China System Holdings Limited (867 HK) announced its results for the year ended 31 December 2010. The company recorded profits attributable to shareholders of the company of US$30.59 million, a year-on-year increase of 47.9 percent. (Hong Kong Economic Journal P5)
China Modern Dairy (1117 HK) posted its first business results since its IPO in Hong Kong. The company announced its interim results for the six months ended 31 December 2010, with profit and total comprehensive income attributable to owners of the company at HK$71,297,000, compared to the total HK$19,185,000 for the same period last year. (Hong Kong Economic Times A12)
Citic Telecom International (1883 HK) announced that the company saw a net profit of HK$401 million for the year ended 31 December 2010, or up 8 percent from the previous year. Basic earnings per share decreased by 4.8 percent to HK$17.9 cents. (Sing Tao Daily B13)
G-Resources Group Limited (1051 HK) announced its interim results for the period of six months ended31 December 2010.The loss for this period was recorded at US$8.87 million (approximatelyHK$69 million). (Sing Tao Daily B13)
Inspur International Limited (596 HK) announced that the company might see a significant decline in the consolidated results for this year against the results for the same period last year. The decline mainly due to the increase in expenses on research and development and marketing inputs in order to maintain the company's competitiveness. (Sing Tao Daily B13)
TCL Communications Technology Holdings Limited announced that the company saw a total of HK$8.7 billion in revenue for the year ended 31 December 2010, or 100 percent of increase on a year-on-year basis. The gross profit margin was 22.4 percent, or up 0.6 percent. (Sing Tao Daily B13)
Tianyi Fuit Holdings Limited (756 HK) intends to complete an acquisition in months'time. The company plans to improve the production capacity of its frozen concentrated orange juice by 25 percent. Details of this acquisition have not yet to be settled. (Hong Kong Economic Journal P5)
China Kangda Food Company (834 HK) recorded net profit of 3.38 million yuan for the year ended 31 December 2010, down almost 89 per cent. EPS amounted to 0.8 RMB cent. It did not recommend any payment of dividends. (SingTao Daily B19)
China Leason Investment (8270 HK) has agreed to place around 326.83 million shares at a price of HK$0.225 per share. The maximum net proceeds of HK$71.21 million will be used for the existing joint venture investment and general working capital. (Hong Kong Economic Journal P8)
The market in general expects HSBC Holdings’ (5 HK) 2010 net profit to be US$13.9 billion, surging almost 1.39 times yoy. Some securities firms tip that its full-year dividend may be 36 or 39 US cents each. (Hong Kong Economic Journal P1)
Shanghai Industrial (363 HK) announces that its subsidiary S.I. Urban Development has agreed to sell part of its interest in a site and hotel in Shanghai for a total of 3.604 billion yuan. The site is located at Zhujiajiao Town, Qingpu District. The hotel is the Four Seasons Hotel Shanghai (上海四季酒店) at Jing An District. (Hong Kong Economic Journal P4)
Morgan Stanley expects Sun Hung Kai Properties’ (16 HK) interim core net profit to jump 61 per cent yoy to HK$9.9 billion, giving it an Overweight rating and HK$155 price target. (Hong Kong Economic Times A10)
The Hong Kong Building and Loan Agency (145 HK) has agreed to acquire the entire issued share capital of Weldtech Technology at a total consideration of HK$2.8 billion. Trading in its shares will resume today. (SingTao Daily B19)
Trony Solar (2468 HK) booked net profit of 260 million yuan for the 6 months ended Dec 31, 2010, up 46 per cent year-on-year. Revenue was 900 million yuan, up 53.4 per cent year-on-year. It resolved not to declare any interim dividend. (Hong Kong Economic Times A11)
Xinjiang Goldwind Science & Technology (2208 HK) says, based on a review of its unaudited management accounts, its earnings for the year ended 31 Dec 2010 has increased substantially. (Hong Kong Economic Times A11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, February 28, 2011
Friday, February 25, 2011
Hong Kong Stock Market Wrap Feburary 24th, 2011
IPO: It is reported that Prada will list in HK in Jun at the earliest and it intends to issue 15-20pc existing shares. Sponsors reportedly included Goldman Sachs and UniCredit. (Hong Kong Economic Journal P10)
AIA Group (1299 HK) will announce its results today. Its profit after tax was tipped to be around US$2.03 billion, a yoy increase of 16 per cent. (Hong Kong Economic Times A12)
China Animal Healthcare (940 HK) saw profit down 24 per cent to 120 million yuan for the year ended 31 December 2010. Its shares wend down to HK$1.9 each yesterday. (Hong Kong Economic Times A12)
China Medical System Holdings Ltd (867 HK) posted net profit of US$30.6 million for the year ended 31 December 2010, which represents an increase of 47.9 per cent year-on-year. It recommended a final dividend of US1.3 cents per ordinary share. (Hong Kong Economic Journal P11)
China Minsheng Banking Corp. (1988 HK) announced that the trading in the A shares and H shares of the company has been suspended with effect from 25 February 2011 pending the release of an announcement by China Minsheng Banking Corp. in relation to price sensitive information. (Sing Tao Daily B2)
CLP Holdings (2 HK) recorded business earnings for the last year, with HK$10.33 billion in profits, or up 26 percent, and earnings per share were HK$4.29. The company intends to expand Indian business and considers the spin-off of its Indian business when business there matures. (Sing Tao Daily B2)
Hopewell Highway Infrastructure (737 HK) booked net profit of HK$491 million for the 6 months ended 31 Dec 2010, down 2.57 per cent yoy. Interim dividend of HK16 cents per share was declared. (Hong Kong Economic Journal P11)
Without new properties taken into account, Hopewell Holdings’ (54 HK) profits attributable to the owners of the company dropped by 31 percent to HK$1.73 billion. (Sing Tao Daily B2)
International Elite Ltd. (1328 HK) announces that the company may record a significant loss for 2010 mainly due to a potential impairment charge of the goodwill arising from the acquisition of the interests in Sunward Group. (Sing Tao Daily B4)
King Stone Energy Group Limited (663 HK) announced that the company entered into a strategic framework agreement with China Railway Energy. The two companies agreed to build a strategic alliance for the development of energy and coal-related logistics in Mainland China. (Sing Tao Daily B4)
New Media Group Holdings Limited (708 HK) announced the interim results for the six months period ended 31 December 2010. The company recorded HK$32 million in profit attributable to shareholders, or a year-on-year increase of 18 percent, with earnings per share were HK cents 4.89.
(Sing Tao Daily B4)
Over 7 securities firms lowered their target prices for Nine Dragons Paper (Holdings) (2689 HK) after its results announcement. Credit Suisse cut its price target to HK$9. (Hong Kong Economic Times A12)
NWS Holdings Limited (659 HK) yesterday announced the interim results for the six months ended 31 December 2010. The profit attributable to the shareholders of the company increased by 4 percent to HK$2391 million. Mr Cheng Chi Ming, Brian, Executive Director of NWS Holdings Limited, also noted that the company also planned to enter into consultations on new infrastructure projects based on the company’s financial position. (Sing Tao Daily B3)
Sun Hung Kai Properties Limited (16 HK) will announce its interim results next Monday. Some banks anticipate that the company will see an increase of 43 percent to 52 percent in profits, or between HK$9322 million and HK$9922 million. Merrill Lynch, JP Morgan Chase and Nomura even forecast that the company would increase the interim dividend. (Sing Tao Daily B3)
TravelSky Technology (696 HK) announces that it was recognized as one of the “key software enterprises falling within the State’s planned arrangement” in 2010. It was entitled to a preferential tax rate of 15 per cent from 2008 to 2010. Accordingly, it paid enterprise income tax for the financial year 2010 at the rate of 15 per cent. (Hong Kong Economic Journal P11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
AIA Group (1299 HK) will announce its results today. Its profit after tax was tipped to be around US$2.03 billion, a yoy increase of 16 per cent. (Hong Kong Economic Times A12)
China Animal Healthcare (940 HK) saw profit down 24 per cent to 120 million yuan for the year ended 31 December 2010. Its shares wend down to HK$1.9 each yesterday. (Hong Kong Economic Times A12)
China Medical System Holdings Ltd (867 HK) posted net profit of US$30.6 million for the year ended 31 December 2010, which represents an increase of 47.9 per cent year-on-year. It recommended a final dividend of US1.3 cents per ordinary share. (Hong Kong Economic Journal P11)
China Minsheng Banking Corp. (1988 HK) announced that the trading in the A shares and H shares of the company has been suspended with effect from 25 February 2011 pending the release of an announcement by China Minsheng Banking Corp. in relation to price sensitive information. (Sing Tao Daily B2)
CLP Holdings (2 HK) recorded business earnings for the last year, with HK$10.33 billion in profits, or up 26 percent, and earnings per share were HK$4.29. The company intends to expand Indian business and considers the spin-off of its Indian business when business there matures. (Sing Tao Daily B2)
Hopewell Highway Infrastructure (737 HK) booked net profit of HK$491 million for the 6 months ended 31 Dec 2010, down 2.57 per cent yoy. Interim dividend of HK16 cents per share was declared. (Hong Kong Economic Journal P11)
Without new properties taken into account, Hopewell Holdings’ (54 HK) profits attributable to the owners of the company dropped by 31 percent to HK$1.73 billion. (Sing Tao Daily B2)
International Elite Ltd. (1328 HK) announces that the company may record a significant loss for 2010 mainly due to a potential impairment charge of the goodwill arising from the acquisition of the interests in Sunward Group. (Sing Tao Daily B4)
King Stone Energy Group Limited (663 HK) announced that the company entered into a strategic framework agreement with China Railway Energy. The two companies agreed to build a strategic alliance for the development of energy and coal-related logistics in Mainland China. (Sing Tao Daily B4)
New Media Group Holdings Limited (708 HK) announced the interim results for the six months period ended 31 December 2010. The company recorded HK$32 million in profit attributable to shareholders, or a year-on-year increase of 18 percent, with earnings per share were HK cents 4.89.
(Sing Tao Daily B4)
Over 7 securities firms lowered their target prices for Nine Dragons Paper (Holdings) (2689 HK) after its results announcement. Credit Suisse cut its price target to HK$9. (Hong Kong Economic Times A12)
NWS Holdings Limited (659 HK) yesterday announced the interim results for the six months ended 31 December 2010. The profit attributable to the shareholders of the company increased by 4 percent to HK$2391 million. Mr Cheng Chi Ming, Brian, Executive Director of NWS Holdings Limited, also noted that the company also planned to enter into consultations on new infrastructure projects based on the company’s financial position. (Sing Tao Daily B3)
Sun Hung Kai Properties Limited (16 HK) will announce its interim results next Monday. Some banks anticipate that the company will see an increase of 43 percent to 52 percent in profits, or between HK$9322 million and HK$9922 million. Merrill Lynch, JP Morgan Chase and Nomura even forecast that the company would increase the interim dividend. (Sing Tao Daily B3)
TravelSky Technology (696 HK) announces that it was recognized as one of the “key software enterprises falling within the State’s planned arrangement” in 2010. It was entitled to a preferential tax rate of 15 per cent from 2008 to 2010. Accordingly, it paid enterprise income tax for the financial year 2010 at the rate of 15 per cent. (Hong Kong Economic Journal P11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, February 24, 2011
Hong Kong Stock Market Wrap Feburary 23rd, 2011
IPO: Market sources say EuroSibEnergo will introduce funds from the Middle East and has appointed a total of 9 investment banks from Hong Kong and from Russia for its listing plan. (Hong Kong Economic Times A12)
Bank of Communications (3328 HK) passed a resolution to issue RMB denominated bonds in Hong Kong in the principal amount of no more than 20 billion yuan before 31 Dec 2012. (Hong Kong Economic Times A12)
Brightoil Petroleum (933 HK) saw net profit decrease by 23 per cent yoy to HK$331 million for the 6 months ended 31 December 2010. Basic earnings per share decreased to 4.94 HK cents. No interim dividend will be declared. (Hong Kong Economic Journal P12)
CNOOC (883 HK) said that affected by liquidity, the weak US dollar, the devaluation of the RMB against the US dollar, oil prices were to maintain surging in the short term.CNOOC Goup did not intend to go public as a whole company. (SingTao Daily B2)
Great Eagle Holdings Limited (41 HK) announced that the company's profits from core business (after tax) surged 26 percent to HK$1.6 billion.
(SingTao Daily B2)
Guoco Group (53 HK) bought 1.7 million shares in the BEA (0023) on 18 Feb at HK$32.853 each on average, taking its shareholding in the bank from 9.98 per cent to 10.06 per cent. (Hong Kong Economic Journal P12)
Manta Holdings (936 HK) posted net profit of around HK$21 million for the year ended 31 December 2010, down 26.4 per cent. Earnings per share amounted to 13 HK cents. No final dividend will be paid. (SingTao Daily B2)
The construction of National Arts Holdings Limited's (8228 HK) theme park--"Xiqiao Dreamworks" Universal Studio Theme Park is expected to finish within 3 years. National Arts invested 800 million yuan into this huge project, with 200 million yuan invested for this year. Some scenic spots are explected to see grand openings in July and August 2011. (SingTao Daily B2)
New World Department Store China (825 HK) announced that the company recorded an increase of 8.3 per cent in its net profit for the six months ended 31 December 2010 to HK$295 million. (SingTao Daily B2)
Nine Dragons Paper’s (2689 HK) gross profit margin decreased to 18 per cent for the 6 months ended 31 Dec 2010. Net profit margin decreased to 10.3 per cent. Basic earnings per share increased to 0.27 yuan. Interim dividend per share of 2 fens was declared. (Hong Kong Economic Journal P12)
Playmates Toys (869 HK) says its turnover for the year ended 31 Dec 2010 is expected to reflect a similar percentage of decrease as reported for the first six months of the year, i.e. 78 per cent, and it is expected to record a loss for the year ended 31 Dec 2010. (Hong Kong Economic Times A14)
Sany Int'l (631 HK) planned to lauch its BDR IPO in BM&FBOVESPA S.A， Brazil, raising proceeds of approximately US$300 million (approximately HK$2.3 billion). (SingTao Daily B1)
SmarTone Telecommunications (315 HK) booked net profit of HK$320 million for the six months ended 31 Dec 2010, jumping 1.9x. It declares an interim dividend of 62 HK cents per share and proposes a bonus issue of 1 bonus share for every 1 existing share. (SingTao Daily B3)
Tech Pro Technology Development (3823 HK) expects to record a loss for the year ended 31 Dec 2010 due to an increase in raw material costs, labour and salary costs, which could not be passed on to the customers. (SingTao Daily B2)
Youyuan International Holdings (2268 HK) saw profit and total comprehensive income attributable to shareholders climb 54.6 per cent to 257 million yuan for the year ended 31 Dec 2010. Basic earnings per share were 0.285 yuan. It does not recommend payment of any final dividend. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bank of Communications (3328 HK) passed a resolution to issue RMB denominated bonds in Hong Kong in the principal amount of no more than 20 billion yuan before 31 Dec 2012. (Hong Kong Economic Times A12)
Brightoil Petroleum (933 HK) saw net profit decrease by 23 per cent yoy to HK$331 million for the 6 months ended 31 December 2010. Basic earnings per share decreased to 4.94 HK cents. No interim dividend will be declared. (Hong Kong Economic Journal P12)
CNOOC (883 HK) said that affected by liquidity, the weak US dollar, the devaluation of the RMB against the US dollar, oil prices were to maintain surging in the short term.CNOOC Goup did not intend to go public as a whole company. (SingTao Daily B2)
Great Eagle Holdings Limited (41 HK) announced that the company's profits from core business (after tax) surged 26 percent to HK$1.6 billion.
