academy, to attract talents into the team. AIA Group will offer to grant share options to certain employees under its share option scheme adopted in August 2011. (Hong Kong Economic Times A12)

Changsha Zoomlion Heavy Industry Science and Technology Development (1157 HK) estimates that from 1 January 2011 to 30 September 2011 net profits attributable to the parent company amounted to RMB5,800 million to RMB6,000 million, up 86% to 92% yoy. (SingTao Daily B7)

Sinopec Corp., (386 HK) and Russia's top petrochemical holding company SIBUR signed a memorandum for two planned joint ventures for the production of butadiene nitrile rubber in the cities of Krasnoyarsk and Shanghai. The production capacity of the Krasnoyarsk rubber plant in Russia will be increased to 56,000 metric tons per year from 41,000 metric tons per year, while the Shanghai plant aims to expand an annual production of 50,000 metric tons. (Hong Kong Economic Times A12)

Emperor Watch & Jewellery (887 HK) has started discussion with independent third parties on possible investment opportunities to expand its existing business. With the talk being at a preliminary stage, no formal written agreement has been entered into. (SingTao Daily B7)

Hidili Industry International Development (1393 HK) announces that, for the three months ended 30 September 2011, the sales volume of clean coal rose 21% to 443 thousand tonnes while that of coke slid 55% to 40 thousand tonnes. (SingTao Daily B7)

Maoye International (848 HK) recorded a significant increase in concessionaire sales of 49.45 pc including a 23 pc growth in same store sales for the first three quarters this year. (Hong Kong Economic Times A12)

Before gaining the approval from shareholders on a separate listing of its Business Trust, PCCW (8 HK) chairman Richard Li injected HK$11.92 million to overweigh 4.14 million shares in the company yesterday. (Hong Kong Economic Journal A8)

Tianneng Power International Ltd. (819 HK) slashed the selling price of its battery products by 6-7 pc in average. The company noted that the decline in cost far exceeded the decrease in selling prices and expected its profitability will not be affected. (Hong Kong Economic Times A8)

Unity Investments announces (913 HK) a rights issue at a subscription price of HK$0.1 a rights share on the basis of 2 rights shares for every share held to raise funds for general working capital and future investments. (SingTao Daily B7)

Vital Group Holdings (1164 HK) is engaged in negotiations regarding a potential continuing connection transaction in relation to trading of natural uranium materials with an associate of China Uranium Development. No written agreement or MOU has been entered into. (SingTao Daily B7)

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

Hong Kong Stock Market Wrap Oct. 10th, 2011

Alibaba Group (1688 HK) intends to buy back 40 pc stake, valued around US$13 billion, from Yahoo, a big shareholder of the group. Alibaba has talked with Singapore's Temasek Holdings Pte about providing financing to buy the stake and Temasek can overweigh its stake in the group after the close of this transaction. (Hong Kong Economic Journal A9)

Fiyta Holdings, subsidiary of CATIC Shenzhen (161 HK), announces that its earnings for the first 9 months this year amounted to RMB 137,000,000, up 10pc yoy. EPS was approximately RMB 0.34. (SingTao Daily B5)

CDC Corporation (8006 HK), controlling shareholder of China.com Inc., has filed for bankruptcy protection in the US. The shares of China.com Inc. ended at HK$2.04 each, falling 7.3pc. (SingTao Daily B5)

China New Town Development (1278 HK) announces that 2 land parcels for residential use in Shanghai Luodian project were listed by the Shanghai Municipal Bureau of Planning and Land Resources last Saturday. (SingTao Daily B5)

Sinopec (386 HK) agreed to buy a Canadian company, Daylight Energy Ltd. for C$2.2 billion (around HK$16,685 million). Daylight’s 69 oil and gas fields are located at the Northwest of Alberta and the Northeast of British Columbia and produce around 38,000 barrels of oil equivalent per day in the first half of 2011. (Hong Kong Economic Times A12)

Fairwood Holdings (52 HK) expects its same store sales in Hong Kong to grow 5-6 pc this year and its Mainland revenue to record a double-digit increase. The company plans to open around four new stores in Hong Kong and Mainland China. (Hong Kong Economic Times A12)

GCL-Poly Energy Holdings Ltd. (3800 HK) has signed a 5-year letter of intent of supply 1GW of “GCL Quasi-Mono Wafer” to Tainergy Tech. It is a part of the strategic cooperation for the both in priority purchase of raw materials and cooperative subcontracting on solar related areas. (Hong Kong Economic Times A12)

HSBC Holdings (5 HK) agreed to sell a 94 percent stake in its Hungarian consumer finance portfolio through its subsidiary HSBC Credit Zrt. to Cofidis Magyarországi Fióktelepe. The transaction, valuing the gross assets of the portfolio at US$27 million as of August 31, 2011, is expected to finish in first-quarter 2012. (Hong Kong Economic Journal A9)

Milan Station (1150 HK)announces that during the Golden Week it recorded an increase in sales of 36.2pc, reaching HK$22 million. (SingTao Daily B5)

Shandong Chenming Paper (1812 HK) announced yesterday that Wang Zaiguo and Zhao Liqun had resigned as its deputy general managers taking effect on yesterday by reason of family matters respectively. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap Oct. 7th, 2011

Chanco International Group (264 HK) forecasts that for the six months ended 30 September 2011, its net profit may record losses compared with the net profit of HK$1.4 million for the same period last year. Losses are mainly due to the significant decrease in sales and profit margin caused by reduction of orders from overseas. (Singtao Daily B14)

After S& P downgraded the credit rating of Chaoda Modern (682 HK), Moody’s cut the company’s credit rating from Ba2 to Ba3. (Hong Kong Economic Journal A4)

Epicurean (8213 HK) and Company proposes to raise HK$32.9 million proceeds through rights issue of one rights share of HK 6 cents per rights share for every two existing shares of the company. (Singtao Daily B14)

ICube Technology Holdings Limited (139 HK) forecasts that the results of the company may record a substantial loss for the six months ended 30 September 2011, which is mainly due to an unrealized loss on the fair value changes on the listed securities of the company. (Singtao Daily B14)

MTR (66 HK) announced that CDC Corporation has filed for bankruptcy protection on 4 October 2011. The MTR Chairman, Dr. Raymond Ch’ien Kuo-fung, has resigned as the chairman and non-executive director of CDC on 3 October 2011. (Hong Kong Economic Journal A4)

China Environmental Energy Investment (986 HK) announces that the placing agent places on a best effort basis convertible notes up to an aggregate principal amount of HK$110,000,000. (Hong Kong Economic Journal B2)

China Longyuan Power Group (916 HK) announces that, according to preliminary statistics, its power generation for September on consolidated basis amounted to 1,989,200MWh, up 31.40% yoy. As at 30 September 2011, its total power generation for 2011 amounted to 18,582,170MWh, advancing 21.56% yoy. (Hong Kong Economic Times A16)

China Metal International (319 HK) announces that Ho Ming-Shiann has tendered his resignation as its chairman and executive director. Ho was convicted and sentenced to 6 months imprisonment, which can be commuted to a fine in lieu of imprisonment. (SingTao Daily B12)

Intime Department Store (Group) (1833 HK) announces that its total sales for the 9 months ended 30 September 2011 rose 37.7% yoy to RMB 7.805 billion. Same store sales surged 28.0% yoy to RMB 7.207 billion. (Hong Kong Economic Journal B2)

SIM Technology Group (2000 HK) announces that its unaudited monthly revenue for September is around HK$226.8 million and its unaudited revenue for the 9 months ended 30 September 2011 is roughly HK$1,867.8 million. (Hong Kong Economic Journal B2)

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

Hong Kong Stock Market Wrap Oct. 6th, 2011

Asia Cement (China) (743 HK) expects its net profit attributable to owners for the first 3Qs this year to skyrocket 450% from the RMB168.4 million of the corresponding period of the previous year. (Hong Kong Economic Times A10)

CITIC Securities (HK) (6030 HK) debuted on the bourse yesterday. The shares plunged to HK$11.9 each at one point but returned to HK$13.3 at the end of the day. (Hong Kong Economic Journal A10)

CLP Holdings Ltd.’s (2 HK) Jiangbian Hydro Power Project has officially entered operation, the latest asset added to the renewable energy portfolio in Chinese Mainland. The Jiangbian Hydro Power Station is expected to reach an annual output of 1,455 million kilowatt hours to provide clean energy to Sichuan’s provincial power grid. (Singtao Daily B5)

C Y Foundation (1182 HK) announces that the re-election of Cheng Chee Tock Theodore as director was voted down at its AGM yesterday and Cheng ceased to be its director at the conclusion of the meeting. His duties had been suspended since 8 April due to his involvement in ICAC investigation. (Hong Kong Economic Journal A10)

Dah Sing Bank (2356 HK) expects to issue up to nearly 100,000 brand new Dah Sing The Link Happy Visa Cards this year, which are jointly launched with Link Reit (823). (Singtao Daily B5)

Eternite International (8351 HK) plans to focus on Mainland market through its two high-end jewelry brands “Larry” and “Vera”. The company will open the first Mainland “Larry” store in Beijing next year as a step towards its goal of 2-3 stores there. The other new brand “Vera” is expected to show its first presence in Beijing at the end of the year. (Singtao Daily B3)

According to foreign sources, HSBC (5 HK) is in talks with Oman Intl Bank OIB.OM over a sale of its operations in the country. Reuters reported that HSBC has approached Japanese insurers on sale of non-life insurance unit. The companies, MS&AD Insurance, Tokio Marine and NKSJ Holdings, are studying the plan to determine whether they will participate in bidding. (Singtao Daily B5)

