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
