Hong Kong Stock Market Wrap January 28th, 2011

China Unicom (Hong Kong) (762 HK) estimates profit attributable to equity holders for 2010 to sink by over 50 per cent mainly due to the fast increase of expenses, particularly the 3G handset subsidy. (Hong Kong Economic Journal P3)

China WindPower Group (182 HK) will be entering into a facility agreement with Asian Development Bank. The bank, pursuant to the agreement, will make available a term loan facility in an aggregate principal amount of up to US$60 million or its RMB equivalent and will further provide an additional US$60 million term loan facility upon certain conditions are fulfilled by the former. (SingTao Daily B13)

Huabao International Holdings’ (336 HK) controlling shareholder and chairman Chu Lam Yiu has disposed of 200 million existing shares at HK$11 per share. (SingTao Daily B13)

Jiangxi Copper Company (358 HK) expects its net profit attributable to equity holders for the year 2010 to climb by 90-110 per cent. (Hong Kong Economic Times A7)

Minmetals Land (230 HK) discloses that its JV companies in Hebei have acquired a piece of land in Hebei Province with an expected site area of around 6.7 hectares at 100 million yuan. (SingTao Daily B13)

Xinjiang Xinxin Mining Industry (3833 HK) expects its 2010 financial results to soar, mainly attributable to a hike in the average selling price of major non-ferrous metal products and a gain in the production and sales volume of nickel cathode. (Hong Kong Economic Journal P3)

Yanzhou Coal Mining (1171 HK) has won a bid for the mining rights of Zhuan Longwan coal mine zone at 7.8 billion yuan. The planned production capacity of the coal mine zone is 5 million tonnes per year. (Hong Kong Economic Times A7)

CHALCO (2600 HK) announced yesterday that the company would issue no more than one billion additional A Shares, accounting 6.88% of the total issued share capital as enlarged by the A Share Issue. (Hong Kong Economic Times A6)

Guo Shuqing, Chairman of China Construction Bank, the second largest bank in the world by market capitalization, is reported to appoint as director of national development and reform commission. Mr. Guo lead CCBC (939 HK) to lauch dualing listing in both Mainland China and Hong Kong. (Sing Tao Daily B9)

China Shipping Development (1138 HK) announced today the suspension of this company’s A shares trading and board of directors will meet and discuss matters on issuing no more than 3.95 billion RMB convertible bonds. (Sing Tao Daily B9)

China Oilfield (2883 HK) plans to input more deep water equipments for resource explorations. Along with the speed of the development of oil companies, the company expects that the total capital costs in the twelfth five-year plan will be more than 20 billion RMB in the eleventh five-year plan. (Hong Kong Economic Times A8)

Along with the increase demand in copper, the surge of copper prices is highly expected. Mining production costs grow along with the appreciation of Australian dollar. CST Mining (985 HK)reported that they could well handle its business operation without liabilities. (Hong Kong Economic Journal P7)

Jutao (3303 HK), a competitive integrated professional service provider in offshore oil & gas as well as shipbuilding industries, now expand its plant constructions. The company’s project of phase II of Zhuhai site, totaling HK$163 million, is expected to complete in the first half of this year. (Hong Kong Economic Journal P26)

Vincent Lo, CEO of Shui On construction and materials limited (983 HK), planned to acquire 54 million offer shares in the ordinary share capital from qualifying shareholders of the company. Mr. Lo noted he had no intention to privatize the company. (Sing Tao Daily B9)

Sunac (1918 HK) announced that it successfully acquired the land use rights of the two pieces of land through the listing-for-sale process, totaling 1.879 billion RMB. (Hong Kong Economic Times A8)

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

Hong Kong Stock Market Wrap January 27th, 2011

Asian Citrus Holdings (73 HK) expects its unaudited profits for the 6 months ended 31
Dec 2010 to substantially increase by more than 100 per cent on a 25.5 per cent increase in winter orange crop yield and an increase in average selling price of about 9 per cent yoy. (Hong Kong Economic Times A11)

The Offer Price of Baofeng Modern (1211 HK) has been determined at HK$2.00 per Offer Share. Baofeng Modern enjoyed widespread market attention, which indicates great confidence of investors in the company's outlook. (Sing Tao Daily B14)

Beijing North Star Company (588 HK) expects 2010 profit, excluding gains from changes in fair value of investment properties, attributable to the equity holders to slide by more than 40 per cent on a drop in the number of commercial and residential property projects available for settlement and an increase in finance costs. (Hong Kong Economic Journal P11)

The lunar year festival supports the share price of Bonjour (653 HK) onto a high level. The company is expected to witness over 10 per cent of increase in revenue in 2011. The cosmetics market in mainland is optimistic. (Sing Tao Daily B12)

China Oilfield Serviced (2883 HK) estimates its 2011 capital expenditure will be 4.72 billion yuan and says that over 90 per cent of the operation contracts of the heavy equipments of the company for 2011 have been secured. (Hong Kong Economic Journal P7)

China Resources Cement’s (1313 HK) wholly owned subsidiary China Resources Cement (Longyan Yanshi) has entered into a property transfer agreement with independent third party Fujian Zijin Hengfa Construction Materials for acquiring a cement production plant under construction in Longyan Municipality of Fujian Province at around 277.2 million yuan.
(Hong Kong Economic Journal P6)

Orders of Rongsheng (1101 HK) ranked the first place in China. Since the shipbuilding industry was highlighted in the 12th five-year plan in China, Rongsheng is expected to make a difference. The next step for Rongsheng is to research and develop natural gas-powered ships. (Sing Tao Daily B13)

CNOOC (883 HK) set its businesses strategy in 2011. The total targeted net production of the Company in 2011 is 355 million to 365 million barrels of oil equivalent (BOE) (assuming with WTI at US$82.0/barrel). Future exploration focuses on shallow continental shelves. (Sing Tao Daily B3)

GCL-POLY (3800 HK) estimated earnings in the second half of last year were three times earnings in the first half of last year. The whole year earnings are approximately HK$3.15 billion. (Sing Tao Daily B5)

Get Nice (64 HK) and Shin Kong CM entered into the Cooperation Agreement in relation to the formation of the JV Company. The JV Company shall be held as to 50% by the Company and 50% by Shin Kong CM. Future TDR issue in Taiwan has not been settled down. (Sing Tao Daily B3)

Huadian Power International (1071 HK) expects its 2010 annual results to decrease by more than 50 per cent due to a sharp rise in the fuel costs as a result of the coal price hikes in the regions where it provides services in 2010. (Hong Kong Economic Times A11)

Lenovo (992 HK) and NEC have agreed to establish a joint venture company to own and operate their respective personal computer businesses in Japan. Equity transactions are due to be completed before the end of June 2011. (Sing Tao Daily B5)

L’Occitane International (973 HK) saw sales expand 26.5 per cent yoy to EUR586 million for the 9 months ended 31 Dec 2010. The number of its retail stores climbed to 872. (Hong Kong Economic Journal P6)

PetroChina Company’s (857 HK) parent announces that a subsidiary will acquire 19.9 per cent equity interest in Liquefied Natural Gas of Australia and become its biggest shareholder. Investment amount has not been announced. (Hong Kong Economic Journal P7)

Want Want (151 HK) is the dominant company among its rivals, taking up 70 per cent of the market shares. Diversity in products takes in more profits. The reconstruction of distribution system was completed. Profits are expected to hike in 2011. (Sing Tao Daily B13)

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

Hong Kong Stock Market Wrap January 26th, 2011

Anton Oilfield (3337 HK) planned to develop its pipe business independent from other business of the company. The introduction of future investors or the pipe spin-off is also taken into consideration. (Sing Tao Daily B3)

Automobile shares are popular in the unstable mainland market. Sales of automobiles declined influenced by subsidy policies. Along with the improvement of spending power in mainland, BYD (1211 HK) deserves positive outlook in the middle term, despite closing at HK$38, or dropping 2.69 per cent yesterday. (Sing Tao Daily B12)

China Hongqiao (1378 HK) launched its IPO today. Despite slight fluctuations on gross profit margin, the company is benefited from its role in China, the fastest growing market for aluminum products. Funds raised are mainly put into expanding output, research and sales. (Sing Tao Daily B7)

China Merchants Holdings (144 HK) lead the upward trend in the market, up 3.15 per cent. The company’s outlook is positive due to its growing market shares and relative low port charges in mainland. Projected throughput CAGR for the next three years is 10 per cent. (Sing Tao Daily B10)

China Qinfa Group (866 HK) expects 2010 net profit to jump to not less than 2.5x the 2009 net profit on a sharp rise in the coal handling and trading volume as a corollary of revival in the demand for coal-fired electricity in the PRC and the recovery of the global economy and on the efforts of its management on improving its integrated coal supply chain. (Hong Kong Economic Journal P9)

To increase its market shares, China Wireless (2369 HK) promoted its business on low-cost 3G mobile phones. As the major producer and distributor of smart phones in mainland, good business performance these years enhanced its appeal to more buyers in the future. (Sing Tao Daily B10)

Franshion Properties (China) (817 HK) has won a bid to become the investor in a project in the core region of the Dahexi Pilot Zone in Changsha, to be in charge of land requisition, compensation and resettlement, etc. It will also subsequently take part in the bidding, auction or listing-for-sale of the land in the project according to the terms of the bid. (Hong Kong Economic Journal P11)

Hang Lung’s (101 HK) net profits dropped tremendously; thanks to the development of its mainland business, its price relived itself from obvious fluctuations. The price closed at HK$34.9, down 8.6 per cent from the high level early this month. Good outlook is still expected. (Sing Tao Daily B12)

Heng Tai (197 HK) picks up its speed to march into the mainland market. Its retail business is anticipated to embark onto the mainland in 2013. Armed with rich funds in hand, the company also explained its strategy to do more contract farming. (Sing Tao Daily B11)

At Hongkong Electric’s (6 HK) EGM yesterday, 99.96 per cent of votes were cast in favour of a resolution to approve a proposed change of company name to “Power Assets Holdings Limited 電能實業有限公司” and the resolution was duly passed. The new name is subject to the approval of the Registrar of Companies and is expected to become effective in mid Feb. (Hong Kong Economic Journal P9)

IPO: UK-listed company Kazakhmys reportedly plans to float in HK in 2H to raise US$500 million – 600 million, with Citi as one of the arranging banks. (Hong Kong Economic Journal P8)

Orient Overseas (International) (316 HK) saw total volumes climb 18.9 per cent and total revenues surge 41.9 per cent to US$1.52 billion in Q410. For the full year, total volumes rose 14.6 per cent yoy and total revenues, 46.1 per cent. (Hong Kong Economic Journal P9)

TECHTRONIC (669 HK) INCREASED THE PROPORTION OF ACCESSORY BUSINESS The gross profit margin of accessories possesses up to 10-20 percentage points higher than those of machines. The company decided to expand the market of accessories. Along with the expansion of its mainland market, the company continues to introduce high-tech products. (Sing Tao Daily B3)

Telefield International’s (1143 HK) gray market price was HK$1.23 yesterday, up 2.5 per cent marginally over the IPO price of HK$1.2. (Hong Kong Economic Times A10)

Time Infrastructure Holdings (686 HK) has agreed to place up to around 125 million shares, around 14.6 per cent of its issued share capital as enlarged, at HK$1.45 each to raise up to about HK$179 million for its solar cell business. (Hong Kong Economic Journal P9)

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

Hong Kong Stock Market Wrap January 25th, 2011

Chaoda Modern (682 HK) is at less 4x P/E ratio and deserves market watch. Benefited from the climbing prices of vegetables, fruits and rice, the total revenue of the company is expected high. It is anticipated that the profits will increase 21 pc to HK$4.43 billion in 2011, earnings per share at HK$1.32. (Sing Tao Daily B11)