PCCW (8 HK) plans to list its telecom trust in Hong Kong in November if shareholders approve the plan at a meeting next Wednesday, two people with knowledge of the matter noted. The company is expected to kick off early contact with potential investors in Mid October. A spokesperson at PCCW declined to comment on the listing timetable. (Singtao Daily B4)

Sustainable Forest (723 HK) announces that a wholly owned subsidiary Amplewell Holdings disposes its Russian timber business for a consideration of HK$208,000,000. (Hong Kong Economic Journal B2)

VXL Capital (727 HK) says a claim has been filed in the Labour Tribunal against it by its former CEO for a sum of HK$30,000,000, alleging that it owes the former CEO payment of a discretionary bonus. (Hong Kong Economic Journal A10)

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

Hong Kong Stock Market Wrap Oct. 4th, 2011

Government of Singapore Investment Corp. (1898 HK) has injected HK$102 million for 291 million shares in China Coal Energy Company. The company’s stake holding in China Coal Energy Company has increased to 7.09 pc. (Singtao Daily B4)

An outflow accident of high temperature molten iron of one of Fosun International’s (656 HK) furnaces happened in Nanjing in the morning on 5 August, causing 11 dead, 1 missing and 1 injured. (Hong Kong Economic Journal A7)

GLC-Poly Energy Holdings Ltd. (3800 HK) announces that it has developed a new type of wafer “GCL Quasi-Mono Wafer”, which contributes to a part of its technologically innovative blue ocean strategy. This wafer has already been utilised by Canadian Solar, the strategic cooperation partner of the company, in the manufacturing of the “GCL-CSI” co-brand high efficiency 265W solar modules. (Singtao Daily B4)

Government of Singapore Investment Corp. (GIC) has overweighed 1.88 million shares in Li Ning Company at a consideration of HK$15 million on 30 September. GIC currently holds 63.64 million shares in Li Ning. (2331 HK) (Singtao Daily B4)

Standard Chartered (2888 HK) plans to enhance its onshore presence in Africa through the set-up of private bank and other businesses. Shayne Nelson, the CEO of StanChart's private bank, said that the tough regulation standards have asked private banks for more operating costs. (Singtao Daily B4)

Standard & Poor's Ratings Services cuts its long-term corporate credit rating on Chaoda Modern Agriculture (682 HK) to “BB-“ from “BB” and places the rating on CreditWatch with negative implications. (SingTao Daily B2)

Kaisa Group Holdings (1638 HK) posted contracted sales of RMB 2 billion in September, an increase of 219 percent. (SingTao Daily B2)

Mascotte Holdings (136 HK) announces a purchase of 49.9pc of the issued shares of Sun Mass Energy for HK$2,500,000,000. The latter after the deal will become its wholly owned subsidiary. (SingTao Daily B2)

Sinotrans (598 HK) issues 3.3pc 3-year dim sum bonds to raise RMB 2.6 billion. Banks arranging for the issue include Wing Lung Bank. (Hong Kong Economic Journal A4)

Walker Group (1386 HK) expects a loss for the 6 months ended 30 September 2011 mainly on escalating operating costs in China and HK such as rental rise. (Hong Kong Economic Journal B1)

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

Hong Kong Stock Market Wrap Oct. 3rd, 2011

Burwill Holdings (24 HK) announces that Miao Gengshu and Sze Tsai Ping, Michael resigned as its independent non-executive director and non-executive director respectively, with effect from 1 October. (Hong Kong Economic Journal B1)

China Agrotech Holdings Ltd. (1073 HK) announced that for the six months ended 30 June 2011, its net profit increased by 325 pc to HK$127 million. The basic earnings per share were HK18.49 cents. No dividend was announced. (SingTao Daily B2)

China Everbright International (257 HK) said yesterday that both the Jinan Reusable Water Project and Zibo Reusable Water Project (“Zibo Project”) Phase I have commenced operation last month. These two projects reach daily water supply capacity of 47,000 m3 for industrial use. The company noted that the projects will serve as the profit driver as they progress from the internal water use to the external water supply. (SingTao Daily B3)

Dah Chong Hong (1828 HK) announces that, with effect from 1 January next year, chairman and executive director Hui Ying Bun will be re-designated as its non-executive director but will remain as its chairman. (Hong Kong Economic Times A12)

JP Morgan revises its price target for Hang Seng Bank (11 HK) down from HK$110 to HK$105. (Hong Kong Economic Times A12)

HSBC (5 HK) has agreed through HSBC Capital (Canada) to dispose its Canadian private equity fund management and mezzanine debt business. The business being sold had gross assets of roughly C$2m at the end of June this year. Completion of the deal is expected in the fourth quarter. (Hong Kong Economic Journal A7)

Silver Base Group (886 HK) forecasts a significant increase in its interim profit for the six months ended 30 September 2011 as compared with the corresponding period in last year. The company reported a profit of HK$215 million in the interim result in last year. (SingTao Daily B5)

Sinotrans Shipping (368 HK) has entered into an agreement with BOCI Asia, agreeing to purchase and pay for RMB280,000,000 aggregate principal amount of 3.3 per cent notes due 2014 issued by a wholly owned subsidiary of its parent. (Hong Kong Economic Times A12)

The Bank of East Asia (23 HK) said it has established a program allowing it to issue up to US$3 billion worth of medium term notes. The bank noted in a statement yesterday that this issuance “as a platform will enable it to achieve greater flexibility and diversity in asset and liability management” in a medium to long term. (SingTao Daily B4)


Yorkey Optical International (Cayman) (2788 HK) will establish a Joint Venture (JV) with PBL in Brazil. The JV intends to engage in the manufacture and sale of optical and opto-electronic products. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap Sept. 30th, 2011

Ma Yun, chairman of Alibaba.com (1688 HK), says the company is “very interested” in buying Yahoo!. The two companies have had discussions regarding the matter but fail to give any timetable. (Hong Kong Economic Times A12)

China Coal Energy Company Ltd (1898 HK). announced that its two underground mines located at Anjialing in Shanxi Province resumed production after a two-week suspension of production. The other three mines are commencing their safety inspection. (Hong Kong Economic Times A12)

CHIHO-TIANDE Group (976 HK) has received US$70 million worth of mid-term working capital loans from China Development Bank at the end of September. The amount will be mainly applied in corporate business expansion and daily business turnovers such as purchase of raw materials. (SingTao Daily B12)

Chu Kong Petroleum And Natural Gas Steel Pipe Holdings Ltd. (1938 HK) has received new orders of 186,000 tonnes of steel pipes in this third quarter, in addition to the total orders of 355,000 tonnes as at December 31, 2010 and the total orders of 215,000 tonnes for the first half of 2011. The company has received orders of 755,000 tonnes as at September 30, 2011. (Hong Kong Economic Journal A14)

Hang Seng Bank (11 HK) introduces a preferential interest rate for Hong Kong dollar time deposits. Banking customers may enjoy a preferential annual interest rate of 1.8-2.2 pct for 4-month, over HK$200,000 savings accounts. (Hong Kong Economic Times A12)

Carry Wealth Holdings (643 HK) announces its decision to temporarily cease the operation of its factories in Indonesia. (SingTao Daily B3)

China Aoyuan Property (3883 HK) acquired through public auction a parcel of land with a site area of 66,700 sqm at Pengjiang District, Jiangmen through a subsidiary owned as to 51pc by it at the minimum bidding price of RMB203,000,000. (SingTao Daily B3)

Kingsoft Corporation (3888 HK) announces that Donghui Wang has resigned as its executive director and chief financial officer and Shun Tak Wong has been appointed as its chief financial officer. (Hong Kong Economic Journal B1)

Newtree Group Holdings (1323 HK) announces that Able Bright has entered into a share charge, creating a charge over 276,666,200 shares out of 476,666,000 shares held by it in favour of Sun Finance Company as security for a 6-month term loan of HK$150,000,000 to independent third parties. (Hong Kong Economic Times A14)

Yanzhou Coal Mining Company (1171 HK) announces that its transaction to acquire through a subsidiary 19 potash mineral exploration permits in the Province of Saskatchewan, Canada for US$260 million has been approved by the two relevant countries. (Hong Kong Economic Times A14)

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

Hong Kong Stock Market Wrap Sept. 28th, 2011

China Communications Construction (1800 HK) announces that the CSRC has approved its A share issue application. It plans to issue not more than 3.5 billion A shares. (Hong Kong Economic Times A12)

Minth Group (425 HK) announces that a subsidiary sets up a JV company with Tokai Kogyo. The JV company will engage in the research and development, manufacture, production and sale of resin products, plastic injection products, key automobile parts and components. (Hong Kong Economic Journal B2)

Shanghai Electric Group (2727 HK) announces that it has appointed Chen Ganjin as its chief operating officer with effect from 28 September and the term of office ends at 14 December 2013. (SingTao Daily B5)

The Sincere Company (244 HK) expects its unaudited interim results for the 6 months ended 31 August this year to report a considerable increase in loss as compared to the corresponding period ended 31 August 2010. (Hong Kong Economic Journal B2)

Winteam Pharmaceutical Group (570 HK) announces that a subsidiary will buy the entire equity interest of Nanhai Yikang at a consideration of RMB6.8 million. (SingTao Daily B5)
CATIC Shenzhen (161 HK) is planning to reorganize the board of directors and renamed the company. (Sing Tao Daily B4)
China Railway (390 HK) purchased all the shareholdings of Henan Pingzheng Expressway Development Co., Ltd. for RMB 303 million from China Railway Engineering Corporation. (Hong Kong Economic Times A8)

