Monday, March 28, 2011

Hong Kong Stock Market Wrap March 25th, 2011

China Minsheng Banking Corp (1988 HK) announced its net profit for the year ended 31 December 2010 was RMB17, 581 million, representing an increase of over 45 percent over the same period last year, with basic earnings per share of RMB0.66, or up nearly 30 percent. A final dividend of RMB10 cents per share was proposed. (Sing Tao Daily B2)

China Resources Land (1109 HK) plans to raise capital via debt financing and will consider issuing yuan bonds of between RMB2 billion and RMB3 billion for this year. (Hong Kong Economic Times A11)

Longfor Properties Co. Ltd. (960 HK) intends to issue USD-denominated senior notes for the purpose of capital expenses on the company’s existing and new property projects and for general corporate purposes. (Sing Tao Daily B3)

Next Media Limited (828 hk) issues the profit warning that the company is expected to record a loss for 2010 mainly due to the increase of operating expenses and development cost of the company’s TV Division. (Sing Tao Daily B3)

Sinopharm Group (1099 HK) expects the company’s capital expenditure this year will amount to RMB2.7 billion for the purpose of mergers and acquisitions. (Sing Tao Daily B3)

Techtronic Industries Co. Ltd (669 HK) announced that the company’s turnovers for 2010 recorded an increase of 10 percent to HK$26.4 billion, with net profit up 50 percent. The company recommended a final dividend of HK6.25 cents, making a total payment of HK10 cents per share for 2010. The company plans to further expand businesses in emerging market to improve its gross profit margin. (Hong Kong Economic Journal P4)

Xiamen International Port Co., Ltd (3378 HK) announced its profit attributable to the owners for 2010 increased by 59 percent year-on-year to RMB325 million. A basic earnings per share was RMB12 cents. The company proposed a final dividend of RMB9 cents per share. (Sing Tao Daily B3)

In 2010, CCB (939 HK) recorded profit before tax of RMB175,156 million, up 26.26% over 2009. Net profit was RMB135,031 million, up 26.39% over 2009. It recommended a cash dividend of RMB0.2122 per share (including tax). (Hong Kong Economic Journal P2)

China Pacific Insurance (2601 HK) booked net profit attributable to equity holders of RMB 8.557 billion in 2010, a YOY increase of 16.3%. Its share of China’s insurance market was 9.9% and solvency margin ratio reached 357%. The company recommended a final dividend of RMB 0.35 per share (including tax). (Hong Kong Economic Journal P5)

China Petroleum & Chemical (386 HK) reported profit attributable to equity shareholders of RMB 71.8 billion, representing an increase of 13.7% over 2009. In 2010, its turnover was RMB1,913.2 billion, representing an increase of 42.2%. (Hong Kong Economic Journal P5)

CITIC Resources Holdings (1205 HK) announces that its profit attributable to shareholders increased by 8.5 times to HK$1,101.7 million. It did not recommend the payment of any final dividend in respect of the year. (SingTao Daily B15)

Xinjiang Goldwind Science & Technology (2208 HK) announces that its profit attributable to owners amounted to RMB 2,289.52 million, representing an increase of 31.16% compared to last year. Basic earnings per share was RMB 0.99. It proposed to pay a final dividend of RMB0.34 per share. (Hong Kong Economic Times A13)

Yanzhou Coal Mining Company (1171 HK) posted net income attributable to the equity holders of RMB9,281.4 million, representing an increase of 125.4%. The company proposed to declare a cash dividend of RMB0.59 per share. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard