Hong Kong Stock Market Wrap March 29th, 2011

Air China Limited (753 HK) announced the company’s net profit for 2010 amounted to around HK$12 billion, an increase of 147 percent over the same period of the previous financial year. The earnings per share was HK103 cents, with a final dividend of HK$0.1182 per share proposed. (Hong Kong Economic Journal P9)

Agricultural Bank of China recorded a net profit of RMB94.91 billion, an increase of 46.0% compared to 2009, better than expectations. The final dividend of RMB0.054 per share was proposed. (SingTao B2)

Zoomlion (1157 HK) anticipates that the company’s capital expenditure for 2011 will amount to RMB5 billion, which will be used for the development of component parts and overseas businesses, and operating funds and scientific research. (Hong Kong Economic Journal P9)

China Everbright Limited (165 HK) recorded a net profit of HK$1.93 billion for 2010, or a decrease of 59 percent year-on-year. The company will continue to search for merger and acquisition targets this year and it will further enhance its efforts in the investment funds on real estate. (Hong Kong Economic Times A12)

China Cosco Holdings Company (1919 HK) announced that the company’s profit attributable to the equity holders for 2010 amounted to RMB6, 858 million. The company proposed a final dividend of RMB0.09 per share. This outstanding performance is mainly due to the improvement of container transport operations of the company. (Hong Kong Economic Times A12)

China Yurun Food Group (1068 HK) notes that clenbuterol cases do no harm to the company’s contracts. According to the government resampling results, no clenbuterol was found among Yurun food products. (Hong Kong Economic Times A12)

China Unicom (Hong Kong) (762 HK) booked profit for the year of RMB3.85 billion, down by 59.7% compared with last year. Revenue reached RMB171.30 billion, up by 11.3%. It proposed to pay a final dividend of RMB0.08 per share. (SingTao B1)

Cinda International Holdings (111 HK) proposes to raise around HK$117.6 million by way of a rights issue at a price of HK$1.10 per rights share on the basis of 1 rights share for every 5 existing shares held. (SingTao B4)

Fosun International (656 HK) notes that the company’s capital expenditure for 2011 will stay less than RMB5 billlion, which will be mainly used for the development of steel, mining and medicine businesses. The company casts good outlook on the real estate market in the middle term and reserves extra RMB5 billion to RMB6 billion for land purchase. (Hong Kong Economic Times A12)

PCCW Limited (8 HK) announces that it prefers to list in Hong Kong and proposals have been submitted; its current intention would only involve the disposal of a minority stake in the units in such listed business trust. If the listing plan approved, it would intend to retain a controlling stake in the telecommunications business on a long-term basis, by retaining a majority of the listed units in the business trust and control of the trustee-manager of the business trust. (SingTao B1)

Ping An Insurance Company (2318 HK) announced that the company’s net profit increased by 24.69 percent to RMB17, 311 million for 2010, in line with the market expectations. A final dividend of RMB0.4 per share was proposed. (Hong Kong Economic Journal P8)

Silver Grant International (171 HK) announces a placing of 120,000,000 placing shares at HK$3 per share. (SingTao B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 28th, 2011

Bawang International Group (1338 HK) will launch its new packaging shampoo products in May and old packaging products will be removed from the shelves. (Hong Kong Economic Times A12)

Beijing Capital Land (2868 HK) posted profit attributable to equity holders of RMB918,155,000 for the year ended 31st December 2010. It recommended the payment of a final dividend of RMB0.18 per share. (SingTao B2)

Brilliance China Automotive (1114 HK) announced the company’s profit attributable to equity holders for 2010 amounted to RMB1.27 billion, RMB900 million of which comes from BMW Brilliance joint venture. (Hong Kong Economic Journal P6)

China Shenhua (1088 HK) notes that due to the export coal sales taking up a great proportion of the company’s total coal sales, its gross profit margin is expected to further go down this year. The commercial coal business will bring aggressive revenue and profit increase to the company. (Hong Kong Economic Times A11)

After China Banking Regulatory Commission (CBRC) (2601 HK) issued new rules to regulate the banking-insurance cooperation, the insurance sales of China Pacific in Q1 will experience the negative impact from these rules. These rules will encourage sales transformation of banking-insurance businesses. The company will explore new sales modes. (Hong Kong Economic Times A10)

Chong Qing Rural Commercial Bank (3618 HK) announced its net profit increased by 62 percent to RMB3, 061 million for the year ended 31 December 2010. No final dividend was proposed. (Hong Kong Economic Times A10)

EPI (Holdings) (689 HK) expects a substantial loss for the year ended 31 December 2010, which is mainly attributable to the accounting reclassification of the drilling costs of two deep wells for exploration purposes and charged to the profit and loss account in the year of 31 December 2010. (SingTao B2)

Golden Eagle Retail (3308 HK) booked profit attributable to owners of RMB959.2 million for the year ended 31 December 2010. Final dividend of RMB0.150 per share was proposed. (SingTao B2)

Gome Electrical Appliances (493 HK) announced that the company’s net profit for 2010 saw an annual increase of 39.25 percent to RMB1, 962 million and declared a final dividend of HK4.1 cents per share. The company is marching into the second-tier cities in the Mainland by increasing more stores this year. (Hong Kong Economic Times A12)

Shenzhou International Group (2313 HK) announces that profit attributable to equity holders for the year ended 31 December 2010 amounted to around RMB1,271,654,000, an increase of 1.6%. The company proposed to declare a final dividend of HK$0.36 per ordinary share. (SingTao B2)

Sinopec Yizheng Chemical Fibre (1033 HK) registered profit attributable to ordinary equity shareholders of RMB 1,231,226,000. A final dividend of RMB 0.03 per share was proposed. (SingTao B2)

Wuyi International Pharmaceutical Company (1889 HK) recorded profit of RMB106.0 million for the year ended 31 December 2010. Final dividend of HK1.6 cents per share and special dividend of HK8.8 cents per share were recommended. (SingTao B2)

Xinjiang Goldwind (2208 HK) aims to promote its market shares in Mainland China with a target of 25 percent, or up 5 percentage points before the end of next year. The company plans to complete the overall design of 6MW Direct-Drive Permanent Magnet Wind Turbines within this year. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 25th, 2011

China Minsheng Banking Corp (1988 HK) announced its net profit for the year ended 31 December 2010 was RMB17, 581 million, representing an increase of over 45 percent over the same period last year, with basic earnings per share of RMB0.66, or up nearly 30 percent. A final dividend of RMB10 cents per share was proposed. (Sing Tao Daily B2)

China Resources Land (1109 HK) plans to raise capital via debt financing and will consider issuing yuan bonds of between RMB2 billion and RMB3 billion for this year. (Hong Kong Economic Times A11)

Longfor Properties Co. Ltd. (960 HK) intends to issue USD-denominated senior notes for the purpose of capital expenses on the company’s existing and new property projects and for general corporate purposes. (Sing Tao Daily B3)

Next Media Limited (828 hk) issues the profit warning that the company is expected to record a loss for 2010 mainly due to the increase of operating expenses and development cost of the company’s TV Division. (Sing Tao Daily B3)

Sinopharm Group (1099 HK) expects the company’s capital expenditure this year will amount to RMB2.7 billion for the purpose of mergers and acquisitions. (Sing Tao Daily B3)

Techtronic Industries Co. Ltd (669 HK) announced that the company’s turnovers for 2010 recorded an increase of 10 percent to HK$26.4 billion, with net profit up 50 percent. The company recommended a final dividend of HK6.25 cents, making a total payment of HK10 cents per share for 2010. The company plans to further expand businesses in emerging market to improve its gross profit margin. (Hong Kong Economic Journal P4)

Xiamen International Port Co., Ltd (3378 HK) announced its profit attributable to the owners for 2010 increased by 59 percent year-on-year to RMB325 million. A basic earnings per share was RMB12 cents. The company proposed a final dividend of RMB9 cents per share. (Sing Tao Daily B3)

In 2010, CCB (939 HK) recorded profit before tax of RMB175,156 million, up 26.26% over 2009. Net profit was RMB135,031 million, up 26.39% over 2009. It recommended a cash dividend of RMB0.2122 per share (including tax). (Hong Kong Economic Journal P2)

China Pacific Insurance (2601 HK) booked net profit attributable to equity holders of RMB 8.557 billion in 2010, a YOY increase of 16.3%. Its share of China’s insurance market was 9.9% and solvency margin ratio reached 357%. The company recommended a final dividend of RMB 0.35 per share (including tax). (Hong Kong Economic Journal P5)

China Petroleum & Chemical (386 HK) reported profit attributable to equity shareholders of RMB 71.8 billion, representing an increase of 13.7% over 2009. In 2010, its turnover was RMB1,913.2 billion, representing an increase of 42.2%. (Hong Kong Economic Journal P5)

CITIC Resources Holdings (1205 HK) announces that its profit attributable to shareholders increased by 8.5 times to HK$1,101.7 million. It did not recommend the payment of any final dividend in respect of the year. (SingTao Daily B15)

Xinjiang Goldwind Science & Technology (2208 HK) announces that its profit attributable to owners amounted to RMB 2,289.52 million, representing an increase of 31.16% compared to last year. Basic earnings per share was RMB 0.99. It proposed to pay a final dividend of RMB0.34 per share. (Hong Kong Economic Times A13)

Yanzhou Coal Mining Company (1171 HK) posted net income attributable to the equity holders of RMB9,281.4 million, representing an increase of 125.4%. The company proposed to declare a cash dividend of RMB0.59 per share. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 24th, 2011