Hang Lung Properties Limited (101 HK) won the bids of land lots in Kunming by RMB 3,497 million (about HK$4,285 million). The investment of the land lots will be HK$10 billion for the developments of shopping malls, offices and servicing housing. (Sing Tao Daily B4)

Modern Education (1082 HK) annual results for the year ended 30 June 2011 shows the net profit is 20.69 million dollars, which had reduced 48.4% compared to last year. (Hong Kong Economic Times A8)

The director of Sa Sa (178 HK) estimated the company capital outcome will reach HK$200 million dollars, which had increased 53.8% year-on year. (Sing Tao Daily B5)

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

Hong Kong Stock Market Wrap Sept. 27th, 2011

China National Materials (1893 HK) establishes with its parent a JV Sinoma Finance with a registered capital of RMB500 million. The registered capital will be owned as to 30% by it. (SingTao Daily B7)

EPRO Limited (8086 HK) registered a profit attributable to equity holders of around HK$71,450,000 or HK2.32 cents a share for the year ended 30 June 2011, recommending the payment of a final dividend of HK1.15 cents a share. (SingTao Daily B7)

Freeman Financial (279 HK) announces that it is in the final stages of discussions with another party pertaining to potential strategic investments. It may undergo a capital reorgansation as well. (SingTao Daily B7)

Market sources say Greentown China (3900 HK) has lowered its full-year contracted sales target from RMB55 billion to RMB40 billion, a decrease of 27pc. (SingTao Daily B7)

Lenovo Group (992 HK) announced that they invested about USD150 million to establish a joint venture company to manufacture products with Compal, a company in Taiwan. Such news had made Lenovo shares price soar 11.2% to 4.96 dollars yesterday. (Hong Kong Economic Times A12)

The annual results ended by June of New World (825 HK) shows the net profit had rise 48.1% year-on-year. The dividend will be 6.5cents per share and 1 cent as special dividend. The company shares price had rise 3.7% to 4.5 dollars yesterday. (Hong Kong Economic Times A12)

Renhe Commercial (1387 HK) announced the project in Shenyang had brought around one billion RMB income and there will be more sales in the future. (Hong Kong Economic Journal A5)

The subsidiary company of Sino Truk (Hong Kong) Limited (3808 HK) had 500 million RMB deposits in a bank which involved in a financial note forgery case. The deposits had been withdrawn in accordance with the laws.(Hong Kong Economic Journal A5)

Tenfu (Cayman) Holdings (6868 HK) posted a profit attributable to owners of roughly RMB153.1 million for the 6 months ended 30 June 2011. No interim dividend was declared. (SingTao Daily B7)

Yanzhou (1171 HK) announced they had signed a share sale agreement to purchased 100% equity interests of both Wesfarmers Premier Coal and Wesfarmers Char for approximately 1,863 million RMB yesterday. (Hong Kong Economic Journal A3)

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

Hong Kong Stock Market Wrap Sept. 26th, 2011

Chaoda modern (682 HK) suspension of trade after plunged 27% As the company is in the investigation about announcing false information, the company stock plunged 27% in the morning yesterday and required suspension of trade in the afternoon. (Hong Kong Economic Times A13)

China Financial International Investments (721 HK) booked a profit attributable to equity shareholders of HK$36.93 million for the year ended 30 June 2011; a 33.66pc rise. It did not recommend the payment of a dividend. (SingTao Daily B5)

China Yurun Food (1068 HK) has announced that the expectation of the profit in the 3rd and 4th season would decrease. This caused the company’s shares to drop 31%, closing price at 7.51 HKD yesterday. (Hong Kong Economic Times A13)

On 29 August, Hong Kong SFC directed the Stock Exchange to suspend the shares of Greenheart (94 HK). The company announced yesterday that the concession licence of Greenheart was approved to renew for further 10 years from 29 March 2011 on 2 September 2011. (Hong Kong Economic Journal A6)

Guangzhou R&F properties co., Ltd (2777 HK) announced to decrease 20% of the year sales target from RMB40 billion to RMB32 billion. (Hong Kong Economic Journal A10)

Hongguo International (1028 HK) saw its profit attributable to owners from continuing operations soar to RMB130.6 million for the 6 months ended 30 June 2011. Gross profit margin was 62.3pc, up 7.3 percentage points. The company did not recommend the payment of an interim dividend. (SingTao Daily B4)

Melco international development (200 HK) is going to have a listing hearing for its company, Melco Crown Entertainment Limited, this Thursday on September 29. The capital formation will be between HKD2.34 billion and HKD3.9 billion. (Hong Kong Economic Times A12)

Shanghai Tonva Petrochemical (8251 HK) has signed a relocation compensation agreement with the Nantong Project Conversion Construction Unit, to receive an aggregate of RMB64,080,000 as relocation compensation for relocation of its plants. (SingTao Daily B5)

South Sea Petroleum (76 HK) announces that Moderation has entered into an agreement with other shareholders to repurchase 80.6pc shares from them and to cancel the shares. The company, after the deal, will become its wholly owned subsidiary. (SingTao Daily B5)

TCL Multimedia Technology (1070 HK) says it is expected to turnaround to profit for the 3 months and 9 months ended 30 September 2011. The shares fell 1.74pc to HK$2.26 each yesterday. (SingTao Daily B2)

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

Hong Kong Stock Market Wrap Sept. 23rd, 2011

Beijing Yu Sheng Tang Pharmaceutical (1141 HK) has repurchased all of the outstanding convertible notes in the principal amount of HK$189,100,000 at HK$187,209,000.The notes holders has agreed that the accrued interests of around HK$1,233,000 calculated up to the date of the repurchase be waived. (SingTao Daily B11)

China Communications Construction (1800 HK) announces that its consolidated profit attributable to the equity holders under IFRS will not be less than RMB11,581 million for the year ending 31 December 2011. (Hong Kong Economic Times A7)

China Dongxiang (3818 HK) announces a subscription for limited partnership interests with a total capital commitment of US$100 million in the Yunfeng Funds, which are limited partnerships established for making investments in the Alibaba Group.(Hong Kong Economic Times A7)

China Motor Bus (26 HK) announces that its audited consolidated profit of HK$664 million for the year ended 30 June 2011. It will recommend a payment of a final dividend of HK$0.10 a share and a special dividend of HK$1.30 a share. (SingTao Daily B11)

Kingwell Group (1195 HK) announces an operating loss of RMB147,417,000 for the year ended 30 June 2011. The company did not recommend the payment of a final dividend. (SingTao Daily B11)

Longfor Properties (960 HK) expected the property market would continue stay cool for a period of time. They have no future plans on buying lands or buyback shares. (Hong Kong Economic Journal A9)

Sinotrans (598 HK) has agreed with Keppel Telecommunications & Transportation Ltd. to establish a 50:50 joint venture that develops, constructs and operates a general container and bulk terminal in Sanshan District, Wuhu City, Anhui Province, the PRC. (Sing Tao Daily B13)

Sumpo Food (1089 HK) expected in the coming half year, gross profit margin could rally back to last year’s level. And the company is also planning to increase the production in next month. (Hong Kong Economic Journal A9)

The company announced the wholly owned subsidiary of Sunac China (1918 HK) submitted an irrevocable bid in a listing-for-sale process and required a transfer agreement with the vendor (which is a state-owned enterprise) to acquire further equity interests. (Sing Tao Daily B13)

(1002) v.s. international group limited market express The annual results for the financial year ended 31 July 2011 shows the loss of the equity shareholders of the company was 61.05 million dollars. The loss per share was 6.22cents. (Sing Tao Daily B13)

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

Hong Kong Stock Market Wrap Sept. 22nd, 2011

Aeon Credit Service (900 HK) announced, the annual net profit had grown 14.6% year on year. And they are planning to open two micro credit companies in mainland within a year. (Hong Kong Economic Journal A10)

Sources said Bank of Communications (3328 HK) might issue 26 billion RMB subordinated bonds in October to increase the banks capital. (Hong Kong Economic Journal A6)

China ZhengTong Auto Services (1728 HK) has been informed by a controlling shareholder Joy Capital that it had purchased 2,400,000 shares of the company. Joy Capital, after the deal, is interested in around 61.98pc of the issued share capital of China ZhengTong Auto Services. (SingTao Daily B5)

Chu Kong Petroleum And Natural Gas Steel Pipe (1938 HK) announces that its wholly owned subsidiary Kaidi Heavy Equipment successfully bid for land use right of a piece of land in Lianyungang through an auction, involving RMB192.14 million. (SingTao Daily B5)

Fittec International (2662 HK) reported a loss attributable to owners of HK$68,815,000 for the year ended 30 June 2011. No dividend was proposed. (SingTao Daily B5)

Hong Kong Economic Times (423 HK) had dropped down 35%, 1.4 dollars in 2 seconds and then returned to the 2.2 dollars level in 3 minutes. (Hong Kong Economic Times A14)

Huadian Power International (1071 HK) announces an acquisition of a Sichuan Liangshan Shuiluohe hydropower project at a consideration of RMB1,690 million. The project’s hydropower capacity under construction amounts to 324MW, together with a preliminary project capacity of 1,116MW, making a total capacity of 1,440MW. (SingTao Daily B2)

Samling Global (3938 HK) announced the net profit of the year had grown 64.1%, 20.74 million USD as the requirements of wood had greatly increased in China and India. (Hong Kong Economic Times A16)

Tencent (700 HK) spends 78.7 million dollars to buyback 500 thousand its own shares. (Hong Kong Economic Times A16)

Sources say Travel Expert (Asia) (1235 HK) Enterprises fixes its IPO price at HK$0.63. The company will make its debut on the bourse next Thursday. (SingTao Daily B1)

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

Hong Kong Stock Market Wrap Sept. 21st, 2011

Approval Concerning the Non-public Issue of Shares by Aluminum Corporation of China Limited (2600 HK) approved the company’s non-public issue of not more than 1 billion A shares. (Hong Kong Economic Journal A12)

Bossini International (592 HK) booked a profit attributable to owners of HK$130 million for the year ended 30 June 2011. EPS was HK8.07 cents. A final dividend of HK3.03 cents per ordinary share and a special dividend of HK1.20 cents per ordinary share were recommended. (SingTao Daily B6)

Daqing Dairy (1007 HK) has entered into an agreement to sell to Wuchang Benniu 6,800 heads of Holstein cattle at a price of RMB170.0 million. (SingTao Daily B6)

Great Wall Motor Company (2333 HK) issues an announcement regarding its A share issue. It will issue 304,243,000 A shares at an offer price of RMB13 each. (SingTao Daily B6)

Intime Department Store (1833 HK) suddenly plunged 27% yesterday after the stock market just started one minute but then returned back in the next five minutes. The company explained the reason of the plunge remains unknown but there is no problem in the company finance. (Hong Kong Economic Journal A4)

See Corporation (491 HK) reported a loss attributable to owners of around HK$52.4 million for the year ended 30 June 2011. The loss per share was HK$0.05. (SingTao Daily B6)

Simsen International (993 HK) announces that its subsidiary Simsen Capital Finance, a licensed money lender, will provide a loan of HK$100,000,000 to Global Giant Enterprises. Interest will accrue at the rate of 15pc per annum. (SingTao Daily B6)

TCL Multimedia (1070 HK) announced the buyback shares from the market on September 20 and September 21 are 144,6000 and 3,000,000 shares, which is about 0.4091% of the issued shares. (Hong Kong Economic Journal A12)

Wing Hang Bank (302 HK) had increased Prime Rate-Based Mortgage profit rate from 2.25 p.a to 2.75 p.a. and cash return 0.8% to 1%. (Hong Kong Economic Times A15)

Xiao Nan Guo Restaurants (1147 HK) announced to withdraw from the market yesterday because of the weakened stock market, not the company itself. There is no timetable when Xiao Nan Guo Restaurants will start again. (Hong Kong Economic Times A14)

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

Hong Kong Stock Market Wrap Sept. 20th, 2011

Standard & Poor's lowered its long-term corporate credit rating on China Lumena New Materials (67 HK) to 'B+' from 'BB-' yesterday. The outlook is stable. The shares ended at HK$1.53 each. (SingTao Daily B4)

CITIC Securities (6030 HK) will open its retail book tomorrow to raise up to 15.1 billion. It has introduced 6 cornerstone investors including Waddel & Reed. (SingTao Daily B3)

CK life Sciences (775 HK) announced the purchase of Qualco West, a vineyard in Australia. (Hong Kong Economic Journal A7)

(938) Man Sang international limited Mr. Zhang Huaqiao becomes the executive director and chief executive officer of the company and intends to develop the Micro Credit Business in Mainland. The company also invested 50 million shares, about 9% of the share capital of company to Mr. Zhang. (Hong Kong Economic Journal A10)

Nine Dragons paper (2689 HK) ANNUAL PROFIT DROPS 9% The net profit of the year had dropped 9.2%, which is about 19.68 million RMB, due to the increase of the prime cost. (Hong Kong Economic Journal A16)

Pearl Oriental Innovation (632 HK) announces a proposal to change its English and Chinese name to “Pearl Oriental Oil Limited” and “東方明珠石油有限公司” to better reflect its new focus of development of its oil business. (SingTao Daily B6)

As 99.99% of votes were cast in favour of the resolution to remove Lam Ping Cheung Andrew as executive director, Seamless Green China (8150 HK) announced yesterday that Lam was removed from the position with effect from 20 Sep. (SingTao Daily B5)

Skyworth Digital Holdings (751 HK) announced as the new products are the major requirements to the people; the rural subsidy program for home appliances will be over. (Hong Kong Economic Journal A16)

Trony Solar Holdings (2468 HK) said the price of the solar products dropped in the second season. The annual result of the year ended 30 June 2011shows the net profit raised 8.9%, 5.44 million dollars. (Hong Kong Economic Journal A10)

Market sources say Xiao Nan Guo (1147 HK) closed its retail book yesterday and the tranche is fully subscribed. The company will list on the bourse next Wednesday. (SingTao Daily B3)

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

Hong Kong Stock Market Wrap Sept. 19th, 2011

China Coal Energy Company (1898 HK) announced they are requested that all the underground mines to suspend production for rectification. The trading in H shares was suspended in 10:30a.m while the trading in A shares suspended after the morning market ended yesterday. The shares dropped 17% when the market started yesterday, at the price of 8.26 dollars per share before suspended. (Sing Tao Daily B6)

IPO: China Hanking Holdings (3788 HK) starts its IPO today to raise up to 1.34 billion. The company will list on the bourse on 30 September. (Hong Kong Economic Times A14)

Although the company had the right to increase the shares in Inner Mongol (269 HK) super highway from 51% to 66%, the company has no decision on increase the shares as it requires 800 million RMB. (Sing Tao Daily B6)

The China Unicom (762 HK) announced that a wholly owned subsidiary of the company had finished the issue of the third and forth tranches of super and short-term commercial paper. The interests will start from 16 September 2011, with a period of 30 days and the interest rate of 5.35%. (Sing Tao Daily B2)

China ZhengTong Auto Services (1728 HK) has been informed by a controlling shareholder Joy Capital Holdings that it has purchased 861,000 shares of the company. The shareholding of the latter in the company rose to approximately 61.87% after the deal. (Hong Kong Economic Journal B1)

CIMC Enric Holdings (3899 HK) announces a purchase of the entire equity interest in Nanjing Yangzi Petrochemical Design & Engineering, chiefly engaged in consultancy, planning, design, service, procurement and contracting for petrochemical projects, at a consideration of RMB165,000,000. (Hong Kong Economic Journal A7)

Freeman Financial (279 HK) announced three of its insurance brokerage companies had sold to Dr. Yang Fan Shing, Andrew, the Chairman and an executive director of Freeman Financial. Dr. Yang had also resigned his position. (Sing Tao Daily B6)

PRADA (1913 HK) registered a net income of Euro 179.5 million for the 6 months ended 31 July 2011, climbing 74.2%. EPS amounted to Euro 0.071. (Hong Kong Economic Journal B1)

Trony Solar Holdings (2468 HK) reported a net profit of RMB544.0 million for the year ended June 30, 2011, up 8.9% yoy. EPS was RMB37 cents. A final dividend of HK5 cents per share was proposed. (Hong Kong Economic Journal A7)

Yips Chemical Holdings (408 HK) is going to spend 300 million RMB to build up new production facilities in Guangdong. The new facilities mainly produce Brtylacrylate, a new solvent market in Mainland. (Sing Tao Daily B6)

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

Hong Kong Stock Market Wrap Sept. 16th, 2011

China Shenhua Energy Company (1088 HK) booked commercial coal production of 23.7m tonnes in August, up 20.3% yoy. Coal sales rose 21.9% yoy to 30.6m tonnes. (Hong Kong Economic Times A14)

Shenzhen Investment (604 HK) has gained two four-year syndicate loans of US$209,000,000 and HK$1,026,000,000 respectively. (Hong Kong Economic Times A14)

Sino-Ocean Land Holdings (3377 HK) announces that its indirect wholly-owned subsidiary Beijing Wanyang, China Life Investment, China Life Asset Management and Beijing Vantone has entered into JV articles of association in respect of an establishment of a JV for the development of a project at Central Business District, East Third Ring Road, Chaoyang District, Beijing. (Hong Kong Economic Journal B1)

Solartech International Holdings (1166 HK) expects its results for the year ended 30 June 2011 will return to the black, mainly attributable to a considerable fair value gain of the derivative component of the convertible bond. (SingTao Daily B12)

Sunac China Holdings’ (1918 HK) 49%-owned associated company Poly Sunac successfully acquired the land use right of a land situated at the intersection of Jiefangnan Road and Xiangjiang Road in He’xi district of Tianjin at a consideration of RMB2,990 million. (Hong Kong Economic Times A14)

Apollo Solar Energy (566 HK) had made a contract with Hanergy. If both companies agree with the contract, Hangergy could hold up to 60% of Apollo Solar Energy shares, costing 46.41billion dollars. (Hong Kong Economic Journal A4)
CRS (1766 HK) A SHARE ISSUE WILL DECREASE THE RAISE DOWN TO RMB 9 BILLIONS The A share issue will now decrease from 11 billion RMB to 9 billion RMB. The new issue will also drop 25% of each share, costing the price down to $4.46 for each share. (Hong Kong Economic Journal A13)
Fosun (656 HK) said they are comfortable with the development of Follif Follie in mainland. And they will also increase their shares of Follif Follie, but they would not hold more than 15% of the shares yet. (Hong Kong Economic Journal A13)

The director of Glencore (805 HK), Ivan Glasenbreg will use USD54 million (about 420million HK dollars) to increase his share up to15.7%. (Hong Kong Economic Journal A13)

Each 200 shares of Sany Group (6031 HK) will cost $3915 dollars. Sany might provide 1.54 billion H share issues, raising up to 29.845 billion dollars. (Hong Kong Economic Journal A13)

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

Hong Kong Stock Market Wrap Sept. 15th, 2011

China Aerospace International (31 HK) has entered into a capital contribution agreement with its controlling shareholder China Aerospace Science & Technology and several subsidiaries in relation to the formation of a JV company, with the total registered capital of RMB63,800,000. (SingTao Daily B7)

