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