Bank of China (3988 HK) announced its net profit for 2010 experienced a significant increase of 29.2 percent year-on-year to RMB104, 418 million, and exceeding expectations. The company proposed a final dividend of RMB0.146 per share. (Sing Tao Daily B2)

BOC Hong Kong’s (2388 HK) profit attributable to shareholders increased by 16.3 per cent year-on-year to HK$16,196 million or HK$1.5319 per share. It has recommended a final dividend of HK$0.572 per share. (Hong Kong Economic Journal P2)

China Resources Enterprise (291 HK) saw its net profit for 2010 increase by around 95 percent to HK$5,674 million, a historical high. The company’s core businesses profit increased by 25 percent year-on-year, mainly due to the aggressive growth of its beer business. (Sing Tao Daily B5)

Giordano International’s (709 HK) profit attributable to its equity holders amounted to HK$540 million, a new high, or up 86 percent. The company plans to further expand business in Mainland by adding 300 new stores. (Sing Tao Daily B5)

Guangzhou R&F Properties (2777 HK) plans to acquire new capital at least of billions of yuan for its growth. In regard of the company’s status as an H-share company, Guangzhou R&F Properties are looking at innovative ways to enhance channels of financing. (Sing Tao Daily B6)

Li & Fung Limited (494 HK) proposes 1-to-2 share split. The subdivided shares will continue to be traded in board lots of 2,000 subdivided shares. (Sing Tao Daily B4)

Nanyang Holdings (212 HK) plans to subscribe for shares in The Shanghai Commercial & Savings Bank, Ltd. (SCSB) with a total number of 59,000,000 at a consideration of HK$155 million. After the completion of this subscription, Nanyang Holdings will hold 4.4 percent of share capital in SCSB. (Sing Tao Daily B4)

PICC Property and Casualty Company (2328 HK) saw its net profit for 2010 increase by nearly 2x year-on-year to RMB5,212 million, with earnings per share of RMB0.468. No final dividend was proposed. (Sing Tao Daily B4)

Renhe Commercial Holdings (1387 HK) announced the company’s net profit dropped by 4.8 percent to RMB3.84 billion for 2010 with earnings per share of RMB17.5 cents. The company recommended a final dividend of RMB7.2 cents per share. (Sing Tao Daily B4)

SCUD Group Limited (1399 HK) recorded turnover and profit attributable to the equity holders of about 1,527 million and 54.35 million yuan respectively, an increase of 20.8 and 16 per cent, respectively. It decided not to recommend any final dividend. (Hong Kong Economic Journal P10)

Sinofert Holdings (297 HK) announces that profit for the year attributable to shareholders was 536 million yuan, turning a loss to a profit. It recommended the payment of a final dividend of HK$0.011 per share. (Hong Kong Economic Times A10)

TOM Group (2382 HK) announces revenue for the year ended 31 December 2010 amounted to HK$2,464 million. Consolidated loss attributable to equity holders was HK$167,952,000. (Hong Kong Economic Times A11)

Techtronic Industries (669 HK) reported full year profit attributable to owners of HK$740 million, an increase of 50.7 per cent. Gross margin improved to 32.2 per cent as compared to 31.3 per cent reported last year. (Hong Kong Economic Times A11)


Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 23rd, 2011

Asia Tele-Net Technology (679 HK) issues a positive profit alert that the company is expected to record a profit for year ended 31 December 2010, benefiting from the recovery of PCB, automobile and photo voltaic sectors worldwide. (Sing Tao Daily B3)

Belle International Holdings’ (1880 HK) profit attributable to equity holders increased by 35.2 per cent to 3,424.5 million yuan. The company recommended the payment of a final dividend of RMB6 cents per ordinary share and a special dividend of RMB10 cents per ordinary share. (Hong Kong Economic Times A10)

Huixian, Cheung Kong’s (1 HK) RMB REIT, will sell about 2.7 billion existing shares, or 40 percent of the company in the IPO, giving it a market capitalization of about 28 billion yuan. (Sing Tao Daily B3)

China Life Insurance Company (2628 HK) notes that although the company’s solvency ratio plunges to 212 percent, the adequate level is capable of supporting its development over 2 to 3 years’ time. (Sing Tao Daily B3)

CNOOC Limited’s (883 HK) consolidated net profit increased 84.5 per cent to 54,409.5 million yuan in 2010. The company proposed a year-end dividend of HK$0.25 per share. (Hong Kong Economic Times A10)

Cosco Pacific (1199 HK) announced this company’s profit attributable to shareholders for 2010 was US$360 million (HK$2.8 billion) with earnings per share of HK$1.1. The company proposed a final dividend of HK$19.37 per share. (Sing Tao Daily B3)

Dah Sing Banking Group (2356 HK) saw profit attributable to shareholders increasing to HK$1,074 million for the year ended 31 December 2010. It will propose a final dividend of HK$0.2 per share. Net interest margin narrowed to 1.68 per cent. (Hong Kong Economic Times A11)

The net profit for Dah Sing Financial Holdings (440 HK) in 2010 increased by 61 percent to HK$1,006 million, with earnings per share of HK$3.67. A final dividend of HK$0.86 was recommended. (Sing Tao Daily B3)

Geely Automobile Holdings (175 HK) booked profit attributable to equity holders of 1,368,437,000 yuan. A final dividend of HK$0.026 per share was proposed. (Hong Kong Economic Times A10)

KWG Property (1813 HK) plans to issue senior fixed rate notes between US$250 million to US$300 million with a term of 5 years. The notes will bear interest at a rate of 12.75 percent per annum as initially indicated. (Sing Tao Daily B3)

Mongolian Mining Corporation (975 HK) announced this company’s net profit for 2010 saw an increase of about 486 percent to US$60 million. No final dividend is proposed. (Sing Tao Daily B4)

Skyfame Realty (59 HK) announces that given that the winding-up petition had been withdrawn and the provisional liquidators had been dismissed, the acceleration notice had been withdrawn, and the receivership under each of the notes and the Sky Honest loan had been discharged respectively, the company submits that it has satisfied the relevant resumption condition and has made an application for the resumption of trading in its shares with effect from today. (Hong Kong Economic Journal P11)

The Wharf (Holdings) (4 HK) reported the record financial performance yesterday that the company’s profit recorded an increase of 86 percent year-on year to HK$35.8 billion for 2010. Mr. Stephen Tin Hoi Ng, the Deputy Chairman of the Wharf (Holdings) notes that the company sets its target of contract sales in Mainland China of RMB14 billion and rental properties of 2 million square meters to be completed in 2013-16. (Sing Tao Daily B4)

Trinity Limited (891 HK) announces that for 2010 the profit attributable to shareholders increased to HK$340.8 million. It recommended paying shareholders a final dividend of 10.0 HK cents per share for the year ended 31 December 2010. (Hong Kong Economic Times A11)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 22th, 2011

China Coal Energy’s (1898 HK) profit attributable to equity holders for 2010 increased by 0.8 percent year-on-year to RMB7,466 million, with earnings per share at RMB56 cents. A final dividend of RMB15.633 cents was proposed. (Sing Tao Daily B4)

China Dongxiang (Group) (3818 HK) booked profit attributable to the equity holders of 1,463.7 million yuan for the year ended 31 December 2010, up 0.2 per cent, meeting market expectations. (Hong Kong Economic Times A12)

Mr. Zhu Xinli, chairman of China Huiyuan Juice (1886 HK), notes that along with the effective measures to curb inflation in Mainland China and the low price and oversupply of fruit markets, the company will not suffer too much pressure on the cost of production, thus the company does not intend to increase its product price this year. (Sing Tao Daily B6)

China Life Insurance Company (2628 HK) announces that net profit attributable to equity holders was 33,626 million yuan, increased by 2.3 per cent from 2009. The company recommended the payment of a final dividend of RMB0.4 per share. (Hong Kong Economic Times A12)

China Telecom (728 HK) plans to acquire CDMA network next year at a consideration of RMB100 billion from its parent. The network purchase will raise earnings. (Sing Tao Daily B2)

Datang International Power Generation (991 HK) announces that its net profit attributable to equity holders amounted to around 2,570 million yuan for the year ended 31 December 2010, an increase of around 67.24 per cent over 2009. It has recommended the distribution of a final dividend of RMB0.07 per share. (Hong Kong Economic Times A12)

Golden Resorts Group (1031 HK) announces that the resolution in respect of the acquisition of the entire issued share capital of Kingston Capital Asia was duly passed at the SGM held yesterday. (Hong Kong Economic Journal P10)

Little Sheep Group (968 HK) saw last year’s profit go up 18.5 per cent to 249 million yuan. Same-store sales and customer traffic in China expanded at a record pace, increasing 8 and 6 per cent respectively. (Hong Kong Economic Times A12)

Mongolia Investment Group (402 HK) announced to place 1,320,000,000 new shares at the placing price of HK$0.067 per placing share. The net proceeds of approximately HK$86.5 million is intended to be utilized as general working capital of the company. (Sing Tao Daily B4)

Pearl Oriental Innovation (932 HK) announced a positive profit alert that the company is expected to record a considerable increase in its net profit for 2010 due to the substantial improvement of the value of the Utah Gas and Oil Field. (Sing Tao Daily B4)

Shenguan Holdings (829 HK) announced that the company’s capital expenditure budget for 2011 was RMB400 million. The company plans to increase 54 new production lines to 220 production lines in total. (Sing Tao Daily B6)

