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