(SingTao Daily B2)
Guoco Group (53 HK) bought 1.7 million shares in the BEA (0023) on 18 Feb at HK$32.853 each on average, taking its shareholding in the bank from 9.98 per cent to 10.06 per cent. (Hong Kong Economic Journal P12)
Manta Holdings (936 HK) posted net profit of around HK$21 million for the year ended 31 December 2010, down 26.4 per cent. Earnings per share amounted to 13 HK cents. No final dividend will be paid. (SingTao Daily B2)
The construction of National Arts Holdings Limited's (8228 HK) theme park--"Xiqiao Dreamworks" Universal Studio Theme Park is expected to finish within 3 years. National Arts invested 800 million yuan into this huge project, with 200 million yuan invested for this year. Some scenic spots are explected to see grand openings in July and August 2011. (SingTao Daily B2)
New World Department Store China (825 HK) announced that the company recorded an increase of 8.3 per cent in its net profit for the six months ended 31 December 2010 to HK$295 million. (SingTao Daily B2)
Nine Dragons Paper’s (2689 HK) gross profit margin decreased to 18 per cent for the 6 months ended 31 Dec 2010. Net profit margin decreased to 10.3 per cent. Basic earnings per share increased to 0.27 yuan. Interim dividend per share of 2 fens was declared. (Hong Kong Economic Journal P12)
Playmates Toys (869 HK) says its turnover for the year ended 31 Dec 2010 is expected to reflect a similar percentage of decrease as reported for the first six months of the year, i.e. 78 per cent, and it is expected to record a loss for the year ended 31 Dec 2010. (Hong Kong Economic Times A14)
Sany Int'l (631 HK) planned to lauch its BDR IPO in BM&FBOVESPA S.A， Brazil, raising proceeds of approximately US$300 million (approximately HK$2.3 billion). (SingTao Daily B1)
SmarTone Telecommunications (315 HK) booked net profit of HK$320 million for the six months ended 31 Dec 2010, jumping 1.9x. It declares an interim dividend of 62 HK cents per share and proposes a bonus issue of 1 bonus share for every 1 existing share. (SingTao Daily B3)
Tech Pro Technology Development (3823 HK) expects to record a loss for the year ended 31 Dec 2010 due to an increase in raw material costs, labour and salary costs, which could not be passed on to the customers. (SingTao Daily B2)
Youyuan International Holdings (2268 HK) saw profit and total comprehensive income attributable to shareholders climb 54.6 per cent to 257 million yuan for the year ended 31 Dec 2010. Basic earnings per share were 0.285 yuan. It does not recommend payment of any final dividend. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap Feburary 22nd, 2011
361 Degrees International (1361 HK) saw turnover jump 29.5 per cent to 2.275 billion yuan for the 6 months ended 31 Dec 2010. Profit attributable to the equity shareholders was 423 million yuan, a growth of 18.5 per cent, meeting market expectations. (Hong Kong Economic Journal P6)
Morgan Stanley lowers its rating on Alibaba.com (1688 HK) from Overweight to Hold. Goldman Sachs maintains a Neutral rating and HK$14 price target for the company. (Hong Kong Economic Journal P6)
Bossini International Holdings (592 HK) booked net profit of HK$72.554 million for the 6 months ended 31 Dec 2010, surging 44.9 per cent yoy. It has declared an interim dividend of 2.2 HK cents per ordinary share. (Hong Kong Economic Times A9)
Burwill Holdings Limited (24 HK) planned to place an aggregate of up to 460 million existing shares. The top-up placing price of HK$0.48 per share represents a discount of approximately 14 percent to the benchmarked closing price of HK$0.56 per share. (Sing Tao Daily B4)
The market share of China Automation Group (569 HK) climbed to 30 percent. The company saw an increase of 42.7 percent in turnover last year, totalling 755 million yuan; net profit increased by 32.2 percent to 142 million yuan last year. (Sing Tao Daily B11)
China National Materials Company (1893 HK) announced that it planned to enter into acquisition of a 100 percent equity interest in SCRI (Suzhou Concrete Cement Products Research Institute Company Limited) held by its parent company for a consideration of 95 million yuan. (Sing Tao Daily B4)
China Overseas Land & Investment (688 HK) announces that its subsidiary China Overseas Grand Oceans (0081) has alloted and issued an aggregate of 189 million shares to Wang Tao Guang and Kentrise. China Overseas Land & Investment’s interest in the subsidiary decreased from 50.1 per cent to 40.18 per cent as a result. (Hong Kong Economic Journal P10)
Sinopec kicked off roadshow yesterday for issuing 23 billion A share convertible bonds. Sinopec also intends to purchase overseas upstream assets of its parent company-- China Petrochemical Corporation (Sinopec Group) (386 HK). Project injection standards are low political risks, low cost in the later period and stable returns. (Sing Tao Daily B4)
Digital China (861 HK) announced results for total nine months ended 31 December 2010. The net profit read HK$829 million, or increased by 22.53 percent. The net profit for the first three quarters in the last year exceeded the whole-year net profit of the previous year. (Sing Tao Daily B4)
Morgan Stanley ups its price target and rating for GCL-Poly Energy (3800 HK) from HK$4.3 to HK$4.85 and from In Line With Market to Overweight respectively. The shares closed at HK$3.9 each yesterday. (Hong Kong Economic Times A9)
HL Technology Group entered into Capital Contribution of 58.60 million yuan in aggregate to Tianjin Rituo. Upon completion of the Capital Increase, Tianjin Rituo will be held 55 percent by HL Technology. (Sing Tao Daily B4)
(0013) HUTCHISON WHAMPOA LIMITED
PROPOSED SPIN-OFF AND SEPARATE LISTING OF HUTCHISON PORT HOLDINGS TRUST ON MAIN BOARD OF SINGAPORE EXCHANGE SECURITIES
Hutchison Whampoa announces that it has determined the basis of the assured entitlement of qualifying shareholders to the units in the preferential offer. A qualifying shareholder who holds at least 1,000 shares on 3 Mar, being the record date, will be entitled to apply, on an assured basis, for 100 units for every one board lot of 1,000 shares it holds. (Hong Kong Economic Journal P7)
Kingdom Holdings Limited (528 HK) is expected to record a profit for the year ended 31 December 2010 against the loss for the year ended 31 December 2009. Market demand of products of Kingdom Holdings witnessed a tremendous increase last year, which boosted gross margins of products. (Sing Tao Daily B4)
Melco International Development’s (200 HK) 34 per cent owned associate Melco Crown Entertainment booked net revenues of US$2.642 billion last year, climbing 98 per cent yoy. Net loss was US$10.53 million. (Hong Kong Economic Times A9)
Benefited from the expansion of pilots of scheme of Building Materials to the Countryside, Xinyi Glass (868 HK) will enjoy this boost for its profitability. Xinyi invested a high-quality float glass production line (Phase I) in the Industrial Park, Jiangmen City, Guangdong Province. This line will be put into production before the end of this month, with 600 tonnes per day capacity. (Sing Tao Daily B11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Morgan Stanley lowers its rating on Alibaba.com (1688 HK) from Overweight to Hold. Goldman Sachs maintains a Neutral rating and HK$14 price target for the company. (Hong Kong Economic Journal P6)
Bossini International Holdings (592 HK) booked net profit of HK$72.554 million for the 6 months ended 31 Dec 2010, surging 44.9 per cent yoy. It has declared an interim dividend of 2.2 HK cents per ordinary share. (Hong Kong Economic Times A9)
Burwill Holdings Limited (24 HK) planned to place an aggregate of up to 460 million existing shares. The top-up placing price of HK$0.48 per share represents a discount of approximately 14 percent to the benchmarked closing price of HK$0.56 per share. (Sing Tao Daily B4)
The market share of China Automation Group (569 HK) climbed to 30 percent. The company saw an increase of 42.7 percent in turnover last year, totalling 755 million yuan; net profit increased by 32.2 percent to 142 million yuan last year. (Sing Tao Daily B11)
China National Materials Company (1893 HK) announced that it planned to enter into acquisition of a 100 percent equity interest in SCRI (Suzhou Concrete Cement Products Research Institute Company Limited) held by its parent company for a consideration of 95 million yuan. (Sing Tao Daily B4)
China Overseas Land & Investment (688 HK) announces that its subsidiary China Overseas Grand Oceans (0081) has alloted and issued an aggregate of 189 million shares to Wang Tao Guang and Kentrise. China Overseas Land & Investment’s interest in the subsidiary decreased from 50.1 per cent to 40.18 per cent as a result. (Hong Kong Economic Journal P10)
Sinopec kicked off roadshow yesterday for issuing 23 billion A share convertible bonds. Sinopec also intends to purchase overseas upstream assets of its parent company-- China Petrochemical Corporation (Sinopec Group) (386 HK). Project injection standards are low political risks, low cost in the later period and stable returns. (Sing Tao Daily B4)
Digital China (861 HK) announced results for total nine months ended 31 December 2010. The net profit read HK$829 million, or increased by 22.53 percent. The net profit for the first three quarters in the last year exceeded the whole-year net profit of the previous year. (Sing Tao Daily B4)
Morgan Stanley ups its price target and rating for GCL-Poly Energy (3800 HK) from HK$4.3 to HK$4.85 and from In Line With Market to Overweight respectively. The shares closed at HK$3.9 each yesterday. (Hong Kong Economic Times A9)
HL Technology Group entered into Capital Contribution of 58.60 million yuan in aggregate to Tianjin Rituo. Upon completion of the Capital Increase, Tianjin Rituo will be held 55 percent by HL Technology. (Sing Tao Daily B4)
(0013) HUTCHISON WHAMPOA LIMITED
PROPOSED SPIN-OFF AND SEPARATE LISTING OF HUTCHISON PORT HOLDINGS TRUST ON MAIN BOARD OF SINGAPORE EXCHANGE SECURITIES
Hutchison Whampoa announces that it has determined the basis of the assured entitlement of qualifying shareholders to the units in the preferential offer. A qualifying shareholder who holds at least 1,000 shares on 3 Mar, being the record date, will be entitled to apply, on an assured basis, for 100 units for every one board lot of 1,000 shares it holds. (Hong Kong Economic Journal P7)
Kingdom Holdings Limited (528 HK) is expected to record a profit for the year ended 31 December 2010 against the loss for the year ended 31 December 2009. Market demand of products of Kingdom Holdings witnessed a tremendous increase last year, which boosted gross margins of products. (Sing Tao Daily B4)
Melco International Development’s (200 HK) 34 per cent owned associate Melco Crown Entertainment booked net revenues of US$2.642 billion last year, climbing 98 per cent yoy. Net loss was US$10.53 million. (Hong Kong Economic Times A9)
Benefited from the expansion of pilots of scheme of Building Materials to the Countryside, Xinyi Glass (868 HK) will enjoy this boost for its profitability. Xinyi invested a high-quality float glass production line (Phase I) in the Industrial Park, Jiangmen City, Guangdong Province. This line will be put into production before the end of this month, with 600 tonnes per day capacity. (Sing Tao Daily B11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap Feburary 21st, 2011
Anta (2020 HK) announced its audited results for 2010 exceeded market expectations with 24 per cent of increase in net profits to 1.551 billion yuan. The volume of business was benefited from increases in sale prices last year. Anta’s shoe wholesale prices climbed by 4 per cent to 99.5 yuan in average and clothing wholesale prices increased by 8.8 per cent to 65.8 yuan in average last year. (Hong Kong Economic Journal P10)
As one of the major telecommunication service providers in Mainland China, China Communications Services (552 HK) is expected to witness a significant increase of 10x of its broad band users over the next 3 to 5 years. (Sing Tao Daily B11)
China Singyes Solar Technologies (750 HK) recorded 59.39 million yuan in net profit last year, or increased by 11.8 per cent. Ended in last year, the company held contracts in hand at value of 1 billion yuan, over 40 percent of which were solar energy related projects. (Sing Tao Daily B11)
China Mobile’s (941 HK) registered users took up only 41.2 percent of customers 3G markets in January 2011, recorded 1.931 million registered users. (Hong Kong Economic Times A6)
China Aoyuan Property (3883 HK) announced that acquired a new land through public auction at a consideration of approximately 144 million yuan. This land is located in at Yunhan Village, Shaxi Town, Zhongshan City with a site area of approximately 60,000 sq. m. and is designated for commercial and residential uses. (Sing Tao Daily B4)
Dongyue Group (189 HK) announced that the company entered into a purchase of a target land from the vendor (“Zibo City Bureau of Land and Resources”). The target land comprises Target Land A and Target Land B, which is situated in Huantai County, Zibo City, Shandong Province. (Sing Tao Daily B4)
Lai Sun Development Company (488 HK) announced that the company entered into the SPA with the Vendor for the acquisition of an office building at 36 Queen Street,London, EC4 1HJ, UK at a consideration of £16,880,000 (equivalent to approximately HK$213,532,000). (Sing Tao Daily B4)
Lee & Man Holding Limited (746 HK) announced its results for the year ended 31 December 20110. The company highlighted that its net profit increased by 95.7 percent to HK$457.5 million as compared to the last year. The company intends to develop new businesses in new materials. The company’s business currently focuses on Chloroform and Methylene Chloride. (Hong Kong Economic Times A6)
Man Wah Holdings (1999 HK) intended to expand its businesses by increasing to 1,000 stores by the year 2013. The company notes that this plan is expected to accomplish in advance. The company is expected to harvest profits based on calculations of HK$600,000 to HK$800,000 in investments into each store in Mainland China. (Hong Kong Economic Journal P6)
Parkson Retail Group (3368 HK) announced its annual results for the year ended 31 December 2010. The company saw an increase of 8.9 percent in profits to 992 million yuan, with 0.353 yuan of earnings per share. The company plans to expand its businesses substantially by opening 8 to 9 new stores each year over the next three years. (Hong Kong Economic Times A6)
RCG Holdings (802 HK) announced that the company entered into the Subscription Agreements with the Subscribers on 18 February 2011. The Company agreed to allot and issue to the subscribers and the subscribers agreed to subscribe for an aggregate of 19,000,000 new ordinary shares of HK$0.01 each in the Company at HK$2.50 per subscription share, raising HK$47.50 million before expenses. (Sing Tao Daily B5)
Thunder Sky Battery Limited (“Thunder Sky”) (729 HK) announced that trading in the shares of the company has been suspended with effect from yesterday (on 21 February 2011). Sources said that disagreement among shareholders of Thunder Sky triggered this suspension. The announcement also said that price sensitive notices were stilling pending. (Hong Kong Economic Journal P6)
Xinjiang Tianye Water (840 HK) Saving Irrigation System issued the positive profit alert. The company is expected to achieve record highs of both the total revenue and the net profit attributable to owners of the company for the last financial year. The net profit in 2010 is expected to have a growth of over 100 percent as compared with the net profit recorded in 2009. (Sing Tao Daily B4)
Zhaojin Mining Industry (1818 HK) said that the company has received a notice from the local government that the company’s mining enterprises in Zhaoyuan City have passed the inspection and are allowed for resumption of production from 21 February 2011. This operation suspension had lasted for 33 days from 19 January 2011 till 20 February 2011. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
As one of the major telecommunication service providers in Mainland China, China Communications Services (552 HK) is expected to witness a significant increase of 10x of its broad band users over the next 3 to 5 years. (Sing Tao Daily B11)
China Singyes Solar Technologies (750 HK) recorded 59.39 million yuan in net profit last year, or increased by 11.8 per cent. Ended in last year, the company held contracts in hand at value of 1 billion yuan, over 40 percent of which were solar energy related projects. (Sing Tao Daily B11)
China Mobile’s (941 HK) registered users took up only 41.2 percent of customers 3G markets in January 2011, recorded 1.931 million registered users. (Hong Kong Economic Times A6)
China Aoyuan Property (3883 HK) announced that acquired a new land through public auction at a consideration of approximately 144 million yuan. This land is located in at Yunhan Village, Shaxi Town, Zhongshan City with a site area of approximately 60,000 sq. m. and is designated for commercial and residential uses. (Sing Tao Daily B4)
Dongyue Group (189 HK) announced that the company entered into a purchase of a target land from the vendor (“Zibo City Bureau of Land and Resources”). The target land comprises Target Land A and Target Land B, which is situated in Huantai County, Zibo City, Shandong Province. (Sing Tao Daily B4)
Lai Sun Development Company (488 HK) announced that the company entered into the SPA with the Vendor for the acquisition of an office building at 36 Queen Street,London, EC4 1HJ, UK at a consideration of £16,880,000 (equivalent to approximately HK$213,532,000). (Sing Tao Daily B4)
Lee & Man Holding Limited (746 HK) announced its results for the year ended 31 December 20110. The company highlighted that its net profit increased by 95.7 percent to HK$457.5 million as compared to the last year. The company intends to develop new businesses in new materials. The company’s business currently focuses on Chloroform and Methylene Chloride. (Hong Kong Economic Times A6)
Man Wah Holdings (1999 HK) intended to expand its businesses by increasing to 1,000 stores by the year 2013. The company notes that this plan is expected to accomplish in advance. The company is expected to harvest profits based on calculations of HK$600,000 to HK$800,000 in investments into each store in Mainland China. (Hong Kong Economic Journal P6)
Parkson Retail Group (3368 HK) announced its annual results for the year ended 31 December 2010. The company saw an increase of 8.9 percent in profits to 992 million yuan, with 0.353 yuan of earnings per share. The company plans to expand its businesses substantially by opening 8 to 9 new stores each year over the next three years. (Hong Kong Economic Times A6)
RCG Holdings (802 HK) announced that the company entered into the Subscription Agreements with the Subscribers on 18 February 2011. The Company agreed to allot and issue to the subscribers and the subscribers agreed to subscribe for an aggregate of 19,000,000 new ordinary shares of HK$0.01 each in the Company at HK$2.50 per subscription share, raising HK$47.50 million before expenses. (Sing Tao Daily B5)
Thunder Sky Battery Limited (“Thunder Sky”) (729 HK) announced that trading in the shares of the company has been suspended with effect from yesterday (on 21 February 2011). Sources said that disagreement among shareholders of Thunder Sky triggered this suspension. The announcement also said that price sensitive notices were stilling pending. (Hong Kong Economic Journal P6)
Xinjiang Tianye Water (840 HK) Saving Irrigation System issued the positive profit alert. The company is expected to achieve record highs of both the total revenue and the net profit attributable to owners of the company for the last financial year. The net profit in 2010 is expected to have a growth of over 100 percent as compared with the net profit recorded in 2009. (Sing Tao Daily B4)
Zhaojin Mining Industry (1818 HK) said that the company has received a notice from the local government that the company’s mining enterprises in Zhaoyuan City have passed the inspection and are allowed for resumption of production from 21 February 2011. This operation suspension had lasted for 33 days from 19 January 2011 till 20 February 2011. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, February 21, 2011
Hong Kong Stock Market Wrap Feburary 18th, 2011
IPO: Japan’s BALS Corporation, the parent company of Japan’s furniture and interior household accessory company—francfranc, plans to launch its IPO in Hong Kong. The company announced that they have set at least ten years’ plan aiming to develop markets in China and Hong Kong. The company intends to finance HK$3 billion for its IPO in Hong Kong. (Hong Kong Economic Journal P6)
Zoomlion (1157 HK) intended to invest 100 million yuan to enter into construction of local corporate insurance agencies in Hunan Province. The equity is initially set at value of 1.15 billion yuan. (Sing Tao Daily B15)
CCB Asia’s (939 HK) loans in Hong Kong surged by 29 per cent last year. Ms. Miranda Kwok, president of China Construction Bank (Asia), said the parent bank—China Construction Bank intended to seek acquisitions in Hong Kong. Ms. Kwok anticipates that the increase of loans this year will remain consistent with that of last year. (Sing Tao Daily B15)
Mr. Zhou Yong, Chief Executive Officer of China State Construction International Holdings Limited (3311 HK), said that the company intended to expand market in the second-tier cities in Mainland China. The company is making great efforts in developing affordable housing projects in Mainland China, with special focus on projects in Chongqing, Tianjin and Chengdu. The gross profit margin for affordable housing projects stood at over 10 per cent, Mr. Zhou noted. (Hong Kong Economic Times A10)
Haitian International Holdings Limited (1882 HK) issued positive profit alert yesterday. The company is reported to see a significant increase in unaudited net profit for the year ended in 31 December 2010. It is preliminarily expected that the profit attributable to the company’s shareholders to increase by over 100 percent when compared with the profit of 450 million yuan in 2009. (Hong Kong Economic Times A11)
Sino Land Company’s (83 HK) basic earnings excluding a net surplus on revaluation of investment properties are expected to stand at between HK$2.8 billion and HK$3.08 billion, or up 38 per cent to 51 per cent for the year ended 31 December 2010. (Sing Tao Daily B15)
\US’ Groupon has teamed up with Tencent Holdings (700) to launch a group-buying site in China-- Gaopeng.com, with each side investing US$50 million. (Sing Tao Daily B15)
Vodone Limited (82 HK) announced yesterday that the company was expected to report a significant increase in unaudited net profit for the year ended 31 December 2010 as compared to the year ended 31 December 2009, or HK$105.3 billion in net profit. The company’s telecommunication media services, mobile lottery and games contributed to such an increase. (Hong Kong Economic Times A11)
China Forestry (930 HK) removed on 14 Feb Li Han Chun as its CEO and announced that all of his powers and duties shall cease with immediate effect. Li Jian has been appointed as the acting CEO. (Hong Kong Economic Times A11)
China Motor Bus (26 HK) posted profit attributable to shareholders of HK$275 million for the 6 months ended 31 Dec 2010, down 18.6 per cent. EPS amounted to HK$6.04. It has resolved to pay an interim dividend of HK$0.10 per share and a special dividend of HK$0.5 per share, i.e. HK$0.6 per share in aggregate. (SingTao Daily B12)
China Unicom (Hong Kong) (762 HK) recorded net additions of 3G service subscribers of 1.407 million in Jan. Aggregate number of 3G service subscribers rose to 15.467 million. Aggregate number of 2G service subscribers reached 154 million. (Hong Kong Economic Times A11)
Convoy Financial Services (1019 HK) expects a substantial increase in last year’s net profit due to an increase in brokerage commission income derived from sale of Investment-linked Assurance Schemes and other insurance products. (SingTao Daily B12)
GCL-Poly Energy (3800 HK) announces that it has approved an investment of around HK$17.7 billion in the polysilicon and wafer facilities in the PRC in 2011 and 2012. The company says that it renewed and entered into new long-term polysilicon products and wafer supply contracts in 2H10 so it has to increase its capacities in order to fulfill the obligations of these contracts over the next 4 to 6 years. (SingTao Daily B12)
Imagi International (585 HK) will purchase a holding company of Toon Express Group for a consideration of HK$814 million, to be settled partly in cash and partly by the issuance of consideration shares and promissory notes. Toon Express Group owns the brand Pleasant Goat and Big Big Wolf (喜羊羊與灰太狼). Imagi International will place shares to 8 investors including Yung Chi Kin to raise HK$359 million to pay part of the consideration. (Hong Kong Economic Journal P4)
Moiselle International (130 HK) has agreed to acquire from Wheelock And Company (0020) the entire 17th floor of One Island South, 2 Heung Yip Road, Wong Chuk Hang for a purchase price of HK$187 million. The property comprises a total gross floor area of 29,800 sq feet and will be used as its office in HK. (Hong Kong Economic Journal P5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Zoomlion (1157 HK) intended to invest 100 million yuan to enter into construction of local corporate insurance agencies in Hunan Province. The equity is initially set at value of 1.15 billion yuan. (Sing Tao Daily B15)
CCB Asia’s (939 HK) loans in Hong Kong surged by 29 per cent last year. Ms. Miranda Kwok, president of China Construction Bank (Asia), said the parent bank—China Construction Bank intended to seek acquisitions in Hong Kong. Ms. Kwok anticipates that the increase of loans this year will remain consistent with that of last year. (Sing Tao Daily B15)
Mr. Zhou Yong, Chief Executive Officer of China State Construction International Holdings Limited (3311 HK), said that the company intended to expand market in the second-tier cities in Mainland China. The company is making great efforts in developing affordable housing projects in Mainland China, with special focus on projects in Chongqing, Tianjin and Chengdu. The gross profit margin for affordable housing projects stood at over 10 per cent, Mr. Zhou noted. (Hong Kong Economic Times A10)
Haitian International Holdings Limited (1882 HK) issued positive profit alert yesterday. The company is reported to see a significant increase in unaudited net profit for the year ended in 31 December 2010. It is preliminarily expected that the profit attributable to the company’s shareholders to increase by over 100 percent when compared with the profit of 450 million yuan in 2009. (Hong Kong Economic Times A11)
Sino Land Company’s (83 HK) basic earnings excluding a net surplus on revaluation of investment properties are expected to stand at between HK$2.8 billion and HK$3.08 billion, or up 38 per cent to 51 per cent for the year ended 31 December 2010. (Sing Tao Daily B15)
\US’ Groupon has teamed up with Tencent Holdings (700) to launch a group-buying site in China-- Gaopeng.com, with each side investing US$50 million. (Sing Tao Daily B15)
Vodone Limited (82 HK) announced yesterday that the company was expected to report a significant increase in unaudited net profit for the year ended 31 December 2010 as compared to the year ended 31 December 2009, or HK$105.3 billion in net profit. The company’s telecommunication media services, mobile lottery and games contributed to such an increase. (Hong Kong Economic Times A11)
China Forestry (930 HK) removed on 14 Feb Li Han Chun as its CEO and announced that all of his powers and duties shall cease with immediate effect. Li Jian has been appointed as the acting CEO. (Hong Kong Economic Times A11)
China Motor Bus (26 HK) posted profit attributable to shareholders of HK$275 million for the 6 months ended 31 Dec 2010, down 18.6 per cent. EPS amounted to HK$6.04. It has resolved to pay an interim dividend of HK$0.10 per share and a special dividend of HK$0.5 per share, i.e. HK$0.6 per share in aggregate. (SingTao Daily B12)
China Unicom (Hong Kong) (762 HK) recorded net additions of 3G service subscribers of 1.407 million in Jan. Aggregate number of 3G service subscribers rose to 15.467 million. Aggregate number of 2G service subscribers reached 154 million. (Hong Kong Economic Times A11)
Convoy Financial Services (1019 HK) expects a substantial increase in last year’s net profit due to an increase in brokerage commission income derived from sale of Investment-linked Assurance Schemes and other insurance products. (SingTao Daily B12)
GCL-Poly Energy (3800 HK) announces that it has approved an investment of around HK$17.7 billion in the polysilicon and wafer facilities in the PRC in 2011 and 2012. The company says that it renewed and entered into new long-term polysilicon products and wafer supply contracts in 2H10 so it has to increase its capacities in order to fulfill the obligations of these contracts over the next 4 to 6 years. (SingTao Daily B12)
Imagi International (585 HK) will purchase a holding company of Toon Express Group for a consideration of HK$814 million, to be settled partly in cash and partly by the issuance of consideration shares and promissory notes. Toon Express Group owns the brand Pleasant Goat and Big Big Wolf (喜羊羊與灰太狼). Imagi International will place shares to 8 investors including Yung Chi Kin to raise HK$359 million to pay part of the consideration. (Hong Kong Economic Journal P4)
Moiselle International (130 HK) has agreed to acquire from Wheelock And Company (0020) the entire 17th floor of One Island South, 2 Heung Yip Road, Wong Chuk Hang for a purchase price of HK$187 million. The property comprises a total gross floor area of 29,800 sq feet and will be used as its office in HK. (Hong Kong Economic Journal P5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, February 18, 2011
Hong Kong Stock Market Wrap Feburary 17th, 2011
Country Garden Holdings Company (2007 HK) planned to issue US$900 million senior notes due 2018. The interest rate is 11.125 per cent per annum. The estimated net proceeds of the Notes Issue will amount to approximately US$875 million (HK$6.825 billion). (Hong Kong Economic Times A12)
SINOPEC (386 HK) Corporation A shares announced that the company planned to issue RMB A share convertible totalling 23 billion yuan, with the conversion price per share at 9.73 yuan. Raised funds to be used ethylene projects in Wuhan, Anqing branch sour crude oil processing, adaptation and quality upgrades, Shijiazhuang refining and chemical branch upgrades and crude oil inferior quality reconstruction projects, Yulin – Jinan gas pipeline projects and Rizhao– Yizheng oil pipeline and related construction projects. (Hong Kong Economic Journal P9)
China Life Insurance (2628 HK) announces that, pursuant to the “Regulations regarding the Accounting Treatment of Insurance Contracts” issued by the Ministry of Finance, its Jan accumulated premium income was about 43.9 billion yuan, up 5 per cent yoy. (SingTao Daily B4)
CSR Corporation (1766 HK) announces that it has recently entered into certain material contracts, with an aggregate value of about 7.5 billion yuan. (SingTao Daily B4)
Dah Chong (1828 HK) intends to expand logistics and warehousing businesses in Mainland China. Mr. David Kuk, General Manager of Dah Chong Hong, noted yesterday that in the coming 2 to 3 years, the company planed to speed up its business networks in Mainland China and enhance local logistics support services, it also intended to develop cold chains nation wide, strengthening industrial chains in Guangzhou and Shenzhen with special focus on business in Xiamen. (Hong Kong Economic Journal P9)
Hsin Chong Construction (404 HK) announces that David Chu Shu-ho has tendered his resignation as its non-executive director and the chairman with effect from 16 Feb 2011 and Kenneth Chu Ting-kin has been appointed as the new chairman. (SingTao Daily B4)
Lenovo Group Limited (“Lenovo”) (992 HK) announced the unaudited results for the third quarter in FY2010/2011. The net profit for the 3rd quarter increased by 25 per cent to US$99.65 million (approximately HK$780 million), or 30.1 per cent over against that of the 2nd quarter, exceeding market expectations. Lenovo’s PC sales in the 3rd quarter supported market shares of Lenovo to 32.2 per cent record high. (Hong Kong Economic Journal P9)
Ping An Insurance (2318 HK) announces that the Jan accumulated written premiums of its subsidiaries Ping An Life, Ping An Property & Casualty, Ping An Health and Ping An Annuity were 25.4 billion, 8.85 billion, 34.38 million and 627 million yuan respectively. The data is not yet adjusted according to the requirement set out in the “No. 2 Interpretation of Accounting Standards for Business Enterprises” and the “Regulations regarding the Accounting Treatment of Insurance Contracts” in relation to the segregation of mixed insurance contracts and the testing on material insurance risks. (SingTao Daily B4)
Road King Infrastructure (1098 HK) proposes to issue new CNY denominated guaranteed senior notes, with a term of 3 years and an interest rate of around 6 per cent. (SingTao Daily B4)
SMIC (981 HK) reported the results for the fourth quarter (the three months ended December 31, 2010). The company read the net profit at US$68.57 million (approximately HK$535 million). (Hong Kong Economic Journal P9)
The board of Shun Tak Holdings Limited (242 HK) noted that disputes over Stanley Ho assets were not the interference in the company’s daily business operation. But the company intended to continue to monitor this case. The company made a clarification announcement that there were no substantial changes among shareholders, company management and business strategies. (Hong Kong Economic Times A12)
Siberian Mining Group (1142 HK) plans to place 260 million new shares to Uridul Asset Management at a price of HK$0.135 per share to raise HK$68 million. (SingTao Daily B4)
The Listing Committee of HKEx criticizes Smart Union Group (2700 HK) and its several executive directors for breaching the Exchange Listing Rules. They are executive directors Wu Kam Bun, Ho Wai Wah, Wong Wai Chuen and former executive director Lo Kwok Choi. (SingTao Daily B5)
Standard Chartered Bank (2888 HK) announced that they closed its banking operations in Ivory Coast. Standard Chartered Bank was the fourth bank this week that reported its business suspension in Ivory Coast. "Given the increasingly challenging operating environment in Ivory Coast, we have decided to temporarily suspend our operations there until it is safe to reopen", Standard Chartered said in a statement. (Hong Kong Economic Journal P8)
Yuexiu Property Company (123 HK) announces that its Jan contracted sales amounted to 790 million yuan, sinking 55 per cent yoy. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
SINOPEC (386 HK) Corporation A shares announced that the company planned to issue RMB A share convertible totalling 23 billion yuan, with the conversion price per share at 9.73 yuan. Raised funds to be used ethylene projects in Wuhan, Anqing branch sour crude oil processing, adaptation and quality upgrades, Shijiazhuang refining and chemical branch upgrades and crude oil inferior quality reconstruction projects, Yulin – Jinan gas pipeline projects and Rizhao– Yizheng oil pipeline and related construction projects. (Hong Kong Economic Journal P9)
China Life Insurance (2628 HK) announces that, pursuant to the “Regulations regarding the Accounting Treatment of Insurance Contracts” issued by the Ministry of Finance, its Jan accumulated premium income was about 43.9 billion yuan, up 5 per cent yoy. (SingTao Daily B4)
CSR Corporation (1766 HK) announces that it has recently entered into certain material contracts, with an aggregate value of about 7.5 billion yuan. (SingTao Daily B4)
Dah Chong (1828 HK) intends to expand logistics and warehousing businesses in Mainland China. Mr. David Kuk, General Manager of Dah Chong Hong, noted yesterday that in the coming 2 to 3 years, the company planed to speed up its business networks in Mainland China and enhance local logistics support services, it also intended to develop cold chains nation wide, strengthening industrial chains in Guangzhou and Shenzhen with special focus on business in Xiamen. (Hong Kong Economic Journal P9)
Hsin Chong Construction (404 HK) announces that David Chu Shu-ho has tendered his resignation as its non-executive director and the chairman with effect from 16 Feb 2011 and Kenneth Chu Ting-kin has been appointed as the new chairman. (SingTao Daily B4)
Lenovo Group Limited (“Lenovo”) (992 HK) announced the unaudited results for the third quarter in FY2010/2011. The net profit for the 3rd quarter increased by 25 per cent to US$99.65 million (approximately HK$780 million), or 30.1 per cent over against that of the 2nd quarter, exceeding market expectations. Lenovo’s PC sales in the 3rd quarter supported market shares of Lenovo to 32.2 per cent record high. (Hong Kong Economic Journal P9)
Ping An Insurance (2318 HK) announces that the Jan accumulated written premiums of its subsidiaries Ping An Life, Ping An Property & Casualty, Ping An Health and Ping An Annuity were 25.4 billion, 8.85 billion, 34.38 million and 627 million yuan respectively. The data is not yet adjusted according to the requirement set out in the “No. 2 Interpretation of Accounting Standards for Business Enterprises” and the “Regulations regarding the Accounting Treatment of Insurance Contracts” in relation to the segregation of mixed insurance contracts and the testing on material insurance risks. (SingTao Daily B4)
Road King Infrastructure (1098 HK) proposes to issue new CNY denominated guaranteed senior notes, with a term of 3 years and an interest rate of around 6 per cent. (SingTao Daily B4)
SMIC (981 HK) reported the results for the fourth quarter (the three months ended December 31, 2010). The company read the net profit at US$68.57 million (approximately HK$535 million). (Hong Kong Economic Journal P9)
The board of Shun Tak Holdings Limited (242 HK) noted that disputes over Stanley Ho assets were not the interference in the company’s daily business operation. But the company intended to continue to monitor this case. The company made a clarification announcement that there were no substantial changes among shareholders, company management and business strategies. (Hong Kong Economic Times A12)
Siberian Mining Group (1142 HK) plans to place 260 million new shares to Uridul Asset Management at a price of HK$0.135 per share to raise HK$68 million. (SingTao Daily B4)
The Listing Committee of HKEx criticizes Smart Union Group (2700 HK) and its several executive directors for breaching the Exchange Listing Rules. They are executive directors Wu Kam Bun, Ho Wai Wah, Wong Wai Chuen and former executive director Lo Kwok Choi. (SingTao Daily B5)
Standard Chartered Bank (2888 HK) announced that they closed its banking operations in Ivory Coast. Standard Chartered Bank was the fourth bank this week that reported its business suspension in Ivory Coast. "Given the increasingly challenging operating environment in Ivory Coast, we have decided to temporarily suspend our operations there until it is safe to reopen", Standard Chartered said in a statement. (Hong Kong Economic Journal P8)
Yuexiu Property Company (123 HK) announces that its Jan contracted sales amounted to 790 million yuan, sinking 55 per cent yoy. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, February 17, 2011
Hong Kong Stock Market Wrap Feburary 16th, 2011
Ausnutria Dairy Corporation (1717 HK) says that that 7 batches of its products from suppliers were rejected by the GAQSIQ from Mar to Jul is because the products did not meet the specific product standards requirement as agreed with suppliers, unrelated to food safety. All the products concerned had been returned to suppliers and had not been circulated in the market. (SingTao Daily B3)
Biostime International Holdings Limited (1112 HK) announced investment in a new probiotics granules production line. After this new line goes into operation at the second half of this year, annual productivity of this line will increase to 160 million from 86 million. (Hong Kong Economic Times A12)
China Agrotech (1073 HK) expects a significant increase in profit for the 6 months ended 31 Dec 2010, which is primarily due to an increase in turnover and operating profit of its agricultural resources business resulting from market recovery and the profit contribution from the newly acquired seedling business, etc.