Chaowei (951 HK) increased its facilities to expand its output. Since it was listed in July last year, production plants were constructed in mainland. The company found its support in price at HK$2.16, dropping from HK$3.48. The price is on the upward trajectory. (Sing Tao Daily B11)

China Shipping Development (1138 HK) expects to record a yoy gain of around 60 per cent in its 2010 unaudited net profits on an increase in the freight rates, lower than market’s average projection. (Hong Kong Economic Times A10)

Chinese Estates (127 HK) sets its sights on mainland projects these years. Although real estate market in mainland tends to be nonchalant during these months, some projects of Chinese Estates still see prices climb. Policy adjustment exerts little influence on its home-oriented projects. (Sing Tao Daily B3)

COSTIN New Materials (2228 HK) announces that, based on the preliminary review of the management accounts for the year ended 31 Dec 2010, it is expected to register a sharp yoy gain in its net profit arising from normal operations on an increase in sales and improvement in gross profit margin of its products. (Hong Kong Economic Times A10)

Datang International Power Generation (991 HK) expects its 2010 unaudited net profit to advance by more than 50 per cent yoy, better than market expectation. Shares ended at HK$2.74 yesterday. (Hong Kong Economic Times A10)

Fortune REIT (778 HK) booked net profit of HK$1.613 billion for FY2010, surging 45 per cent yoy. Income available for distribution amounted to HK$406.5 million, a rise of 20.3 per cent from a year earlier. The distribution per unit was HK$24.35 cents, which included a final DPU of HK$12.08 cents. (Hong Kong Economic Journal P9)

IPO: Glencore is weighing going public in London and HK. Market sources say it has submitted listing application to the HKEx. It is expected that the dual listing is to raise US$10 billion. The group may float in HK in Q2 at the soonest. (Hong Kong Economic Journal P4)

Hengan (1044 HK) rebounds at last after a period of dropping of over 20 pc. The upward trend is expected in the short-run. It is capable of transferring cost and the target price in the short-term is at HK$67. (Sing Tao Daily B11)

Suffered from the pressure exerted by the mainland stock market along with low performance of China’s stocks, traditional blue chips gained higher performance, including Hutchison Whampoa (13 HK), which maintained its upward trend at the price of HK$93.85, up 0.86 per cent yesterday, and the subscription warrant of 27855 deserved attention.
(Sing Tao Daily B9)

NVC (2222 HK) lighting is benefited from the environmental trend these days. NVC tends to be very popular with investment banks as the positive rating is highly recommended. (Sing Tao Daily B10)

Pico Far East (752 HK) saw net profit soar 55 per cent to HK$192 million in 2010. Turnover hit HK$3.075 billion for the first time. The board is proposing a final dividend of HK$4 cents a share and a special dividend of HK$1.5 cent a share. (Hong Kong Economic Journal P6)

Tencent (700 HK) performed well in the market on Tuesday, with its price rebounding to over HK$200, up 5 per cent. Many market research reports set Tencent at the rating of buy.
Tencent’s challenge to the high price of HK$205.8 can be considered with reference to the subscription warrant of 28388. (Sing Tao Daily B9)

Tingyi (Cayman)’s (322 HK) beverage business with its diversity and success gained high profits. The total amount of business increased 42. 18 pc in beverage business in the 3rd quarter, higher than that of the same period in 2009, reached US$1.26 billion. (Sing Tao Daily B12)

Youyuan International Holdings (2268 HK) expects to report a significant yoy increase in 2010 net profit on increases in both sales volume and average selling price of products as well as the introduction of new products such as ivory boards and paper towels during the year. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap January 24th, 2011

BaWang International (Group) (1338 HK) estimates that its 2H10 turnover to decrease by around 48 per cent yoy and its 2010 results may record a loss. The company issued a profit warning announcement on 23 Nov 2010. (Hong Kong Economic Times A10)

Market sources say China Lumena New Materials (67 HK) has placed 340 million shares at HK$2.81-2.92 per share, an around 7-10.5 per cent discount to yesterday’s closing price, to raise up to almost 1 billion. (Hong Kong Economic Times A10)

China Shenhua Energy (1088 HK) announces that its 2010 commercial coal production reached 225 million tonnes, up 6.9 per cent yoy. Coal sales hit 293 million tonnes, gaining 15.1 per cent yoy. Gross power generation jumped 34.3 per cent yoy to 141.15 billion kwh. (Hong Kong Economic Journal P8)

China Telecom (728 HK) announced the number of its 3G customers totalled 34.43 million by the end of December last year. The price rose to HK$4.73 last week, the new high over the last two and a half years since June 2008. iPhones will be recommended as the short-term stimulation. (Sing Tao Daily B9)

G-Resources (1051 HK) announced its project update that Leighton Asia was awarded the plant site earthworks contract and work commenced in October 2010, the project is 80 per cent completed. The project is in progress according to plan. (Sing Tao Daily B4)

ICBC (1398 HK), influenced by China’s deposit reserve requirement ratio, was not highly expected by funds. Price dumped below HK$6. Shareholders are expected to hold on the sidelines.
(Sing Tao Daily B9)

Kingway Brewery (124 HK) expects 2010 profit to increase significantly yoy mainly attributable to a drop in selling and distribution expenses brought about by its proper cost control measures and a fall in finance costs due to a reduction in outstanding bank borrowings. (Hong Kong Economic Times A10)

Kingboard Chemical (148 HK), expected 8.85x P/E ratio and 1.3 x M/B ratio this year, held the price at HK$44.95 yesterday. The company is expected to realize its value along with the development of housing businesses. (Sing Tao Daily B9)

Li & Fung (494 HK) saw its five consecutive rise among blue chips. Profits of this company are highly anticipated. Citi set the rating of Li & Fung as “buy”. (Sing Tao Daily B8)

Mingfa Group (International) (846 HK) announces that, based on a preliminary assessment, there was a considerable yoy drop in the gross floor area sold and a yoy rise in unit price of property sold last year, which will result in a fall in revenue. Core net profit, however, will be not significantly different. (Hong Kong Economic Journal P11)

Nuclear power to promote recycling helped Shanghai Electric (2727 HK). The company was reported to witness a breakthrough in results of the company last year. The company was rated as “hold” and target price at HK$5.3. (Sing Tao Daily B8)

Standard Chartered (2888 HK) has signed an agreement to acquire an auto and personal loans business in Singapore under GE at a consideration of almost US$780 million. The transaction is expected to be completed in Q111. (Hong Kong Economic Journal P4)

Yankuang Group (1171 HK), the Company and Yanchang Petroleum entered into the JV Agreement for the formation of the JV Company. The JV Company will be owned as to 50% by Yankuang Group, the parent group, 25% by the Company and 25% by Yanchang Petroleum. The registered capital was 5.4 billion yuan. (Sing Tao Daily B4)

New energy shares deserve attention from investors. Supported by national policies, Cheung Kong Holdings made its bid on new energy shares. Goldwind (2208 HK) saw a slight dip of 0.27 per cent and closed at HK$14.98 yesterday. (Sing Tao Daily B10)

Zhong An Real Estate (672 HK) plans to issue Renminbi denominated U.S. dollar-settled senior notes to raise funds for acquisitions of land and projects as well as for general corporate purposes. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap January 21st, 2011

China Agri-Industries (606 HK) expects its 2010 profit to decrease by 13 per cent yoy mainly because the profits derived from oilseeds business and rice business dropped. (Hong Kong Economic Times A9)

CRCCG (1186 HK) has agreed to pay 2.077 billion yuan to China Railway Construction Corporation Limited. The latter will cease to bear or enjoy any subsequent loss or profit of the Al-Mashaaer Al-Mugadassah metro light rail project in Saudi Arabia, all of which will then be borne or enjoyed by the former. (Hong Kong Economic Journal P1)

China Zhongwang (1333 HK) expects its 2010 net profit to decline by more than 25 per cent yoy partly because its export sales to the US went down as the country has conducted anti-dumping and countervailing duties investigations on certain aluminium extrusion products exported from China. (Hong Kong Economic Journal P5)

Evergrande Real Estate Group (3333 HK) will acquire 71 per cent interest in the registered capital of Shenzhen Construction (Group) for 1.66 billion yuan. Shenzhen Construction (Group) will be held as to 29 per cent by Shenzhen Investment Holding. (Hong Kong Economic Times A9)

Sinopec Shanghai Petrochemical Company (338 HK) expects 2010 net profit to increase by 50-70 per cent yoy as crude oil processing volume and outputs of ethylene, some important intermediate petrochemicals and plastics recorded historic highs. (SingTao Daily B14)

Sinopec Yizheng Chemical Fibre (1033 HK) expects its 2010 net profit to jump by more than 200 per cent yoy as the prices of domestic polyester products increased markedly and the profit margin of polyester products was improved. (SingTao Daily B14)

Value Partners Group (806 HK) has entered into an agreement to set up a JV private equity fund management company with Yunnan Industrial Investment in Kumming, Yunnan, planning to establish a Renminbi -denominated private equity fund by the end of the year to raise around 500 million yuan. (Hong Kong Economic Journal P2)

Cheung Kong (1038 HK) is in progress of bidding for electricity networks in middle of England. According to The Sunday Times, Li Ka Sing also sent consultants to Irish ports and electric companies there. (Sing Tao Daily B17)

China Power New Energy (735 HK) issued new shares, valued at HK$2.1 billion, to China Yangtze Power to expand its power generating projects. China Yangtze Power became the primary shareholder with 26.2 per cent of holdings of China Power New Energy. (Sing Tao Daily B17)

China Unicom (762 HK) decided to purchase price for all Telefónica Treasury shares of EUR370 million. The transaction is due to be completed before 27 January. (Sing Tao Daily B18)

CNOOC (883 HK) announced that the Company and CNOOC Finance (2011) entered into a Purchase Agreement with Barclays Capital, BOC International, BofA Merrill Lynch, Citi, Goldman Sachs and J.P. Morgan in connection with the issuance of the 2021 Notes and 2041 Notes. (Hong Kong Economic Times A8)

Hang Lung (101 HK) says they are in lack of huge profits compared with the same period last year. The profits are in tremendous regression, slumping 80 per cent. (Sing Tao Daily B17)

ICBC (1398 HK) announced yesterday the bank had entered into agreement of connected transaction with BEA. ICBC purchased 80 per cent of interest in the BEA, totalling HK$1 billion. (Hong Kong Economic Journal P2)

Li Ning (2331 HK) encountered a big challenge brought by its rival Anta. Li Ning decided to integrate distributing channels to catch up new changes. It is estimated that new moderation and adjustment take effective in the second half till the end of this year. (Sing Tao Daily B14)

PCCW (8 HK) offered HK$100 thousand for its new quiz programme to attract more customers. Patent application was approved for this software development. PCCW considered providing more bonus for this programme based on market reaction. (Sing Tao Daily B15)

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

Hong Kong Stock Market Wrap January 20th, 2011

Aluminum Corporation (2600 HK) announced, with Guangxi Nonferrous Metals, they planned to form a joint venture for development of RE resources in Guangxi in an effort of 3 to 5 kinds of RE resources development within five to ten years from now. (Hong Kong Economic Journal P6)

Market sources say Asia Cement (China) Holdings (743 HK) plans to issue not more than US$402.5 million zero-coupon CBs via Goldman Sachs. (SingTao Daily B3)

Birmingham (2309 HK) announced it purchases 90% of equities of a piece of land (approximately 967388 square meters) to be developed in Liaoning province at a price of no less than 502 million yuan and no more than 1.552 billion yuan. (Hong Kong Economic Journal P6)