China Modern Dairy (1117 HK) is planning to register a new selling company in Hong Kong to sell their own milk. The first year accomplishment shows the year net profit reached 220million RMB. The first goal is to maintain high quality and quaintly milk with 30 pastures by the year 2015. (Hong Kong Economic Times A10)

Citi Securities (6030 HK) with its new stock number will now be available to the public. Just before today sales, Citit Securities plan to established 10.94 billion H share issues, before the sales today, there were already 5 companies offer 10.92 billion shares in total. (Hong Kong Economic Times A10)

COSCO Pacific (1199 HK) announces container throughput of 4.5156m TEUs in August, up 9.7pc yoy. Throughput rose 16.9pc yoy to 33.1867m TEUs for the first 8 months. (SingTao Daily B7)

Esprit Holdings (330 HK) reported a net profit of HK$79 million for the year ended 30 June 2011, diving 98pc yoy. The company did not recommend the payment of a final dividend (SingTao Daily B2)

Fosun and The Prudential Insurance Company of America (656 HK) will develop a life insurance company in Mainland China. The two companies will both start with RMB 500 million as the registered capital. Both sides will contribute 50 percent of it. The new company will establish in Shanghai and may start running in the 4th season of 2012. (Hong Kong Economic Journal A6)

Great wall motor company (2333 HK) announced to established 304million A share issues which can raise up to 4.26 billion RMB, more than the previous expectation 3.17 billion RMB. (Hong Kong Economic Times A10)

Sun Hung Kai Properties (16 HK) booked an underlying profit attributable to shareholders for the year ended 30 June 2011 of HK$21,479 million, an increase of 55pc. A final dividend of HK$2.40 per share was recommended. (SingTao Daily B3)

Travel Expert (Asia) Enterprises (1235 HK) issues 100m shares at a price between HK$0.56 and 0.69 apiece. The company is to list on 29 September. (SingTao Daily B3)

Brilliant Star Capital, the wholly-owned subsidiary of Value Partner (806 HK), will form a joint venture company ih PRC party in Chegdu City to operate and develop small loan business. The new company will be owned by Brilliant Star Capital 90% and 10% by the PRC Party. (Hong Kong Economic Journal A8)

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

Hong Kong Stock Market Wrap Sept. 14th, 2011

ABC Communications (30 HK) has entered into a MOU, planning to acquire the entire issued share capital of a target company at a total consideration of not exceeding HK$350,000,000, which is expected to be satisfied by cash and the issue of CBs and promissory notes. (SingTao Daily B6)

The director of BYD Company (1211 HK) admitted it is a bad decision in the 2009. This is the first time he admitted the fault and he claimed the reduction of the staff this time is to rebuilt BYD Company. (Hong Kong Economic Journal A6)

China Life Insurance (2628 HK) saw its accumulated premium income for the period from 1 January 2011 to 31 August 2011 increase by 4.1pc yoy to about RMB237.0 billion. (SingTao Daily B6)

China Modern Dairy (1117 HK) booked a profit attributable to equity shareholders of RMB224.6 million for the year ended 30 June 2011, soaring around 322.7pc yoy. EPS was RMB5.20 cents. (SingTao Daily B6)

IPO: Citic Securities had at least 7 major investors will invest in this new stock. It is believed that the total of the investors will buy 40% of the shares. (Hong Kong Economic Journal A8)

The executive direct of the Evergrande (3333 HK) said although this year is not as good as last year, they can still reach the year goal 70 billion RMB in October. There will be ten new projects promoted to the market in October. (Hong Kong Economic Journal A12)

Good Fellow Resources (109 HK) expects a profit for the year ended 30 June 2011, mainly attributable to revaluation gain recognised pertaining to an investment property which had been developed by its joint venture. (SingTao Daily B6)

Although Societe Generale rating had drop from Aa2 to Aa3, it is still far from losing the market as Hong Kong Exchanges and Clearing Limited (388 HK) except rating A3 or above. (Hong Kong Economic Journal A12)

Huadian Power International (1071 HK) has entered into an agreement to purchase 85% equity interest in Haoyuan Company from two independent third parties at a total consideration of approximately RMB715 million (SingTao Daily B6)

NWS Holdings (659 HK) announced to increase the shares of the Hangzhou raocheng super highway from 25% to 58.66% and might increase the share to 90.16% in the following three months. The executive direct of NWS Holdings said they have no decision whether they will increase the share any further yet, they do not have any raising finance problem and the repay could be very impressive. (Hong Kong Economic Journal A6)

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

Hong Kong Stock Market Wrap Sept. 13th, 2011

China Coal Energy (1898 HK) recorded commercial coal production volume of 8.84 million tonnes in August, up 16.9pc yoy and up 2.9pc mom. Coal sales rose 18.3pc to 11.63 million tonnes. (Hong Kong Economic Times A8)

China.com (8006 HK) has subscribed US$4 million private equity fund. The fund established chiefly to make direct and indirect investments in state-owned enterprises and privately owned enterprises in the PRC. (Hong Kong Economic Journal B2)

Longfor Properties (960 HK) announces that its contracted sales amounted to RMB3.21 billion in August, up 25.9pc mom. Its contracted sales reached RMB24.02 billion for the first 8 months. (Hong Kong Economic Times A8)

HKEx’s data shows that the chairman of Sino Land (83 HK) bought a total of 0.204m shares of the company on 7-8 September at HK$12.35 each on average. (SingTao Daily B4)

Tenfu (Cayman) (6868 HK) opens its retail book today. Offer price is between HK$4.8 and HK$6.8. The maximum offer price a board lot amounts to approximately HK$6868.
(Hong Kong Economic Times A8)

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

Hong Kong Stock Market Wrap Sept. 12th, 2011

Easyknit International Holdings (1218 HK) will buy 617.75million share of Easyknit Enterprises Holdings Limited(616) at a price of HK$0.30 per share. If the trade is complete, the share right will increase to 42.92%. Both companies share will open tomorrow. (Hong Kong Economic Journal A5)

Goldin Financial (530 HK) announce the final result for the year ended June 30,2011 loss 313 million dollars. The net profit from June 30,2010, 18 months, is 127 million dollars, losing 9.41 cents per share and with out dividend. (Sing Tao Daily B9)

HSBC (5 HK) has launched the sale of its non-life insurance business, Reuters reported. HSBC had sent out an information memorandum to potential buyers, with first round bids due by mid-October. The global division is worth about US$1 billion. (Hong Kong Economic Times A6)

(1048) Novo Group ltd. share holders profit reduce 90% In the end of July,2011, share holders profit drop to 146 thousand US dollars, that is 90% decrease. No mid-term dividend (Sing Tao Daily B9)

Tencent Holdings Ltd. (700 HK) buys 5.01 percent of stakes in Rojam Entertainment with a total consideration of HK$130 million. (Hong Kong Economic Times A6)

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

Hong Kong Stock Market Wrap Sept. 9th, 2011

China Overseas Land and Investment (688 HK) announced its contract sales for August hit HK$4.45 billion, down 11.2 percent year-on-year. And the sales area was 332 000 sq m, down 12.9 percent year-on-year. (Hong Kong Economic Times A9)

China Resources Land Ltd. (1109 HK) recorded its contract sales of RMB4 billion, up 57.6 percent. (Hong Kong Economic Times A9)

The new contract sales for China State Construction International (3311 HK) for the first eight months amounted to HK$25.73 billion, up 49 percent year-on-year. (Hong Kong Economic Times A9)

Sune Vision (8008 HK) has submitted a formal application to the Hong Kong Stock Exchange for the transfer of listing from the growth enterprise market to the main board. (Hong Kong Economic Journal P4)

Yuzhou Properties (1628 HK) announced the contract sales for August reached RMB689 million, up 1.42x. The average selling price was down 35.7 percent to RMB6328 sq m. (SingTao Daily B4)

China Netcom Technology (8071 HK) announces that its subsidiary E-silkroad.net Corporation will dispose to chairman Leung Ngai Man the entire issued share capital of and the sale debts of Business Essence Technology at HK$7,965,241. (SingTao Daily B9)

Enviro Energy International (1102 HK) announces that it appoints Wong Sum Lok Sam to be Senior Vice President of CCST Singapore, its wholly owned subsidiary, with effect from 10 September. (Hong Kong Economic Journal B1)

Hao Tian Resources Group (474 HK) announces a dispose of the entire equity interest of Wuhai City Menggang for RMB1,503,000,000. The purchaser shall pay the group a deposit in the sum of RMB300,000,000. (SingTao Daily B9)

Hongguo International Holdings (1028 HK) opens its retail book today with an offer price between HK$2.3 and 3.24. The maximum offer price per board lot amounts to HK$3272.66. (Hong Kong Economic Journal A10)

Rojam Entertainment Holdings (8075 HK) announces that Wong Kam Choi resigns as its independent non-executive director and ceases to be a member of both the audit committee and the remuneration committee. (Hong Kong Economic Journal B1)

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

Hong Kong Stock Market Wrap Sept. 8th, 2011

CHALCO Hong Kong (2600 HK), a subsidiary of Aluminum Corporation of China, plans to issue up to US$1.2 billion, 10-year bonds. (SingTao Daily B6)

Beijing Enterprises Water (371 HK) has entered into a term loan facility agreement with a bank for a term loan facility in the amount of HK$250,000,000, which is for a term of 48 months starting from the date of the agreement. (Hong Kong Economic Journal 9)