(SingTao Daily B2)
China Coal Energy Company Limited (1898 HK) announced productive and operational data for January 2011. The company’s commercial coal production volume totalled 8.82 million tonnes, or 5.6 per cent of year-on-year increase. Coke production volume dropped 31.8 per cent to 150,000 tonnes. Coal sales volume increased 27.7 per cent year-on-year to 9.09 million tonnes. (Hong Kong Economic Journal P7)
China Properties Investment (736 HK) proposes to raise HK$338 million by issuing rights shares at subscription price of HK$0.068 apiece on the basis of 30 rights shares for every 1 existing share. (SingTao Daily B2)
China Taiping Insurance (966 HK) announces that as requisite approvals for a disposal of the entire equity interest in Ming An China have been obtained, the estimated net profit of 993 million yuan resulting from the disposal would be recognized in its 2010 consolidated income statement. (SingTao Daily B2)
GZI Transport (1052 HK) announces an establishment of a JV company with Wuzhou Transport and Xin Yue to operate the Wuzhou Port. The total investm ent for the Wuzhou Port is 513 million yuan. The registered capital of the JV company will be 171 million yuan. GZT China will contribute around 87 million yuan and own 51 per cent interest. (SingTao Daily B2)
Mr. Ronnie C. Chan, Chairman of Hang Lung Group Limited (101 HK), anticipates that the company will enter into a gold period except low rate of return from new shopping malls. He also notes that although there are variations in policies in Mainland China, Hang Lung Properties still focuses on the quality development of commercial projects. (Hong Kong Economic Journal P6)
KWG Property (1813 HK) yesterday announced that the audited consolidated net profit of the company for the year 2010 may experience a significant increase as compared with the corresponding period in 2009. Such increase is mainly attributable to a great increase in the total gross floor area delivered to buyers in 2010. (Hong Kong Economic Times A12)
Magic Holdings International (1633 HK) booked net profit of HK$60.4 million for the 6 months ended 31 Dec 2010, up 7.7 per cent yoy. EPS amounted to 8.41 HK cents. The company did not recommend the payment of an interim dividend. (SingTao Daily B2)
Mongolia Investment Group (402 HK) announces that, as a second technical report cannot be completed in time in relation to its acquisition of assets including TNE mine, no compensation note therefore will be issued. It will however continue to explore economic viability of the other mines. (SingTao Daily B2)
Natural Beauty Bio-Technology Limited (157 HK) anticipates that consolidated results for the year 2010 will suffer a major setback. The company also notes final dividends for 2010 will not be lower than that of the same period in 2009. (Hong Kong Economic Times A12)
It is reported that Pacific Century Premium Development Limited (“the group”) (432 HK) intends to dispose of its interests in Pacific Century Place (PCP), Beijing. As of the date of this announcement, no decision on disposing of interests in PCP Beijing has been made. Sources say that the group has put PCP Beijing for sale by sealed bids, aiming at over 4 billion yuan. (Hong Kong Economic Journal P4)
Skyworth Digital Holdings Limited (“Skyworth Digital”) (751 HK) announced LCD flat panel sales volume growth of 3 per cent, up to approximately 880,000 and and 6 per cent year-on-year in January 2011 and from April 2010 to January 2011, respectively. LED LCD TV sets accounted for approximately 32 per cent of the flat panel TV sales volume of Skyworth Digital in January 2011. (Hong Kong Economic Times A12)
United Company RUSAL (486 HK) announces that, on 16 Feb, the book with respect to a first tranche (series 07) of a Ruble bonds issue (in the amount of RUR15 billion) opens, and that the book is expected to close on or about 1 Mar 2011. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Biostime International Holdings Limited (1112 HK) announced investment in a new probiotics granules production line. After this new line goes into operation at the second half of this year, annual productivity of this line will increase to 160 million from 86 million. (Hong Kong Economic Times A12)
China Agrotech (1073 HK) expects a significant increase in profit for the 6 months ended 31 Dec 2010, which is primarily due to an increase in turnover and operating profit of its agricultural resources business resulting from market recovery and the profit contribution from the newly acquired seedling business, etc.
(SingTao Daily B2)
China Coal Energy Company Limited (1898 HK) announced productive and operational data for January 2011. The company’s commercial coal production volume totalled 8.82 million tonnes, or 5.6 per cent of year-on-year increase. Coke production volume dropped 31.8 per cent to 150,000 tonnes. Coal sales volume increased 27.7 per cent year-on-year to 9.09 million tonnes. (Hong Kong Economic Journal P7)
China Properties Investment (736 HK) proposes to raise HK$338 million by issuing rights shares at subscription price of HK$0.068 apiece on the basis of 30 rights shares for every 1 existing share. (SingTao Daily B2)
China Taiping Insurance (966 HK) announces that as requisite approvals for a disposal of the entire equity interest in Ming An China have been obtained, the estimated net profit of 993 million yuan resulting from the disposal would be recognized in its 2010 consolidated income statement. (SingTao Daily B2)
GZI Transport (1052 HK) announces an establishment of a JV company with Wuzhou Transport and Xin Yue to operate the Wuzhou Port. The total investm ent for the Wuzhou Port is 513 million yuan. The registered capital of the JV company will be 171 million yuan. GZT China will contribute around 87 million yuan and own 51 per cent interest. (SingTao Daily B2)
Mr. Ronnie C. Chan, Chairman of Hang Lung Group Limited (101 HK), anticipates that the company will enter into a gold period except low rate of return from new shopping malls. He also notes that although there are variations in policies in Mainland China, Hang Lung Properties still focuses on the quality development of commercial projects. (Hong Kong Economic Journal P6)
KWG Property (1813 HK) yesterday announced that the audited consolidated net profit of the company for the year 2010 may experience a significant increase as compared with the corresponding period in 2009. Such increase is mainly attributable to a great increase in the total gross floor area delivered to buyers in 2010. (Hong Kong Economic Times A12)
Magic Holdings International (1633 HK) booked net profit of HK$60.4 million for the 6 months ended 31 Dec 2010, up 7.7 per cent yoy. EPS amounted to 8.41 HK cents. The company did not recommend the payment of an interim dividend. (SingTao Daily B2)
Mongolia Investment Group (402 HK) announces that, as a second technical report cannot be completed in time in relation to its acquisition of assets including TNE mine, no compensation note therefore will be issued. It will however continue to explore economic viability of the other mines. (SingTao Daily B2)
Natural Beauty Bio-Technology Limited (157 HK) anticipates that consolidated results for the year 2010 will suffer a major setback. The company also notes final dividends for 2010 will not be lower than that of the same period in 2009. (Hong Kong Economic Times A12)
It is reported that Pacific Century Premium Development Limited (“the group”) (432 HK) intends to dispose of its interests in Pacific Century Place (PCP), Beijing. As of the date of this announcement, no decision on disposing of interests in PCP Beijing has been made. Sources say that the group has put PCP Beijing for sale by sealed bids, aiming at over 4 billion yuan. (Hong Kong Economic Journal P4)
Skyworth Digital Holdings Limited (“Skyworth Digital”) (751 HK) announced LCD flat panel sales volume growth of 3 per cent, up to approximately 880,000 and and 6 per cent year-on-year in January 2011 and from April 2010 to January 2011, respectively. LED LCD TV sets accounted for approximately 32 per cent of the flat panel TV sales volume of Skyworth Digital in January 2011. (Hong Kong Economic Times A12)
United Company RUSAL (486 HK) announces that, on 16 Feb, the book with respect to a first tranche (series 07) of a Ruble bonds issue (in the amount of RUR15 billion) opens, and that the book is expected to close on or about 1 Mar 2011. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, February 16, 2011
Hong Kong Stock Market Wrap Feburary 15th, 2011
IPO: Market sources say EuroSibEnergy will kick off roadshow early in Mar to raise around US$1 billion to 1.5 billion. VTB is one of the global coordinators to the issue. (SingTao Daily B3)
IPO: Hutchison Port Holdings Trust kicked off roadshow yesterday, aiming to raise almost HK$50 billion. Deutsche Bank and Goldman Sachs are underwriters to the IPO. (SingTao Daily B1)
The bleak situation lingered in January for BYD Company Limited (“BYD”) (1211 HK). BYD’s automobile sales in Jan only amounted to 52,000, down by 15 per cent over the same period last year. BYD projected sales volume of 620,000, or up 20 percent for this year. (Hong Kong Economic Journal P6)
China SCE Property Holdings (1966 HK) announced yesterday that its Jan contracted sales rose 9.6 times yoy to 650 million yuan. (SingTao Daily B4)
According to reports from CCTV, CNOOC (883 HK) plans to spend 350 billion yuan in the coming 5 years for the company’s offshore oil exploration and production, over 20 billion yuan of which will be used for constructing deep-water equipments. (Hong Kong Economic Journal P6)
When People’s Bank of China increased interest rates coupled with tightening monetary policies, markets began to concern about property prospect. Evergrande Real Estate (3333 HK) denied issuing bonds. The company’s current debt ratio reads approximately 31 percent and it intends to maintain the debt ratio within 40 percent this year. (Hong Kong Economic Times A10)
Guoco Group Limited (53 HK) announced interim results for the six months ended 31 December 2010. Although the company’s revenue dipped, profit attributable to shareholders of the company totalled HK$3842 million, or up by 261 per cent for the six months ended 31 December 2010. The company’s interim dividend per share was HK$1.00, up by 25 per cent over that in 2009. (Hong Kong Economic Times A9)
Hengli Properties Development's (169 HK) subsidiary Fujian Zhonglu Real Estate has entered into a long-term lease agreement with a leading retail department store group listed on the Shanghai Stock Exchange. It will lease the commercial podium of Hengli City to the group. (SingTao Daily B2)
Hua Xia Healthcare (8143 HK) booked net profit of HK$44 million for the 9 months ended 31 Dec 2010. EPS amounted to 4.46 HK cents. (SingTao Daily B2)
Husky Energy under Hutchison Whampoa (13 HK) earned C$305 million in Q4, down 5 per cent. Full-yr profit dropped 17 per cent. (SingTao Daily B2)
Kaisa Group (1638 HK) announces that its full-year contracted sales target to be 15 billion yuan, up 50 per cent yoy. (SingTao Daily B4)
Lam Soon (Hong Kong) Limited (411 HK) announced interim financial results. The company’s interim net profit attributable to shareholders was HK$62.81 million, or down by 12.1 per cent on a year-on-year basis. Turnover was HK$1,288 million representing 15 per cent growth when compared with the previous corresponding period. (Hong Kong Economic Journal P6)
Manulife Financial Corporation (945 HK) joined China’s insurance and asset management with the country’s swelling demand. The company also hopes to explore pension and annuity market in Mainland China as well. Robert A. Cook, Senior Executive Vice President and General Manager, Asia for Manulife, noted yesterday that the company has covered businesses in 46 cities in Mainland China, most of which are located on the east coast. Mid and western cities such as Chong Qing hold multiple business opportunities. (Hong Kong Economic Journal P6)
MIE Holdings Corporation (1555 HK) intends to acquire an oil and gas project in Kazakhstan for US$170 million. It has entered into an agreement with BMB Munia. Shares of MIE Holdings went down 5.4 per cent yesterday. (SingTao Daily B3)
The Bank of East Asia (“BEA”) (23 HK) was pleased to announce that the net profit of BEA in 2010 surged by 62.2 per cent to HK$4224 million, exceeding the peak in 2007, and created a historical high, which was far better over market expectations. The effect on banks’ capital brought by Basel capital accord III remained unclear; BEA lowered its dividend payout ratio last year on annual basis. (Hong Kong Economic Journal P4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
IPO: Hutchison Port Holdings Trust kicked off roadshow yesterday, aiming to raise almost HK$50 billion. Deutsche Bank and Goldman Sachs are underwriters to the IPO. (SingTao Daily B1)
The bleak situation lingered in January for BYD Company Limited (“BYD”) (1211 HK). BYD’s automobile sales in Jan only amounted to 52,000, down by 15 per cent over the same period last year. BYD projected sales volume of 620,000, or up 20 percent for this year. (Hong Kong Economic Journal P6)
China SCE Property Holdings (1966 HK) announced yesterday that its Jan contracted sales rose 9.6 times yoy to 650 million yuan. (SingTao Daily B4)
According to reports from CCTV, CNOOC (883 HK) plans to spend 350 billion yuan in the coming 5 years for the company’s offshore oil exploration and production, over 20 billion yuan of which will be used for constructing deep-water equipments. (Hong Kong Economic Journal P6)
When People’s Bank of China increased interest rates coupled with tightening monetary policies, markets began to concern about property prospect. Evergrande Real Estate (3333 HK) denied issuing bonds. The company’s current debt ratio reads approximately 31 percent and it intends to maintain the debt ratio within 40 percent this year. (Hong Kong Economic Times A10)
Guoco Group Limited (53 HK) announced interim results for the six months ended 31 December 2010. Although the company’s revenue dipped, profit attributable to shareholders of the company totalled HK$3842 million, or up by 261 per cent for the six months ended 31 December 2010. The company’s interim dividend per share was HK$1.00, up by 25 per cent over that in 2009. (Hong Kong Economic Times A9)
Hengli Properties Development's (169 HK) subsidiary Fujian Zhonglu Real Estate has entered into a long-term lease agreement with a leading retail department store group listed on the Shanghai Stock Exchange. It will lease the commercial podium of Hengli City to the group. (SingTao Daily B2)
Hua Xia Healthcare (8143 HK) booked net profit of HK$44 million for the 9 months ended 31 Dec 2010. EPS amounted to 4.46 HK cents. (SingTao Daily B2)
Husky Energy under Hutchison Whampoa (13 HK) earned C$305 million in Q4, down 5 per cent. Full-yr profit dropped 17 per cent. (SingTao Daily B2)
Kaisa Group (1638 HK) announces that its full-year contracted sales target to be 15 billion yuan, up 50 per cent yoy. (SingTao Daily B4)
Lam Soon (Hong Kong) Limited (411 HK) announced interim financial results. The company’s interim net profit attributable to shareholders was HK$62.81 million, or down by 12.1 per cent on a year-on-year basis. Turnover was HK$1,288 million representing 15 per cent growth when compared with the previous corresponding period. (Hong Kong Economic Journal P6)
Manulife Financial Corporation (945 HK) joined China’s insurance and asset management with the country’s swelling demand. The company also hopes to explore pension and annuity market in Mainland China as well. Robert A. Cook, Senior Executive Vice President and General Manager, Asia for Manulife, noted yesterday that the company has covered businesses in 46 cities in Mainland China, most of which are located on the east coast. Mid and western cities such as Chong Qing hold multiple business opportunities. (Hong Kong Economic Journal P6)
MIE Holdings Corporation (1555 HK) intends to acquire an oil and gas project in Kazakhstan for US$170 million. It has entered into an agreement with BMB Munia. Shares of MIE Holdings went down 5.4 per cent yesterday. (SingTao Daily B3)
The Bank of East Asia (“BEA”) (23 HK) was pleased to announce that the net profit of BEA in 2010 surged by 62.2 per cent to HK$4224 million, exceeding the peak in 2007, and created a historical high, which was far better over market expectations. The effect on banks’ capital brought by Basel capital accord III remained unclear; BEA lowered its dividend payout ratio last year on annual basis. (Hong Kong Economic Journal P4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, February 15, 2011
Hong Kong Stock Market Wrap Feburary 14th, 2011
IPO: Sinosoft Technology PLC (“Sinosoft Technology”) planned to launch its IPO in Hong Kong this year. Sinosoft Technology’s business is the development and sale of software products, the provision of software related services and systems integration, including export tax software, e-Government software and information integration software. Alibaba.com Ltd. bought a 25% stake in Sinosoft Technology PLC for CNY170 million early this month. (Hong Kong Economic Journal P6)
Ausnutria Dairy (1717 HK) expects 2010 profit attributable to the shareholders to decline by 30 to 40 per cent, which are primarily due to an increase in advertising and promotion activities after listing, a temporary decrease in revenue as a result of the restructuring of the distribution system and an increase in operating expenses for the establishment of sales offices and expansion of sales forces in key markets, etc. (SingTao Daily B2)
Brilliance China Automotive Holdings Limited (“Brilliance China”) (1114 HK) issued positive profit alert yesterday. Brilliance China is expected to record a net profit for the year ended in 31st December 2010 as compared to a net loss for the year ended in 31st December 2009. This good performance is mainly attributable to the significant increase in the sales volume of BMW sedans produced by BMW Brilliance Automotive Ltd., the Company’s 50% indirectly owned jointly controlled entity, and the discontinuation of the Zhonghua sedan business. (Hong Kong Economic Journal P4)
Dr. Li Minji, Board Chairman of Capinfo Company Limited (“Capinfo”) (1075 HK), notes Capinfo will carry out direct charges on services of top-notch information technology of the company. Capinfo initially sets revenue targeted at 1 billion yuan. Dr. Li also says that in the past three years, Capinfo has already paid dividends to its shareholders at amount of 115 million yuan. Capinfo does not intend to issue TDR. (Hong Kong Economic Journal P10)
China Shenhua Energy Company (1088 HK) posted Jan commercial coal production of 21.5 million tonnes, up 10.8 per cent yoy. Coal sales reached 27.9 million tonnes, up 15.8 per cent, of which export dropped 33.3 per cent. (SingTao Daily B2)
Geely Automobile Holdings (175 HK) announces that its Jan total sales volume was 45,634 units, up around 4 per cent yoy, down almost 19 per cent from the record high level achieved in Dec. (SingTao Daily B1)
Great Wall Motor (2333 HK) expects its 2010 profit attributable to equity holders to increase by more than 50 per cent, which is mainly attributable to an increase in sales of automobiles. (SingTao Daily B1)
Hutchison Whampoa Limited (“the company”) (13 HK) announced that on 31 January 2011, the Hong Kong Stock Exchange confirmed that the Company may proceed with the proposed spin-off of HPH Trust, and on 14 February 2011, HPH Management received an eligibility to list letter from the SGX-ST, subject to the fulfilment of certain customary conditions. The Company’s EBITDA is expected to see increase for this year and next year. (Hong Kong Economic Times A7)
NagaCorp (3918 HK) saw net profit climb around 73 per cent to about US$44 million for the year ended 31 Dec 2010. EPS amounted to 2.12 US cents. Proposed final dividend was 0.77 US cent a share. (SingTao Daily B2)
Sources said that Orange Sky Golden Harvest Entertainment (Holdings) Limited (“the company”) (1132 HK) postponed to issue RMB bonds. It is reported that the company continues to negotiate with investors and watch market moves. RMB bond subscription received less satisfying feedback from investors, sources said. (Hong Kong Economic Journal P10)
Labour-intensive enterprises set their paces into industrial automation along with the increase of labour costs. Mr. Lin Guangru, CEO of Starlite Holdings Limited (“Starlite”) (403 HK), noted industrial automation should be the trend for future development of enterprises. Starlite automated some paper rolling related processes in its packaging business. Starlite also aims to realize environmental production technology. (Hong Kong Economic Journal P8)