Shimao Property (813 HK) sets the target for its contract sales at RMB36 billion this year, or around 20 percent up over the last year. (Sing Tao Daily B4)

Sino-Life Group (8296 HK) announced that the company’s net profit for 2010 was RMB1.1 million, representing a drop of 91 percent year-on-year. No final dividend was recommended. (Sing Tao Daily B4)

Yashili International Holdings (1230 HK) announces that its net profit attributable to shareholders amounted to 502.4 million yuan, a growth of 24.1 per cent from 2009. It recommends the payment of a final dividend of RMB7 cents per ordinary share. (Hong Kong Economic Journal P10)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 21st, 2011

China Datang Corporation Renewable Power (1798 HK) expects the company’s capital expenditure for 2011 will amount to HK$14.14 billion. (Sing Tao Daily News B5)

China Huiyuan Juice Group (1886 HK) posted profit attributable to equity holders of 181.0 million yuan as compared with a loss of 99.8 million yuan in 2009. Proposed final dividend per share was RMB 3.3 cents. (Hong Kong Economic Journal P10)

China Metal Recycling (773 HK) has entered into a non-binding memorandum of understanding with GDWZ to set up the Joint Venture for the business of recycling. The registered capital was RMB300 million. (Sing Tao Daily News B5)

China Mobile (941 HK) announced the number of the company’s new users increased by 5.65 million, a new high in 11 months. (Sing Tao Daily News B5)

China Taiping Insurance (966 HK) announces that in 2010 net profit attributable to shareholders amounted to HK$2,244.79 million, up 1.7 times and, without taking into account the extraordinary gain of HK$1,181.98 million from the sale of The Ming An Insurance, profits from the core businesses amounted to HK$1,062.81 million, an increase of 28.7 per cent.
(Hong Kong Economic Journal P6)

Goodbaby International Holdings (1086 HK) recorded revenue for the year ended 31 December 2010 of around HK$3,721.9 million, up 22.7 per cent. A final dividend of HK$0.05 per ordinary share was proposed. (Hong Kong Economic Journal P10)

Hanny Holdings (275 HK) plans to march into the real estate business in Mainland China. The company’s first project in Guangzhou, Guangdong Province, has a total floor area of approximately 123,000 square meters, including a commercial area of 33,000 square meters and apartment area of about 59,000 square meters. (Sing Tao Daily News B5)

Harbin Power Equipment (1133 HK) notes that the company’s nuclear power equipment manufacturing does not suffer from the nuclear crisis in Japan. The company’s orders on hand have got the approval from the government and received no shutdown command. (Sing Tao Daily News B5)

Hutchison Telecommunications (215 HK) Hong Kong booked consolidated turnover for 2010 of HK$9,880 million, a growth of 17 per cent, and profit attributable to shareholders of HK$755 million, a growth of 61 per cent. It recommended payment of a final dividend of 6.83 HK cents per share. (Hong Kong Economic Journal P6)

Longfor Properties (960 HK) sets its target of contract sales this year at RMB40 billion, RMB8 billion of which comes from Beijing. (Sing Tao Daily B3)

Tingyi (Cayman Islands) (322 HK) saw profit attributable to owners increase by 24.42 per cent to US$477 million and earnings per share increase to 8.53 US cents. The company has recommended the payment of a final dividend of US4.27 cents per ordinary share. (Hong Kong Economic Times A12)

The Bank of East Asia (China) (23 HK), a subsidiary of the bank of East Asia, issued its first batch of RMB financial bonds in an aggregate principal amount of RMB2 billion in Mainland China’s interbank bond market, with a term of two years. (Sing Tao Daily News B5)

Waytung Global (21 HK) issued a profit warning yesterday that the company is expected to record a loss for 2010 due to the matters of real estate taxes and exchange differences. (Sing Tao Daily News B5)

Xtep International Holdings (1368 HK) registered profit attributable to shareholders of around 813.7 million yuan, an increase of around 25.7 per cent over last year. It recommended the payment of a final dividend of HK12 cents per share. (Hong Kong Economic Times A14)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 20th, 2011

Beijing Jingkelong Company (814 HK) saw profit attributable to equity holders go up 22.1 per cent to around 180.5 million yuan for the year ended 31 December 2010. Basic earnings per share was RMB43.8 cents. The proposed final dividend per share was RMB20 cents. (Hong Kong Economic Times A12)

China State Construction (3311 HK) proposes to raise not less than around HK$3,580 million by way of rights issue on the basis of 1 rights share for every 5 existing shares at a price of HK$6 per rights share. (Hong Kong Economic Journal P6)

Hunan Nonferrous Metals (2626 HK) posted profit attributable to equity holders for the year ended 31 December 2010 of 12.24 million yuan. The basic earnings per share was RMB0.33 cents. It did not recommend the payment of any dividend. (Hong Kong Economic Times A12)
Jiangsu Expressway Company’s (177 HK) net profit was 2.529 billion yuan last year, up 23 per cent yoy. The company has proposed to pay a final dividend of 0.36 yuan per share. (Hong Kong Economic Times A12)

Kingboard Chemical Holdings (148 HK) announces that Elec & Eltek International, a 69.22 per cent owned subsidiary is contemplating the possibility of seeking a dual primary listing of its shares on the main board of the Hong Kong stock exchange and has submitted an application. (SingTao Daily B4)

Pacific Textiles Holdings (1382 HK) proposes to spin off of PT Sri Lanka, a 60 per cent-owned subsidiary, for separate listing on the Main Board of the Colombo Stock Exchange. Its interest in PT Sri Lanka will be reduced from 60 per cent to 40 per cent after completion of the PT Sri Lanka IPO.
(SingTao Daily B4)

Brightoil Petroleum (933 HK) entered into a facility letter with China Development Bank, Hong Kong Branch that the Company was granted the revolving letter of credit and trust receipt facilities in an amount of up to US$600 million from China Development Bank. (Sing Tao Daily B15)

China Telecom (728 HK) intends to introduce CDMA iPhone 4 in the second half of this year, which is expected to be a highlight for its business. (Sing Tao Daily B13)

CITIC Dameng (1091 HK) announced its profit attributable to its ordinary shareholders for 2010 amounted to HK$229 million, representing an increase of 371 percent. No final dividend was proposed. (Sing Tao Daily B15)

Harbin Power Equipment ‘s (1133 HK) net profit for 2010 surged by69 percent to RMB1,024 million, with a final dividend of RMB0.142 per share. (Hong Kong Economic Times A14)
Hengli Properties Development (169 HK) announced the company has entered into the lease agreement with Beijing Wangfujing Department Store to to lease the 8-story commercial podium of Hengli City to Wangfujing.(Sing Tao Daily B15)

Sihuan Pharmaceutical (460 HK) announced that the company’s core products have entered into the catalogue of medical insurance. The company plans to further subdivide its businesses for maintaining the growth of profit and prepares exports for the market overseas. (Hong Kong Economic Journal P6)

Bentley Beijing, a subsidiary of Sparkle Roll Group (970 HK), announced its sales volume last year amounted to 253 cars, or about 5 percent of the global sales volume, ranking the 1st among sales agents of Bentley worldwide. (Sing Tao Daily B15)

Weiqiao Textile Company’s net profit for 2010 experienced an increase of 82.4 percent to RMB1,627 million, with a final dividend of RMB0.4376 per share. (Hong Kong Economic Times A14)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 16th, 2011

IPO: Besides Prada, Sixty Group from Italy plans to spin off and float Sixty China in HK in 2013 to raise around 585 million. (SingTao Daily B2)

China Mobile (941 HK) will see an increase in capital expenditure over the next two years to RMB132.4 billion and RMB130.4 billion for 2011 and 2012 respectively due to increasing high network loads. (Hong Kong Economic Times A11)

Chu Kong Shipping Development (560 HK) announced its profit attributable to shareholders of the company was up by 18 percent year-on-year to HK$137 million for 2010, with earnings per share of HK15.21 cents. The company recommends a final dividend of HK4 cents per share. (Hong Kong Economic Journal P10)

Market sources say Indian investor Rajkumar Daswani bought shares of Easyknit Enterprises Holdings (616 HK) again on 16 Mar. The shares ended at HK$0.375 apiece yesterday. (SingTao Daily B4)

Far East Horizon (3360 HK) will open its retail book on 18 Mar as scheduled. Rumours spread that it will introduce 6 cornerstone investors including Sun Hung Kai Properties (0016), Value Partners (0806), Hillhouse Capital and Prime Capital. (SingTao Daily B2)

Great Wall Motor Company (2333 HK) says that its 2011 sales target is 500,000 vehicles and expects its capital spending this year will be similar to that of last year. (SingTao Daily B4)

Haitong International Securities Group (665 HK) announced its business results for 18 months ended 31 December 2010. The company’s net profit increased by 83 percent year-on-year to HK$346 million. The company proposed a final dividend of HK8 cents. (Hong Kong Economic Times A13)

International placing of Hilong Holding (1623 HK) was fully covered. Although its retail tranche is undersubscribed, it will list on the bourse as planned. (SingTao Daily B2)

International Mining Machinery (1683 HK) says it will spend 140 million yuan to increase its production capacity this year. (SingTao Daily B5)

Mr. Dong Li, chairman of Leoch International Technology (842 HK), notes that the company currently has 53 production lines and plans to increase 25 motive power battery production lines, 25 automotive battery production lines and 7 energy storage battery production lines. (Hong Kong Economic Journal P9)