China Everbright International (257 HK) has signed a termination agreement and return agreement with the Jiangyin State-owned Assets Commission. The Sewage Piping Network Transfer Agreement has been terminated by mutual consent and the commission has agreed to refund a total sum of RMB561,329,396.78 to the project company. (Hong Kong Economic Journal 9)

Shares in Yurun Food Group (1068 HK) fell sharply 16 percent yesterday, starting a small scale of worrying sell-offs, after a Chinese media report said its pork products were contaminated with traces of clenbuterol, a banned lean-meat additive. Yurun Food clarified that it immidiately disposed of the problematic raw pork but denied banned traces left in its products. (SingTao Daily B4)

Chongqing Machinery & Electric (2722 HK) announces that it has approved its subsidiary Chongqing General Industry to buy 100pc equity interest in Da’an Chenfei at a total consideration of RMB75,000,000. (Hong Kong Economic Journal 26)

After the HK$515 million sale of Kosmopolito Hotels, Far East Consortium Int’l (35 HK) started focusing on property development in Hong Kong, Mainland China and Australia. The company plans selling its hotels with less than 200 rooms and has prepared the disposal of up to two more hotels. (SingTao Daily B6)
IPO: Hongguo International Holdings Ltd. kicks off the roadshow today with an entry fee of HK$3272.7. The company will launch its initial public offering next Monday. (SingTao Daily B5)

New Focus Auto Tech (360 HK) announces that it is negotiating with an entity in connection with a possible acquisition of interests in a company mainly engaged in the wholesale of auto accessories in China.
(Hong Kong Economic Journal 26)

Powerlong Real Estate (1238 HK) announces an issue of HK$1,000 million aggregate principal amount of senior notes due 2014, bearing interest at a rate of 13.8pc per annum, to China Life Trustees. The subscription price is 99.45pc of the principal amount of the notes. (Hong Kong Economic Times A12)

TCL Multimedia Technology (1070 HK) recorded a total sales of TVs increased by 28.8 percent to 1,347,000 sets in August and an increase of 10.4 percent to 8,796,000 sets for the first eight months. (SingTao Daily B6)

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

Hong Kong Stock Market Wrap Sept. 7th, 2011

AMS Public Transport (77 HK) announces that a wholly owned subsidiary will acquire the entire issued share capital of Central Maxicab, currently running the Scheduled PLB Routes, at a consideration of HK$215,000,000. (Hong Kong Economic Journal 26)

The chairman Deng Yao and management at Belle International Holdings Ltd. (1880 HK) sold 285 million existing shares in the company for HK$4.35 billion-HK$4.475 billion yesterday. The shares were sold at HK$15.28 to HK$15.7 apiece. (SingTao Daily B3)

Glorious Property Holdings (845 HK) posted August sales of RMB1.11b, surging 64.69pc. Sales from January to August hit RMB9.126b, soaring 118.13pc yoy. (Hong Kong Economic Journal 8)

The passenger vehicle subsidiary of Guangzhou Automobile Group (2238 HK) said that, for the period between January and July this year, the passenger vehicle brands recorded a sale of around 10,000 units. The company targets a whole-year sale of 20,000 units. But due to unstable oil prices in Mainland China, the gross profit margin of relevant businesses is expected to go down by 5 percent this year. (SingTao Daily B4)

Lenovo (992 HK) plans to introduce tablet PCs into the Indian market over the next three months. According to Wall Street Journal, the company is in the process of obtaining permission from the local government to launch the devices, said Amar Babu R.K., managing director of Lenovo India Pvt. Ltd. Apple iPad and Samsung Galaxy Tab have been in the Indian market for selling.(SingTao Daily B3)

Pou Sheng International’s (3813 HK) profit attributable to owners rose 219pc to US$ 45.956 million for the nine months ended June 30. (Hong Kong Economic Journal 26)

Shui On Construction and Materials Ltd. (983 HK) announced to restructure the company by focusing on property development supplemented with construction businesses. The company also considers a timely sale of cement business to take back capital from the market. (SingTao Daily B3)

Sunac China (1918 HK) announces that its wholly-owned subsidiary Sunac Zhidi will establish a JV company engaged in property development in China with Poly Tianjin. The company will be set up with a registered capital of RMB2 billion, which will be contributed by Sunac Zhidi as to RMB980,000,000. (Hong Kong Economic Journal 8)

V.S. International Group (1002 HK) expects a jump in its loss for the year ended 31 July 2011 as compared to that for the same period last year, mainly attributable to the substantial increase in the cost of sales and administrative expenses. (Hong Kong Economic Journal 26)

Yue Yuen Industrial (Holdings) Ltd. (551 HK) announced that for the nine months ended June 30, 2011, its net profit went up 1.23 percent to US$350 million (approximately HK$2.73 billion). (SingTao Daily B4)

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

Hong Kong Stock Market Wrap Sept. 6th, 2011

Agile Property (3383 HK) recorded contracted sales of RMB2.3b in August, up 9.5pc mom. Contracted sales for the first 8 months amounted to RMB20.1b, up 43pc yoy. (Hong Kong Economic Times A12)

China Longyuan Power Group (916 HK) announces that, according to preliminary statistics, the power generation of the group for August on consolidated basis was 1,744,128MWh, up 1.91pc yoy. (Hong Kong Economic Journal 25)

Convoy Financial Services Holdings Limited (1019 HK) expects the acquisition of a financial services company in Shenzhen to be completed within three weeks. This financial services company has a national insurance agent license and now plans to set up an insurance-support and resources center in Nanjing, China. (SingTao Daily B4)


Country Garden (2007 HK) booked contracted sales of RMB29.8b for the first 8 months, surging 62pc yoy, meeting 69.3pc of its full-yr target of RMB43b. (Hong Kong Economic Times A12)

IPO: Monogolia's mining company Erdenes Tavan Tolgoi LLC plans its initial public offering in next year to raise over US$3 billion (approximately HK$23.4 billion). Khurelbaatar Chimed, Minister of Mongolia, said the company has not decided where to go public. Earlier reports said the company planned the public listing in Hong Kong, London and Ulaanbaatar. (SingTao Daily B5)

Man Yue Technology Holdings Ltd. (894 HK) said, for the first half of 2011, as the cost of materials has risen over 20 percent, the average selling price of products has saw double-digit growth to maintain its gross profit margin. Due to good contracts and orders in July and August, the company may continue a 20.6 percent increase in its second half-year income.
(SingTao Daily B4)

Foreign sources reported that China National Petroleum Corp, (857 HK) the parent of PetroChina, is expected to raise an aggregate amount of RMB55 billion through the issuance of RMB20 billion corporate bonds, RMB15 billion 1-year short-term financing bills and RMB20 billion mid-term notes through public tender. PetroChina has not given any reply regarding this matter. (SingTao Daily B5)

SBI Holdings, Inc. (6488 HK) considers the spin-off and a possible listing of its SBI Mortage, a subsidiary in its mortagage loan business, on the KOSPI market of the Korean Exchange. SBI Mortgage has submitted a listing application to the Korean Exchange on August 30, 2011. (SingTao Daily B6)

Simsen International (993 HK) announces that its indirectly wholly-owned subsidiary Simsen Capital Finance has agreed to provide a term loan of HK$100,000,000 to Hsieh Chih Chen, a citizen of Taiwan. Interest will accrue at the rate of 24pc per annum. (Hong Kong Economic Journal 10)

Xinjiang Goldwind Science & Technology (2208 HK) announces that it received an approval from the CSRC yesterday for an issue of public corporate bonds with an aggregate principal amount of not more than RMB5.0 billion. The first tranche with an aggregate principal amount of not more than RMB4.0 billion will be issued. (Hong Kong Economic Journal 25)

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

Hong Kong Stock Market Wrap Sept. 5th, 2011

Anhui Conch Cement (914 HK) shares dropped 8.2pc to HK$29.2 each yesterday. West China Cement shares fell 9.8pc to HK$1.85 each. (Hong Kong Economic Times A11)

Bright Smart Securities (1428 HK) and Commodities Group announced for the six months ended September 30, 2011, the group is expected to record a significant growth in its profit. This increase is mainly attributable to the improvement in the turnover of the group as a result of the expanded branch network which helped broaden customers’ base. (SingTao Daily B5)

China Merchants Bank (3968 HK) announces that it has received an approval from the SASAC. The commission agreed to its rights issue plan and the cash subscription by China Merchants Group, China Communications Construction Group and their subsidiaries concerned and China Ocean Shipping (Group) and China Shipping (Group) and their subsidiaries concerned, of the rights shares in full in respect of their respective corresponding entitlements upon implementation of the rights issue. (Hong Kong Economic Journal 21)

China Outdoor Media (254 HK) says it is expected that its consolidated results for the year may record a significant drop as compared to those for last year. (Hong Kong Economic Journal 21)

CNOOC Limited (883 HK) shares ended at HK$13.84 each yesterday, down 8.9pc. BOC International lowers its rating on the company to hold. (Hong Kong Economic Times A3)

HKC (Holdings) (190 HK) announces a disposal of 76.6% stake in the Palace Hotel (王府飯店), Peninsula Beijing Hotel (北京王府半島酒店), No.8 Jin Yu Hutong, Dongcheng District, Beijing, at a consideration of HK$578 million. (Hong Kong Economic Journal 21)

PetroChina (857 HK) has beaten its rivals from Australia, Britain, America and Pakistan to win a bid for oil exploration in a field located in the northern Afghanistan. (SingTao Daily B4)

Regent Manner International Holdings Ltd. (1997 HK) announced that its unaudited net consolidated turnover in August was approximately US$139.6 million, representing an increase of approximately 36 percent as compared with that of the same period last year. (SingTao Daily B6)

