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