Li Ning’s (2331 HK) net profit for 2010 saw an increase of 17.4 percent to RMB1,108 million, which was in line with market expectations. Li Ning has remodelled brands and integrated distribution networks last year but its businesses will experience growing pains over the next two years, notes Li Ning. (Hong Kong Economic Times A12)

Pacific Plywood Holdings’ (767 HK) share price has gone up sharply this week after the company’s announcement of a rights issue. The shares rocketed 57 per cent to HK$3.3 each yesterday. (SingTao Daily B5)

Springland International (1700 HK) announced that the company’s total sales proceeds increased by 44.7 percent year-on-year to RMB6,852 million for 2010. This growth was mainly attributable to the stable growth of same-store sales, representing an increase to 21.2 percent. The net profit increased by 50.2 percent year-on-year to RMB372 million. (Hong Kong Economic Journal P10)

Tencent Holdings (700 HK) announced its net profit for 2010 surged by 56.2 percent to RMB8,053 million. Mr. Ma Huateng, CEO of Tencent, notes that the company will increase its investment and speed up development in e-commerce, Weibo and other fields to diversify its businesses. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 15th, 2011

China Longyuan Power Group’s (916 HK) net profit for 2010 surged 125.8 percent to 2,019 million yuan and the company proposed a final dividend of 0.054 yuan per share. Mr. Zhu Yong peng, chairman of China Longyuan Power Group, notes that the company will expand its wind power business in inland regions and intensify wind power development in non-power rationing provinces in China, including construction of wind farms in regions of high altitude and low wind speed. (Hong Kong Economic Times A15)

Digital China Holdings (861 HK) announces that starting next month Guo Wei will cease to act as its Chief Executive Officer, Lin Yang will be appointed as its Chief Executive Officer and Yan Guorong will be appointed as its President. (SingTao Daily B4)

Great Wall Motor Company (2333 HK) announced that the company’s net profit for 2010 increased by 163.7 percent year-on-year to 2,698 million yuan. The company’s automobile sales volume surged 70 percent. A final dividend of 0.2 yuan was proposed.(Hong Kong Economic Times A15)

Golden Resorts Group (1031 HK) expects its consolidated profit attributable to shareholders for the year ended 31 December 2010 to decline. (SingTao Daily B4)

Hengli Properties Development (169 HK) has successfully acquired the land use right of a parcel of land in Gulou District of Fuzhou City at the price of 1,200,000,000 yuan. The land would be used to develop high-end commercial properties with residential building projects. (SingTao Daily B4)

i-CABLE Communications’ (1097 HK) net loss increased to HK$267 million. Loss per share was 13.3 HK cents. The company has resolved not to declare any final dividend. (SingTao Daily B5)

Midland Holdings (1200 HK) announces that Kwok Ying Lung has tendered his resignation as executive director with effect from 15 March. Kwok will continue to serve as a Co-Chief Executive Officer of its China division. (SingTao Daily B4)

SIM Technology Group Limited (2000 HK) proposes to issue Taiwan Depository Receipts totaling 137,500-165,000 thousand units, with each unit of Taiwan Depository Receipt representing 2 units of its shares, the entire issuance will represent up to 330,000 thousand of its shares in total. (SingTao Daily B4)

Skyworth Digital (751 HK) announced that the company’s TV sales revenue for Feb. 2011 dropped 52 percent year-on-year and TV sales volume recorded a decline of 39 percent year-on-year. (Hong Kong Economic Times A16)

SOHO China (410 HK) has entered into an agreement, agreeing to purchase equity interest in the FuxingLu SOHO Project for a consideration of 788 million yuan. The deal will take its equity interest in the project from around 48.48 per cent to 80 per cent. (SingTao Daily B4)

The Bank of East Asia (23 HK) plans to issue 2 billion yuan RMB financial bonds with a term of 2 years in Mainland China. The proceeds raised will be used for the purpose of business expansion and development of this bank. The interest rate is yet to be settled. (Hong Kong Economic Journal P8)

The Hong Kong and China Gas Company (3 HK) announced the company’s net profit for 2010 increased by 6 percent year-on-year to HK$5,585 million. The company recommended a final dividend of HK 23 cents per share and proposed to make a bonus issue of one new share credited as fully paid for every ten shares. (Hong Kong Economic Times A15)

Peak Sport (1968 HK) announced its net profit for 2010 increased by 30.9 percent to 822 million yuan. The company aims to promote its net profit margin to 40 percent over the next 2 to 3 years. In order to cut production costs and expand productivity, Peak Sport will focus on development of new plants in Jiangxi Province and Fujian Province. (Hong Kong Economic Times A15)

World Wide Touch Technology (1282 HK) notes that despite the earthquake and tsunami in Japan, the company has prepared reserves of spare parts to meet the demand of businesses over the next three months. The company also promises that there will be little influence on spare parts supply. Japan’s spare parts supply only took up 0.2 percent of the total demand of World Wide Touch Technology. (Hong Kong Economic Journal P9)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 14th, 2011

IPO: Galaxy Resources suffered a setback from earthquakes in Japan. The company planned to delay its IPO in Hong Kong due to unclear prospect in Hong Kong stocks. (Hong Kong Economic Times A12)

BYD Company’s (1211 HK) net profit for 2010 plunged 33.5 percent. The company’s debt ratio surged to 65 percent from 8 percent in 2009. Mr. Wang Chuan-fu, CEO of BYD Company notes that the company does not intend to expand automobile capacity this year and will control the number of distributors. The company intends to promote its net profit margin and cut its liabilities through issuance of A shares and other channels of proceeds. (Hong Kong Economic Journal P8)

China Fire Safety Enterprise (445 HK) expects its audited consolidated annual results for the year ended 31 December 2010 to be a loss on significant increase in allowance for doubtful debts due to the bad receivables recoverability.(SingTao Daily B4)

Coslight Technology International (1043 HK) expects a substantial decrease in profit for the year ended 31 December 2010 due to a substantial decrease in profit from its core business in manufacturing and supplying sealed lead acid batteries. (SingTao Daily B4)

China Vanadium Titano-Magnetite Mining Company (893 HK) announced its net profit for 2010 saw an increase of 62.7 percent year-on-year to RMB533 million. The company proposed a final dividend of HK$0.062 per share. (Hong Kong Economic Times A13)

China Zhengtong Auto Services (1728 HK) announced its net profit experienced an increase of 89 percent to 276 million yuan for the year ended 31 December 2010. No final dividend per share was proposed. (Hong Kong Economic Times A13)

Evergrande Real Estate Group (3333 HK) announced in Feb the company realized contract sales revenue of RMB4.5 billion, or an annual increase of 260 percent. The company now has 40 percent of its total projects in the third-tier cities in Mainland China. The company also intends to march into the market of the first-tier cities through its low-income housing construction projects. (Hong Kong Economic Times A13)

First Tractor Company Limited (38 HK) has successfully won a bid for an acquisition of certain assets of Mc Cormick France SAS at a bidding price of €8,000,000. (SingTao Daily B2)

Fubon Financial (636 HK) has notified Fubon Bank that after taking into account market feedback on the privatization scheme proposal, the cancellation consideration under the scheme proposal is to be increased from HK$5 for every scheme share cancelled to HK$5.2 for every scheme share cancelled and the scheme proposal will be adjusted accordingly. (SingTao Daily B2)

Hong Kong Exchanges and Clearing Limited (388 HK) announces that between August 2009 to July 2010, 62 proposed transactions were identified to have characteristics of backdoor listings, of which 5 cases were considered extreme and to be treated as new listings. (SingTao Daily B5)

Ping An Insurance (2318 HK) announced after suspension of trading yesterday that Chow Tai Fook Enterprises, privately held by Mr. Cheng Yu-tung, Chairman of New World Development (0017), planned to subscribe for 272,000,000 new H shares in the company, representing approximately 3.44 percent of the total enlarged issued share capital of the company. The aggregate subscription price was HK$19,448 million. (Hong Kong Economic Times A12)

Scud Shenzhen, a wholly-owned subsidiary of SCUD Group (1399 HK), has entered into a sale and purchase agreements with Fujian Netcom and has agreed to sell various types of batteries to the latter for a total consideration of around 5,000,000 yuan. (SingTao Daily B2)

The Commercial Court of Nanterre has delivered a judgment of first instance which ruled that all the defendants, namely, TCL Corporation (1070 HK), TCL Multimedia Technology and four of its wholly owned subsidiaries be jointly and severally liable to compensate the official liquidator of TTE Europe (i) damages of 23,100,000 euro and (ii) legal costs of 30,000 euro. TCL Multimedia Technology disagrees with the first writ judgment and will take all necessary steps to appeal against it. (SingTao Daily B2)

The Hong Kong Building (145 HK) and Loan Agency expects a substantial increase in loss for the year ended 31 December 2010, mainly attributable to the fair value changes on financial asset held for trading. (SingTao Daily B4)

Zhejiang Expressway (576 HK) announced its net profit for 2010 increased by 4.2 percent year-on-year to RMB1.87 billion, with earnings per share of RMB0.4309. The company recommended a final dividend of RMB0.25 per share. The company notes that it is positively seeking acquisition opportunities of roads and has acquisition targets but no further details to be disclosed for the time being. (Hong Kong Economic Journal P8)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 11th, 2011

