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