Tai Shing International (8103 HK) plans to acquire 100 percent equity interest in Joint Bridge at a consideration of HK$40 million, which shall be satisfied by the allotment and issue of the company. (SingTao Daily B6)

Yuexiu Property Company (123 HK) acquired the Science City Land Parcel located in Guangzhou City, Guangdong Province. The gross floor area was approximately 224,000 sq.m. The acquisition price was RMB1.41 billion. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap Sept. 2nd, 2011

BOC Hong Kong (2388 HK) has set up a medium term note programme under which it may offer and issue notes in series of principal amount of up to US$15,000,000,000 to professional and institutional investors. The notes may be denominated in any currency. (SingTao Daily B4)

China Agri-Products Exchange (149 HK) announces that it has received 118 valid acceptances and applications in respect of 939,372,910 rights shares in aggregate, roughly 39.44pc of the total number of rights shares available under the rights issue. (Hong Kong Economic Journal 21)

C.P. Lotus (121 HK) sells its supermarket business at B2, 245 Madang Lu, Huangpu District, Shanghai to CPG, its ultimate controlling shareholder, at a consideration not more than RMB22.0 million. (Hong Kong Economic Journal 21)

Esprit Holdings (330 HK) shares plunged 10.1pc on its first profit warning announcement since listing yesterday. Goldman Sachs slashes its price target for the stock by 60pc to HK$20. (Hong Kong Economic Times A9)

Great Wall Motor (2333 HK) will proceed with its proposed A share issue, which will comprise an allotment and issue of not more than 304,243,000 A shares. A road show and preliminary price consultation among qualified institutions will be conducted in China from 5-14 Sep to determine the offer price range. (Hong Kong Economic Times A9)

Mr. Chun Chi Wai, Chairman (773 HK) and CEO of China Metal Recycling Ltd., noted that the company will expand businesses in middle and western areas in China by establishing its first over 500,000-tonnes-capacity production base in Sichuan Province or Chong Qing this year and the second in the next to meet the demand of inland steel plants. (Hong Kong Economic Times A10)

China’s maritime (883 HK) regulator announced through its website last Friday the shutdown of the Penglai 19-3 field, which is jointly owned by ConocoPhillips and CNOOC. The CNOOC has started reducing about 40,000 barrels per day from around 22,000 barrels per day in its net production from 13 July, 2011. (Hong Kong Economic Times A10)

Intime Department Store Group (1833 HK) saw its first-half net profit up 60 percent and its same store sales up 28.1 percent. The company expects the same store sales in the second half will keep a stable growth to meet its whole-year target of 20 percent in same store sales. (Hong Kong Economic Journal P5)

Tibet 5100 Water Resources Holdings Ltd. (1115 HK) expects the second-half of 2011 a peak season for its water resources sales. With new consumers joining in, its whole-year profit is expected to meet the target in 2011. (Sing Tao Daily B14)

Mainland China (819 HK) plans to put forward the application of low-speed and pure electric vehicles in pilot cities in the second half of this year. Mr. Zhang Tianren, Chairman of Tianneng Power International Ltd., noted the company expects its capacity of lead-acid electric vehicles batteries to expand 4 times to record the worth of over RMB500 million before the first quarter in next year. The company has been tapping potential business opportunities in the market. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap Sept. 1st, 2011

Foreign media citing China Minsheng Banking (1988 HK) says the CBRC has in principal approved its plan of public offering of A share convertible bonds and issuance of new H shares. (SingTao Daily B6)

Esprit Holdings Ltd. (330 HK) announced that for the six months ended June 30, 2011, its net profit may suffer a great loss due to the implementation of a strategic plan including the restructuring of its store operations. The revenue for the period is expected to remain similar to the revenue for the same period last year. (Hong Kong Economic Journal P7)

In his interview with Reuters, Mr. Zhang Dazhong, Chairman of Gome Electrical Appliances Holdings Ltd. (493 HK), noted that the U.S. private equity firm Bain Capital has no plan to sell its 9.9 percent stake in Gome. Gome also aimed to add about 260 retail outlets per year. (Hong Kong Economic Journal P7)

HSBC Holdings (5 HK) announces that the Hongkong and Shanghai Banking Corporation has sold its 8.1pc stake in Tradelink Electronic Commerce to TAL Apparel for roughly US$10m. The sale represents the disposal of a non-core investment, HSBC says. (SingTao Daily B6)

MGM China (2282 HK) announces that it has granted to eligible employees 830,000 share options to subscribe for shares of HK$1 each in its capital under its share option scheme adopted on 11 May, subject to their acceptance. (SingTao Daily B6)

Sino Land (83 HK) reported an underlying net profit from operations of HK$4,401.4 million, up 25.5%, with a net profit attributable to shareholders reaching a record high of HK$10,544.3 million. A final dividend of 35 cents a share was recommended. It proposes a bonus issue of shares on the basis of 1 new ordinary share for every 10 ordinary shares held. (SingTao Daily B3)

Sinotrans Ltd. (598 HK) will cooperate with Yang Ming Marine Transport Corporation for further development in domestic market in following areas: traditional businesses including shipping agency, freight forwarding and yard business; logistics solution in China and inter-Asia, Yangtze River and Pearl River liner services. (Hong Kong Economic Times A11)

S&P revised the rating outlook of the Texhong Textile Group (2678 HK) from stable to negative and lowered the credit scale ratings on the Group from ‘‘cnBBB-’’ to ‘‘cnBB+’’. In the report, S&P said that the profitability of Texhong Textile will deteriorate in the second half of 2011. Texhong Textile announced in its report that the product selling prices face pressure after the cotton price keeps going down since 2Q. Its sales volume and product selling prices have rebounded from the trough and the inventory level has also dropped. (Hong Kong Economic Times A11)

Xiangyu Dredging (871 HK) plans to acquire a cutter suction dredger at the purchase price of RMB145 million from Jiangsu Tongyang Shipping Co. Ltd. The company will apply the proceeds of the Global Offering to this acquisition. (Hong Kong Economic Times A11)

Viva China Holdings (8032 HK) announces that, due to the recent changes in market conditions, the parties to the MOU have agreed not to proceed with the proposed acquisition of the shares in Li Ning Company. (SingTao Daily B3)

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

Hong Kong Stock Market Wrap Aug. 30th, 2011

China Agri-Industries Holdings Ltd. (606 HK) announced for the six months ended June 30, 2011, its profit attributable to its owners increased by 21 percent to HK$1.6 billion. There was a 48 percent of increase in revenue to HK$33.6 billion. An interim dividend of HK7.9 cents per share was announced. (Hong Kong Economic Times A8)

For the first half of 2011, China Mengniu Dairy Company (2319 HK) recorded RMB790 million of net profit, up 27.6 percent year-on-year. The company announced no payment of interim dividend. Due to the rising cost in raw materials, its overall gross profit margin was 26 percent, down 0.2 percent. The company will raise product selling price if future gross profit margin lacks good performance. (Hong Kong Economic Times A8)

China Merchants Bank (3968 HK) accomplished a net profit attributable to shareholders of RMB18.6 billion, surging 40.88%. No interim dividend was declared. (SingTao Daily B3)

China Pharmaceutical Group (1093 HK) recorded a profit attributable to shareholders of HK$264 million, down 38.1%. EPS amounted to 17 HK cents. (SingTao Daily B6)

Evergrande Real Estate Group (3333 HK) saw its 1H net profit attributable to shareholders for the six months ended 30 June 2011 skyrocket 144.6% to RMB5.70 billion, with the GFA of contracted sales of 6.117 million square meters. It resolved not to declare any dividend. (SingTao Daily B4)

Giordano International (709 HK) saw its half-year profit attributable to shareholders jump 71.3% to HK$346 million, with EPS of 23.0 HK cents. The firm declared interim dividend of 15.0 HK cents a share. (SingTao Daily B6)

Due to the increase in production costs resulted from rising raw material prices, the net profit of Hengan International Group (1044 HK) dropped 1.7 percent year-on-year to HK$1,181 million for the first half year of 2011. An interim dividend of HK60 cents per share was announced.
(Hong Kong Economic Journal P6)

For the first half of 2011, Milan Station (1150 HK) recorded a net profit of HK$34.156 million, up 35 percent. After the company raised HK$203 million through public listing three months ago, it declared the payment of an interim dividend of HK1.52 cents per share and a special dividend of HK1.27 cents per share, totaling 46 percent of its basic earnings per share. (Hong Kong Economic Times A9)

Sun Art Retail Group (6808 HK) announced for the first half of 2011, its profit attributable to its shareholders amounted to RMB784 million, meeting the 55 percent of not less than RMB1,414 million of net profit targeted in the company’s forecast when it started public listing. Its earnings per share were RMB0.13. No interim dividend was announced. (Hong Kong Economic Times A9)

Weichai Power (2338 HK) booked a revenue of around RMB36,627 million in the 1H, up about 10.2% yoy. Net profit attributable to the shareholders of the parent amounted to roughly RMB3,502 million, up 8.3%. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap Aug. 29th, 2011

BBMG Corporation (2009 HK) announced that for the first six months in 2011, its profit attributable to its shareholders amounted to RMB1, 635.8 million, up around 54.1 percent compared with the same period in last year. The company announced no payment of interim dividend. (Hong Kong Economic Times A12)

Boshiwa International’s (1698 HK) profit attributable to owners rose 11.9% to RMB130 million. Basic EPS dropped by 19.2% to RMB6.26cents. (SingTao Daily B5)

