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