Tuesday, March 15, 2011

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