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