Sunlight REIT (435 HK) reported a turnover of HK$262.5 million for the 6 months ended 31 Dec 2010, a 9.4 per cent yoy growth. Net property income came in at HK$199.9 million, up 10.9 per cent yoy. The total distributable income rose 43.8 per cent yoy to HK$127.8 million. (SingTao Daily B4)
Xiamen International Port Co., Ltd (“the company’) (3378 HK) issued positive profit alert. The company is expected to record an increase of approximately 50 per cent in its unaudited net profit for the year ended 31 December 2010 as compared to the net profit of the company for the year ended 31 December 2009. (Hong Kong Economic Times A8)
Zijin Mining Group (2899 HK) announces that its wholly-owned subsidiaries Xinyi Zijin and Xinyi Baoyuan have received notices of response to proceedings, notifying them that the Guangdong Province Xinyi City People’s Court has determined that it will hear the proceedings commenced by 852 villagers in relation to a claim of compensation of around 171 million yuan. (SingTao Daily B2)
ZTE (763 HK) is reported to secure contract sales worth up to 100 billion yuan and a growth rate of 26 per cent last year. It has reportedly achieved 29 per cent growth of its contract sales in overseas markets and 22 per cent growth in the domestic market. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Ausnutria Dairy (1717 HK) expects 2010 profit attributable to the shareholders to decline by 30 to 40 per cent, which are primarily due to an increase in advertising and promotion activities after listing, a temporary decrease in revenue as a result of the restructuring of the distribution system and an increase in operating expenses for the establishment of sales offices and expansion of sales forces in key markets, etc. (SingTao Daily B2)
Brilliance China Automotive Holdings Limited (“Brilliance China”) (1114 HK) issued positive profit alert yesterday. Brilliance China is expected to record a net profit for the year ended in 31st December 2010 as compared to a net loss for the year ended in 31st December 2009. This good performance is mainly attributable to the significant increase in the sales volume of BMW sedans produced by BMW Brilliance Automotive Ltd., the Company’s 50% indirectly owned jointly controlled entity, and the discontinuation of the Zhonghua sedan business. (Hong Kong Economic Journal P4)
Dr. Li Minji, Board Chairman of Capinfo Company Limited (“Capinfo”) (1075 HK), notes Capinfo will carry out direct charges on services of top-notch information technology of the company. Capinfo initially sets revenue targeted at 1 billion yuan. Dr. Li also says that in the past three years, Capinfo has already paid dividends to its shareholders at amount of 115 million yuan. Capinfo does not intend to issue TDR. (Hong Kong Economic Journal P10)
China Shenhua Energy Company (1088 HK) posted Jan commercial coal production of 21.5 million tonnes, up 10.8 per cent yoy. Coal sales reached 27.9 million tonnes, up 15.8 per cent, of which export dropped 33.3 per cent. (SingTao Daily B2)
Geely Automobile Holdings (175 HK) announces that its Jan total sales volume was 45,634 units, up around 4 per cent yoy, down almost 19 per cent from the record high level achieved in Dec. (SingTao Daily B1)
Great Wall Motor (2333 HK) expects its 2010 profit attributable to equity holders to increase by more than 50 per cent, which is mainly attributable to an increase in sales of automobiles. (SingTao Daily B1)
Hutchison Whampoa Limited (“the company”) (13 HK) announced that on 31 January 2011, the Hong Kong Stock Exchange confirmed that the Company may proceed with the proposed spin-off of HPH Trust, and on 14 February 2011, HPH Management received an eligibility to list letter from the SGX-ST, subject to the fulfilment of certain customary conditions. The Company’s EBITDA is expected to see increase for this year and next year. (Hong Kong Economic Times A7)
NagaCorp (3918 HK) saw net profit climb around 73 per cent to about US$44 million for the year ended 31 Dec 2010. EPS amounted to 2.12 US cents. Proposed final dividend was 0.77 US cent a share. (SingTao Daily B2)
Sources said that Orange Sky Golden Harvest Entertainment (Holdings) Limited (“the company”) (1132 HK) postponed to issue RMB bonds. It is reported that the company continues to negotiate with investors and watch market moves. RMB bond subscription received less satisfying feedback from investors, sources said. (Hong Kong Economic Journal P10)
Labour-intensive enterprises set their paces into industrial automation along with the increase of labour costs. Mr. Lin Guangru, CEO of Starlite Holdings Limited (“Starlite”) (403 HK), noted industrial automation should be the trend for future development of enterprises. Starlite automated some paper rolling related processes in its packaging business. Starlite also aims to realize environmental production technology. (Hong Kong Economic Journal P8)
Sunlight REIT (435 HK) reported a turnover of HK$262.5 million for the 6 months ended 31 Dec 2010, a 9.4 per cent yoy growth. Net property income came in at HK$199.9 million, up 10.9 per cent yoy. The total distributable income rose 43.8 per cent yoy to HK$127.8 million. (SingTao Daily B4)
Xiamen International Port Co., Ltd (“the company’) (3378 HK) issued positive profit alert. The company is expected to record an increase of approximately 50 per cent in its unaudited net profit for the year ended 31 December 2010 as compared to the net profit of the company for the year ended 31 December 2009. (Hong Kong Economic Times A8)
Zijin Mining Group (2899 HK) announces that its wholly-owned subsidiaries Xinyi Zijin and Xinyi Baoyuan have received notices of response to proceedings, notifying them that the Guangdong Province Xinyi City People’s Court has determined that it will hear the proceedings commenced by 852 villagers in relation to a claim of compensation of around 171 million yuan. (SingTao Daily B2)
ZTE (763 HK) is reported to secure contract sales worth up to 100 billion yuan and a growth rate of 26 per cent last year. It has reportedly achieved 29 per cent growth of its contract sales in overseas markets and 22 per cent growth in the domestic market. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, February 14, 2011
Hong Kong Stock Market Wrap Feburary 11th, 2011
Agricultural Bank of China (“the bank”) (1288 HK) yesterday announced that the bank intended to subscribe for approximately 1.037 billion new shares of Jiahe Life Insurance Company Limited with the subscription amount of approximately 2,592 million yuan. Agricultural Bank of China noted that this move should bring great potential in China’s insurance market and promising profitability to the bank. (Sing Tao Daily B14)
Along with the construction boom of high-speed railways, airports, nuclear power plants, water conservancy facilities and other building projects supported by national policies, An Hui Conch Cement Company (“the company”) (914 HK) is to enter into a business boom this year. It is anticipated that the company will see 50 per cent year-on-year increase in profits in 2010, or at least HK$5.316 billion for the whole year. (Sing Tao Daily B10)
China National Building Material Company Limited (“the company”) (3323 HK) is the dominant company in China’s building material industry. National policies indicated that the government intended to increase efforts in building affordable housing projects, which would definitely boost the demand of building materials. The company points out that they will reduce capital expenditure dramatically in 2011. (Sing Tao Daily B10)
PetroChina Company Limited (857 HK) and Encana Corporation signed a Co-operation Agreement, that PetroChina would acquire a 50 percent interest in Encana’s Cutbank Ridge business assets in British Columbia and Alberta, Canada at a consideration of C$5.4 billion (HK$42.2 billion). PetroChina has outstanding overall advantages in petroleum exploration and production, engineering design and field operation services around the world, while Encana is a world leader in the development of unconventional natural gas business. PetroChina is confident that this strong alliance will boost the company’s unconventional natural gas business. (Hong Kong Economic Journal P4)
Poly (Hong Kong) Investments Limited (119 HK) saw HK$1.05 billion in contract sales for January; sales areas amounted to 119,000 square meters. The company did not launch on new property sales during this period. (Hong Kong Economic Times A6)
Mr. William Chan, Executive Director of Sundart International Holdings Limited (2288 HK), noted that the company entered into subscription of 29 per cent of stake interest in KaiLong REI Investment Consulting (Shanghai) Co., Ltd. (KaiLong REI). The company intends to acquire decoration contracts in Mainland China totaling 300 million yuan to 400 million yuan this year. The company also takes part in Macau’s decoration projects. (Hong Kong Economic Journal P5)
Wynn Macau (1128 HK), Limited is pleased to announce the unaudited consolidated results of the Company and its subsidiaries prepared in accordance with the International Financial Reporting Standards (“IFRS”) for the fourth quarter ended 31 December 2010. The company witnessed 1.7 fold of increase in net profits, or up to US$209 million (HK$1.629 billion), outpacing market expectations. (Hong Kong Economic Journal P4)
Beijing Capital Land (2868 HK) booked Jan contracted sales of 1.18 billion yuan, climbing 1.04x yoy. (SingTao Daily B6)
Celestial Asia Securities (1049 HK) announces that Moli Group and Oberon Media will form a JV. Moli Group will acquire 89.7 per cent equity interest in Oberon Information Technology (Suzhou) Co. from Oberon Media. The consideration is set at about US$10 million. US$3 million of which will be settled by issuing CASH consideration shares at HK$0.724 each.
(Hong Kong Economic Journal P8)
Morgan Stanley suggests buying China Oilfield Services (2883 HK) shares, saying that its profit will go up on rising production capacity in the next 12-18 months. (Hong Kong Economic Times A3)
Fittec International (2662 HK) expects a substantial loss for the 6 months ended Dec 31, 2010, which was mainly attributable to impairment loss on production facilities and inventory in one of its subsidiaries. The company estimates that the amount of impairment loss might amount to about HK$30.7 million. (Hong Kong Economic Journal P8)
HSBC (2689 HK) recommends picking up shares in Nine Dragons Paper (Holdings), saying that paper companies’ costs have not gone up amid inflation and that demand for papers has been strong from Jul to now. (Hong Kong Economic Times A3)
Shanghai Jin Jiang International Hotels (2006 HK) announces that the China Securities Regulatory Commission has approved its plan to acquire assets from its parent. The company will acquire equity interest in Jin Jiang Investment and Jin Jiang Travel from its parent. (SingTao Daily B6)
Macquarie suggests picking up Sun Hung Kai Properties (16 HK) shares, saying that short supply in residential properties will lend support to the housing prices. It reiterates an Outperform rating on the company, upping its price target to HK$162.4. (Hong Kong Economic Times A3)
The Bank of East Asia (23 HK) will announce 2010 results tomorrow. Securities firms expect the bank’s net profit to go up 31-67pc yoy. JP Morgan maintains an Overweight rating on the bank. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Along with the construction boom of high-speed railways, airports, nuclear power plants, water conservancy facilities and other building projects supported by national policies, An Hui Conch Cement Company (“the company”) (914 HK) is to enter into a business boom this year. It is anticipated that the company will see 50 per cent year-on-year increase in profits in 2010, or at least HK$5.316 billion for the whole year. (Sing Tao Daily B10)
China National Building Material Company Limited (“the company”) (3323 HK) is the dominant company in China’s building material industry. National policies indicated that the government intended to increase efforts in building affordable housing projects, which would definitely boost the demand of building materials. The company points out that they will reduce capital expenditure dramatically in 2011. (Sing Tao Daily B10)
PetroChina Company Limited (857 HK) and Encana Corporation signed a Co-operation Agreement, that PetroChina would acquire a 50 percent interest in Encana’s Cutbank Ridge business assets in British Columbia and Alberta, Canada at a consideration of C$5.4 billion (HK$42.2 billion). PetroChina has outstanding overall advantages in petroleum exploration and production, engineering design and field operation services around the world, while Encana is a world leader in the development of unconventional natural gas business. PetroChina is confident that this strong alliance will boost the company’s unconventional natural gas business. (Hong Kong Economic Journal P4)
Poly (Hong Kong) Investments Limited (119 HK) saw HK$1.05 billion in contract sales for January; sales areas amounted to 119,000 square meters. The company did not launch on new property sales during this period. (Hong Kong Economic Times A6)
Mr. William Chan, Executive Director of Sundart International Holdings Limited (2288 HK), noted that the company entered into subscription of 29 per cent of stake interest in KaiLong REI Investment Consulting (Shanghai) Co., Ltd. (KaiLong REI). The company intends to acquire decoration contracts in Mainland China totaling 300 million yuan to 400 million yuan this year. The company also takes part in Macau’s decoration projects. (Hong Kong Economic Journal P5)
Wynn Macau (1128 HK), Limited is pleased to announce the unaudited consolidated results of the Company and its subsidiaries prepared in accordance with the International Financial Reporting Standards (“IFRS”) for the fourth quarter ended 31 December 2010. The company witnessed 1.7 fold of increase in net profits, or up to US$209 million (HK$1.629 billion), outpacing market expectations. (Hong Kong Economic Journal P4)
Beijing Capital Land (2868 HK) booked Jan contracted sales of 1.18 billion yuan, climbing 1.04x yoy. (SingTao Daily B6)
Celestial Asia Securities (1049 HK) announces that Moli Group and Oberon Media will form a JV. Moli Group will acquire 89.7 per cent equity interest in Oberon Information Technology (Suzhou) Co. from Oberon Media. The consideration is set at about US$10 million. US$3 million of which will be settled by issuing CASH consideration shares at HK$0.724 each.
(Hong Kong Economic Journal P8)
Morgan Stanley suggests buying China Oilfield Services (2883 HK) shares, saying that its profit will go up on rising production capacity in the next 12-18 months. (Hong Kong Economic Times A3)
Fittec International (2662 HK) expects a substantial loss for the 6 months ended Dec 31, 2010, which was mainly attributable to impairment loss on production facilities and inventory in one of its subsidiaries. The company estimates that the amount of impairment loss might amount to about HK$30.7 million. (Hong Kong Economic Journal P8)
HSBC (2689 HK) recommends picking up shares in Nine Dragons Paper (Holdings), saying that paper companies’ costs have not gone up amid inflation and that demand for papers has been strong from Jul to now. (Hong Kong Economic Times A3)
Shanghai Jin Jiang International Hotels (2006 HK) announces that the China Securities Regulatory Commission has approved its plan to acquire assets from its parent. The company will acquire equity interest in Jin Jiang Investment and Jin Jiang Travel from its parent. (SingTao Daily B6)
Macquarie suggests picking up Sun Hung Kai Properties (16 HK) shares, saying that short supply in residential properties will lend support to the housing prices. It reiterates an Outperform rating on the company, upping its price target to HK$162.4. (Hong Kong Economic Times A3)
The Bank of East Asia (23 HK) will announce 2010 results tomorrow. Securities firms expect the bank’s net profit to go up 31-67pc yoy. JP Morgan maintains an Overweight rating on the bank. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, February 11, 2011
Hong Kong Stock Market Wrap Feburary 10th, 2011
AIA Group Limited (1299 HK) (“the company”) is expected to witness 18 per cent of new business value in 2011. The company entered into an agreement of cooperation with ICBC (1398) to expand insurance markets in Mainland China. (Sing Tao Daily B11)
According to HKEx, Capital Research sold 25.57 million shares in Agricultural Bank of China (1288 HK) at HK$3.814 each on average on 7 Feb. (Hong Kong Economic Times A10)
Aluminum Corporation of China Limited (CHALCO) (2600 HK), holding approximately 9 per cent of equity interest of Rio Tinto, announced that they would not underweight Rio Tinto. Benefited from growing copper prices, Rio Tinto had satisfying performance in 2010 and the company’s net profit surged to US$14.32 billion last year. The net profit of CHALCO increased nearly 20 per cent last year. (Sing Tao Daily B4)
China Longyuan Power Group’s (916 HK) Jan power generation amounted to 2.373 million MWh, an increase of 18.98 per cent yoy, mainly boosted by the increase in wind power generation. (Hong Kong Economic Times A10)
China Overseas Land & Investment Limited (“the company”) (688 HK) announced that the building revenue of this company reached HK$7.77 billion, or up 89.3 per cent year-on-year. In January, the company built five new projects in Changsha, Changchun, Zhongshan and Yantai. (Sing Tao Daily B3)
According to Reuters, Cheung Kong’s (1 HK) RMB REITs planned to go public in Hong Kong before the end of March, raising funds of approximately US$1.5b (9.9 billion yuan), the fund value is expected to reach no more than 33 billion yuan. Assets of this fund include property-leasing businesses of Beijing New Oriental Plaza. (Sing Tao Daily B2)
Esprit Holdings (330 HK) posted net profit of HK$2,140 million for the 6 months ended 31 Dec 2010, down 20 per cent. Turnover amounted to HK$ 17.693 billion. Gross profit margin rose to 55.6 per cent. It has declared an interim dividend of HK$1 per share (Hong Kong Economic Journal P4)
Hong Kong Resources Holdings Company Limited (“the company”) (2882 HK), wholly owner of 3D-Gold Jewellery, is seeking joint-venture opportunities with diamond bands overseas and the company is also making efforts in expand the company’s gift business in China. Kennedy Wong Ying-ho, Chairman of Hong Kong Resources Holdings, said he anticipated 3D-Gold to improve diamond business while decreasing the proportion of gold business in the company. (Sing Tao Daily B4)
The resignation of North Asia Resources’ (61 HK) executive directors King Jun Chih Joseph and Chan Kwan Hung constitutes a breach of subscription agreements with a CB subscriber. The subscriber says it may exercise its right to require the company to redeem the CBs unless the company will notify it immediately on each occasion after the company has withdrawn US$1 million or more out of the bank account where proceeds from the CBs are credited and the company will submit to it a copy of the bi-weekly electronic bank statements in relation to the account within 3 business days after the end of each of the reporting period. North Asia Resources has resolved to accept the offer. (Hong Kong Economic Journal P8)
Shandong Molong Petroleum Machinery (568 HK) yesterday received a “Notification of Successful Bid” that it successfully bid for an order of 14,016 tons of oil country tubular goods, which account for 40.05 per cent of the total target tender from China National Offshore Oil Corporation for 1H11. (Hong Kong Economic Journal P8)
Shanghai Forte Land (2337 HK) announces that Jan contractual sales area and sales amount were 63,400 square metres and 692 million yuan respectively. (Hong Kong Economic Times A10)
Mr. Li Dajun, CEO of Smartone Telecommunications Holdings Limited (315 HK), said that 80 per cent of new customers who signed up with Smartone during these two months are iPhone, Android and Blackberry users. The company intended to invest HK$650 million to upgrade its networks and capacity expansion. Mr. Li also noted that the company applied to bid for the spectrum auction at the end of this month. (Sing Tao Daily B3)