BOC Hong Kong (2388 HK) says Lam Yim Nam, Deputy Chief Executive of the group, will retire with effect from 1 Apr 2011. Yeung Jason Chi Wai will take his place, overseeing the Personal Banking and Product Management, Channel Management and BOC Credit Card (International) Limited. (SingTao Daily B3)

Cathay Pacific Airways (293 HK) appoints Ivan Chu to be its director and chief operating officer with effect from 31 Mar 2011. (SingTao Daily B3)

China CITIC Bank (998 HK) estimates that its 2010 net profit to increase by over 50 per cent. Under the International Financial Reporting Standards, its 2009 net profit was 14.319 billion yuan. (SingTao Daily B2)

China Unicom (762 HK) lifts dealers with outstanding ratings read as “hold”, “outperform” and “overweight” by Deutsche Bank, Credit Suisse and Morgan Stanley respectively.
(Hong Kong Economic Times A3)

Chinese Estates Holdings (127 HK) has agreed to subscribe Kaisa Group (1638)’s bonds in the aggregate principal amount of 2 billion yuan to be settled in US dollars. The bonds will bear interest at a rate of 8.5 per cent pa. (SingTao Daily B4)

Fosun International (656 HK) cast 2.55 billion yuan, or 3.5 yuan per share to purchase H shares of Shanghai Forte, and suggested the listed state of Shanghai Forte hindering finance and fund injection. (Hong Kong Economic Times A12)

Guangzhou R&F (2777 HK) and KWG cast 1.014 billion yuan on the purchase of the remaining 30 per cent of equities of Shanghai Chengtou Corporation. They both spent 507 million yuan respectively on this project. (Hong Kong Economic Journal P12)

Mascotte Holdings (136 HK) has agreed to purchase 50.1 per cent of the issued shares of the Trifecta International for US$150 million. It proposes to raise HK$2.8 billion by placing 354 million subscription shares, 3 billion placing shares and 3.2 billion conversion shares. (SingTao Daily B3)

Pacific Andes (1174 HK) announced its profits achieved at 11,471 million yuan, up 1.8 per cent from 28 Sept. till the end of last year, and its fishing and processing & distribution department were rated as good performance in revenue. (Hong Kong Economic Journal P6)

Pacific Plywood (767 HK) expects its last year’s results to return to the black. It says that the positive turnaround is mainly attributable to a gain on disposal of its subsidiaries. (SingTao Daily B2)

Sihuan Pharmaceutical Holdings (460 HK) has agreed to acquire 80 per cent equity interest in Changchun Xiangtong Pharmaceutical at 140 million yuan. (SingTao Daily B3)

Yue Yuen (551 HK) announced its net profit gains 3.2 per cent to the value at $480 million, or 29.08 cents earned per share, final dividends sent at 56 cents, one cent higher than those of the same period last year. The whole-year dividends were sent at 90 cents. (Hong Kong Economic Journal P6)

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

Hong Kong Stock Market Wrap January 19th, 2011

It is said that the revenue of Aluminum Corporation (2600 HK) Of China’s parent went up 41 per cent yoy last year. (SingTao Daily B4)

Baytree Investments (1900 HK) has placed 107 million shares in China ITS (Holdings) at HK$4.7-4.9 apiece to raise up to 524 million. (SingTao Daily B4)

Stock market expects high from China Mobile (941 HK), closing at 24419 points, up 1.1 per cent from the prior points, and the trading volume jumps at 80.9 billion yuan from 3.9 billion yuan. Good outlook is expected. (Hong Kong Economic Times A2)

China Shipping Container Lines (2866 HK) expects its 2010 profit to go up sharply as compared with a loss of almost 6.5 billion yuan in 2009 on the recovery of global economy and the shipping industry. (SingTao Daily B2)

China Unicom (Hong Kong) (762 HK) recorded over 1.28 million net additions of 3G service subscribers. The aggregate no of 3G service subscribers broke14 million. Net additions of broadband subscribers was 0.292 million. (SingTao Daily B4)

China Wireless Technologies (2369 HK) has placed 100 million new shares at HK$4.49-4.68 each via UBS to raise up to 468 million. (SingTao Daily B4)

First production line of CITIC Pacific’s (267 HK) iron ore mine project in Australia failed to go into operation at the end of last year as scheduled, but the company announced yesterday that it is expected to commence production by the end of this year. (Hong Kong Economic Times A13)

COSCO Pacific (1199 HK) recorded total container throughput of 4.1314 million TEUs in Dec, up 12.8 per cent yoy. (SingTao Daily B4)

Fubon Bank (HK) (636 HK) says the total consideration will be around HK$1.4652 billion for the proposed privatisation of the ordinary share capital of the company by Fubon Financial by way of a scheme of arrangement. (SingTao Daily B4)

Hong Kong Building Department declined Henderson Land (12 HK). Henderson Land’s construction plans were not approved, for some of its projects do not account for 100 per cent ownership. (Hong Kong Economic Journal P2)

Mirae Asset (2835 HK) arranged Tiger Kopsi 200 ETF get listed. New ETF will be further introduced and developed this year. Two-digits rise of ETF is expected. (Hong Kong Economic Journal P4)

Pou Sheng International (Holdings) (3813 HK) booked net profit of US$21.3 million for the year ended Sep 30 2010. EPS was 0.5 US cent. No final dividend will be paid. (SingTao Daily B4)

Telefield (1143 HK) sets the public offering price between 1.01 yuan and 1.35 yuan. Under the claw back mechanism, the public offering sector, subscribed more than 100 times, accounts for 50% up from 10%. (Hong Kong Economic Journal P4)

West China Cement (2233 HK) announces the issuance of senior notes due 2016 in the aggregate principal amount of US$400 million to raise US$388.2 million for the purposes of expanding production capacity, repaying the ICBC bridge loan and the Credit Suisse syndicated loan, and enhancing the company’s liquidity position. (Hong Kong Economic Journal P10)

Winfoong (63 HK) repurchased some A and B units of the Icon from their owners yesterday at a price 10 per cent higher than the firsthand purchase price of this property.(Hong Kong Economic Times A3)

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

Hong Kong Stock Market Wrap January 18th, 2011

Sources say that China All Access (Holdings) (633 HK) places 200 shares at HK$2.68-2.92 apiece, a 5.2-13 per cent discount to yesterday’s closing price, to raise up to 584 million.
(SingTao Daily B1)

China Golden Development (162 HK) enters into a MOU to acquire a company holding a property in Shaanxi with a total area of 93,200 m2 from Shaanxi F&L Properties at1.03 billion yuan. (SingTao Daily B2)

The accumulated premium income of China Life Insurance Company (2628 HK) last year was about 318.2 billion yuan, up 7.9 per cent yoy. (SingTao Daily B2)

China Sunshine (2002 HK) issues positive profit alert, expecting the profit ended 31 Dec 2010 to reach historical high and record an increase of not less than 250 per cent as compared to the year ended 31 Dec 2009. It was mainly attributable to the increase in sale volumes, average selling prices and gross profit margins of the group’s paper products. (Hong Kong Economic Times A10)

Guangzhou R&F Properties (2777 HK) gained its success in redevelopment projects in Guangzhou at the value of 2.35 billion yuan. The total construction area is 648,000 square meters with the listed starting price at 473 million yuan. (Hong Kong Economic Journal p7)

Huaneng Power International’s (902 HK) total power generation within the PRC on consolidated basis was 256.95 billion kWh last year, up 26.25 per cent yoy. Accumulated electricity sold was 241.799 billion kWh. (SingTao Daily B2)

Kaisa (1638 HK) announces the acquisition of a land parcel located at Hangzhou Zhijiang holiday resort area with a land area of about 39 thousand sq.m. for residential use at the total consideration of 672 million yuan. (Hong Kong Economic Times A10)

After announcing estimated results, Li Ning (2331 HK) dropped 3.9 per cent yesterday, following a plunge of 7.5 per cent the day before, to close at HK$15.18, hitting 19-month low. Almost all security companies lowered its target prices. (Hong Kong Economic Times A10)

New World Development (17 HK) decided to put approximate 1 billion Yuan to expand K11 projects in seven cities in mainland. Currently, mainland tourists account for approximate 20% of the total flow of K11. (Hong Kong Economic Journal P7)

PCD Stores (Group) (331 HK) appoints HSBC as the sole lead manager to arrange an offering of 3-yr and 5-yr fixed rate RMB denominated guaranteed bonds in two tranches. (SingTao Daily B2)

Phoenix Satellite (2008 HK) announces that it submitted a spin-off proposal to HKEx on Dec 30 last year in relation to the proposed spin-off of its new media business, which provides website portal, value-added telecommunications, promotional and ancillary services, to be separately listed on the NASDAQ Global Market or the New York Stock Exchange. (Hong Kong Economic Times A10)

Shui On Land (272 HK) announced that its fully-owned subsidiary--Shui On Development proposed invoices for institutional investors from Asia and Europe. The amounts, coupons and other related terms remain to be determined. (Hong Kong Economic Journal p7)

The Grande Holdings (186 HK) expects it will book a loss for the year ended 31 Dec 2010 as compared to the results for the 6 months ended 30 Jun 2010 due to the impairment loss recognized in respect of certain intangible assets as result of the ongoing uncertainty of the global market conditions. (SingTao Daily B2)

Unlimited Creativity Holdings (8079 HK) places 85 million new shares at HK$0.165 per share, a discount of almost 15 per cent to yesterday’s closing price, to raise around HK$13.7 million. (SingTao Daily B2)

Substantial shareholder of Zhongsheng Group Holdings (881 HK) places 60 million shares at HK$16.3-16.8 each, a 3-5.9 per cent discount to yesterday’s closing price. (SingTao Daily B1)

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

Hong Kong Stock Market Wrap January 17th, 2011

IPO: It is said that Prada will announce its HK listing plan on Sat and that it has appointed 4 investment banks to arrange for the listing, including Goldman Sachs. It is expected Prada may plan to raise 1.2 billion euro. (SingTao Daily B3)

Agile (3383 HK) announces that it has signed a facility agreement with Standard Chartered Bank pursuant to which a term loan facility in the amount of HK$1.55 billion has been granted to the company for 1 year. (Hong Kong Economic Times A15)

Aluminum Corporation of China (2600 HK) issued positive profit alert yesterday. Its unaudited annual results last year record a turnaround from a loss of 4.646 billion yuan in 2009. (Hong Kong Economic Times A10)

Angang Steel and Maanshan Iron (347 HK) issue positive profit alerts for the annual results ended 31 Dec 2010. Angang Steel expects a profit growth of 133.84-161.35 per cent and Maanshan Iron estimates a profit growth of more than 50 per cent yoy, both below market expectation. (Hong Kong Economic Times A10)

Baofeng Modern International’s (1121 HK) maximum offer price a lot of 2000 shares is HK$6020.08. Offer price is between HK$1.99-2.98. Market sources say its international placing was fully covered. (SingTao Daily B3)

Deloitte announces that REITs’ first RMB bond is expected debut on Hong Kong Stock Exchange. As of the end of November last year, the approximate 280 billion RMB deposits in Hong Kong accounted for less than 5 per sent of the share of foreign currency deposits. (Hong Kong Economic Journal P5)

Golden Meditech Holdings (801 HK) announces that new shares will be issued at an offer price of NT$11.20, equivalent to HK$3, per TDR, equivalent to around HK$1.5 per share. (SingTao Daily B3)

Jingwei Textile Machinery (350 HK) expects its 2010 results will return to the black and it will book a net profit in the range of around 220 million to 260 million yuan. (SingTao Daily B3)

Maanshan Iron & Steel (323 HK) estimates that its net profit for the year 2010 will increase by over 50 per cent. That means no less than 589 million yuan. The company’s net profit for the first 3Qs last year was over 1.044 billion yuan. (SingTao Daily B3)

