Air China Limited (753 HK) announced the company’s net profit for 2010 amounted to around HK$12 billion, an increase of 147 percent over the same period of the previous financial year. The earnings per share was HK103 cents, with a final dividend of HK$0.1182 per share proposed. (Hong Kong Economic Journal P9)
Agricultural Bank of China recorded a net profit of RMB94.91 billion, an increase of 46.0% compared to 2009, better than expectations. The final dividend of RMB0.054 per share was proposed. (SingTao B2)
Zoomlion (1157 HK) anticipates that the company’s capital expenditure for 2011 will amount to RMB5 billion, which will be used for the development of component parts and overseas businesses, and operating funds and scientific research. (Hong Kong Economic Journal P9)
China Everbright Limited (165 HK) recorded a net profit of HK$1.93 billion for 2010, or a decrease of 59 percent year-on-year. The company will continue to search for merger and acquisition targets this year and it will further enhance its efforts in the investment funds on real estate. (Hong Kong Economic Times A12)
China Cosco Holdings Company (1919 HK) announced that the company’s profit attributable to the equity holders for 2010 amounted to RMB6, 858 million. The company proposed a final dividend of RMB0.09 per share. This outstanding performance is mainly due to the improvement of container transport operations of the company. (Hong Kong Economic Times A12)
China Yurun Food Group (1068 HK) notes that clenbuterol cases do no harm to the company’s contracts. According to the government resampling results, no clenbuterol was found among Yurun food products. (Hong Kong Economic Times A12)
China Unicom (Hong Kong) (762 HK) booked profit for the year of RMB3.85 billion, down by 59.7% compared with last year. Revenue reached RMB171.30 billion, up by 11.3%. It proposed to pay a final dividend of RMB0.08 per share. (SingTao B1)
Cinda International Holdings (111 HK) proposes to raise around HK$117.6 million by way of a rights issue at a price of HK$1.10 per rights share on the basis of 1 rights share for every 5 existing shares held. (SingTao B4)
Fosun International (656 HK) notes that the company’s capital expenditure for 2011 will stay less than RMB5 billlion, which will be mainly used for the development of steel, mining and medicine businesses. The company casts good outlook on the real estate market in the middle term and reserves extra RMB5 billion to RMB6 billion for land purchase. (Hong Kong Economic Times A12)
PCCW Limited (8 HK) announces that it prefers to list in Hong Kong and proposals have been submitted; its current intention would only involve the disposal of a minority stake in the units in such listed business trust. If the listing plan approved, it would intend to retain a controlling stake in the telecommunications business on a long-term basis, by retaining a majority of the listed units in the business trust and control of the trustee-manager of the business trust. (SingTao B1)
Ping An Insurance Company (2318 HK) announced that the company’s net profit increased by 24.69 percent to RMB17, 311 million for 2010, in line with the market expectations. A final dividend of RMB0.4 per share was proposed. (Hong Kong Economic Journal P8)
Silver Grant International (171 HK) announces a placing of 120,000,000 placing shares at HK$3 per share. (SingTao B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