China Citic Bank (998 HK) announced that for the first half of 2011, its net profit increased by 40.6 percent to RMB15.02 billion, meeting market expectations. The bank planned to issue RMB denominated bonds in Hong Kong for an aggregate amount of no more than RMB30 billion. The proceeds will be used for granting loans, working capital of the bank and general corporate purposes. (Hong Kong Economic Times A10)

The first half business result of Sinopec Group (386 HK) exceeded expectations. The company seeks to expand upstream operations in both China and abroad and to further explore unconventional energy in an effort to build a world-class energy and chemical company. The company also plans to issue A share convertible corporate bonds for an aggregate amount of no more than HK$50 billion. (Hong Kong Economic Times A10)

The share price in China Shenhua Energy (1088 HK) went up 3.7 percent to record HK$35.1 yesterday after its interim result announcement. The company seeks to outperform its whole-year target and plans more acquisitions and mergers in the second half year. The bid made by its Parent for the coal project in Inner Mongolia has been under discussion. (Hong Kong Economic Journal P7)

GOME Electrical Appliances (493 HK) saw its interim net profit surge 30.15% to approximately RMB1,252 million. It declared an interim dividend of RMB2.2 fen an ordinary share. (SingTao Daily B6)

Great Wall Motor Company (2333 HK) announces that it has received approval for its proposed A share issue to allot and issue not more than 304,243,000 A shares. (SingTao Daily B6)

For the first half of 2011, Guangdong Investment Ltd. (270 HK) announced that its net profit went up 43.7 percent year-on-year to HK$1,617 million. The company announced an interim dividend of HK7 cents per share, up 40 percent. (Hong Kong Economic Times A12)

International Mining Machinery (1683 HK) posted an interim profit of RMB 203 million, up 40pc. No dividend was declared. (SingTao Daily B6)

Sands China (1928 HK) saw its profits soar 115.4% to US$539.5 million in the 1H, with revenues increasing 19.2% to US$2,360.8 million. (SingTao Daily B5)

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

Hong Kong Stock Market Wrap Aug. 26th, 2011

Citic Dameng Holdings Ltd. (1091 HK) announced that its first half-year net profit amounted to approximtately HK$380 million, up 6.5x year-on-year. No interim dividend was announced.
(SingTao Daily B15)

Hang Lung Properties (101 HK) launched a grand opening for its Jinan Mall yesterday. Chairman Ronnie Chan told reporters that the Group’s rental income from China will exceed that from Hong Kong this year after the opening of its Jinan and Shenyang malls. This developer plans to invest as much as RMB50 billion building shopping malls in other parts of China. (Hong Kong Economic Journal P4)

For the six months ended June 30, 2011, Shougang Concord International Enterprises Company (697 HK) recorded a net profit of HK$214 million, dropping 50.71 percent year-on-year. No interim dividend was announced. (SingTao Daily B15)

Sinopec Shanghai Petrochemical Company (338 HK) reported a first-half net profit of RMB1,426 million in 2011, down 5.81 percent year-on-year. The company did not declare the payment of interim dividend. (SingTao Daily B15)

The Bank of East Asia (23 HK) has completed the sale of 10 percent of equity interest in ICBC Canada to ICBC at a consideration of HK$124 million. The bank’s interest in ICBC is reduced from 30 percent to 20 percent, which will remain as a long-term investment for the bank. (Hong Kong Economic Times A10)

China Flooring Holding (2083 HK) registered a profit attributable to owners for the 6 months ended 30 June 2011 of around RMB95,240,000, a yoy surge of 46.5%. EPS was RMB0.08. (SingTao Daily B13)

CITIC Resources (1205 HK) saw its profit attributable to shareholders soar 134.8% to HK$393.4 million in 1H. The company has resolved not to pay an interim dividend. (SingTao Daily B13)

Datang International Power Generation (991 HK) saw its 1H operating revenue gain around 15.12% over the first half of 2010 to approximately RMB33,322 million, with net profit attributable to equity holders amounting to roughly RMB932 million, up about 2.17%. (Hong Kong Economic Journal 4)

Greentown China’s (3900 HK) interim profit attributable to owners amounted to RMB891.8 million, skyrocketing by169% yoy. Its board has resolved to declare an interim dividend of RMB0.10 an ordinary share in issue. (Hong Kong Economic Times A11)

Hunan Nonferrous Metals Corporation (2626 HK) booked a profit attributable to owners of RMB171 million for the 6 months ended 30 June 2010. Turnover advanced 24.01% yoy to RMB11,987 million. (Hong Kong Economic Times A11)

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

Hong Kong Stock Market Wrap Aug. 25th, 2011

Due to expansion of business in a rapid manner and management of expense rise in the first half of 2011, Belle International Holdings Ltd. (1880 HK) recorded the profit attributable to the shareholders up 29 percent to RMB2.01 billion. An interim dividend of RMB7 cents per share was announced. The company planned to deliver low-end footwear, middle and high-end men footwear and children’s category over the next 3-5 years.
(SingTao Daily B3)

For the six months ended June 30, 2011, China Resources Enterprise (291 HK) reported its net profit decreased by 63 percent year-on-year to HK$1,569 million. Its core businesses excluding the after-tax effect of asset revaluation increased by 18 percent. The company announced an interim dividend of HK15 cents per ordinary share. (SingTao Daily B3)

Industrial and Commercial Bank of China (1398 HK) announced that for the first half of 2011, its net profit amounted to RMB109.48 billion, surging 29.4 percent. No interim dividend was announced. (SingTao Daily B2)

JF Household Furnishings (776 HK) was notified by its controlling shareholder Bounty Wealth that it placed a maximum of 2,945,000 shares of the company after trading hours on 19 August. (Hong Kong Economic Journal 26)

Kazakhmys (847 HK) intends to start a buyback programme to buy up to US$250 million of its ordinary shares listed on the London Stock Exchange. (Hong Kong Economic Journal 26)

Li Ning (2331 HK) plans to spend RMB285 million to repurchase inventory from distributors and offer clearance sales through more factory outlets to be opened this year.
(SingTao Daily B6)

Renhe Commercial (1387 HK) recorded a 1H profit attributable to shareholders of RMB605.0 million, a yoy jump of about 357.6%. As at the end of 24 August, its GFA under management went up 78% yoy to roughly 1.34 million sq.m. (Hong Kong Economic Times A12)

Shandong Chenming Paper (1812 HK) recorded RMB484 million of net profit for the first half of 2011, down 20.45 percent year-on-year. The company maintained no payment of dividends. (SingTao Daily B6)

Sinopharm Group’s (1099 HK) 1H profit attributable to equity holders amounted to RMB784 million, advancing 23%. Its gross profit margins fell 0.11%
to 8.17%. (Hong Kong Economic Times A12)

SOHO China (410 HK) realized an interim net profit attributable to equity shareholders of RMB1,750 million, gaining 2% yoy. The firm declared an interim dividend of RMB0.14 a share. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap Aug. 24th, 2011

Bank of China (3988 HK) said that due to the stable increase in gross profit margin and improvement in commission income, its net profit increased by 27.86 percent to RMB66, 513 million for the first of 2011. No interim dividend was announced. (SingTao Daily B1)

Due to continued growth in core businesses and net recovery from the underlying collateral of the Lehman Brothers Minibonds amounting to HK$2,854 million, BOC Hong Kong (2388 HK) recorded its first-half net profit surged 67 percent year-on-year to HK$11,993 million, a new high since its listing in 2002. The bank announced an interim dividend of HK$0.63 per share. (SingTao Daily B1)

China Dongxiang (Group) (3818 HK) posted an interim profit attributable to equity holders of RMB225 million, diving 71.4%. It declared an interim dividend and interim special dividend of RMB1.19 cents and RMB1.59 cents respectively an ordinary share. (Hong Kong Economic Times A13)

China Technology Solar Power (811 HK) announces that its subsidiary Qinghai Baike Solar Power and LDK Solar Hi-Tech (Suzhou), subsidiary of LDK Solar, have entered into a supply contract for the supply of 8 megawatt polysilicon crystalline silicon solar energy battery components to Qinghai Baike for an aggregate consideration of RMB66,400,000. (Hong Kong Economic Journal 25)

CNOOC Ltd. (883 HK) annouced that for the period ended June 30, 2011, its net profit amounted to RMB39.34 bn, representing an increase of 51.4 percnet over the same period last year. The company announced an interim dividend of HK25 cents per share, up 19 percent year-on-year. (SingTao Daily B2)

CSR Corporation (1766 HK) announces that it has of late entered into contracts for or won the bids of roughly six major projects, with an aggregate value of about RMB7.16 billion. (Hong Kong Economic Journal 25)

Li Ning Company (2331 HK) reported interim profit attributable to equity holders of RMB294 million, slipping 49.5%. Revenue fell 4.8% to RMB4,289 million. The company declared an interim dividend of RMB11 .13 cents an ordinary share. (Hong Kong Economic Times A13)

Lonking Holdings Ltd. (3339 HK) announced that for the six months ended June 30, 2011, its net profit significantly increased by 24.63 percent to RMB1, 154 million, with basic earnings per share were RMB0.27. An interim dividend of HK6 cents per share was announced.
(SingTao Daily B5)
Tai Sang Land Development Ltd. (89 HK) announced that for the first half of 2011, its profit attributable to the owners amounted to HK$461 million, up 122 percent year-on-year. The company declared an interim dividend of HK3 cents per share for the period. (SingTao Daily B5)

Tech Pro Technology Development (3828 HK) announces that its wholly-owned subsidiary has agreed to acquire 60% of the entire issued share capital of Pacific King Technology and the shareholders’ sale loan at a total consideration of HK$138 million. (Hong Kong Economic Journal 25)

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