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
