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