Besunyen Holdings (926 HK) announces that profit for 2010 was 59.655 million yuan, a decrease of 57.9 per cent. Basic earnings per share amounted to around 0.05 yuan. It recommended payment of a final dividend of HK$0.01 per share. (Hong Kong Economic Times A18)

BYD Company (1211 HK) saw net profit sink 33.5 per cent to 2,520 million yuan for the year ended 31 December 2010, far worse than expectations. Turnover expanded by 18.3 per cent to 46,690 million yuan. (Hong Kong Economic Journal P9)

China Resources Power Holdings (836 HK) has agreed to acquire 100 per cent of the issued and outstanding share capital of AACI (HK) for a total consideration of US$669 million. AACI (HK) holds 56 per cent equity interest in Shanxi Asian American-Daning which operates the Daning Coal Mine. (Hong Kong Economic Journal P9)

Manulife (945 HK) announces that it has completed its offering of 8 million Non-cumulative Rate Reset Class 1 Shares Series 3 at a price of C$25 per share to raise gross proceeds of C$200 million. (SingTao Daily B14)

Orient Overseas (International) (316 HK) has recorded a profit attributable to shareholders for the year ended 31st December 2010 of US$1,867 million. The company has recommended the payment of a final dividend of US23 cents and a special dividend of US209.3 cents per ordinary share. (Hong Kong Economic Journal P9)

Shenguan Holdings (Group) (829 HK) acquired through Wuzhou Shenguan T-bonds, the 3.45 per cent one-year term certificate treasury bonds issued by the Ministry of Finance, in the aggregate principal amount of 40,000,000 yuan last Friday. (SingTao Daily B14)

Shanghai Shimao (813 HK), a Shanghai-listed subsidiary of Shimao Property Holdings, saw 2010 net profit attributable to equity holders of Shanghai Shimao balloon 324 per cent yoy to 874 million yuan. Operating income rocketed 331 per cent to 4.57 billion yuan. Shimao Property Holdings has a 64.21 per cent attributable interest in Shanghai Shimao. (Hong Kong Economic Journal P10)

Zhejiang Expressway (576 HK) booked profit attributable to owners for the year ended December 31, 2010 of 1,870 million yuan, representing an increase of 4.2 per cent year-on-year. A final dividend of RMB25 cents per share was recommended. (Hong Kong Economic Times A14)

China Glass Holdings (3300 HK) announced its net profit amounted to 305 million yuan last year, or up 125 percent against the same period of the previous year. The company’s turnover was 3,155 million yuan, or an annual increase of 52 percent. The earnings per share were 0.664 yuan. The company proposed a final dividend of HK$0.03 per share. The company proposed a one-to-one share split on the company’s share capital to improve share liquidity. (Hong Kong Economic Journal P7)

Chiho-Tiande Group (976 HK) announced its net profit saw an increase of 88 percent year-on-year to HK$350 million in 2010. The company recommended the payment of a final dividend of HK9 cents per share. (Hong Kong Economic Times A16)

Kingway Brewery (124 HK) announced that Heineken-APB (China) Pte Ltd., the second largest shareholder of the company, planed to sell its entire interest, totaling 21.37 percent of issued share capital of the company, at the total consideration of 1.08 billion yuan to a potential purchaser. According to information of equity movement released by the Hong Kong Stock Exchange, China Resources (0291) declared holding of interests in Kingway Brewery as mentioned above on 9 March 2011. (Hong Kong Economic Times A16)

San Miguel Brewery (236 HK) Hong Kong announced its loss for 2010 attributable to its shareholders increased by 120 percent to HK$736 million with loss per share was HK$1.97. No final dividend per share was proposed. (Sing Tao Daily B3)

Sinotrans Shipping (368 HK) announced that the company saw an increase of 19.9 percent year-on-year in profit attributable to the equity holders of the company to US$128 million last year with earnings per share of US3.19 cents and a final dividend of HK 6 cents per share and an interim dividend of HK 2 cents per share proposed. The company’s gross profit margin dropped to 41.3 percent. (Hong Kong Economic Journal P7)

The United Laboratories International (3933 HK) announced that the bulk amoxicillin product researched by United Laboratories (InnerMongolia) Co., Ltd. (聯邦制藥(內蒙古)有限公司), a wholly-owned subsidiary of the company was approved by China State Food and Drug Administration. United Laboratories is currently the only one pharmacy manufacturer in China applying the enzymatic production process in bulk amoxicillin production. (Hong Kong Economic Times A16)

Tingyi (Cayman Islands) Holding Corp (322 HK). announced that the company resume providing products to Carrefour, maintaining the retail prices same as those of other marketplaces with 2.3 yuan a classic packaged bag of noodles. (Hong Kong Economic Times A16)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 10th, 2011

China State Construction International (3311 HK) announced its new contracts for January and February this year value at approximately HK$6.47 billion, or an increase of 3.49x year-on-year. The company’s on-hand contract value amounted to about HK$58.58 billion at the end of February, among which the backlog was about HK$39.26 billion. (Sing Tao Daily B3)

Beijing Telecom (728 HK), subsidiary of China Telecom Corporation, announced that the company planned to increase handset subsidies of 3G smart phones by 25 percent and decrease handset subsidies of 2G phones by 25 percent. (Sing Tao Daily B3)

China Zhongwang (1333 HK) announced its net profit for 2010 was RMB2.6 billion, dropping 26 percent against the same period last year. The company’s basic earnings per share for 2010 was RMB0.48 and it recommended a final dividend of RMB0.19 per share. (Sing Tao Daily B3)

GZI REIT Asset Management (405 HK) recorded distributable income of 220 million yuan, up 0.09 per cent yoy. The final distribution to the unit holders will be 0.0983 yuan. (Hong Kong Economic Journal P16)

Kaisa Group Holdings (1638 HK) registered profit attributable to equity holders of 3,636 million yuan, increased by 564 per cent. Earnings per share amounted to RMB73.8 cents, No dividend has been declared. (Hong Kong Economic Times A16)

KWG Property Holding’s (1813 HK) profit attributable to owners of the parent amounted to 1,282 million yuan, a growth of 78 per cent. Earnings per share increased by 69.2 per cent to RMB44 cents. It proposed to declare final dividend of RMB11 cents per ordinary share. Gearing ratio was 47.7 per cent.(Hong Kong Economic Journal P16)

Lianhua Supermarket (980 HK) booked profit attributable to shareholders 623 million yuan, a growth of 22.84 per cent. Gross profit margin was 13.95 per cent, an increase of 0.89 percentage points. (Hong Kong Economic Times A16)

Metallurgical Corporation of China (1618 HK) notes that despite of substantial changes in security situation in Libya, the company will not slow down its overseas businesses. Since the company mainly focuses on businesses in Australia, it will not suffer severe impact from the suspension of projects of the company in Libya, notes Mr. Jing Tianliang, chairman of Metallurgical Corporation of China Ltd. (Sing Tao Daily B5)

NVC Lighting Holding (2222 HK) expects its consolidated profit attributable to owners for the year ended 31 December 2010 to be around USD70 million, a significant increase as compared to that for the year ended 31 December 2009. (Hong Kong Economic Times A16)

Powerlong Real Estate (1238 HK) decided to issue RMB750, 000,000 US$ settled 11.5 percent senior Bonds due 2014. The offering price of the Bonds will be 99.383 percent of the principal amount of the bonds. (Sing Tao Daily B3)

Value Partners Group (806 HK) announced its net profit for 2010 was HK$653 million, or an increase of 104 percent over the same period last year, with basic earnings per share of HK 40.1 cents. The company proposed a final dividend of HK16 cents per share. (Sing Tao Daily B3)

Wing Hang Bank (302 HK) announced its net profit for 2010 saw an increase of 35 percent to HK$1,626 million, with basic earnings per share of HK$5.51. The bank proposed a final dividend of HK$1.08 per share. (Sing Tao Daily B3)

Yorkey Optical International (2788 HK) announced its profit for 2010 was US$5.86 million, or a decrease of 34 percent year-on-year. The company proposed a final dividend of HK3 cents per share and a special dividend of HK2.5 cents per share. (Sing Tao Daily B3)

Zhong An Real Estate (672 HK) places 50,000,000 placing shares at a price of HK$1.4 per placing share. The net proceeds of HK$68.7 million is intended to be used for investment in or development of the property management and general working capital. (Hong Kong Economic Journal P16)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 9th, 2011

Cathay Pacific Airways (293 HK) announced that the company’s profit attributable to its shareholders increased by nearly two times to HK$14.048 billion for 2010, a record high for the company’s profit, which also made it the most profitable airline company in the world. The company’s earnings per share for 2010 was HK$3.571. (Sing Tao Daily B2)

China Agri-Products Exchange Limited (149 HK) announced its loss for 2010 was approximately HK$336 million against the loss for 2009 of over HK$300 million. (Sing Tao Daily B3)

China Communications Construction (1800 HK) booked profit attributable to equity holders for the year ended 31 December 2010 of RMB9,863 million, a rise 37 per cent. The company recommended the payment of a final dividend of RMB0.16 per share for the year. (Hong Kong Economic Journal P11)

China Overseas Land & Investment (688 HK) registered contracted sales of 4.25 billion last month, climbing 52.9 per cent yoy. It recorded contracted sales of 12.01 billion for the first 2 months. (Hong Kong Economic Times A16)

Convenience Retail Asia (8052 HK) announced its net profit saw an annual increase of 51 percent to HK$136 million. The company proposed a final dividend per share of HK8.5 cents. (Sing Tao Daily B5)