Texhong Textile Group Limited (“the company”) (2678 HK) is exploring production expansion projects in Vietnam. It is anticipated that the output of the company’s production plants in Vietnam will account up to 60 percent of its total production capability after year 2012. The company’s profits are expected higher. (Sing Tao Daily B11)
The Wharf (Holdings) (4 HK) proposes to raise HK$10,052 million before expenses by way of a rights issue of around 275 million shares at HK$36.5 per share on the basis of 1 rights share for every 10 existing shares. Underwriter to the issue is Wheelock And Company (0020). (Hong Kong Economic Journal P2)
PetroChina Co Ltd. (857 HK) announced that it has agreed to buy a 50-percent stake in a natural gas project with North American gas giant Encana Corporation for 5.4 billion Canadian dollars (HK$42.2 billion). The cooperation agreement between Encana and PetroChina International Investment Company Limited allows PetroChina to acquire a 50-percent interest in Encana's Cutbank Ridge business assets in British Columbia and Alberta, Canada. The assets cover 1.3 million acres of land, with a gas processing capacity of approximately 700 million cubic feet per day, 3,400 kilometers of pipelines and underground gas storage. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
According to HKEx, Capital Research sold 25.57 million shares in Agricultural Bank of China (1288 HK) at HK$3.814 each on average on 7 Feb. (Hong Kong Economic Times A10)
Aluminum Corporation of China Limited (CHALCO) (2600 HK), holding approximately 9 per cent of equity interest of Rio Tinto, announced that they would not underweight Rio Tinto. Benefited from growing copper prices, Rio Tinto had satisfying performance in 2010 and the company’s net profit surged to US$14.32 billion last year. The net profit of CHALCO increased nearly 20 per cent last year. (Sing Tao Daily B4)
China Longyuan Power Group’s (916 HK) Jan power generation amounted to 2.373 million MWh, an increase of 18.98 per cent yoy, mainly boosted by the increase in wind power generation. (Hong Kong Economic Times A10)
China Overseas Land & Investment Limited (“the company”) (688 HK) announced that the building revenue of this company reached HK$7.77 billion, or up 89.3 per cent year-on-year. In January, the company built five new projects in Changsha, Changchun, Zhongshan and Yantai. (Sing Tao Daily B3)
According to Reuters, Cheung Kong’s (1 HK) RMB REITs planned to go public in Hong Kong before the end of March, raising funds of approximately US$1.5b (9.9 billion yuan), the fund value is expected to reach no more than 33 billion yuan. Assets of this fund include property-leasing businesses of Beijing New Oriental Plaza. (Sing Tao Daily B2)
Esprit Holdings (330 HK) posted net profit of HK$2,140 million for the 6 months ended 31 Dec 2010, down 20 per cent. Turnover amounted to HK$ 17.693 billion. Gross profit margin rose to 55.6 per cent. It has declared an interim dividend of HK$1 per share (Hong Kong Economic Journal P4)
Hong Kong Resources Holdings Company Limited (“the company”) (2882 HK), wholly owner of 3D-Gold Jewellery, is seeking joint-venture opportunities with diamond bands overseas and the company is also making efforts in expand the company’s gift business in China. Kennedy Wong Ying-ho, Chairman of Hong Kong Resources Holdings, said he anticipated 3D-Gold to improve diamond business while decreasing the proportion of gold business in the company. (Sing Tao Daily B4)
The resignation of North Asia Resources’ (61 HK) executive directors King Jun Chih Joseph and Chan Kwan Hung constitutes a breach of subscription agreements with a CB subscriber. The subscriber says it may exercise its right to require the company to redeem the CBs unless the company will notify it immediately on each occasion after the company has withdrawn US$1 million or more out of the bank account where proceeds from the CBs are credited and the company will submit to it a copy of the bi-weekly electronic bank statements in relation to the account within 3 business days after the end of each of the reporting period. North Asia Resources has resolved to accept the offer. (Hong Kong Economic Journal P8)
Shandong Molong Petroleum Machinery (568 HK) yesterday received a “Notification of Successful Bid” that it successfully bid for an order of 14,016 tons of oil country tubular goods, which account for 40.05 per cent of the total target tender from China National Offshore Oil Corporation for 1H11. (Hong Kong Economic Journal P8)
Shanghai Forte Land (2337 HK) announces that Jan contractual sales area and sales amount were 63,400 square metres and 692 million yuan respectively. (Hong Kong Economic Times A10)
Mr. Li Dajun, CEO of Smartone Telecommunications Holdings Limited (315 HK), said that 80 per cent of new customers who signed up with Smartone during these two months are iPhone, Android and Blackberry users. The company intended to invest HK$650 million to upgrade its networks and capacity expansion. Mr. Li also noted that the company applied to bid for the spectrum auction at the end of this month. (Sing Tao Daily B3)
Texhong Textile Group Limited (“the company”) (2678 HK) is exploring production expansion projects in Vietnam. It is anticipated that the output of the company’s production plants in Vietnam will account up to 60 percent of its total production capability after year 2012. The company’s profits are expected higher. (Sing Tao Daily B11)
The Wharf (Holdings) (4 HK) proposes to raise HK$10,052 million before expenses by way of a rights issue of around 275 million shares at HK$36.5 per share on the basis of 1 rights share for every 10 existing shares. Underwriter to the issue is Wheelock And Company (0020). (Hong Kong Economic Journal P2)
PetroChina Co Ltd. (857 HK) announced that it has agreed to buy a 50-percent stake in a natural gas project with North American gas giant Encana Corporation for 5.4 billion Canadian dollars (HK$42.2 billion). The cooperation agreement between Encana and PetroChina International Investment Company Limited allows PetroChina to acquire a 50-percent interest in Encana's Cutbank Ridge business assets in British Columbia and Alberta, Canada. The assets cover 1.3 million acres of land, with a gas processing capacity of approximately 700 million cubic feet per day, 3,400 kilometers of pipelines and underground gas storage. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, February 10, 2011
Hong Kong Stock Market Wrap Feburary 9th, 2011
IPO: China 33 Media Group plans to list on the GEM board on 28 Feb to raise 300 million to 400 million. Market sources say it will kick off roadshow next week. (Hong Kong Economic Times A10)
China Kangda Food Company (834 HK) expects a significant decline in the consolidated net profit for the year ended 31 Dec 2010, which is mainly attributable to an increase in the operating costs, including labour and raw materials costs in the PRC and an oversupply of chicken meat products to the PRC domestic market resulting from keen competition. (Hong Kong Economic Journal P4)
China Star Entertainment (326 HK) has entered into a subscription agreement with Eternity Investment (0764). It has agreed to issue CBs in the maximum principal amount of HK$650 million in 2 tranches at their face value to the latter. It intends to apply the net proceeds of HK$100 million to satisfy part of the total consideration for acquiring property leasehold right of certain sites. (Hong Kong Economic Journal P6)
CK Life Sciences (775 HK) announced yesterday that the company completed acquisition of 72.26 per cent of equity interest of Australian and New Zealand Vineyard’s Challenger Wine Trust (CWT). The acquisition will enhance CK Life Sciences’ agricultural investment portfolio. Related capitals will bring cash flexibility to the company. (Sing Tao Daily B4)
Climax International Company (439 HK) announced that the company entered into a conditional sale and purchase agreement with an independent third party. Climax International agreed to purchase the entire issued share capital of a company which, together with its subsidiaries, is principally engaged in manufacture and sale of paper packaging products and paper gift items and the printing of paper promotional materials. (Sing Tao Daily B4)
CST Mining Group’s (985 HK) copper ores came into production at the end of last year. CST Mining projects increasing output this year. In respect of the surging appreciation of Australian dollar, which triggered the increasing cost of copper production (cost per pound at US$1.5 to US$1.6), the expanding production of the company will offset the negative effect to some extent. (Sing Tao Daily B8)
CT Holdings (International) (1008 HK) expects a significant drop in net profit for the year ended 31 Dec 2010, which was primarily caused by a significant increase in cost of goods sold due to the upsurge in cost of raw materials and direct manufacturing costs. In addition, an increase in freight and transportation cost had also resulted in the decrease. (Hong Kong Economic Journal P4)
ePRO (8086 HK) recorded net profit attributable to shareholders of HK$18.59 million for the 6 months ended 31 Dec 2010, jumping 11.3x yoy. It does not recommend the payment of interim dividend. (Hong Kong Economic Journal P6)
Securities firms in general expect Esprit Holdings’ (330 HK) interim profit to go down around 20 per cent. Daiwa Institute of Research lowers its target price for the company to HK$36.2, maintaining a Hold rating. (Hong Kong Economic Times A10)
Finet Group’s (8317 HK) consolidated loss for the 9 months ended 31 Dec 2010 was HK$26.76 million. Turnover amounted to HK$26.8 million, a yoy increase of 12 per cent. The company does not recommend the payment of dividend. (Hong Kong Economic Journal P6)
Industrial Bank, (11 HK) whose partial interests held by Hang Seng Bank, plans to buy a 51-percent stake of Union Trust for 852 million yuan (US$129 million) from investors including New Hope Group, the Fujian Province-based lender. (Sing Tao Daily B4)
Hong Kong Exchanges and Clearing Limited (388 HK) will carry out renminbi new shares system testing in March. Sun Hung Kai & Co. (0086) said they were fully prepared for the coming new RMB IPO. The company said it could borrow renminbi from banks to cope with money exchange problems. The flexibility of margins is yet to be settled. (Sing Tao Daily B4)
Peak Sport (1968 HK) witnessed an annual growth rate of 13 per cent in revenue in the fourth quarter in 2010, taking the lead among its rivals. Peak Sport is the only one sports company in Mainland China that builds partner relationship with US’ NBA. Peak Sport projects to increase 800 new shops and the total number of shops will exceed 8,000. (Sing Tao Daily B9)
The acquisition of hawthorn tea business boosts Sewco International’s (209 HK) profits. Sew International is the first company that introduces hawthorn tea business to the market and has a stable supply from hawthorn orchards. The company planned to optimise its product portfolio and build new production lines to increase its output and expand its market. (Sing Tao Daily B9)
Second-tier domestic (1368 HK) sports brands dashed into digit increase. Xtep announced yesterday that the company’s orders for the third quarter increased 24 per cent at annual growth rate, which is benefited from the augmentation of orders and the increase of average sale price. Orders of shoes and clothes recorded double digit year-on-year increase. (Sing Tao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Kangda Food Company (834 HK) expects a significant decline in the consolidated net profit for the year ended 31 Dec 2010, which is mainly attributable to an increase in the operating costs, including labour and raw materials costs in the PRC and an oversupply of chicken meat products to the PRC domestic market resulting from keen competition. (Hong Kong Economic Journal P4)
China Star Entertainment (326 HK) has entered into a subscription agreement with Eternity Investment (0764). It has agreed to issue CBs in the maximum principal amount of HK$650 million in 2 tranches at their face value to the latter. It intends to apply the net proceeds of HK$100 million to satisfy part of the total consideration for acquiring property leasehold right of certain sites. (Hong Kong Economic Journal P6)
CK Life Sciences (775 HK) announced yesterday that the company completed acquisition of 72.26 per cent of equity interest of Australian and New Zealand Vineyard’s Challenger Wine Trust (CWT). The acquisition will enhance CK Life Sciences’ agricultural investment portfolio. Related capitals will bring cash flexibility to the company. (Sing Tao Daily B4)
Climax International Company (439 HK) announced that the company entered into a conditional sale and purchase agreement with an independent third party. Climax International agreed to purchase the entire issued share capital of a company which, together with its subsidiaries, is principally engaged in manufacture and sale of paper packaging products and paper gift items and the printing of paper promotional materials. (Sing Tao Daily B4)
CST Mining Group’s (985 HK) copper ores came into production at the end of last year. CST Mining projects increasing output this year. In respect of the surging appreciation of Australian dollar, which triggered the increasing cost of copper production (cost per pound at US$1.5 to US$1.6), the expanding production of the company will offset the negative effect to some extent. (Sing Tao Daily B8)
CT Holdings (International) (1008 HK) expects a significant drop in net profit for the year ended 31 Dec 2010, which was primarily caused by a significant increase in cost of goods sold due to the upsurge in cost of raw materials and direct manufacturing costs. In addition, an increase in freight and transportation cost had also resulted in the decrease. (Hong Kong Economic Journal P4)
ePRO (8086 HK) recorded net profit attributable to shareholders of HK$18.59 million for the 6 months ended 31 Dec 2010, jumping 11.3x yoy. It does not recommend the payment of interim dividend. (Hong Kong Economic Journal P6)
Securities firms in general expect Esprit Holdings’ (330 HK) interim profit to go down around 20 per cent. Daiwa Institute of Research lowers its target price for the company to HK$36.2, maintaining a Hold rating. (Hong Kong Economic Times A10)
Finet Group’s (8317 HK) consolidated loss for the 9 months ended 31 Dec 2010 was HK$26.76 million. Turnover amounted to HK$26.8 million, a yoy increase of 12 per cent. The company does not recommend the payment of dividend. (Hong Kong Economic Journal P6)
Industrial Bank, (11 HK) whose partial interests held by Hang Seng Bank, plans to buy a 51-percent stake of Union Trust for 852 million yuan (US$129 million) from investors including New Hope Group, the Fujian Province-based lender. (Sing Tao Daily B4)
Hong Kong Exchanges and Clearing Limited (388 HK) will carry out renminbi new shares system testing in March. Sun Hung Kai & Co. (0086) said they were fully prepared for the coming new RMB IPO. The company said it could borrow renminbi from banks to cope with money exchange problems. The flexibility of margins is yet to be settled. (Sing Tao Daily B4)
Peak Sport (1968 HK) witnessed an annual growth rate of 13 per cent in revenue in the fourth quarter in 2010, taking the lead among its rivals. Peak Sport is the only one sports company in Mainland China that builds partner relationship with US’ NBA. Peak Sport projects to increase 800 new shops and the total number of shops will exceed 8,000. (Sing Tao Daily B9)
The acquisition of hawthorn tea business boosts Sewco International’s (209 HK) profits. Sew International is the first company that introduces hawthorn tea business to the market and has a stable supply from hawthorn orchards. The company planned to optimise its product portfolio and build new production lines to increase its output and expand its market. (Sing Tao Daily B9)
Second-tier domestic (1368 HK) sports brands dashed into digit increase. Xtep announced yesterday that the company’s orders for the third quarter increased 24 per cent at annual growth rate, which is benefited from the augmentation of orders and the increase of average sale price. Orders of shoes and clothes recorded double digit year-on-year increase. (Sing Tao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, February 9, 2011
Hong Kong Stock Market Wrap Feburary 8th, 2011
Cheung Kong Infrastructure Holdings Limited (1038 HK) entered into making an offer to E.ON (EONGn.DE) for Britain's second-largest electricity distribution network. Projected after-tax rate of return will be only 11 per cent after the transaction. (Sing Tao Daily B2)
Mr. Li Han Chun, CEO of China Forestry (930 HK), with his Top Wisdom Overseas Holdings Limited, are prohibited by Securities and Futures Commission (SFC) from involving in activities of non-compliance of China Forestry’s books and unauthorized transfer or reduction of assets worth of HK$398 million. SFC also requested Mr. Li and Top Wisdom to clearly list relevant assets of the company or they shall face a lawsuit. (Sing Tao Daily B3)
China Shenhua Energy Company (1088 HK) releases 2010 financial data prepared in accordance with the China Accounting Standards for Business Enterprises. Net profit attributable to equity shareholders amounted to 37.188 billion yuan, up 22.8 per cent yoy. Revenues reached 152.063 billion yuan, up 25.3 per cent yoy. (Hong Kong Economic Journal P5)
China Solar Energy Holdings Limited (155 HK) (China Solar Energy) planned to enter into acquisition of the entire share capital of Stream Fund High-Tech Group Corporation Limited at consideration of HK$309 million and over HK$40 million convertible notes. (Sing Tao Daily B3)
China Timber Resources Group Limited (269 HK) (China Timber Resources) invested in the Inner Mongolian coal highways and offered a great number of shares to finance for further development. Li Ka Shing Foundation was one of his new subscribers. (Sing Tao Daily B8)
Culture Landmark Investment’s (674 HK) wholly-owned subsidiary Win Castle Group has entered into an agreement with Cheng Films and Video Production to acquire 1053186 preference A shares of Xinya Media Private at a cash consideration of US$3 million. (Hong Kong Economic Journal P5)
HSBC Holdings (5 HK) reportedly plans to announce quarterly results. It is expected that the plan will be confirmed later this year or early next year. Analyst believes the move will make it more convenient for the bank to apply for a listing in the mainland. (Hong Kong Economic Journal P2)
Hycomm Wireless (499 HK) announced yesterday that Regal Power Investments Limited (Regal Power) transferred 60 million shares in the company to to Solar Fortune Investments Limited (Solar Fortune). Regal Power is wholly and beneficially owned by Mr. Chan Yuen Ming. Solar Fortune is wholly and beneficially owned by Mr. Kong Lingbiao. Solar Fortune and Mr. Kong do not hold any interest in the Company immediately before the Shares Transfer. (Sing Tao Daily B3)
In respect of US economic recovery and its upward trend, Man Wah Holdings Limited (1999 HK) embraces more business opportunities in order to answer the increasing demand from sofa markets, especially from Mainland China, which emphasized high-end and function-equipped sofas, and from the mainland’s theatres, high-speed railways and home building supplies. (Sing Tao Daily B9)
Ming Kei Holdings (8239 HK) announces that loss attributable to owners of the company was HK$97.427 million for the 9 months ended 31 Dec. Loss per share from continuing and discontinued operations was 61.91 HK cents. No dividend will be paid. (Hong Kong Economic Journal P5)
Newocean Energy Holdings Limited (Newocean Energy) (342 HK) announced that in respect of the Facility Agreement for a term loan facility in the aggregate amount of US$42 million on 28 Jan. 2011, Newocean planned to apply that amount for the purpose of refinancing. The loan to be made to the Company pursuant to the Facility Agreement will be repayable in instalments, with the last instalment falling due 48 months from the date of the Facility Agreement. (Sing Tao Daily B2)
Market sources say Sino Land Company (83 HK) will launch its residential project at 270 Cheung Sha Wan soon, providing 96 units in total. (Hong Kong Economic Times A5)
TVB (511 HK) has appointed Prudence Chan Bik-wah, former Octopus chief executive, as general manager – International Operations effective 8 Feb 2011. (Hong Kong Economic Times A7)
The Bank of East Asia (23 HK) announced that its business promotion plan--Kid Master Promotion for the Year of the Rabbit. From now until 31st May, 2011, customers under the age of 18 who open a Kid Master Savings Account with an initial deposit of just HK$1,000 will receive a gift certificate of HK$50 from McDonald’s. (Sing Tao Daily B2)