Mingyuan Medicare (233 HK) has entered into a three-year distribution agreement with Shanghai Pharmaceuticals, whereby Shanghai Pharmaceuticals will distribute a total of no less than 650 thousand chips and testing kits of C-12 and HPV, representing 20 per cent of Mingyuan’s full-year sales in 2009. (Hong Kong Economic Times A15)

Ping An Insurance (Group) (2318 HK) announces that the accumulated written premiums of its subsidiaries Ping An Life, Ping An Property & Casualty, Ping An Health and Ping An Annuity last year totaled 226.56 billion yuan, up 31 per cent yoy. (SingTao Daily B3)

Tech Pro Technology Development (3823 HK) plans to buy a company principally engaged in LED street lamps and wind-solar new energy products business in the PRC at not more than HK$320 million. (SingTao Daily B3)

Related activities carried out by the ICON bring the new arrangement of old leases and new buildings to public attention. But this is not rare. As early as 2006, Henderson Land Development Company Limited (0012) presented old leases of Shining Heights, which also ignited a round of hot discussions. (Hong Kong Economic Journal P6)

Youyuan International (2268 HK) cooperates with a supplier to invest in a high-end wallpaper production line in Longhai city, Fujian Province. The production line will have an annual production capacity of approximately 35 thousand tons and is targeted to commence production in the second quarter of 2012. (Hong Kong Economic Times A15)

Vale S.A. (6210 HK) announces the final amount of the extraordinary dividend is around R$ 0.32005 per HDR, approximately HK$1.4765. (SingTao Daily B3)

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

Hong Kong Stock Market Wrap January 14th, 2011

361 Degrees (1361 HK) announces the revenue of its 25,38 shops which have operated for over 2-y. Sales amount in 4Q 2010 recorded 15 per cent increase compared to 16.2 per cent growth in 3Q. (Hong Kong Economic Times A10)
Chinese Estates (127 HK) announces the acquisition of entire issued share capital in River Court at the consideration of £ 37.79 million (approximately HK$465 million). (Hong Kong Economic Journal 5)

Emperor International (163 HK) has bought the shop in which Rado Watch is currently located, i.e. Ground Floor, No. 76 Perciavl Street, Causeway Bay, at HK$380 million. The price per sq. ft. was HK$633 thousand, hitting a new record. (Hong Kong Economic Journal 2)

Evergrande Real Estate (3333 HK) announces the issuance of 9.25 billion yuan (approximately HK$10.8 billion) US$ settled senior notes due in four and six years, with interest rates of 7.5 per cent and 9.25 per cent respectively. (Hong Kong Economic Journal 5)

Fong’s (641 HK) suspended the trading of its shares this Monday. Its major shareholder Fong Sou Lam sells 37.7 per cent share capital in Fong’s to China Hengtian, a PRC state-owned company, for HK$1.039 billion. (Hong Kong Economic Journal 2)

Nam Hing (986 HK) announces the acquisition of entire share capital, other than 14.64 per cent already held by Ploly Strategic, in Suncorp Technologies with Ploly Strategic at HK$0.1 per share. (Sing Tao Daily B3)

Zijin Mining (2899 HK) issued positive profit alert yesterday, saying the good results were mainly attributable to the increase in the sales price of the main products and the slight increase in production volume of copper and zinc products of the company last year. The estimated net profit was 4.6-5 billion yuan, up 30-40 per cent over the previous year. (Hong Kong Economic Journal 2)

Best Miracle International (8272 HK) plans to use HK$35.15 million to subscribe and exercise conversion rights attached to the CBs of Cheong Tat in order to hold 85 per cent interest in Cheong Tat and then provide an amount of funds to the latter to acquire 60 per cent equity interest in Wugu Farming. (SingTao Daily B13)

China Aerospace International (31 HK) plans to seek a general mandate from its shareholders in respect of the entering into all contracts, including but not limited to design, supplies of construction materials and constructions in respect of the provisionally named Shenzhen Aerospace Science & Technology Plaza during construction period. The contracts will be entered into with third party contractors by public tender or invitation. (SingTao Daily B13)

China South City Holdings (1668 HK) announces an issuance of US$250 million 13.5 per cent senior notes due 2016. The company expects the net proceeds to be around HK$1.835 billion. (Hong Kong Economic Journal P8)

China Star Entertainment (326 HK) has agreed to place up to 578 million shares to 6 placees at HK$0.07 each to raise HK$39.93 million. (SingTao Daily B13)

China Timber Resources (269 HK) has agreed to place 1.8 billion new shares to independent investors at HK$0.3 each to raise around HK$534 million. It has also agreed to issue 7 billion new shares at HK$0.4 each to Li Ka Shing Foundation, China Life Trustees, Lunar International and CEF Holdings to raise around HK$2.8 billion. (Hong Kong Economic Journal P6)

Meike International Holdings’ (953 HK) chairman and substantial shareholder Ding Siqiang acquired 994,000 shares of the company last Fri, taking his shareholding in the company to 47.15 per cent.
(SingTao Daily B13)

Public Financial Holdings (626 HK) posted net profit of 450 million for the year ended 31 Dec 2010, surging 63.6 per cent yoy. EPS amounted to HK$0.41. No final divided will be paid. (SingTao Daily B13)

Qunxing Paper Holdings (3868 HK) announces an issue of unlisted warrants at HK$0.05 per warrant to raise around HK$10.17 million. The warrants entitle the subscriber to subscribe for 206 million warrant shares at HK$2.95 per warrant share. (SingTao Daily B13)

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

Hong Kong Stock Market Wrap January 13th, 2011

Air China (753 HK) says, according to initial estimation, its 2010 unaudited net profit is expected to be more than 200 per cent of the previous year’s figure, benefiting from the rapid growth of China’s macro-economy and the steady recovery of the global economy. (Hong Kong Economic Times A12)

Beijing Jingkelong Company (814 HK) plans to acquire 86 per cent equity interest of Jing Chao from Shou Lian. The bid application has been submitted to China Beijing Equity Exchange. Minimum price stipulated by the vendor is 259 million yuan. (Hong Kong Economic Times A12)

Market sources say GIC has placed via UBS 135 million fund units of Champion Real Estate Investment Trust (2778 HK) at 4.65-4.8 a unit to raise up to around 648 million. (Hong Kong Economic Journal P12)

China Water Property Group (2349 HK) expects to record a substantial growth in the financial results for the year ended 31 Dec 2010 and to return to the black. (Hong Kong Economic Journal P17)

CNOOC (883 HK) suspended trading in the shares yesterday and announced the plan of issuing guaranteed notes. According to a notice, CNOOC booked net profit of 38.92 billion yuan for the first three quarters, up 89.2 per cent yoy. (Sing Tao Daily News B3)

Fosun (656 HK) announced yesterday that it has entered into a non-binding memorandum of understanding with Prudential Financial for establishment of funds, accounts and joint ventures within or outside China. Fosun and Prudential Financial would contribute no less than HK$780 million and HK$3.9 billion respectively. (Sing Tao Daily News B3)

Freeman (279 HK) announced last month its plan to acquire over 23 per cent equity interest in Liu’s Holdings from Liu Lit Man and his wife, but some members of Liu family mull to stop Freeman.
(Sing Tao Daily News B3)

JIANG Jianqing, Chairman of ICBC (1398 HK), said the bank would not seek financing in the capital market within three years. Stimulated by the news, ICBC shares went up 1.5 per cent to close at HK$6.02, performing better than other mainland bank shares. (Sing Tao Daily News B3)

International Taifeng (873 HK) expects to book a notable rise in profit for the year ended 31 Dec on a significant growth in sales revenue and an improvement in gross profit margins for both cotton yarn and bedding products segment. (Hong Kong Economic Times A12)

PetroChina’s (857 HK) parent company, PetroChina Group, achieved oil and gas output of over 200 million tonnes. PetroChina Group expects to increase its annual oil output by 2 million tonnes in the coming 5 years. (Sing Tao Daily News B4)

Poly (Hong Kong) Investment (119 HK) booked 2010 contracted sales of 11.4 billion yuan, up 42.5 per cent yoy, exceeding its 10 billion yuan sales target. Sales target for 2011 is 18 billion yuan. (Hong Kong Economic Times A12)

Richfield Group Holdings (183 HK) has agreed to place 250 million shares at HK$1.01 each to not less than 6 investors to raise around HK$243 million as general working capital. (Hong Kong Economic Journal P17)

Skyworth Digital (751 HK) announces its TV sales volume in Dec last year was 1.17 million, up 10 per cent yoy. (Sing Tao Daily News B3)

Stella International (1836 HK) announced its unaudited consolidated revenue for the three months and year ended 31 December 2010 were about US$325.3 million and US$1,295.9 million respectively, up approximately 31 per cent and 28.5 per cent respectively compared to the corresponding period last year. (Sing Tao Daily News B3)

Telefield International (1143 HK) begins its IPO today with offer price from the range of HK$1.01 to HK$1.35 and 2000 shares per board lot, about HK$2727 for each board lot. (Sing Tao Daily News B7)

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

Hong Kong Stock Market Wrap January 12th, 2011

Bank of China (3988 HK) announces the launch of yuan exchange and transaction services in the US regions, marking the first Chinese bank offering such services within the US. Analysts regards it a significant step for the internationalization of yuan. (Sing Tao Daily B2)

Cash Financial (510 HK) announced yesterday that Pricerite, a wholly-owned subsidiary of the company engaged in retail business, has appointed a sponsor in relation to the spin-off of Pricerite for a separate listing. (Sing Tao Daily B3)

Cathay Pacific increased its holdings in Air China (753) by 3.246 million shares at HK$8.938 per share this Monday, with total consideration of HK$29 million. (Sing Tao Daily B3)

China Overseas Land & Investment (688 HK) recorded Dec contracted sales of 8.39 billion, up 55.9 per cent mom. Full-yr contracted sales reached 67.11 billion, surging 40.4 per cent yoy, with sales area of 5.302 million sqm, up 11.2 per cent yoy. (Hong Kong Economic Times A10)

China Timber Resources Group (269 HK) issues 2.38 billion new shares at HK$0.3 per share, almost 19 per cent discount to the HK$0.37 prior to suspension of trading in shares, to raise about 714 million. (Hong Kong Economic Journal P2)

Fantasia Holdings (1777 HK) Group posted contracted sales of 3.89 billion last year. The company bought 2 sites in Nanjing and Wuxi in Dec for 280 million and 70 million respectively. As of 31 Dec, its land reserves totalled 13.93 million sqm. (Hong Kong Economic Times A10)

HSBC (5 HK) announced yesterday that it had issued 19,637,010 shares to shareholders who elected to receive the scrip dividend alternative for the third interim dividend for 2010. Dealings of those new shares were expected to commence yesterday. (Sing Tao Daily B3)

Newtree Group (1323 HK) ended at HK$1.96 in the gray market yesterday, 0.51 per cent higher than the IPO price of HK$1.95. Holding a lot of 2000 shares generated a paper gain of HK$20. (Hong Kong Economic Journal P6)

Nine Dragons Paper (2689 HK) announces the acquisition of 78.13 per cent equity interest in Hebei Yongxin Paper from Wing Fat, a subsidiary of Shanghai Industrial (363), for the consideration of 564 million yuan. (Sing Tao Daily B3)

RCG Holdings (802 HK) announces the acquisition of 6.1 per cent equity interest in Spartan Gold from Avalon for HK$50.7 million which will be financed by issuing 15.6 million new shares. (Sing Tao Daily B3)