Geely Automobile (175 HK) announced that the total sales volume for the month of February 2011 was 31,800 units, an increase of approximately 10.8 percent over the same period of last year. (Sing Tao Daily B3)

Harbour Centre Development (51 HK) announced its profit attributable to shareholders of the company increased to HK$1,015 million for 2010. The company recommends a final dividend of HK$0.15 per share. (Sing Tao Daily B3)

Hutchison Whampoa (13 HK) announces that the maximum offering price per unit is US$1.08. Expected day for commencement of trading in Singapore is 18 March 2011. (Hong Kong Economic Journal P11)

Hysan Development (14 HK) saw profit attributable to shareholders go up 31.9 per cent to HK$3.844 billion. It recommended the payment of a final dividend of HK60 cents per share. (Hong Kong Economic Journal P14)

Maoye International Holdings (848 HK) entered into a lease agreement with Shanxi Maylong Real Estate Development Group Co., Ltd. Maoye will lease from Maylong Group the commercial property of Phase I of Maylong International Commercial Plaza for opening of a new store, with a term of a total of 15.5 years. (Sing Tao Daily B3)

Powerlong Real Estate Holdings (1238 HK) has entered into a facility agreement with a syndicate of banks. A 36-month term loan facility in the initial principal amount of US$47,000,000, with a provision for an additional amount of up to US$50,000,000 under certain circumstances, was made available. (Hong Kong Economic Journal P15)

Prudential (2378 HK) posted net profit of £1.43 billion, up 111.7 per cent. It recommended a final dividend of 17.24 pence per share. (Hong Kong Economic Times A12)

Singamas Container Holdings’ (716 HK) results returned to the black for the year ended 31 December 2010. The company recorded profit of US$94.23 million. (Hong Kong Economic Times A16)

Sinotruk (Hong Kong) (3808 HK) announced its sales volume for the first two months in 2011 saw an annual increase of 64.58 percent to 14,157 vehicles. (Sing Tao Daily B3)

Sun Innovation Holdings Limited (547 HK) announced its loss attributable to owners of the company was over HK$29 million with loss per share of HK$0.003 for 2010. The company does not recommend the payment of a dividend for 2010. (Sing Tao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 8th, 2011

IPO: Sources say Inner Mongolia Yitai Coal plans to list in April to raise around US$1.5 billion, with UBS as one of the arranging banks. (Hong Kong Economic Journal P6)

IPO: Shanghai Pharmaceuticals is said to plan to list in HK in April to raise around US$1.2 billion. Sponsors include Goldman Sachs, Credit Suisse and Deutsche Bank. (Hong Kong Economic Journal P6)

Air China Limited (753 HK) decided to purchase five Boeing747-8 aircraft from Boeing Company at a consideration of HK$12 billion. (Sing Tao Daily B3)

UBS expects Cathay Pacific Airways’ 2010 (293 HK) net profit to be 14 billion, a yoy increase of 1.97 times. (Hong Kong Economic Times A2)

China Rongsheng Heavy Industries Group (1101 HK) announced its net profit for the year ended 31 December 2010 was RMB1.72 billion, or an increase of 32 percent year-on-year. The company recommends final dividend of RMB6.8 cents per share. (Sing Tao Daily B4)

China SCE Property (1966 HK) booked contracted sales of around 370 million yuan in Feb, surging 69 per cent yoy. Contracted sales for the first 2 months amounted to around 1.02 billion yuan, jumping 265 per cent yoy. (Hong Kong Economic Journal P13)

China Windpower (182 HK) announced its profit for 2010 was HK$427 million. The company plans to increase its installed capacity by 700MW-800 MW this year. The company’s total installed capacity for 2010 was 1,064 MW.(Sing Tao Daily B4)

CLP Holdings Limited (2 HK) plans to inject AUD10 billion in Australia over the next ten years for thermal power and renewable energy projects. The company has no intention of spinning off TRUenergy. (Sing Tao Daily B3)

Fubon Bank (Hong Kong) Limited (636 HK) announced its net profit increased by 10.6 times to HK$267 million, with earnings per share of HK15.62 cents for 2010. The company proposed a final dividend of HK3 cents per share. (Sing Tao Daily B3)

Hong Kong Aircraft Engineering Company (44 HK) announced its net profit increased by 2 percent to HK$700 million, with HK$4.21 for earnings per share for 2010. (Sing Tao Daily B3)

Manulife Financial Corporation (945 HK) will issue no more than 8 million preferred shares priced at CAD25 per share to raise proceeds of CAD200 million, which is expected to be as Tier 1 Capital for Manulife. (Sing Tao Daily B3)

Pacific Plywood Holdings (767 HK) proposes to raise gross proceeds of around HK$222 million by issuing 2.774 billion rights shares to qualifying shareholders by way of a rights issue at the subscription price of HK$0.08 per rights share on the basis of 30 rights shares for every 1 existing share. (Hong Kong Economic Journal P10)

SPG Land (Holdings) (337 HK) sets its 2011 sales target at 8 billion yuan, up only 25 per cent over its completed contracted sales last year. (Hong Kong Economic Journal P13)

Sources say Sunac China Holdings (1918 HK) cancels its global roadshow presentations and will postpone its notes issue plan. (Hong Kong Economic Journal P8)

Want Want China (151 HK) announced its net profit for the year ended 31 December 2010 was US$358 million (approximately HK$2.79 billion), or a year-on-year increase of 14.65 percent, with earnings per share of US2.71 cents. The company proposed a final dividend of US1.36 cents per share. (Sing Tao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 7th, 2011

China Kingstone Mining (1380 HK) opened its retail book yesterday. Its offering has not been fully covered yet. (Hong Kong Economic Journal P5)

China Resources Cement (1313 HK) announced its profit attributable for owners of the company increased by 100 percent to HK$2,040 million with consolidated gross profit margin of 31.6 percent, or two pct up year-on-year. (Sing Tao Daily B4)

China Shenhua Energy (1088 HK) shares went up 3.19 per cent to end at HK$34 each yesterday. China Coal Energy (1898) and Yanzhou Coal Mining (1171) rose 1.94 and 1.86 per cent respectively yesterday. (Hong Kong Economic Journal P5)

CSR Corporation Limited (1766 HK) proposes to issue shore-term debentures with an amount no more than 5 billion yuan. This proposal is to be approved by shareholders of the company. (Sing Tao Daily B3)

Hilong Holding’s (1623 HK) offer price ranges between HK$2.5 and 3.7 per share. It will start its IPO this Friday and list on 24 Mar. Morgan Stanley and Standard Chartered are its sponsors. (Hong Kong Economic Journal P5)

International Taifeng Holdings (873 HK) announced its profit attributable to share holders of the company increased by nearly 68 percent to 416.8 million yuan for 2010. The company declared a final dividend of 0.113 yuan per share. (Sing Tao Daily B3)

Kingboard Chemical Holdings (148 HK) announced that the company’s net profit experienced an increase of 51 percent year-on-year to a new high of HK$3.6 billion for 2010. Mr. Chadwick Mok Cham Hung, executive director of Kingboard Chemical Holdings Limited, notes that the company’s fixed asset investment is approximately HK$1.5 billion-HK$2 billion this year and real estate investment will depends on market conditions. (Sing Tao Daily B3)

Kingboard Laminates (1888 HK) saw profit go up 38 per cent to HK$2.28 billion for the year ended 31 December 2010. Earnings per share amounted to HK76.0 cents. A final dividend per share of HK18.0 cents was proposed. (Hong Kong Economic Times A14)

Citi ups its price target for PetroChina Company (857 HK) from HK$11.6 to 12, saying that it will benefit from rising oil prices. (Hong Kong Economic Times A3)

Powerlong Real Estate (1238 HK) propose to conduct an international offering of US$ settled RMB senior bonds. It is reported that they are 3-yr bonds with yield of around 11.75 percent. (Hong Kong Economic Times A14)

SPG Land (Holdings) Limited (337 HK) recorded its profit attributable to shareholders of the company was 890 million yuan for the year ended 31 December 2010, or an increase of 31 percent, with basic earnings per share was 0.847 yuan. (Sing Tao Daily B3)

Sun Hung Kai Properties (16 HK) plans to expand its brand of “International Commerce Centre (ICC)” into Nanjing after its ICC project in Shanghai. The ICC project will be named as “Nanjing ICC”, focusing on a combination of internationalisation, modernization and business integration. (Sing Tao Daily B5)

The Wharf (Holdings) Limited (4 HK) is expanding its land bank positively in Mainland China. The company announced that it successfully bid for a piece of land for residential buildings in Hangzhou, China at a consideration of 787 million yuan. (Sing Tao Daily B3)

Wingsway Coking Coal Holdings ( 1733 HK) announced that the company’s net profit saw an increase of 80 percent year-on-year to HK$930 million for 2010. The company also recommended a final dividend of HK$0.061 per share for the year ended 31 December 2010. (Sing Tao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 4th, 2011

IPO: Foreign media reports that UK listed Kazakhmys may sell around 2 per cent equity interest to go public in HK. Rumours spread that it is to raise up to 4.68 billion. (SingTao Daily B3)

ASM Pacific Technology (522 HK) booked net profit of HK$2,842 million for the year ended 31 December 2010, surging 203.8 per cent. A final dividend of HK$2.1 and a special dividend of HK$1.1 per share were declared. (SingTao Daily B4)