Uni-Bio Science Group (690 HK) is engaged in discussion with the stock exchange over the question as to the resumption of trading of its shares. Further announcement will be made in the event of a material development of the resumption process. Trading in its shares has been suspended since 9 Mar, 2010. (Hong Kong Economic Journal P5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Mr. Li Han Chun, CEO of China Forestry (930 HK), with his Top Wisdom Overseas Holdings Limited, are prohibited by Securities and Futures Commission (SFC) from involving in activities of non-compliance of China Forestry’s books and unauthorized transfer or reduction of assets worth of HK$398 million. SFC also requested Mr. Li and Top Wisdom to clearly list relevant assets of the company or they shall face a lawsuit. (Sing Tao Daily B3)
China Shenhua Energy Company (1088 HK) releases 2010 financial data prepared in accordance with the China Accounting Standards for Business Enterprises. Net profit attributable to equity shareholders amounted to 37.188 billion yuan, up 22.8 per cent yoy. Revenues reached 152.063 billion yuan, up 25.3 per cent yoy. (Hong Kong Economic Journal P5)
China Solar Energy Holdings Limited (155 HK) (China Solar Energy) planned to enter into acquisition of the entire share capital of Stream Fund High-Tech Group Corporation Limited at consideration of HK$309 million and over HK$40 million convertible notes. (Sing Tao Daily B3)
China Timber Resources Group Limited (269 HK) (China Timber Resources) invested in the Inner Mongolian coal highways and offered a great number of shares to finance for further development. Li Ka Shing Foundation was one of his new subscribers. (Sing Tao Daily B8)
Culture Landmark Investment’s (674 HK) wholly-owned subsidiary Win Castle Group has entered into an agreement with Cheng Films and Video Production to acquire 1053186 preference A shares of Xinya Media Private at a cash consideration of US$3 million. (Hong Kong Economic Journal P5)
HSBC Holdings (5 HK) reportedly plans to announce quarterly results. It is expected that the plan will be confirmed later this year or early next year. Analyst believes the move will make it more convenient for the bank to apply for a listing in the mainland. (Hong Kong Economic Journal P2)
Hycomm Wireless (499 HK) announced yesterday that Regal Power Investments Limited (Regal Power) transferred 60 million shares in the company to to Solar Fortune Investments Limited (Solar Fortune). Regal Power is wholly and beneficially owned by Mr. Chan Yuen Ming. Solar Fortune is wholly and beneficially owned by Mr. Kong Lingbiao. Solar Fortune and Mr. Kong do not hold any interest in the Company immediately before the Shares Transfer. (Sing Tao Daily B3)
In respect of US economic recovery and its upward trend, Man Wah Holdings Limited (1999 HK) embraces more business opportunities in order to answer the increasing demand from sofa markets, especially from Mainland China, which emphasized high-end and function-equipped sofas, and from the mainland’s theatres, high-speed railways and home building supplies. (Sing Tao Daily B9)
Ming Kei Holdings (8239 HK) announces that loss attributable to owners of the company was HK$97.427 million for the 9 months ended 31 Dec. Loss per share from continuing and discontinued operations was 61.91 HK cents. No dividend will be paid. (Hong Kong Economic Journal P5)
Newocean Energy Holdings Limited (Newocean Energy) (342 HK) announced that in respect of the Facility Agreement for a term loan facility in the aggregate amount of US$42 million on 28 Jan. 2011, Newocean planned to apply that amount for the purpose of refinancing. The loan to be made to the Company pursuant to the Facility Agreement will be repayable in instalments, with the last instalment falling due 48 months from the date of the Facility Agreement. (Sing Tao Daily B2)
Market sources say Sino Land Company (83 HK) will launch its residential project at 270 Cheung Sha Wan soon, providing 96 units in total. (Hong Kong Economic Times A5)
TVB (511 HK) has appointed Prudence Chan Bik-wah, former Octopus chief executive, as general manager – International Operations effective 8 Feb 2011. (Hong Kong Economic Times A7)
The Bank of East Asia (23 HK) announced that its business promotion plan--Kid Master Promotion for the Year of the Rabbit. From now until 31st May, 2011, customers under the age of 18 who open a Kid Master Savings Account with an initial deposit of just HK$1,000 will receive a gift certificate of HK$50 from McDonald’s. (Sing Tao Daily B2)
Uni-Bio Science Group (690 HK) is engaged in discussion with the stock exchange over the question as to the resumption of trading of its shares. Further announcement will be made in the event of a material development of the resumption process. Trading in its shares has been suspended since 9 Mar, 2010. (Hong Kong Economic Journal P5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, February 8, 2011
Hong Kong Stock Market Wrap Feburary 7th, 2011
The business volume of cross-border RMB trade settlement of Bank of China (BOC) (3988 HK) hit 160 billion yuan last year. The market share of this company still took the lead of its rivals. BOC’s volume of international trade settlement hiked 42 per cent. (Sing Tao Daily B2)
Orders of Chu Kong Petroleum (1938 HK) and Natural Gas Steel Pipe (Chu Kong) in the fourth quarter surged. Under the development of the Twelfth Five-Year Plan of China, new projects will call for help from steel pipes. As the biggest steel pipe producer, Chu Kong faces fruitful opportunities with such as China-Russia oil pipelines, Central Asia natural gas pipelines and West-East natural gas transmission project phase III this year. (Sing Tao Daily B8)
Country Garden (2007 HK) announced yesterday that the company planned to issue senior notes with a 7-year tenure. Country Garden issued USD high yield notes twice in the last year. (Sing Tao Daily B2)
Hong Kong Exchanges (388 HK) and Clearing’s chairman Arculli Ronald Joseph says HK has no technical problem launching yuan IPO and that the exchange will meet the industry next month to explain the procedures of yuan IPO. (Hong Kong Economic Times A4)
UBS reiterates a Buy rating on HSBC Holdings (5 HK), maintaining an 800 pence price target for the bank. (Hong Kong Economic Times A3)
Mr. Jiang Jianqing, ICBC Chairman (1398 HK), recently said that ICBC loans grew 16.9 per cent last year, 1 per cent lower than the average growth of loans in the overall market. ICBC intended to adjust its business model by reducing its spread income proportion to 40 per cent within ten years. (Sing Tao Daily B3)
Ming Fung Jewellery (860 HK) announced that the company entered into the memorandum of understanding with Italian brand--DAMIANI in relation to the distribution and sale of jewellery products and watches bearing the trademark of DAMIANI for a minimum term of five years. (Sing Tao Daily B2)
MTR Corporation (66 HK) will call for tenders for projects at Nam Cheong Station and Tai Wai Station, etc this year, involving around 9,861 units in total. It is expected that the project at Nam Cheong Station will be launched in mid-2011. (Hong Kong Economic Times A2)
Paradise Entertainment (1180 HK) announced that the company entered into an agreement with Nam Kwong (Hong Kong) Investment Management Limited (Nam Kwong) in relation to a possible portion or up to 100 per cent of equity interest in Nam Kwong. (Sing Tao Daily B2)
According to the Q4 financial results released by Sands China‘s (1928 HK) controlling shareholder Las Vegas Sands, total net revenues for Sands China increased 13.1 per cent to US$1.09 billion. Adjusted property EBITDA increased 36.7 per cent to US$332.8 million. (Hong Kong Economic Times A7)
Sino-Tech International Holdings (724 HK) is currently in an advanced stage of negotiations with vendors for finalizing possible amendments to certain terms of a first acquisition agreement and a second acquisition agreement in relation to an acquisition of the entire interest in CITIC Logistics Company. No definite agreement has, however, been signed. (Hong Kong Economic Journal P5)
Mr. Sung Kin Man, CEO of Sino Prosper (766 HK), noted yesterday that the company would pick up its speed in gold production. The company’s mines in Inner Mongolia are expected to build four vertical shafts as soon as in the middle of this year and the output will reach the target of 2,500 tons per day. He emphasized that holding 300 million yuan in cash; the company will look for more acquisition opportunities of mines of precious metals in Mainland China. (Sing Tao Daily B3)
Xingye Copper International (505 HK) expects a significant decline in its 2010 profit, which was mainly attributable to a loss recognized on the derivative financial instruments. It has been part of its business operation to enter into copper futures contracts to hedge its exposure against copper price fluctuations of raw materials. It recorded a loss for the futures contracts due to significant increase in the price of copper commodities last year. Profits embedded in its physical inventories would only be realized after the end of 2010 when the actual sale of its copper products is made. (Hong Kong Economic Journal P2)
Benefited from China’s affordable home building projects, Xinyi Glass Holdings Limited (Xinyi Glass) (868 HK) is expected to hold good business opportunities this year. In order to meet the demand of solar energy and photovoltaic power generation systems in Mainland China, Japan, Europe and America, Xinyi Glass intends to inject 3 billion yuan into Wuhu and Tianjin projects, which total 3 volt ultra-white glass production lines and 7 float glass production lines. (Sing Tao Daily B9)
Z-Obee Holdings (948 HK) announces that Shum Hoi Luen has tendered his resignation as CFO, joint company secretary and authorized representative and Tong Chi Cheong has been appointed to take his place with effect from 6 Feb 2011. (Hong Kong Economic Journal P5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Orders of Chu Kong Petroleum (1938 HK) and Natural Gas Steel Pipe (Chu Kong) in the fourth quarter surged. Under the development of the Twelfth Five-Year Plan of China, new projects will call for help from steel pipes. As the biggest steel pipe producer, Chu Kong faces fruitful opportunities with such as China-Russia oil pipelines, Central Asia natural gas pipelines and West-East natural gas transmission project phase III this year. (Sing Tao Daily B8)
Country Garden (2007 HK) announced yesterday that the company planned to issue senior notes with a 7-year tenure. Country Garden issued USD high yield notes twice in the last year. (Sing Tao Daily B2)
Hong Kong Exchanges (388 HK) and Clearing’s chairman Arculli Ronald Joseph says HK has no technical problem launching yuan IPO and that the exchange will meet the industry next month to explain the procedures of yuan IPO. (Hong Kong Economic Times A4)
UBS reiterates a Buy rating on HSBC Holdings (5 HK), maintaining an 800 pence price target for the bank. (Hong Kong Economic Times A3)
Mr. Jiang Jianqing, ICBC Chairman (1398 HK), recently said that ICBC loans grew 16.9 per cent last year, 1 per cent lower than the average growth of loans in the overall market. ICBC intended to adjust its business model by reducing its spread income proportion to 40 per cent within ten years. (Sing Tao Daily B3)
Ming Fung Jewellery (860 HK) announced that the company entered into the memorandum of understanding with Italian brand--DAMIANI in relation to the distribution and sale of jewellery products and watches bearing the trademark of DAMIANI for a minimum term of five years. (Sing Tao Daily B2)
MTR Corporation (66 HK) will call for tenders for projects at Nam Cheong Station and Tai Wai Station, etc this year, involving around 9,861 units in total. It is expected that the project at Nam Cheong Station will be launched in mid-2011. (Hong Kong Economic Times A2)
Paradise Entertainment (1180 HK) announced that the company entered into an agreement with Nam Kwong (Hong Kong) Investment Management Limited (Nam Kwong) in relation to a possible portion or up to 100 per cent of equity interest in Nam Kwong. (Sing Tao Daily B2)
According to the Q4 financial results released by Sands China‘s (1928 HK) controlling shareholder Las Vegas Sands, total net revenues for Sands China increased 13.1 per cent to US$1.09 billion. Adjusted property EBITDA increased 36.7 per cent to US$332.8 million. (Hong Kong Economic Times A7)
Sino-Tech International Holdings (724 HK) is currently in an advanced stage of negotiations with vendors for finalizing possible amendments to certain terms of a first acquisition agreement and a second acquisition agreement in relation to an acquisition of the entire interest in CITIC Logistics Company. No definite agreement has, however, been signed. (Hong Kong Economic Journal P5)
Mr. Sung Kin Man, CEO of Sino Prosper (766 HK), noted yesterday that the company would pick up its speed in gold production. The company’s mines in Inner Mongolia are expected to build four vertical shafts as soon as in the middle of this year and the output will reach the target of 2,500 tons per day. He emphasized that holding 300 million yuan in cash; the company will look for more acquisition opportunities of mines of precious metals in Mainland China. (Sing Tao Daily B3)
Xingye Copper International (505 HK) expects a significant decline in its 2010 profit, which was mainly attributable to a loss recognized on the derivative financial instruments. It has been part of its business operation to enter into copper futures contracts to hedge its exposure against copper price fluctuations of raw materials. It recorded a loss for the futures contracts due to significant increase in the price of copper commodities last year. Profits embedded in its physical inventories would only be realized after the end of 2010 when the actual sale of its copper products is made. (Hong Kong Economic Journal P2)
Benefited from China’s affordable home building projects, Xinyi Glass Holdings Limited (Xinyi Glass) (868 HK) is expected to hold good business opportunities this year. In order to meet the demand of solar energy and photovoltaic power generation systems in Mainland China, Japan, Europe and America, Xinyi Glass intends to inject 3 billion yuan into Wuhu and Tianjin projects, which total 3 volt ultra-white glass production lines and 7 float glass production lines. (Sing Tao Daily B9)
Z-Obee Holdings (948 HK) announces that Shum Hoi Luen has tendered his resignation as CFO, joint company secretary and authorized representative and Tong Chi Cheong has been appointed to take his place with effect from 6 Feb 2011. (Hong Kong Economic Journal P5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, February 7, 2011
Hong Kong Stock Market Wrap Feburary 2nd, 2011
Asia Commercial (104 HK) announces that the consolidated profit after taxation for the 9 months ended 31 Dec 2010 together with profit from the sale of a property in Jan 2011 represented an increase of at least 50 per cent over the consolidated profit after taxation for the year ended 31 Mar 2010, which was mainly attributed to an increase in sales turnover for the 9 month period. (SingTao Daily B15)
It is said that CNOOC (883 HK) and Petroleum Brunei are in talks regarding projects on refinery, downstream and exploration. The companies are expected to reach a deal in 2011 or 2012. (SingTao Daily B15)
Hua Yi Copper (559 HK) announces that its interim results for the 6 months ended 31 Dec 2010 may return to the black which was mainly due to a one-off gain on disposal of subsidiary happened in 2010 and a slight improvement in the business. (SingTao Daily B15)
Ko Yo Ecological Agrotech (Group) (827 HK) expects a loss to be recorded in the financial year of 2010 and the operating gross profit in the first 3Qs of the year 2010 to decrease as the market prices of urea and other chemical products were decreased. It says that its overall financial position is still healthy and remains positive on its long term prospect. (SingTao Daily B15)
Sands China’s (1928 HK) chairman Adelson Sheldon Gary discloses that Q4 adjusted property EBITDA went up 36.7 per cent to US$330 million. That is HK$2.6 billion. (SingTao Daily B15)
Goldman Sachs (363 HK) raises its target price for Shanghai Industrial Holdings to HK$38.2, maintaining a Neutral rating on the company. Shares rose 1.95 per cent to end at HK$31.35 last Wed.
(SingTao Daily B11)
JP Morgan maintains an Overweight rating and HK$40 price target for The Bank of East Asia (23 HK). The bank will announce its 2010 results on 15 Feb. (SingTao Daily B11)
IPO: It is reported that China’s marble company—Kingstone Marble plans to make its IPO in Hong Kong in early March, raising approximately over HK$3.9 b. (Hong Kong Economic Times A9)
Philips (833 HK) became a new customer of Alltronics. Alltronics also intended to join in the Biodiesel businesses, which are expected to gain profits within 2 years. (Hong Kong Economic Times A9)
Huang Rui, director for Mainland China business of Wing Lung Bank (3968 HK), notes that Wing Lung’s business will reflect a good inner and outer business interaction of its parent bank—China Merchants Bank. Business profits in mainland will see a faster increase than that of Hong Kong. Newly added loans are expected to amount to the same level as that of last year. Wing Lung Bank planned to increase the numbers of branches in Northeast and Central China. (Sing Tao Daily B9)
China Digital Licensing (8175 HK) introduced its music business authorized by Avex. 3G customers in Mainland China are expected to surge in 2012 and related businesses are expected to bloom. China Digital Licensing is expected to profit in the near future. Sports programme will enhance 3G businesses. (Hong Kong Economic Journal P6)
Fountain (420 HK) sets its focus overseas on big orders to increase its market share in textile fabrics. The company hopes to enhance its capital structure and improve its profits. It also expects less decrease of gross profit margin than its rivals do. Fountain intended to purchase cotton based on orders of customers and make cotton prices reflected on order prices to seek hedges. (Sing Tao Daily B9)
Fulbond (1041 HK) announced that it would purchase the whole shares of Lithium Energy Group Ltd. at consideration of HK$900 m. Sources said Fulbond intended to perform wood business and after its acquisition of lithium business, the company would also develop its property related business. (Sing Tao Daily B9)
Tencent (700 HK) decided to make its biggest acquisition of the majority of shares of US famous online games company Riot Games (RG) at consideration of HK$2.7 b. Tencent online games take up over a half of the company’s income currently. After this turnover, Tencent will set its pace into RG tech researches and millions of active players in Europe and US to expand its businesses overseas. (Hong Kong Economic Journal P5)
H shares companies may adopt China’s accounting standards to make financial statements and appoint mainland accountants. Tsingtao Brewery (168 HK) takes the lead. It is expected that more H shares company will follow what Tsingtao does. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
It is said that CNOOC (883 HK) and Petroleum Brunei are in talks regarding projects on refinery, downstream and exploration. The companies are expected to reach a deal in 2011 or 2012. (SingTao Daily B15)
Hua Yi Copper (559 HK) announces that its interim results for the 6 months ended 31 Dec 2010 may return to the black which was mainly due to a one-off gain on disposal of subsidiary happened in 2010 and a slight improvement in the business. (SingTao Daily B15)
Ko Yo Ecological Agrotech (Group) (827 HK) expects a loss to be recorded in the financial year of 2010 and the operating gross profit in the first 3Qs of the year 2010 to decrease as the market prices of urea and other chemical products were decreased. It says that its overall financial position is still healthy and remains positive on its long term prospect. (SingTao Daily B15)
Sands China’s (1928 HK) chairman Adelson Sheldon Gary discloses that Q4 adjusted property EBITDA went up 36.7 per cent to US$330 million. That is HK$2.6 billion. (SingTao Daily B15)
Goldman Sachs (363 HK) raises its target price for Shanghai Industrial Holdings to HK$38.2, maintaining a Neutral rating on the company. Shares rose 1.95 per cent to end at HK$31.35 last Wed.