Renhe (1387 HK) announced yesterday that it had intention to purchase the entire issued share capital of 無錫招商城有限公司(Wuxi Zhaoshangcheng Co., Ltd.) at the total consideration of 2.6 billion yuan. (Sing Tao Daily B3)

TCL Multimedia Technology (1070 HK) saw Dec LCD TV sales go down 19.1 per cent yoy to 990000 units, among which around 26.5 per cent was LED backlight TVs. Full-yr sales hit 7.46 million units. (Hong Kong Economic Times A10)

Zhuzhou CSR Times Electric (3898 HK), Regent Pacific (575) and Comtec (712) issued positive profit alerts yesterday. The first two companies expected their full-year profit ended 31 Dec 2010 would be far more than 2009, while Comtec announced its revenue for 3 months ended 31 Dec 2010 would be no less than 300 million yuan. (Sing Tao Daily B3)

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

Hong Kong Stock Market Wrap January 11th, 2011

UBS is bullish on China Merchants Holdings (144 HK), tipping its 2010 profit to be 4.082 billion, up 60 per cent yoy. (Hong Kong Economic Journal P1)

Mainland housing company China SCE Property (1966 HK) posted 2010 contracted sales of 3.606 billion yuan, up 85.1 per cent yoy, with contracted sales area of 488000sqm, up 149.6 per cent yoy. (Hong Kong Economic Times A9)

CSA (1055 HK) announced yesterday, its profit last year increased about 14 times over 2009. The full-year profit last year is expected to reach 5.37 billion yuan. (Sing Tao Daily B4)

Chinney Alliance (385 HK) issues profit warning for the full-year results last year. It says the significant decline in net profit was due to unexpected difficulties in site conditions. (SingTao Daily B3)

Evergrande (3333 HK) proposes to issue USD-settled RMB senior notes with maturity of 3 years and 5 years. It started a series of roadshow presentations this Monday and received good responses. (Sing Tao Daily B3)

Geely (175 HK) sold 415 thousand units of vehicles last year, representing an increase of 27 per cent. The company sets a sales target of 480 thousands. (Sing Tao Daily B3)

Charles Li, Chief Executive of Hong Kong Exchanges and Clearing (388 HK), expects the first yuan-denominated share to list in HKEx this year. HKEx plans to establish a yuan liquidity pool in the second half of the year, details of which will be announced shortly. (Sing Tao Daily B4)

Most telecom (215 HK) shares went up yesterday, among which Hutchison Telecommunications soared 9 per cent to close at HK$2.59, marking the new historical high. (SingTao Daily B3)

InterChina Holdings (202 HK) announces that it has entered into a memorandum of understanding with Northwest Nonferrous International Investment to establish a joint venture engaging in provision of consultation and management services for mineral resources exploration projects. (Sing Tao Daily B3)

KEE Holdings (2011 HK) opened at HK$1.48 and ended at HK1.5, off a high of HK$1.54, in the gray market. The closing price was 12.8 per cent higher than the IPO price of HK$1.33. Shareholders enjoyed a paper gain of HK$340 for holding a lot of 2000 shares. (Hong Kong Economic Journal P6)

Kwoon Chung Bus (306 HK) announces that HK Kwoon Chung (Chongqing) Bus Investment, its indirect 55 per cent owned subsidiary, has agreed to sell 76.64 per cent equity interest in Chongqing Kwoon Chung (New Town) Public Transport and 55 per cent equity interest in Chongqing Kwoon Chung Public Transport Holdings to Chongqing City Public Traffic for the total consideration of 230 million yuan (SingTao Daily B3)

A resolution was passed at the SGM of Man Yue International (894 HK) yesterday to change its company name to ‘‘Man Yue Technology Holdings Limited’’. Managing Director Chan Yu Ching, Eugene says the company plans to increase capital spending to around 150 million-200 million in the future. (Hong Kong Economic Journal P6)

Smartone Telecommunications (315 HK) went up 5.6 per cent to close at HK$16.9 yesterday as it has issued a positive profit alert. Credit Suisse raised its target price for the company to HK$15.6 from HK$9.45 yesterday. (Hong Kong Economic Journal P1)

Sumpo Food Holdings (1089 HK) issued at HK$0.68, opened at HK$0.8 and closed at HK$0.77, off a high of HK$0.82. Holding a lot of 5000 shares generated a paper gain of HK$450. (Hong Kong Economic Journal P6)

TCC International (1136 HK) expects 2010 profit to go up sharply due to a significant expansion of its clinker and cement production capacity, a sharp rise in sales volume and an increase in product prices in 2H. (Hong Kong Economic Times A9)

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

Hong Kong Stock Market Wrap January 10th, 2011

Henderson Land Development (12 HK) has entered into a term loan and revolving credit agreement with a syndicate of banks, relating to the provision of certain HK Dollar
3-yr term loan and revolving credit facilities of up to HK$10 billion. It provides a guarantee to the banks. The borrower is a wholly owned subsidiary. (Hong Kong Economic Journal P12)

KEE Holdings (2011 HK) will list on the bourse on Wed. It is said that its retail tranche and international placing was 160x and 3x oversubscribed respectively. (Hong Kong Economic Journal P4)

Newtree Group (1323 HK) will list on the bourse on Thu. Rumours spread that it will fix the IPO price at HK$1.95. (Hong Kong Economic Journal P4)

PetroChina (857 HK) announces that it is going to set up a joint venture with two subsidiaries of INEOS Group Holdings plc. The joint venture will be engaged in trading activities related to the crude oil refining operations located at the Grangemouth refinery in Scotland and the Lavéra refinery in France. (Sing Tao Daily B4)

Sa Sa International Holdings’ (178 HK) retail and wholesale business achieved a yoy rise in turnover of 16.8 per cent for the 3 months ended 31 Dec 2010. Retail and wholesale sales growth in HK and Macau lifted 17.5 per cent, with same store sales growth of 6.8 per cent. (Hong Kong Economic Journal P10)

Sunac (1918 HK) Dingsheng Zhidi, subsidiary of Sunac China Holdings, has acquired 2 pieces of land in Tianjin with total gross floor area of 250,000sqm at 887 million yuan. It shall pay a sum of the land transfer prices and auxiliary fees of 1.34 billion yuan. (Hong Kong Economic Journal P12)

Sumpo Food (1089 HK), which floats shares today, achieved good result in the gray market yesterday. Its shares closed at HK$0.76, 12 per cent higher than the offer price. (Sing Tao Daily B4)

Telefield International (1143 HK) plans to issue 100 million shares at between HK$1.01-1.35 each to raise 100 million-130 million. It plans to open its retail book on 14 Jan and list on 27 Jan. (Hong Kong Economic Times A10)

Retailer Trinity (891 HK) plans to place 100 million shares at between HK$7.5-7.65 each to raise 750 million-765 million. Shares closed at HK$7.95 yesterday. (Hong Kong Economic Journal P8)

Zhengzhou Gas (3928 HK) announces the change of residential estates gas pipeline construction fee collection model. Starting from Jan 7, the company will enter into a master gas pipeline construction contract directly with its customers and charge from them the entire costs related to the relevant construction works. (Sing Tao Daily B4)

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

Hong Kong Stock Market Wrap January 7th, 2011

IPO: Shanghai Jing An Bakery reportedly intends to list in HK in 3 years to raise around 2 billion yuan for business expansion. Shanghai Jin Jiang International Hotels (2006) holds 28 per cent equity interest in the company. (Hong Kong Economic Journal P5)

Brightoil Petroleum (Holdings) (933 HK) has entered into a US$4 billion 5-year strategic co-operation agreement with China Development Bank, HK Branch, whereupon the bank has been granted priority to provide financial services to the group. (Hong Kong Economic Journal P4)

Chevalier International (25 HK) acquires a unit in No 8 Kwai Hei Street, Kwai Chung, with a gross floor area of around 380000 sq ft, for about HK$686.5 million as a cold storage. (SingTao Daily B10)

China Trends Holdings (8171 HK) signs an agreement with Joy China Group to acquire 97 per cent equity interest in Dooda Innovation China at HK$228 million. (SingTao Daily B10)

CLP (2 HK) proposes to pay 4 interim dividends each year, in Jun, Sep, Dec and Mar, instead of 3 interim dividends and a final dividend. The company will be introducing the change as from the 4th interim dividend for 2010, which will be paid on or about 28 Mar 2011. (Hong Kong Economic Times A9)

Honghua Group (196 HK) expects last year’s results may record a continuing loss due to factors such as a reduction in sales and the suspension of Zhenhua project.
(SingTao Daily B10)

Longfor Properties (960 HK) posted 2010 contracted sales of 33.32 billion yuan, jumping 81 per cent yoy, 34.4 per cent higher than full-year target. (Hong Kong Economic Times A4)

Allian SE announces via an email that it has bought the shares of China Pacific Insurance (2601 HK) sold by Carlyle Group, involving an amount of about US$855 million (approximately HK$6.6 billion). (Sing Tao Daily B16)

Chun Wo Development (711 HK) announces that the Chun Wo-CRGL-MBEC Joint Venture, a collaboration between the company, China Railway Group and China Major Bridge Engineering, has secured a project valued at HK$4 billion for the Central-Wan Chai Bypass Tunnel (North Point Section). (Hong Kong Economic Times A12)

Several big banks in the UK decided to distribute huge bonuses to the management regardless political and public pressure, but HSBC (5 HK) and other four banks will undertake to increase loans and bonus disclosures. (Hong Kong Economic Journal P1)

Kaisa Group’s (1638 HK) property sales last year amounted to 10.1 billion yuan, representing a yoy increase of 68 per cent. Area sold was 875 thousand sq. m., up 27 per cent. Price per meter was 11.5 thousand yuan, up 32 per cent. (Hong Kong Economic Journal P12)

Newtree Group (1323 HK) floats shares on this Thursday. Its CEO Chum Hon Sing says that the company plans to explore the domestic market, with Beijing as the starting point. When selling products in the domestic market, prices will not be lower than selling in Europe and the US. (Sing Tao Daily P13)

PetroAsian Energy (850 HK) announces that it has entered into a petroleum product trading agreement with an independent third party who will purchase petroleum product from the group for about HK$4 billion. (Sing Tao Daily B15)

Rainbow Brothers (33 HK) announces that Mr. Ng Chi Man has tendered his resignation as a vice-chairman, executive director and chief executive officer of the company, with effect from January 10, 2011, to pursue his person goals in life. (Sing Tao Daily B15)

Wharf Holdings (4 HK) announced yesterday that it had won the bid for two land parcels in Suzhou with consideration of 2.91 billion yuan. The land parcels, with total site area of 232.4 thousand sq. m., will be used to develop high-end residential properties. (Sing Tao Daily B15)

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

Hong Kong Stock Market Wrap January 6th, 2011

Agile Property (3383 HK) posted Dec contracted sales of 6.9 billion yuan and full-yr sales of 32.3 billion yuan, up 61 per cent. (SingTao Daily B3)

Agricultural Bank (1288 HK) announced yesterday that its board of directors has passed the resolution on the issue of subordinated bonds of not exceeding 50 billion yuan subordinated bonds to raise its capital adequacy ratio. (Hong Kong Economic Times A12)

ASM Pacific’s (522 HK) shareholders approved resolution on the acquisition of SEAS business at the extraordinary general meeting held yesterday. Its shares went up 2 per cent to HK$97.95 yesterday. (Hong Kong Economic Times A10)

Beijing Airport (694 HK) announces that it has received the notice issued by the Department of Finance of the Civil Aviation Administration of China, informing it the policy of the subsidy arrangements will be retained for the period from 1 January 2011 to 31 December 2015. Its shares surged 8 per cent yesterday. (Hong Kong Economic Times A12)

Beijing Capital Land (2868 HK) booked Dec contracted sales of 2 billion yuan and for the full-year 12.5 billion yuan, up 18 per cent yoy. (SingTao Daily B3)