Beijing Capital Land (2868 HK) announced that the company’s revenue from contract sales amounted to 470 million yuan, or 30 percent year-on-year increase, for February, with a contract sales area of 39,000 sqm, or 18 percent year-on-year increase. (Hong Kong Economic Times A14)

It is reported that China Kingstone Mining’s (1380 HK) international tranche has been fully covered. The group plans to raise up to 1.943 billion. (SingTao Daily B3)

Citic Pacific Limited (267 HK) announced that the company’s profit attributable to shareholders achieved HK$8.92 billion, with an annual increase of 50 percent, for the year ended 31 December 2010, the second highest in the history of the company. The company recommends paying a final dividend of HK$0.3 per share. (Hong Kong Economic Times A12)

Culturecom Holdings’ (343 HK) chairman and non-executive director Chu Bong Foo transferred 24.29 million shares to a non-profit making charity organisation in the realm of culture yesterday. (SingTao Daily B6)

Glorious Property (845 HK) announced the company’s revenue from contract sales increased to 680 million yuan, with a contract sales area of 45,000 sqm for February. (Hong Kong Economic Times A14)

Guangzhou Pharmaceutical Company (874 HK) announces that Guangzhou Wang Lao Ji Pharmaceutical and Guangzhou Baiyunshan Hutchison Whampoa Chinese Medicine have held a cooperation signing ceremony. Wang Lao Ji was authorized as the national agent of Baiyunshan Herbal Tea Series. (SingTao Daily B3)

Hutchison Telecommunications (215 HK) was successful in bidding for acquiring the assigned spectrum for the provision of mobile telecommunications services in Hong Kong for a 15-year term. The spectrum utilization fee will be HK$1,077 million. The spectrums are 900 MHz. (Hong Kong Economic Journal P12)

MTR’s (66 HK) projects in Shenyang, Liaoning Province were suspended due to personnel changes among Shenyang Operating Maintenance Joint Venture (“沈陽營運及維修合營公司”), who holds 49 percent of stakes in the company. (Hong Kong Economic Journal P6)

SIM Technology Group (2000 HK) posted profit attributable to owners of HK$233 million for the year ended 31 December 2010, an increase of 80.9 per cent. It has recommended the payment of a final dividend of HK3 cents per share. (SingTao Daily B4)

Smartone Telecommunications (315 HK) announced that they bid for the auction of the Radio Spectrum for public mobile telecommunications services. The use of the Radio Spectrum has a term of 15 years. The spectrum utilization fee will be HK$875 million. The spectrums are 832.5 MHz – 837.5 MHz paired with 877.5 MHz – 882.5 MHz(i.e. 2 x 5 MHz). (Hong Kong Economic Times A14)

Sunac China (1918 HK) plans to issue senior notes of approximately US$300 million, with a term of 5 years. The proposed notes issue is being undertaken to enable the company to finance new land bank acquisition and for general corporate purposes. (Hong Kong Economic Times A14)

SIM Technology Group (2000 HK) posted profit attributable to owners of HK$233 million for the year ended 31 December 2010, an increase of 80.9 per cent. It has recommended the payment of a final dividend of HK3 cents per share. (SingTao Daily B4)

BaWang International (1338 HK) expects to lose not more than 130 million yuan for the year ended 31 Dec 2010, which was principally attributable to a substantial decline in the sales of its shampoo products in 2H10 in connection with the “dioxane incident” as disclosed in its announcement dated 14 Jul 2010. (Hong Kong Economic Journal P5)

It is reported that BYD Company’s (1211 HK) Feb sales was 26,521 vehicles, down 49 per cent as compared to the 52,054 vehicles in Jan. (Hong Kong Economic Times A11)

China Gas (384 HK) has resolved by majority vote that Li Xiao Yun and Xu Ying be removed as the chairman and the vice chairman respectively and that Wong Sin Yue, Cynthia, remaining as an independent non-executive director, be appointed as the non-executive chairman all with effect from 3 Mar 2011. (Hong Kong Economic Journal P5)

China Resources Cement (1313 HK) saw profit attributable to owners climb 102 per cent to HK$2.04 billion for the year ended 31 December 2010. Earnings per share was HK$0.313. A final dividend per share of HK$0.045 was proposed. (Hong Kong Economic Journal P5)

Hutchison Whampoa (13 HK) proposes to spin off and list Hutchison Port Holdings Trust. The Singapore public offer will commence on Monday, 7 Mar 2011. (Hong Kong Economic Times A11)

JP Morgan sets a Neutral rating and HK$31.8 price target for MTR Corporation (66 HK). Credit Suisse sets an Outperform rating and Goldman Sachs sets a Buy rating on the company. (Hong Kong Economic Journal P6)

Xinjiang Tianye Water Saving Irrigation System (840 HK) has been informed by its ultimate parent company Xinjiang Tianye (Group) that Tianye Holdings is currently engaged in preliminary discussions with Guo Shu Qing and Wang Xiao Xian regarding a possible acquisition of all the shares of the company they held. Guo and Wang hold 61,386,798 domestic shares and 50,335,128 domestic shares respectively. (Hong Kong Economic Journal P5)

IPO: Hilong Group kicks off roadshow today for its IPO in Hong Kong of HK$1 billion -HK$1.48 billion. (Sing Tao Daily B14)

China XLX Fertiliser (1866 HK) plans to speed up its expansion of upstream coal business to offset the effects brought by hiking coal prices. The company is expected to see a higher gross margin for the year along with raising sale prices of products at the second half of the year. (Hong Kong Economic Journal P4)

Digital China (861 HK) is cooperating with a number of cities in Mainland China on exploring “Octopus” business for Mainland China. The company aims to promote its gross margin to 20 percent. (Hong Kong Economic Journal P6)

Mr. Lee Ka Kit, vice-chairman of Henderson Land Development (12 HK), anticipates that the company will see turnovers of properties in Mainland China reach 10 billion yuan this year. Due to high land prices in the first-tier and second-tier cities in Mainland China, the company now looks for land bank for development in the third-tier cities in Mainland China. (Sing Tao Daily B15)

Mr. Liu Chuanzhi, chairman of Lenovo Group (992 HK), noted yesterday that the company experienced a slowdown in its business in Mainland China for the fourth quarter last year. Benefited from increases in market shares of European & US markets and emerging markets, the company is expected to see an increase of 1.4x in profit year-on-year. (Sing Tao Daily B15)

Skyworth Digital (751 HK) launched the world first CCFL 3D TV sets last week. The price of a CCFL 3D TV is roughly the same with that of an ordinary LCD TV. The company anticipates the sales of 3D TVs will account for 20 percent of the sales volume of the company at the end of this year. (Hong Kong Economic Times A16)

The United Laboratories International Holdings (3933 HK) anticipates its profit is expected to be at least 1.76 times of that for the year ended 31 December 2009, or to be at least HK$950 million for the year ended 31 December 2010. (Sing Tao Daily B14)

Zhaojin Mining Industry Company (1818 HK) recorded its profit at 1.2 billion yuan, or an increase of 59.4 percent year-on-year. Earnings per share attributable to ordinary equity holders of the Company amounted to approximately 0.82 yuan. (Sing Tao Daily B14)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 3rd, 2011

IPO: Sources say Milan listed Piquadro intends to float in Hong Kong and is in talks with investment banks and financial advisers regarding listing arrangements. (SingTao Daily B3)

Aluminum Corporation of China Limited (2600 HK) announced that benefited from the increase in aluminum prices and sales and production capacity, the company’s profit attributable to shareholders amounted to RMB0.778 billion. Earnings per share attributable to the equity holders of the Company was RMB0.06. The company notes the low level of profit for 2011 mainly due to the growth of costs and excess capacity. (Hong Kong Economic Journal P10)

China Railway Construction Corporation (1186 hk) undertakes three EPC (engineering, procurement and construction) projects in Libya. The outstanding contract value amounts to US$ 3,551 million, accounting for 2.3 percent of the Company’s total outstanding contract value. (Hong Kong Economic Times A9)

Mr.Gui Shengyue, CEO of Geely Automobile Holdings Limited (175 HK), noted that the company has prepared for marching into European and US markets and substantial improvement in businesses could be expected for 2011 and 2012. The company aims to realize its sales of 2 million automobiles for 2015, half of which will be from sales overseas. (Hong Kong Economic Journal P8)

Hang Seng Bank (11 HK) CEO Leung Ko May Yee Margaret says the bank’ s loan last year jumped 37 per cent, better than its peers, and the bank is considering issuing quarterly reports. Credit Suisse and Standard Chartered maintain an Outperform rating on the bank while Morgan Stanley maintain an Underperform rating on it. (SingTao Daily B3)

Macquarie sets an Outperform rating and 711 pence price target for HSBC Holdings (5 HK). Credit Suisse and CLSA set an Outperform rating for the bank as well. JP Morgan and Barclays set an Overweight rating for it. (SingTao Daily B2)

Maoye International Holdings’ (848 HK) profit attributable to shareholders of the company saw an increase of 22.7 per cent to 577 million yuan for the year 2010, with basic earnings per share was 0.112 yuan. (Hong Kong Economic Times A8)

Nine Dragons Paper (2689 HK) chairman Cheung Yan bought 580,000 shares in the company on Mon at HK$8.67 a share on average, taking Cheung’s shareholding in the company to 67 per cent. (SingTao Daily B3)