(SingTao Daily B11)
JP Morgan maintains an Overweight rating and HK$40 price target for The Bank of East Asia (23 HK). The bank will announce its 2010 results on 15 Feb. (SingTao Daily B11)
IPO: It is reported that China’s marble company—Kingstone Marble plans to make its IPO in Hong Kong in early March, raising approximately over HK$3.9 b. (Hong Kong Economic Times A9)
Philips (833 HK) became a new customer of Alltronics. Alltronics also intended to join in the Biodiesel businesses, which are expected to gain profits within 2 years. (Hong Kong Economic Times A9)
Huang Rui, director for Mainland China business of Wing Lung Bank (3968 HK), notes that Wing Lung’s business will reflect a good inner and outer business interaction of its parent bank—China Merchants Bank. Business profits in mainland will see a faster increase than that of Hong Kong. Newly added loans are expected to amount to the same level as that of last year. Wing Lung Bank planned to increase the numbers of branches in Northeast and Central China. (Sing Tao Daily B9)
China Digital Licensing (8175 HK) introduced its music business authorized by Avex. 3G customers in Mainland China are expected to surge in 2012 and related businesses are expected to bloom. China Digital Licensing is expected to profit in the near future. Sports programme will enhance 3G businesses. (Hong Kong Economic Journal P6)
Fountain (420 HK) sets its focus overseas on big orders to increase its market share in textile fabrics. The company hopes to enhance its capital structure and improve its profits. It also expects less decrease of gross profit margin than its rivals do. Fountain intended to purchase cotton based on orders of customers and make cotton prices reflected on order prices to seek hedges. (Sing Tao Daily B9)
Fulbond (1041 HK) announced that it would purchase the whole shares of Lithium Energy Group Ltd. at consideration of HK$900 m. Sources said Fulbond intended to perform wood business and after its acquisition of lithium business, the company would also develop its property related business. (Sing Tao Daily B9)
Tencent (700 HK) decided to make its biggest acquisition of the majority of shares of US famous online games company Riot Games (RG) at consideration of HK$2.7 b. Tencent online games take up over a half of the company’s income currently. After this turnover, Tencent will set its pace into RG tech researches and millions of active players in Europe and US to expand its businesses overseas. (Hong Kong Economic Journal P5)
H shares companies may adopt China’s accounting standards to make financial statements and appoint mainland accountants. Tsingtao Brewery (168 HK) takes the lead. It is expected that more H shares company will follow what Tsingtao does. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, February 2, 2011
Hong Kong Stock Market Wrap Feburary 1st, 2011
According to Xinhua, State Food and Drug Administration publicized follow-up test results of Bawang’s (1338 HK) products. Due to suspect of its illegal propaganda, Bawang called back all of its illegal products in market and ceased to apply its two illegal propaganda products since 27 August 2010. (Hong Kong Economic Times A6)
China 3D (8078 HK) proposed rights issue of no less than 7.601 billion shares and no more than 8.828 billion shares at HK$0.015 per rights share on the basis of seven rights shares. The company intended to apply the the estimated net proceeds of the rights issue of not less than approximately HK$110 million and not more than approximately HK$129 million in 3D movie production and acquisition of cinemas in Hong Kong and China. (Hong Kong Economic Journal P8)
China Gas (384 HK) dropped 15 per cent dramatically after its listing, and closed at HK$2.89 yesterday. China Gas resumed its listing after its senior managing director got arrested. China Gas received different responses from dealers. (Hong Kong Economic Times A6)
C C Land Holdings (1224 HK) announces that it will acquire via Chongqing Verakin Real Estate 51 per cent interest of the registered capital in, and 51 per cent share of the aggregate shareholder’s loans advanced or to be advanced to, Chongqing Lian Xing Investment for around 107 million yuan. (SingTao Daily B3)
Mr.Mo Bin, new President of Country Garden (2007 HK), admitted that work in private enterprises possessed a big challenge for him. Mr. Mo noted he maintained a harmonious working relationship with Yang Guoqiang, the founder and chairman of Country Garden Group. (Hong Kong Economic Times A6)
Guangzhou R&F Properties (2777 HK) announces that Jan sales surged 11 per cent to 2.842 billion yuan. Sales area reached around 165,800sqm. It revised its full-yr sales target to 40 billion yuan. (SingTao Daily B3)
Hong Kong Life Group (8212 HK) lost around HK$23.76 million for the 6 months ended 31 Dec 2010. Loss per share was 0.7 HK cent. No dividend will be paid. (SingTao Daily B3)
Ms. Wong Raudres Lourdes, IDT’s CFO (167 HK), noted the company’s Oregon Scientific (OS) business intended to explore healthy and beauty products with visual effects based on the concept of Smart Living. OS has six shops in Hong Kong and now seeks to expand its business in mainland. OS has already launched on Taiwan and prepared to march into Japan. (Hong Kong Economic Journal P8)
Trading in the shares of Imagi International (585 HK) was suspended yesterday morning. It says that it has entered into advanced discussion with potential business partners regarding prospective projects in the animation industry to expand its business scope. No agreement has been entered into in respect of any projects yet. When any relevant project materialises, such transaction will likely constitute a notifiable transaction, the company says. (SingTao Daily B3)
KWG Property Holding (1813 HK) booked Jan presales income of 1.3 billion yuan, jumping 44 per cent yoy, 2.6 times of Dec sales. (SingTao Daily B4)
Shanghai Industrial Holdings (363 HK) releases financial data submitted to the CSRC regarding the acquisition of shareholdings in Shanghai Industrial Development. The company and its subsidiaries recorded revenue of HK$9.666 billion for the 9 months ended 30 Sep 2010. Gross profit amounted to HK$3.2 billion. Profit attributable to owners of the company was HK$4.973 billion. (SingTao Daily B3)
Shimao Property Holdings (813 HK) posted unaudited contracted sales of 3.116 billion yuan in Jan, up 22 per cent yoy, involving contracted sales area of around 241,800sqm, down 10 per cent yoy. (SingTao Daily B4)
Vale S.A. (6210 HK) announces that, based on the exchange rate as of Jan 31, the final gross amount of the extraordinary dividend payable per HDR is HK$1.4854 and the final net amount of the extraordinary dividend payable per HDR is HK$1.112623 after deduction of a withholding tax and dividend fee. (SingTao Daily B3)
One of agent of Yashili’s (1230 HK) underwriter CITIC Securities International sued Ferrell Premier Funds Limited, PCC the day before yesterday for HK$4.11 million, including HK$3.7 million in loss, commission, transaction costs and stamp duty. The agent noted Ferrell failed to deliver value of shares on schedule. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China 3D (8078 HK) proposed rights issue of no less than 7.601 billion shares and no more than 8.828 billion shares at HK$0.015 per rights share on the basis of seven rights shares. The company intended to apply the the estimated net proceeds of the rights issue of not less than approximately HK$110 million and not more than approximately HK$129 million in 3D movie production and acquisition of cinemas in Hong Kong and China. (Hong Kong Economic Journal P8)
China Gas (384 HK) dropped 15 per cent dramatically after its listing, and closed at HK$2.89 yesterday. China Gas resumed its listing after its senior managing director got arrested. China Gas received different responses from dealers. (Hong Kong Economic Times A6)
C C Land Holdings (1224 HK) announces that it will acquire via Chongqing Verakin Real Estate 51 per cent interest of the registered capital in, and 51 per cent share of the aggregate shareholder’s loans advanced or to be advanced to, Chongqing Lian Xing Investment for around 107 million yuan. (SingTao Daily B3)
Mr.Mo Bin, new President of Country Garden (2007 HK), admitted that work in private enterprises possessed a big challenge for him. Mr. Mo noted he maintained a harmonious working relationship with Yang Guoqiang, the founder and chairman of Country Garden Group. (Hong Kong Economic Times A6)
Guangzhou R&F Properties (2777 HK) announces that Jan sales surged 11 per cent to 2.842 billion yuan. Sales area reached around 165,800sqm. It revised its full-yr sales target to 40 billion yuan. (SingTao Daily B3)
Hong Kong Life Group (8212 HK) lost around HK$23.76 million for the 6 months ended 31 Dec 2010. Loss per share was 0.7 HK cent. No dividend will be paid. (SingTao Daily B3)
Ms. Wong Raudres Lourdes, IDT’s CFO (167 HK), noted the company’s Oregon Scientific (OS) business intended to explore healthy and beauty products with visual effects based on the concept of Smart Living. OS has six shops in Hong Kong and now seeks to expand its business in mainland. OS has already launched on Taiwan and prepared to march into Japan. (Hong Kong Economic Journal P8)
Trading in the shares of Imagi International (585 HK) was suspended yesterday morning. It says that it has entered into advanced discussion with potential business partners regarding prospective projects in the animation industry to expand its business scope. No agreement has been entered into in respect of any projects yet. When any relevant project materialises, such transaction will likely constitute a notifiable transaction, the company says. (SingTao Daily B3)
KWG Property Holding (1813 HK) booked Jan presales income of 1.3 billion yuan, jumping 44 per cent yoy, 2.6 times of Dec sales. (SingTao Daily B4)
Shanghai Industrial Holdings (363 HK) releases financial data submitted to the CSRC regarding the acquisition of shareholdings in Shanghai Industrial Development. The company and its subsidiaries recorded revenue of HK$9.666 billion for the 9 months ended 30 Sep 2010. Gross profit amounted to HK$3.2 billion. Profit attributable to owners of the company was HK$4.973 billion. (SingTao Daily B3)
Shimao Property Holdings (813 HK) posted unaudited contracted sales of 3.116 billion yuan in Jan, up 22 per cent yoy, involving contracted sales area of around 241,800sqm, down 10 per cent yoy. (SingTao Daily B4)
Vale S.A. (6210 HK) announces that, based on the exchange rate as of Jan 31, the final gross amount of the extraordinary dividend payable per HDR is HK$1.4854 and the final net amount of the extraordinary dividend payable per HDR is HK$1.112623 after deduction of a withholding tax and dividend fee. (SingTao Daily B3)
One of agent of Yashili’s (1230 HK) underwriter CITIC Securities International sued Ferrell Premier Funds Limited, PCC the day before yesterday for HK$4.11 million, including HK$3.7 million in loss, commission, transaction costs and stamp duty. The agent noted Ferrell failed to deliver value of shares on schedule. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, February 1, 2011
Hong Kong Stock Market Wrap January 31st, 2011
Bank of Communications (3328 HK) will hold shareholders’ meeting on 23 Feb to discuss issuing not more than 20 billion yuan bonds in HK by the end of 2012. (SingTao Daily B2)
Beijing Beida Jade Bird Universal Sci-Tech (8095 HK) forms an information technology fund for a period of 10 years. It contributes in cash 400 million yuan. (SingTao Daily B2)
Mr. Liu Minghui, managing director of China Gas (384 HK), got arrested for his involvement in acquisition of natural gas projects of four cities and one pipeline project in Hubei province. The listing has been suspended since 20 December last year and the company has applied to listing this morning. (Hong Kong Economic Times A9)
Due to the deterioration in market conditions coupled with the fact that the company was not fully subscribed, the company decided no to proceed its global offering. Application lists will not open on February. (Hong Kong Economic Journal P6)
China Netcom Technology (8071 HK) expects that its 2010 annual results will record a significant loss, which is primarily due to possible impairment loss in respect of its noncurrent assets. It, however, points out that no material adverse effect is expected to be imposed on its cash flow. (SingTao Daily B2)
China Power New Energy (735 HK) and China Yangtze Power Co., Ltd has reached an agreement that with approval of shareholders, China Yangtze Power shall subscribe 2.8 billion shares of China Power New Energy. China Power New Energy planned to expand its wind power and garbage power and its financial position was well improved. (Hong Kong Economic Journal P26)
Clear Media’s (100 HK) net profit increased by 4.3x to HK$166 million for the year ended 31 Dec 2010. Basic earnings per share amounted to 31.5 HK cents. No dividend will be paid. (SingTao Daily B2)
CNOOC (883 HK) announces that it will buy a 33.3 per cent stake in Chesapeake's Denver-Julesburg Basin and Powder River Basin oil and natural gas leasehold acres in Colorado and Wyoming for US$570 million. (SingTao Daily B2)
Global Bio-Chem Technology Group (809 HK) expects to record a significant improvement in its 2010 financial results, which is mainly attributable to an improvement in sales and margin of its products. (SingTao Daily B2)
I.T Ltd (999 HK) announced that the company entered into acquisition of approximately 90.27 per cent interest in Japan’s Nowhere Co., Ltd. (Hong Kong Economic Journal P8)
Morning Star Resources (542 HK) says that the expected 2010 results may show a loss, which is mainly due to a write-off of its irrecoverable balances. It, however, believes that the write-off of these irrecoverable balances will not have any significant impact on its operating cash flow. (SingTao Daily B2)
New World Development (17 HK) and NWS Holdings (659) jointly announced that they proposed spin-off iron business for separate listing. NWS Holdings shall hold 55 per cent of interests of Newton Resources Ltd. Newton Resources Ltd will embarked on its separate listing on the main board of the Stock Exchange of Hong Kong Ltd. (Hong Kong Economic Journal P6)
PetroChina (857 HK) announced yesterday that the company planned to offer US$1 billion to establish joint ventures with INEOS Investments International Limited. They planned to engage in trading activities related to the crude oil refining operations in Europe. (Hong Kong Economic Journal P6)
PYI (498 HK) achieved a new high in prices for a year and then announced that the trading in shares of the company in Hong Kong Stock Exchange has been suspended. The company also announced that it planned to sell 50 per cent of interests of Jiangsu Nantong Yangkou Port, valued at 1.5 BILLION YUAN, to a infrastructure investment company held by Rudong local government of Nantong. (Hong Kong Economic Journal P8)
Wing Lee Holdings (876 HK) expects to record a significant increase in 2010 profit, which is primarily due to a rise in turnover from the manufacturing segment and a gain arising from fair value changes of investment properties it held. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Beijing Beida Jade Bird Universal Sci-Tech (8095 HK) forms an information technology fund for a period of 10 years. It contributes in cash 400 million yuan. (SingTao Daily B2)
Mr. Liu Minghui, managing director of China Gas (384 HK), got arrested for his involvement in acquisition of natural gas projects of four cities and one pipeline project in Hubei province. The listing has been suspended since 20 December last year and the company has applied to listing this morning. (Hong Kong Economic Times A9)
Due to the deterioration in market conditions coupled with the fact that the company was not fully subscribed, the company decided no to proceed its global offering. Application lists will not open on February. (Hong Kong Economic Journal P6)
China Netcom Technology (8071 HK) expects that its 2010 annual results will record a significant loss, which is primarily due to possible impairment loss in respect of its noncurrent assets. It, however, points out that no material adverse effect is expected to be imposed on its cash flow. (SingTao Daily B2)
China Power New Energy (735 HK) and China Yangtze Power Co., Ltd has reached an agreement that with approval of shareholders, China Yangtze Power shall subscribe 2.8 billion shares of China Power New Energy. China Power New Energy planned to expand its wind power and garbage power and its financial position was well improved. (Hong Kong Economic Journal P26)
Clear Media’s (100 HK) net profit increased by 4.3x to HK$166 million for the year ended 31 Dec 2010. Basic earnings per share amounted to 31.5 HK cents. No dividend will be paid. (SingTao Daily B2)
CNOOC (883 HK) announces that it will buy a 33.3 per cent stake in Chesapeake's Denver-Julesburg Basin and Powder River Basin oil and natural gas leasehold acres in Colorado and Wyoming for US$570 million. (SingTao Daily B2)
Global Bio-Chem Technology Group (809 HK) expects to record a significant improvement in its 2010 financial results, which is mainly attributable to an improvement in sales and margin of its products. (SingTao Daily B2)
I.T Ltd (999 HK) announced that the company entered into acquisition of approximately 90.27 per cent interest in Japan’s Nowhere Co., Ltd. (Hong Kong Economic Journal P8)
Morning Star Resources (542 HK) says that the expected 2010 results may show a loss, which is mainly due to a write-off of its irrecoverable balances. It, however, believes that the write-off of these irrecoverable balances will not have any significant impact on its operating cash flow. (SingTao Daily B2)
New World Development (17 HK) and NWS Holdings (659) jointly announced that they proposed spin-off iron business for separate listing. NWS Holdings shall hold 55 per cent of interests of Newton Resources Ltd. Newton Resources Ltd will embarked on its separate listing on the main board of the Stock Exchange of Hong Kong Ltd. (Hong Kong Economic Journal P6)
PetroChina (857 HK) announced yesterday that the company planned to offer US$1 billion to establish joint ventures with INEOS Investments International Limited. They planned to engage in trading activities related to the crude oil refining operations in Europe. (Hong Kong Economic Journal P6)
PYI (498 HK) achieved a new high in prices for a year and then announced that the trading in shares of the company in Hong Kong Stock Exchange has been suspended. The company also announced that it planned to sell 50 per cent of interests of Jiangsu Nantong Yangkou Port, valued at 1.5 BILLION YUAN, to a infrastructure investment company held by Rudong local government of Nantong. (Hong Kong Economic Journal P8)
Wing Lee Holdings (876 HK) expects to record a significant increase in 2010 profit, which is primarily due to a rise in turnover from the manufacturing segment and a gain arising from fair value changes of investment properties it held. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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