Wednesday, March 23, 2011

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