Overseas Chinese Town (3366 HK) announced that the company’s net profit for the year ended 31 December 2010 recorded 66.713 million yuan, with basic earnings per share was 0.15 yuan. Final dividend of HK cents 3 per share was declared. (Hong Kong Economic Times A8)

Pacific Basin Shipping (2343 HK) booked profit of US$104 million for the year ended 31 December 2010, down 5.4 per cent, worse than expectations. A final dividend of HK 16.5 cents was proposed. (SingTao Daily B2)

Samling Global Limited (3928 HK) plans to open 2,000 stores in mainland China over the next 3 years, up from over 1,000 stores. (Hong Kong Economic Journal P6)

Sands China’s (1928 HK) net revenues saw an increase of 25.5 percent to US$4.14 billion. Profit for the year 2010 was US$667 million (approximately HK$ 5,187 million). (Hong Kong Economic Times A9)

Shanghai Tonva Petrochemical (8251 HK) proposes to transfer listing of its H shares from GEM to the Main Board. The transfer of listing is subject to approvals from the shareholders, CSRC and the Stock Exchange. (SingTao Daily B3)

Shimao Property Holdings (813 HK) reportedly plans to issue US$350 million senior notes due 2018. It is reported that the notes will bear interest at a rate of 10.875-11 per cent per annum. (SingTao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 2nd, 2011

Cheung Kong Infrastructure (1038 HK) and Power Assets have signed agreements to jointly acquire the Meridian Cogeneration Plant in Saskatchewan, Canada from Husky Energy. The net consideration for the 75 per cent additional interest is CAD91.4 million. CKI and Power Assets' effective stake in the plant will increase to 100 per cent after the deal. (SingTao Daily B4)

China XLX Fertiliser (1866 HK) saw net profit rise 21 per cent to 145 million yuan for the year ended 31 December 2010. Gross profit margin went down to 12.8 per cent. Chairman Liu Xing Xu expects the gross profit margin this year will bounce back to over 13 per cent, saying that the rise in coal prices will not last long. (SingTao Daily B4)

Chaoda Modern Agriculture (682 HK) announced its interim results for the six months ended 31 December 2010. The company’s profit for the period attributable for shareholders increased by 13 percent to 1,547 million yuan. The fair value gains on available for sale investment was 580 million yuan, which stood out in this announcement of interim results. (Hong Kong Economic Times A12)

Fosun International (656 HK) Announced that Fosun Pharma, a subsidiary of Fosun International Limited, has proposed listing of H shares on the Hong Kong Stock Exchange. The total number of H shares to be offered is proposed not to exceed 20 percent of Fosun Pharma’s total issued shares after the completion of the Proposed Global Offering. (Hong Kong Economic Times A12)

HSBC Holdings (5 HK) announced its results for the year ended 31 December 2010. The company’s profit attributable for its shareholders reached HK$57,597 million, or an increase of 27 percent on a year-on-year base. HSBC notes that the total profit outside Hong Kong area makes a contribution of 46 percent of the company’s profit for the year. (Hong Kong Economic Journal P4)

Lifestyle International (1212 HK) saw net profit increase 23.2 per cent to HK$1,407.5 million for the year ended 31st December 2010. Final dividend of HK cents 19 per share was declared. (SingTao Daily B2)

Mingyuan Medicare Development (233 HK) has agreed to place up to 320,000,000 existing shares at the placing price of HK$0.81 per share to raise around HK$259 million. (SingTao Daily B2)

New World China Land (917 HK) booked revenues of HK$5.928 billion and profit attributable to equity holders of HK$1.508 billion for the six months ended 31st December 2010, jumping 101 and 60 per cent respectively. It have declared an interim dividend of HK$0.03 per share. (SingTao Daily B3)

New World Development Company (17 HK) recorded total revenue of HK$15.076 billion and profit attributable to shareholders amounted to HK$4.353 billion for the six months ended 31 December 2010, up 24 per cent and down 24 per cent respectively. It have declared an interim dividend in scrip form equivalent to HK$0.1 per share. (SingTao Daily B3)

Sound Global Ltd. (967 HK) announced that the comprehensive income of the company saw an annual increase of 3 percent to 289 million yuan for the year ended 31 December 2010, with final dividend at SGD0.01. (Hong Kong Economic Times A12)

Sun Hung Kai Properties Limited (16 HK) announced that the company’s underlying profit for the year 2010, excluding the effect of fair-value changes on investment properties, was HK$10,416 million, with an increase of 60 per cent on a year-on-year basis. (Hong Kong Economic Journal P6)

Market sources said yesterday that Tencent Holdings Limited (700 HK) planned to team up with China Central Television (CCTV) to build Internet TV stations for their TV broadcasting business. (Hong Kong Economic Journal P10)

Top Form (333 HK) intends to expand its business in other places in Southeast Asia, apart from its plants in China and Thailand. According to the company’s interim results for six months ended 31 December 2010, the gross profit margin dropped from 22 percent to 21 percent. Based on speculations on the bleak global market, the company notes that the gross profit margin shall suffer more pressure this year. (Hong Kong Economic Times A12)

Xinyi Glass Holdings’ (868 HK) net profit attributable to the equity holders for the financial year ended 31 December 2010 reached HK$1.57 billion, an increase of around 100 per cent. Earnings per share was 44.43 HK cents. It proposed to declare a final dividend of 13 HK cents per share. (SingTao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap March 1st, 2011

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 (2618 HK) 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’ 2010 (5 HK) 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 (145 HK) and Loan Agency 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

Hong Kong Stock Market Wrap Feburary 28th, 2011

Cheung Kong Infrastructure (1038 HK) and Power Assets have signed agreements to jointly acquire the Meridian Cogeneration Plant in Saskatchewan, Canada from Husky Energy. The net consideration for the 75 per cent additional interest is CAD91.4 million. CKI and Power Assets' effective stake in the plant will increase to 100 per cent after the deal. (SingTao Daily B4)

China XLX Fertiliser (1866 HK) saw net profit rise 21 per cent to 145 million yuan for the year ended 31 December 2010. Gross profit margin went down to 12.8 per cent. Chairman Liu Xing Xu expects the gross profit margin this year will bounce back to over 13 per cent, saying that the rise in coal prices will not last long. (SingTao Daily B4)

Chaoda Modern Agriculture (682 HK) announced its interim results for the six months ended 31 December 2010. The company’s profit for the period attributable for shareholders increased by 13 percent to 1,547 million yuan. The fair value gains on available for sale investment was 580 million yuan, which stood out in this announcement of interim results. (Hong Kong Economic Times A12)

Fosun International (656 HK) Announced that Fosun Pharma, a subsidiary of Fosun International Limited, has proposed listing of H shares on the Hong Kong Stock Exchange. The total number of H shares to be offered is proposed not to exceed 20 percent of Fosun Pharma’s total issued shares after the completion of the Proposed Global Offering. (Hong Kong Economic Times A12)

HSBC Holdings (5 HK) announced its results for the year ended 31 December 2010. The company’s profit attributable for its shareholders reached HK$57,597 million, or an increase of 27 percent on a year-on-year base. HSBC notes that the total profit outside Hong Kong area makes a contribution of 46 percent of the company’s profit for the year. (Hong Kong Economic Journal P4)

Lifestyle International (121 HK) saw net profit increase 23.2 per cent to HK$1,407.5 million for the year ended 31st December 2010. Final dividend of HK cents 19 per share was declared. (SingTao Daily B2)

Mingyuan Medicare Development (233 HK) has agreed to place up to 320,000,000 existing shares at the placing price of HK$0.81 per share to raise around HK$259 million. (SingTao Daily B2)

New World China Land (917 HK) booked revenues of HK$5.928 billion and profit attributable to equity holders of HK$1.508 billion for the six months ended 31st December 2010, jumping 101 and 60 per cent respectively. It have declared an interim dividend of HK$0.03 per share. (SingTao Daily B3)

New World Development Company (17 HK) recorded total revenue of HK$15.076 billion and profit attributable to shareholders amounted to HK$4.353 billion for the six months ended 31 December 2010, up 24 per cent and down 24 per cent respectively. It have declared an interim dividend in scrip form equivalent to HK$0.1 per share. (SingTao Daily B3)

Sound Global Ltd. (967 HK) announced that the comprehensive income of the company saw an annual increase of 3 percent to 289 million yuan for the year ended 31 December 2010, with final dividend at SGD0.01. (Hong Kong Economic Times A12)

Sun Hung Kai Properties Limited (16 HK) announced that the company’s underlying profit for the year 2010, excluding the effect of fair-value changes on investment properties, was HK$10,416 million, with an increase of 60 per cent on a year-on-year basis. (Hong Kong Economic Journal P6)

Market sources said yesterday that Tencent Holdings Limited (700 HK)planned to team up with China Central Television (CCTV) to build Internet TV stations for their TV broadcasting business. (Hong Kong Economic Journal P10)

Top Form (333 HK) intends to expand its business in other places in Southeast Asia, apart from its plants in China and Thailand. According to the company’s interim results for six months ended 31 December 2010, the gross profit margin dropped from 22 percent to 21 percent. Based on speculations on the bleak global market, the company notes that the gross profit margin shall suffer more pressure this year. (Hong Kong Economic Times A12)

Xinyi Glass Holdings’ (868 HK) net profit attributable to the equity holders for the financial year ended 31 December 2010 reached HK$1.57 billion, an increase of around 100 per cent. Earnings per share was 44.43 HK cents. It proposed to declare a final dividend of 13 HK cents per share. (SingTao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard