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