C C Land Holdings (1224 HK) recorded full-yr contracted sales of 5.801 billion yuan, a year on year increase of 2.4 times. (SingTao Daily B3)

China Minsheng Banking (1988 HK) announced yesterday that it plans to issue A shares to specific targets and has applied to suspend trading of its A shares and H shares on 7 Jan. No details of the issue were disclosed. (Hong Kong Economic Journal P4)

Market sources say China SCE Property (1966 HK) plans to issue RMB1b-1.5b yuan-dominated bonds. It is targeting a 5-yr maturity. Coupon rate will be around 10.5-11 per cent. (SingTao Daily B4)

China South City (1668 HK) reportedly plans to issue 5-yr notes with an interest rate of 14.25 per cent to raise US$200 million- 250 billion. (SingTao Daily B3)

Dalian Port (2880 HK) announced yesterday that its board of directors had passed the resolution regarding the offer and issue of domestic corporate bonds with an aggregate principal amount of 2.5 billion yuan to the public in the PRC. The maturity will be 10-20 years. (Hong Kong Economic Times A12)

Easyknit Enterprises (616 HK) announces, again, a right issue. It proposes to raise HK$64.2 million before expenses by way of the rights issue of 184 million shares at a price of HK$0.35 to finance its investments in hotels and serviced apartments projects. (Hong Kong Economic Journal P1)

Heritage International (412 HK) proposes to consolidate every 10 shares into 1 consolidated share and then to conduct a rights issue at HK$0.5 per rights share on the basis of 1 rights share for every 2 adjusted shares to raise around HK$45.9 million. (SingTao Daily B4)

K & P International (675 HK) expects to record a considerable rise in consolidated net profit for the year ended 31 Dec 2010, mainly attributable to an increase in sales revenue and an improved gross profit margins for products sold and a significant drop in operations expenses. (SingTao Daily B2)

A shares of Ping An Insurance (2318 HK) plunged 4.14 per cent to HK$52.59 yesterday for the news on its refinancing plan. Ping An Insurance clarified later that it had no plan to conduct any re-financing exercise in the A shares market. (Hong Kong Economic Times A3)

Last month’s sales of Powerlong Real Estate (1238 HK) reached 1.854 billion yuan. Full-yr sales totalled 6.2 billion yuan, up 1.14x. (SingTao Daily B3)

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

Hong Kong Stock Market Wrap January 5th, 2011

Alltronics Holdings (833 HK) expects 2010 net profit to increase at least 50 per cent on an increase in sales revenue and improved gross profit margins for products sold. (SingTao Daily B4)

Asian Citrus Holdings (73 HK) was notified on Tue that 2 subsidiaries of Temasek Holdings have subscribed for 61.126 million and 4 million new shares respectively, 5.37 per cent in total of the company's issued share capital. (SingTao Daily B4)

China COSCO (1919 HK) announces that the company is expected to have a significant growth in results and record a net profit last year, as compared to a net loss for 2009, due to the sustained recovery of the world economy and the regain of growth momentum in the shipping market. (Hong Kong Economic Journal P.7)

CQRC Bank (3618 HK) announces that the over-allotment option in respect of an aggregate of 327.8 million H Shares, representing approximately 15 per cent of the offer shares initially available under the global offering before any exercise of the over-allotment option, has been fully exercised yesterday. (Hong Kong Economic Times A10)

Country Garden (2007 HK) announces the amendment and restatement of equity swap agreement with Merill Lynch. After the amendments, the final termination date will be 22 February 2013 and the company has the right to terminate the agreement on any day before the final termination date. (Hong Kong Economic Journal P.9)

Easyknit Enterprises (616 HK) proposes a rights issue at HK$0.35 per rights share on the basis of 1 rights share for every 2 shares to raise HK$64.2 million. (SingTao Daily B4)

Glorious Property (845 HK) announces that contracted sales last year amounted to 12.68 billion yuan, representing yoy growth of 89.1 per cent, which was not up to the target of 15 billion yuan set at the beginning of the year. (Hong Kong Economic Times A10)

Henderson (12 HK) sold about 80 apartments in Beverly Hills and Légende Royale, both located in Tai Po, last year for HK$2.2 billion. The company plans to raise the prices of the apartments with 3000-4000 sq.m. by 5-7 per cent shortly. (Hong Kong Economic Journal P.9)

Huaneng International (902 HK) announces that it would acquire 100 per cent shareholding in a hydropower project located at Suzihe River, Liaoning for 50 million yuan. The project, with a planned hydropower capacity of 37.5 MW, is under construction and expected to commence operation by the end of 2011. (Hong Kong Economic Journal P.7)

Kerry Properties (683 HK) and Shangri-la jointly announce that they, together with WCA Pte. Limited listed in Singapore, have won the land bids at the public biddings to acquire the land use rights of the Project Sites in Liaoning Province at 1.357 billion yuan. The shareholdings of Kerry Properties, Shangri-la and WPL will be 40per cent, 25per cent and 35per cent respectively.
(Hong Kong Economic Journal P.9)

Lee & Man (746 HK) expects to book a substantial rise in profit for 2010. It also proposes to spin off its handbag business by distributing in specie to existing shareholders and has submitted a proposal to the exchange. (SingTao Daily B4)

RCG Holdings (802 HK) has agreed to allot and issue to an independent third party Stanley Chan Pan Chen 6.45 million new shares at HK$3.1 a share, raising almost HK$20 million to fund research and development activities. (SingTao Daily B5)

SIM Technology Group (2000 HK) has obtained the required approvals in relation to an offering and listing of TDRs. The tentative offer price for each TDR is around HK$1.48 per share. (SingTao Daily B4)

SOHO China (410 HK) posted contract sales of about 5.5 billion yuan in Q410. 2010 contract sales was around 23.8 billion yuan, a yoy growth of 82 per cent. (SingTao Daily B4)

Solartech International (1166 HK) has entered into a MOU, planning to acquire rare earth mining rights in Mongolia. The company plans to buy mining and exploration licences in respect of certain rare earth mining sites in Sondiin Am, Bayantsagaan soum, Tov province, Mongolia. (SingTao Daily B4)

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

Hong Kong Stock Market Wrap January 4th, 2011

BYD (388 HK) announces that the sales volume last year was 520 thousand, representing only 87 per cent of the full-year target, worse than market expectations. BYD set the car sales target at 800 thousand at the beginning of last year and slashed the target to 600 thousand in July. (Hong Kong Economic Journal P.6)

CEA (670 HK) issued the first positive profit alert this year. Its unaudited net profit last year leaped 10 times to 5.4 billion yuan, better than market expectations. (Hong Kong Economic Times A10)

China Gas (384 HK) announces that Liu Ming Hui and Huang Yong have been detained for investigation by the Shenzhen PSB since 18 December 2010 for suspected “embezzlement of the assets of an organisation in which they have duties”. (Hong Kong Economic Times A10)

China National (1893 HK) Materials appoints vice chairman Li Xinhua as the president in substitution of Zhou Yuxian. (SingTao Daily B2)

China New Town Development (1278 HK) announces that a land parcel in Shanghai for residential and commercial use had been listed by The Shanghai Municipal Bureau of Planning and Land Resources last Fri. The auction is expected to be completed on 21 Jan. (SingTao Daily B2)

China Solar Energy (155 HK) agreed yesterday after trading hours to issue 1.42 billion shares at HK$0.114 apiece to not fewer than 6 subscribers to raise around HK$161.8 million. (SingTao Daily B2)

China South City (1688 HK) announces that it proposes to conduct an international offering of senior notes issue targeted to certain qualified institutional investors in Asia, Europe and the United States, with UBS and BOC International to be joint lead managers and joint bookrunners. (Hong Kong Economic Journal P.10)

Country Garden (2007 HK) announces that Cui Jianbo has tendered resignation as an executive director of the company with effect from 20 January due to other personal commitments. (Hong Kong Economic Journal P.10)

Dragon Hill Wuling Automobile (305 HK) proposes an open offer on the basis of 1 offer share for every 6 shares at a price of HK$0.9 an offer share to raise HK$150 million to 159 million. (SingTao Daily B2)

Guangdong Tannery (1058 HK) proposes to reduce the credit standing to the share premium account to the extent of HK$393 million and to apply the credit arising from the reduction to eliminate accumulated losses by the same amount. (SingTao Daily B2)

Harbin Power Equipment (1133 HK) has signed subscription letters to purchase 200 million shares of A-shares publicly additionally-issued by GD Power Development at 3.19 yuan per share and 100 million shares of A-shares directionally additionally-issued by Huaneng Power International (0902) at 5.57 yuan per share. (SingTao Daily B2)

Yesterday, Nomura first assigned “buy” rating to HKR International (480 HK) with target price of HK$8, leading HKR to soar 24.7 per cent and close at HK5.25 which was the new high in 52 weeks. (Hong Kong Economic Times A2)

Soundwill (878 HK) chairman Foo Kam Chu Grace has placed 2 million existing shares to institutional investors including ASM River Fund at HK$9.5 a share. (SingTao Daily B2)

United Laboratories (3933 HK) announced yesterday that China State Food and Drug Administration had approved three insulin finished products which would be launched to the market soon. (Hong Kong Economic Times A10)

Varitronix International (710 HK) expects last year’s net profit to increase significantly due to an increase in sales and gains on the trading securities of the group. (SingTao Daily B2)

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

Hong Kong Stock Market Wrap January 3rd, 2011

IPO: Market sources say New China Life Insurance plans to list in HK in Q2 at the earliest and the insurer will submit listing application in March. (SingTao Daily B2)

IPO: Prada reportedly may postpone its listing plan in HK. It is said that it needs to adjust its share capital structure to meet listing requirement. (SingTao Daily B2)

China Railway (390 HK) has agreed to purchase from CRECG and Hongda a property at No.36 Fengbei Road, Fengtai District, Beijing at an consideration of 177.7 million yuan. The property was leased by Yanfeng Hotel last year at an annual leasing fee of around 2.54 million yuan. (SingTao Daily B2)

China Water Affairs (855 HK) announces that it entered into an agreement last Thu to acquire 70 per cent equity interest in Jian Water Supply at a consideration of almost 130 million yuan. (SingTao Daily B2)

Fook Woo Group (923 HK) has appointed Cheng Chi Ming, Brian, a grandson of Cheng Yu Tung, as a non-executive director and a member of the Audit Committee and Pei Cheng Ming, Michael as a non-executive director and a member of both the Nomination Committee and Remuneration Committee. (SingTao Daily B2)

Golden Meditech’s (801 HK) application for the offering of Taiwan Depositary Receipts was approved by the Taiwan Stock Exchange and the Taiwan Securities and Futures Bureau. Golden Meditech plans to offer 90 million units of TDR, involving 180 million ordinary shares of Golden Meditech. (Hong Kong Economic Journal P.5)

Greentown China (3900 HK) announces the acquisition of 30 per cent of the equity interests in 杭州遠洋萊福房地產開發有限公司 (Hangzhou Sino-Ocean Laifu Land Limited) from vice chairman Luo Zhaoming for a total consideration of HK$68.4 million. (Hong Kong Economic Journal P.10)

HKEx (388 HK) announces that Eric Yip, who was promoted to Deputy Chief Operating Officer in July last year, has tendered his resignation letter and will leave his current position from March to join investment management industry. (Hong Kong Economic Journal P.7)

Huaneng Power International (902 HK) announces that its parent has acquired over12.8 million A shares of the company last Fri, 0.09 per cent of the total issued share capital. It proposes to continue the acquisition of the A Shares of the company within the next 12 months, with the aggregate of such acquisition not exceeding 2 per cent of the issued share capital. (SingTao Daily B2)

Hutchsion Whampoa (13 HK) announced yesterday the acquisition of 10 per cent equity interests in Hongkong International Terminals and Hutchison Ports Yantian Investments and other assets from CRH at HK$5,700 million. Its shares soared 5.3 per cent yesterday. (Hong Kong Economic Times A2)

Nam Hing (986 HK) entered into a letter of confirmation with a placing agent at the end of last year to extend the date of fulfillment of the conditions precedent to placing of CBs to 31 Mar 2011. As it has issued convertible notes in the principal amount of HK$99 million already, the proceeds will be applied for general working capital. (SingTao Daily B2)

Shenzhen Dongjiang Environmental (895 HK) proposes a share consolidation on the basis of every 10 ordinary shares with a nominal value of 0.1 yuan each in the issued or unissued share capital be consolidated into 1 ordinary share with a nominal value of 1 yuan each. (SingTao Daily B2)

Shimao Property (813 HK) announces that Xu Younong has been appointed as an executive director and Ip Wai Shing, Andy has resigned as an executive director due to re-allocation of internal job duties, both with effect from 1 January 2011. (Hong Kong Economic Journal P.10)

HK stock market surged 400 points on the first trading day, bringing good market sentiment and leading both Sumpo Food (1089 HK) and KEE (2011) to record oversubscription yesterday. Sumpo Food is 6.5x oversubscribed. (Hong Kong Economic Journal P.2)

Yuexiu Property (123 HK) announces the acquisition of a land parcel with a total gross floor area of approximately 514 thousand sq.m. in Qiaokou, Wuhan City, Hubei Province at a consideration of 2.82 billion yuan. (Hong Kong Economic Journal P.10)

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

Hong Kong Stock Market Wrap December 31st, 2010

Bank of Communications (3328 HK) said yesterday that it planed to issue Renminbi denominated bonds of 20 billion yuan in Hong Kong in the coming two years, up to 10 billion yuan of which will be issued this year. (Sing Tao Daily B10)

China New Economy (80 HK) announces it will float its shares in main board by way of placing. The placing price is HK$1.03 per share, with board lot size of 100 thousand shares. (Sing Tao Daily B10)

China New Town (1278 HK) announces that Chengdu Shanghai Real Estate Company Limited, a subsidiary of Shanghai Golden Luodian Development Ltd which is in turn a non-wholly owned subsidiary of the company, has entered into an agreement with Chengdu Land Bureau to acquire the land parcels of Sanguan Village, Hongguang Town in Pi County with a consideration of 446.53 million yuan. (Hong Kong Economic Journal P.5)

Franshion Properties (817 HK) announces that it has obtained 3-year term loan facilities of US$30 million (about HK$234 million) and HK$400 million respectively from RBS Hong Kong and Standard Chartered Hong Kong for financing the general corporate funding requirements of the group. (Hong Kong Economic Journal P.5)

PetroChina (857 HK) disposes entire equity interests in Petrochina Guangxi Oil Storage Limited to its parent company at 2.113 billion yuan. PetroChina is expected to have a gain of 106 million from the deal. (Sing Tao Daily B10)

Bauhaus International says turnover was 55 million during the first 22 days last month, up almost 30 per cent yoy. Customers spent HK$1600 on average, up 14 per cent yoy. (SingTao Daily B15)

Guangzhou R&F Properties (2777 HK) reported 2010 contracted sales of 32.246 billion yuan, up 33 per cent yoy, exceeding full-yr sales target. Among which, contracted sales in Guangzhou was 9.348 billion yuan. (Hong Kong Economic Times A11)

The number of people visited the 2 Sogo stores of Lifestyle International (1212 HK) during the first 25 days of Dec saw a yoy single-digit growth, 30 per cent of which are mainland visitors. (SingTao Daily B15)

Natural Dairy (NZ) (462 HK) says Overseas Investment Office has declined consents to applications for acquiring UBNZ Assets as not all relevant criteria for consent under the Overseas Investment Act 2005 have been met. (SingTao Daily B14)

Regal Hotels International (78 HK) says during Christmas holiday average room price was over HK$1000, a yoy double-digit growth. Occupancy rate was 100 per cent. (SingTao Daily B15)

Shimao Property (813 HK) posted 2010 contracted sales of 30.5 billion yuan, up 36 per cent yoy, meeting the 30 billion yuan target. Contracted sales area was 2.53 million sqm. Average price rose to 12000 yuan per sqm. (Hong Kong Economic Journal P9)

Sino-Ocean Land (3377 HK) has agreed to sell 49 per cent of the issued share capital of Poly Link to Greentown China (3900) and Zhejiang Railway Group for 1.846 billion yuan. Greentown will get 24.5 per cent at a consideration of 923 million yuan. (Hong Kong Economic Times A11)

There were 6.2 million people visited the 12 malls of Sun Hung Kai Properties (16 HK) during 24-27 Dec, up 20 per cent yoy. (SingTao Daily B15)

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

Hong Kong Stock Market Wrap December 30th, 2010

According to the HKEx, fund Wellington bought 10.18 per cent stake in Changsha Zoomlion (1157 HK) at HK$15.364 per share on average on the shares’ debut. Shares rose 5.19 per cent yesterday to end at HK$17.44 each. (Hong Kong Economic Times A8)

China Communications Construction (1800 HK) proposes to issue not more than 3.5 billion A shares, which will represent 19.1 per cent of the enlarged issued share capital. The issue is subject to the approval from the CSRC. (Hong Kong Economic Journal P4)

CEA (670 HK) announces that it has entered into an agreement in respect of the purchase of fifty Airbus A320 series aircrafts. The basic price of those aircrafts in aggregate is approximately USD3.224 billion (equivalent to approximately 21.407 billion yuan) based on the relevant price catalog. (Sing Tao Daily B2)

Carlyle sold 216 million shares of China Pacific Insurance (2601 HK) for HK$6.728 billion, HK$31.15 per share, immediately after lockup period. Share price of CPI was not affected yesterday, closing at HK$32.1, up 2.39 per cent. (Sing Tao Daily B1)

China Ting Group (3398 HK) announces that Hangzhou China Ting Property has been approved to be established on 24 Dec. It is held as to 49 per cent by Zhejiang China Ting and 51 per cent by Zhejiang Huading Property. Total investment amount is 40 million yuan. (Hong Kong Economic Journal P6)

According to the information of Hong Kong stock exchange, Emperor Watch & Jewellery’s (887 HK) major shareholder, Yeung Sau Shing, acquired 900 thousand shares on Dec 24, increasing his shareholding to 61.83 per cent. (Sing Tao Daily B2)

Haier Electronics (1169 HK) announced yesterday that it acquires 51 per cent equity interest in Yantai Goodaymart from Henan Goodaymart at the consideration of 18.8 million yuan. It also announced that it and 山東久聯貿易有限公司 (Shandong Jiu Lian Trading Limited) contributed 10.2 million yuan and 9.8 million yuan respectively to establish a joint venture company, Shandong Goodaymart. (Sing Tao Daily B2)

Kaisa Group (1638 HK) posted full-year sales area of 867,300 sqm and sales income of 10.104 billion yuan, up 26.8 per cent and 67.1 per cent yoy respectively. (Hong Kong Economic Journal P6)

KEE Holdings’ (2011 HK) offer price is HK$1.33 per share. Maximum offer price a lot is HK$2686.81. 60 per cent of the proceeds will be invested in a newly built plant in Hubei. The company expects the new plant to come on stream in 2012. The company’s major clients include Li Ning (2331). (Hong Kong Economic Times A8)

King Stone Energy (663 HK) has agreed to allot and issue 500 million shares to Chinarise Financial and Success Business Holdings separately at HK$0.21 per share to raise around HK$208 million. (Hong Kong Economic Journal P5)

Luoyang Glass (1108 HK) announces its plan of reducing the number of employees by 1,500. It is estimated about 75 million yuan need to be paid as economic compensation. (Sing Tao Daily B2)

Market sources say Newtree Group’s (1323 HK) international placing was well received and was oversubscribed 2-3 times so far. The shares will be listed in Hong Kong on 13 Jan. (Hong Kong Economic Journal P5)

Soho China (410 HK) announces that is has entered into an acquisition agreement with 北京中冠房地產開發有限公司 (Beijing Zhong Guan Real Estate Development Company Limited) to acquire 中冠大廈項目 (Zhong Guan Building Project) located at ZhongGuanCun, Haidian District, Beijing with consideration of 1.155 billion yuan. (Sing Tao Daily B2)

Vale S.A., (6210 HK) the first HDR in HK, announces that it will distribute an extraordinary dividend of US$1 billion, i.e., about HK$1.49 per each HDR in HK. (Sing Tao Daily B2)

Warderly (607 HK) announces that its net profit for the half year ended Oct 31 rose 0.05 per cent to HK$3.43 million, with earnings per share of HK1 cent. No interim dividend is to be distributed. (Sing Tao Daily B2)

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

Hong Kong Stock Market Wrap December 29th, 2010

David Webb bought 240,000 shares in Bauhaus International (483 HK) at HK$3.104 each on average on 23 Dec, taking his shareholding in the company to 18.092 million shares, around 5.03 per cent interest in the company. (Hong Kong Economic Times A10)

BYD (1211 HK) announced yesterday that the company might not be able to realize the sale target of 600 thousand. The full-year sales is expected to be 520-550 thousand, 8.3-13.3 per cent lower than the target. (SingTao Daily B1)

Price of rare earth is expected to go up due to China’s intention of limiting the export quota of rare earth. China Rare Earth (769 HK) shares rose 16 per cent yesterday. (SingTao Daily B1)

CRC (1313 HK) announces that its wholly owned subsidiary Resources Cement Investments and 山西華寶焦化集團有限公司(Shanxi Huabao Jiaohua Group Limited), an independent third party, have established 華潤水泥（長治）有限公司 (China Resources Cement (Changzhi) Limited) in China. The business scope of the joint venture is the production and sale of cement products. (SingTao Daily B2)

Citigroup (489 HK) expects automobile sales in the mainland next year can still grow by 15 per cent yoy. It recommends Dongfeng Motor Group shares, setting a HK$20.75 price target for the shares. (Hong Kong Economic Times A10)

CLSA (3389 HK) expects retail sales in Hong Kong during Christmas to be better than expected, setting a Buy rating on Hengdeli Holdings. Shares closed at HK$4.57 each yesterday. (Hong Kong Economic Times A3)

Infinity Chemical (640 HK) announces that it recorded a net profit of HK$17.05 million for the year ended 30 September 2010, down 43.8 per cent yoy, with earnings per share of HK4.1 cents. (SingTao Daily B2)

Kerry Properties (683 HK) and Shangri-La (0069) announce that they have entered into a joint bid agreement with a Singpore company WCA Pte. Ltd. with intention to bid the land located at Laobian District, Yingkou City, Liaoning Province. (SingTao Daily B2)

MMC (975 HK) announces its indirect wholly-owned subsidiary Enrestechnology has entered into CHPP Contract with Sedgman, whereby Sedgman agrees to provide engineering services to MMC in connection with the expansion of the second phase of the CHPP from 5.0 Mtpa to 10 Mtpa. (SingTao Daily B2)

MTR Corporation (66 HK) CEO Chow Chung-kong announced yesterday that he will retire when his current contract as the CEO expires on 31 Dec 2011. Chow has been the CEO since Dec 2003. (Hong Kong Economic Times A8)

Newtree Group Holdings (1323 HK) reportedly plans to offer 190 million shares at between HK$1.85 and 2.26 a share. Maximum offer price a lot of 2000 shares is HK$4565.56. The shares will be listed on 13 Jan. (Hong Kong Economic Journal P2)

The iron ore and gold placer of North Asia Resources (61 HK) located in Mongolia will commence production in April next year. Mr. Tse Michael Nam, Deputy Chairman and Acting Chief Executive Officer, expects the company to record net cash inflow next year. (SingTao Daily B2)

PICC Property (2328 HK) and Casualty announced yesterday that it would form a consortium with PICC Group and four subsidiaries to bid a property located in West Chang’an Avenue, Beijing for offices and commercial uses at 3.288 billion yuan, 1 billion of which will be contributed by the company. (SingTao Daily B2)

Sumpo Food Holdings (1089 HK) plans to list in Hong Kong on 11 Jan, planning to offer 400 million shares at between HK$0.6 and 0.8 per share. Maximum offer price a lot of 5000 shares is HK$4040.32.(Hong Kong Economic Journal P2)

The brand Colourmix of retailer Veeko International (1173 HK) enjoyed a 18 per cent growth in same store sales in Hong Kong and Macau during the 4-day Christmas holiday from 24-27 Dec. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap December 28th, 2010

IPO: China 33 Media plans to list on the GEM board in mid-January next year, with Daiwa as sponsor. The company's dividend payout ratio is 30 per cent. (Hong Kong Economic Journal P4)

IPO: Newtree Group plans to open its retail book on 31 Dec and list on the bourse on 13 Jan. Its chairman says the group’s major clients include Stenqvist AS, HPC Healthline UK and Spectrum Bags. (Hong Kong Economic Journal P4)

Ho Yau Lung, Lawrence announced yesterday that he plans to spend HK$200 million to buy stake in Arnhold Holdings (102 HK). According to the announcement, Ho bought around 176 million shares in Arnhold Holdings at HK$1.168 per share on 20 Dec. (Hong Kong Economic Times A8)

Bank of China (3988 HK) entered into “Comprehensive Business Cooperation Agreement” with Taiwan Cooperative Bank, the second largest bank in Taiwan, in Beijing yesterday. (SingTao Daily B2)

Boshiwa (1698 HK) continued to fall due to the share pledge by the controlling shareholder to get a loan. Its share price closed at HK$5.69 yesterday, down 11 per cent, which was the lowest since its listing. (SingTao Daily B1)

In view of the recent stock market conditions, Celestial Asia Securities (1049 HK) and its placing agent have agreed to terminate a placing plan. Shares of the company closed at HK$0.67 yesterday, down almost 3pc. (Hong Kong Economic Journal P2)

China Mengniu Dairy (2319 HK) founder Niu Gen Sheng has transferred all his 14.07 per cent interest in China Mengniu to Hengxin. Shares of the company ended at HK$20.5 each yesterday. (Hong Kong Economic Times A8)

China Railway (390 HK) announced that it succeeded in the bid for 16 projects, involving about 20.53 billion yuan, accounting for approximately 5.93 per cent of its turnover in 2009. (SingTao Daily B2)

71.66 per cent of CR (1313 HK) Cementand shareholders voted for the cross-lending scheme and 92.99 per cent of CR Microelectronics (0597) investors gave their nod of approval yesterday. (SingTao Daily B3)

Rumours spread that GOME Electrical Appliances (493 HK) chairman Chen Xiao resigned on 26 Dec. 2 board directors say they have not heard of the news. (Hong Kong Economic Times A8)

Following the successful bidding for the land located at Shanghai and Dalian, Hutchison Whampoa (13 HK) won the bid for a land in Nanjing at the consideration of 3.1 billion yuan which was the highest premium in the district. (SingTao Daily B2)

Lenovo Group (1088 HK) is currently the fifth-largest supplier of personal computers in Russia. Personal computers delivered by Lenovo Group in the third quarter accounted for a market share of 8.3 per cent. (SingTao Daily B3)

New World Department Store (825 HK) agreed to sell certain portions of the first floor to the third floor of the property located at No. 341, Zhongshan Road, Chong An District, Wuxi City, Jiangsu at the consideration of 385 million yuan. (SingTao Daily B2)

Sandmartin (482 HK) announced it had confirmed the sales orders of headend equipment and set top box with Heng Xin China Holdings Limited (8046). Those products will be distributed in Hunan and other areas. The revenue is approximately 392 million yuan. (SingTao Daily B2)

BEA China, subsidiary of the BEA (23 HK), has opened a branch in Zhengzhou, Henan and a sub-branch in Zhaoqing, Guangdong, taking its total number of outlets on the mainland to 90 outlets. The BEA Group opened its 1st mainland branch in Shanghai in 1920. (Hong Kong Economic Journal P6)

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

Hong Kong Stock Market Wrap December 27th, 2010

Enerchina (622 HK) announces the disposal of entire interests in 深圳福華德電力有限公司 (Shenzhen Fuhuade Electric Power Co., Ltd.*), at the consideration of 1.038 billion yuan. (Sing Tao Daily B9)

Longfor Properties (960 HK) announces that Longfor Chongqing, an indirect 91.3% owned subsidiary of the company, succeeded in the bid for the Land in Beijing at an aggregate price of 3.48 billion yuan. (Hong Kong Economic Times A8)

TCL Communication (2618 HK) announced yesterday that it planned to issue TDR to raise money for the purposes of expanding plants, purchasing equipments and extending production capacity. (Hong Kong Economic Times A8)

China Gas (384 HK) announced suddenly that Mr. Liu, the managing and executive director, and Mr. Huang, the executive president were escorted away by certain individuals who claimed that they represented the Shenzhen Municipal Public Security Bureau in the PRC on 17 December 2010 from the company’s office in Shenzhen. (Sing Tao Daily B4)

Boshiwa (1698 HK) announced yesterday that its holding company pledged 100 million shares to Swiss Bank for a loan of US$20 million. (Hong Kong Economic Times A2)

Lenovo Group ‘s (992 HK) parent company Lenovo Holdings plans to invest 16 billion yuan in the coming two to three years for merger and acquisition, aiming to go listing. (Sing Tao Daily B5)

National Arts (8228 HK) invested 300 million for the project in a project in Foshan in mid-November. It will start to construct a theme park at the end of this month. (Sing Tao Daily B5)

China Coal (1898 HK) announces that Mr. Wang An and Mr. Wang An have been elected as the chairman and the vice chairman of the board respectively with immediate effect. (Sing Tao Daily B3)

China Construction Bank (939 HK) announces that it has entered into an agreement with ING to acquire 1 per cent been the successful bidder of 50 per cent equity interest in Pacific-Antai Life Insurance. Upon the trasaction, it will hold 51 per cent of Pacific-Antai Life Insurance. (Hong Kong Economic Times A9)

Minsheng Bank (1988 HK) announced yesterday that CBRC approved its issuance of yuan sub bonds of not more than 10 billion last Friday. (Sing Tao Daily B2)

China Power (2380 HK) will set up two joint ventures, Digua Coal Industry and Pu’an Power to invest in coal industry and power plant. Digua Coal Industry will invest, construct and operate the No.1 Digua project while Pu’an Power will invest, construct and operate the power plant project. (Sing Tao Daily B3)

CSR Corporation (1766 HK) announces that it and CSRG will renew the Product Mutual Provision Framework Agreement on 31 December 2010 for an effective term from 1 January 2011 to 31 December 2013. (Hong Kong Economic Journal P.4)

Huayu Expressway (1823 HK) announces that it will lease the Yueyang service area of Sui-yue Expressway (Hunan Section) to Sinopec Hunan for a term of 5 years for an aggregate rental payment of 140 million yuan. (Sing Tao Daily B3)

Kunlun Energy (135 HK) is the successful bidder for its parent company’s 60% equity interest in PetroChina Beijing Gas Pipeline in the open tender conducted on the China Beijing Equity Exchange with 18.87 billion yuan. (Hong Kong Economic Journal P.4)

Li Ning (2331 HK) declared yesterday that it would integrate 500-600 ineffective distributors instead of closing shops. It said that the target number of shops in 2010 and 2011 remained unchanged. (Hong Kong Economic Times A9)

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

Hong Kong Stock Market Wrap December 23rd, 2010

Asia Cement’s (743 HK) interim net profit drops 65 per cent to only 168 million yuan due to the excessive production of cement in Sichuan. Its CEO Mr. CHANG Tsai-hsiung said that the price of cement rebounded in the second half of the year, so the full-year net profit was expected to drop not more than 20 per cent. (Hong Kong Economic Journal 4)

Zoomlion Heavy (1157 HK) opened high yesterday and closed at HK$16.18, 8.01 per cent higher than the IPO price of HK14.98, representing a gain of HK$240 per board lot (200 shares). (Hong Kong Economic Times A10)

China Gogreen (397 HK) says the rights shares validly accepted and applied for represent only 43.54 per cent of the total number of rights shares offered. The issue was under-subscribed by 3.459 billion rights shares. (SingTao Daily B2)

China National Materials (1893 HK) announces the resignation of Mr. Zhou Yuxian as the executive director and president as well as his positions in the strategy committee and nomination committee of the board of directors due to work re-designation pursuant to the arrangement by the State-owned Assets Supervision and Administration Commission of the State Council, with effect from this Wednesday. (Hong Kong Economic Journal 4)

China Railway Group (390 HK) plans to issue yuan bonds of a principal amount not exceeding the equivalence of 19 billion yuan with a term not exceeding a year in single or multiple tranches. (SingTao Daily B2)

Chongqing Iron & Steel Company (1053 HK) decides to invest in 2 projects of its parent. It will invest 730 million yuan in total. (SingTao Daily B2)

Hengxin Technology (1085 HK) closed at HK$2.22, 1 per cent lower than IPO price. Not taking charges into account, shareholders suffered a paper loss of HK$60 for a lot. (SingTao Daily B1)

Daiwa (388 HK) maintains an Outperform rating on Hong Kong Exchanges and Clearing, setting a HK$216 price target for the bourse, a 23 per cent premium to yesterday’s closing price. (SingTao Daily B1)

HSBC (5 HK) ANNOUNCES SENIOR MANAGEMENT MOVEMENT HSBC announced yesterday the appointment of Alan Keir, currently global co-head of Commercial Banking and head of Commercial Banking Europe, as the global head of commercial banking with effect from 1 January 2011. (Hong Kong Economic Journal 4)

ICBC (1398 HK) announces the results of the H share rights issue. It has received valid acceptances in respect of 3.702 billion rights shares and applications in respect of 28.663 billion rights shares, representing approximately 766.89% of the total number of H rights shares. (Hong Kong Economic Times A10)

Ming Kei Holdings (8239 HK) proposed a bonus issue on the basis of 1 bonus share for every 1 existing share as a token of gratitude to shareholders for loyalty to and support of the company and to enhance the liquidity of shares. (SingTao Daily B2)

Pan Asia Mining (8173 HK) proposes a consolidation of every 50 issued and unissued shares into 1 consolidated share and then to raise not less than HK$380 million by way of a rights issue at a subscription price of HK$0.5 per rights share on the basis of 5 rights shares for every 1 consolidated share. (SingTao Daily B2)

Sino-Ocean Land (3377 HK) intends to establish a joint venture with Super Goal, a member of the NF Group, for the commercial property development project located at CBD area in Chaoyang District, Beijing. (Hong Kong Economic Times A10)

Mikhail Prokhorov (486 HK), a major shareholder of United Company Rusal, said the value of United Company Rusal could rise at least 50 per cent once it agrees to sell its interests in Norilsk. (Hong Kong Economic Times A10)

Unity Investments Holdings (913 HK) announces that as at 17 Dec, the total valid acceptances and applications received represented about 84.55 per cent of the total number of rights shares available. The untaken rights shares represented around 15.45 per cent of the total number of rights shares available for subscription. (SingTao Daily B2)

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