Hong Kong Stock Market Wrap April 28th, 2011

The board lot size of Anhui Conch Cement Company’s (914 HK) H shares for trading on the Stock Exchange will be changed from 2,000 H shares to 500 H shares with effect from Monday, 23 May. (SingTao Daily B4)

For the 3 months ended 31 Mar, China Construction Bank (939 HK) made a net profit of RMB47,233 million, of which the net profit attributable to equity shareholders was RMB47,185 million, up by 34.23% and 34.19% respectively over the same period last year. Net interest income was RMB71,630 million, up by 25.27% over the same period last year. (Hong Kong Economic Journal P6)

Get Nice Holdings (64 HK) has appointed Hung Sui Kwan as an executive director and the chief executive officer; Lung Hon Lui and Chiang Chun Yi as executive directors; Li Sau Hung, Eddy as an independent non-executive director; Kam Leung Ming, in place of Hung, as company secretary. Wong Sheung Kwong and Cheng Wai Ho have resigned as executive directors. (Hong Kong Economic Journal P8)

Haier Electronics Group (1169 HK) will acquire about 51% controlling interest of Hefei Goodaymart from Henan Goodaymart at the consideration of RMB5 million. (Hong Kong Economic Times A12)

HSBC Holdings (5 HK) has declared a 4th interim dividend for 2010 of US$0.12 per ordinary share. The dividend is payable on 5 May to overseas shareholders. (SingTao Daily B4)

Kingston Financial Group (1031 HK) will place up to 330,000,000 shares to SBI at a price of HK$1.03 each. The maximum gross proceeds will be roughly HK$340 million. (Hong Kong Economic Journal P10)

Phoenix Satellite Television (2008 HK) has submitted a registration statement that includes a prospectus with a price range to the SEC in respect of the proposed spin-off. (SingTao Daily B4)

Qin Jia Yuan Media Services (2366 HK) announces placing of 84,100,000 shares at a price of HK$1.35 apiece to fetch net proceeds of around HK$108.5 million. (Hong Kong Economic Journal P12)

SITC International Holdings (1308 HK) has entered into shipbuilding contracts to buy 2 container vessels for an aggregate consideration of approximately HK$282.4 million. (SingTao Daily B4)

Suncorp Technologies (1063 HK) plans to place a maximum of 533,157,785 shares at a price of HK$0.055 a share. (SingTao Daily B4)

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

Hong Kong Stock Market Wrap April 27th, 2011

For the 3 months ended 31 Mar, the Agricultural Bank of China (1288 HK) achieved a net profit of RMB34,073 million, surging 36.41% over the same period of 2010. Loan-to-deposit ratio was 55.71%, dipping 0.06 percentage point compared to the end of 2010. (Hong Kong Economic Times A10)

China Metal Recycling’s (773 HK) chairman Chun Chi Wai has placed up to an aggregate of 60,000,000 shares through Wellrun Limited. (SingTao Daily B1)

China Shipping Container Lines Company (2866 HK) booked net profit attributable to equity holders of -146,148,266.97, up 24.17pc yoy. (SingTao Daily B4)

New Media Group (708 HK) plans to issue Taiwan Depositary Receipts. The proposed TDR listing will involve an issuance of new shares of nominal value of HK$0.01 each. (SingTao Daily B4)
For the 3 months ended Mar 31, Ping An Insurance (Group) Company of China (2318 HK) realized a net profit attributable to owners of the parent of RMB5,814 million, a growth of 27.8% as compared with the same period of last year. Basic earnings per share amounted to RMB0.76. (SingTao Daily B4)

SBI (6488 HK) announces that its consolidated performance for the fiscal year ended 31 March 2011 resulted in net income of ¥4,534 million, a 93% year-on-year increase. Final dividend of ¥120 per share declared. (SingTao Daily B4)

Shandong Molong Petroleum Machinery Company (568 HK) reported net profit attributable to shareholders of 22,120,961.62, down 33.07pc. (SingTao Daily B4)
Shandong Weigao Group Medical Polymer (1066 HK) has agreed to place an aggregate 85,624,000 new H shares at HK$20.6 apiece. (SingTao Daily B1)

Sino-Ocean Land (3377 HK) proposes to conduct an international offering of perpetual subordinated capital securities and will commence a series of roadshow presentations beginning on or around 27 Apr in Asia, Europe and the US, expecting that the securities to be deemed as hybrid securities. (Hong Kong Economic Journal P14)

Yuzhou Properties (1628 HK) Company has agreed to place 72,000,000 warrants at an exercise price of HK$2.82 per warrant share to not less than six placees, including J.P. Morgan. The warrants are to be placed at HK$0.01 each. (Hong Kong Economic Journal P14)

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

Hong Kong Stock Market Wrap April 26th, 2011

China Gas Holdings (384 HK) announces that resolutions at a SGM held yesterday were duly passed to remove Li Xiao Yun, Xu Ying and Liu Ming Hui from the office as directors with effect upon the passing of the resolutions. (Hong Kong Economic Journal P6)

China Liansu Group (2128 HK) proposes to conduct an international offering of guaranteed senior Notes. The principal amount, the interest rate, the payment date and certain other terms and conditions of the proposed notes issue are yet to be finalized. (SingTao Daily B2)

China Rongsheng Heavy Industries (1101 HK) announces that Jiangsu Rongsheng Heavy Industries, an around 96.09% owned subsidiary, has submitted a bid to acquire 100% of the equity interest of Quanchai Group and the bid, with a bid price of RMB2,148,870,000, has been successful. (Hong Kong Economic Journal P5)

Under local Indonesian regulations, HSBC (5 HK) is required to reduce its shareholding in PT Bank Ekonomi Raharja Tbk (Bank Ekonomi) to 88.89% by August 2011 from its current 98.96% shareholding. The bank aims to achieve this through the sale of shares on the Indonesian stock exchange over the course of the coming months. (Hong Kong Economic Times A12)

Fosun International (656 HK) proposes to conduct an international offering of guaranteed senior notes. Further announcements in respect of the proposed notes issue will be made should a purchase agreement in respect of the notes be signed. (SingTao Daily B2)

King Stone Energy (663 HK) has entered into a strategic cooperation agreement with CITIC Trust to form a strategic alliance for the joint development and investment in the areas of coal resources, environmentally-clean production and integrated utilization of coal, clean energy, energy saving emission reduction. (SingTao Daily B2)

Little Sheep Group (968 HK) announces that it has received an approach from a substantial shareholder, Yum! Brands, Inc. regarding a possible pre-conditional cash offer to acquire its outstanding share capital. Trading in its shares continues to be suspended. (Hong Kong Economic Journal P10)

Minmetals Resources (1208 HK) has received a conversion notice from Album Enterprises to exercise the conversion right attached to the PSCS of a principal amount of US$690,000,000 at HK$3.45 per conversion share. (Hong Kong Economic Journal P6)

Perception Digital Holdings (8248 HK) has submitted an application to the Stock Exchange for the transfer of listing of all shares from the GEM to the Main Board of the Stock Exchange. It believes that the transfer of listing will enhance the profile of the company and increase the trading liquidity of the shares. (Hong Kong Economic Journal P8)

Tracker Fund of Hong Kong (2800 HK) announces that the dividend per unit is HK$0.13. The ex. dividend date is 28 April and the distribution payable date is 1 June. (SingTao Daily B2)

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

Hong Kong Stock Market Wrap April 21th, 2011

China Everbright (165 HK) has agreed to sell 51% of the issued share capital of the Everbright Securities (International) to Everbright Securities Financial Holdings at a consideration of HK$891 million. It estimates that the expected gain arising from the disposal is roughly HK$675 million. (Hong Kong Economic Times A11)

China Life Insurance Company (2628 HK) booked net profit attributable to shareholders of 7,971 million yuan for the three months ended 31 March 2011, down 22.0 yoy. Premiums earned reached 122,024 million yuan, with a growth rate of 10.9%. (Hong Kong Economic Times A10)

China ZhengTong Auto (1728 HK) Services has agreed to acquire the entire issued and paid-up share capital of La Sa Hong Jin Auto Trading Company from La Sa Shen Lan Auto Trading Company and Xi Zang Ding Feng Assets Company. The consideration payable is RMB167.2 million. (Hong Kong Economic Journal P6)

Phoenix Satellite Television (2208 HK) proposes a spin-off and separate listing of Phoenix New Media on the New York Stock Exchange. It is intended that assure entitlement to a certain number of distribution ADSs will be provided to qualifying shareholders by way of distribution-in-specie. (SingTao Daily B2)

Sinopharm Group (1099 HK) will place 138,056,825 H shares at a price of HK$25 apiece. The maximum amount of net proceeds will be about HK$3,389.30 million. CICC, UBS and Morgan Stanley are the placing agents. (Hong Kong Economic Times A10)

United Company RUSAL (486 HK) announces that, during April 2011, it made further prepayments to its international lenders, Russian lenders and Onexim Holdings Limited, in the total amount of around US$517 million with an additional US$12 million to be prepaid before the end of this month on a pro rata basis. (Hong Kong Economic Journal P6)

China Green (Holdings) (904 HK) is considering a proposal to restructure and spin-off its business in the manufacturing, distribution and sale of branded beverage products. The spin-off proposal, which is still at its preliminary stage of consideration, may or may not materialize. (SingTao Daily B4)

China Tian Lun Gas (1600 HK) has agreed to an acquisition of 51% equity interests in Jilin Zhongji Dadi Gas Group at a total consideration of RMB153,000,000. (SingTao Daily B18)

Jiangchen International Holdings (8305 HK) announces that an approval-in-principle for a transfer of listing has been granted by the Stock Exchange. Dealing in its shares on the Main Board (under stock code: 01069) will commence on 16 May 2011. (SingTao Daily B4)

Weichai Power (2338 HK) posted net profit attributable to shareholders of RMB 1,849,454,381.11, surging 14.22% yoy. Weighted average return on net assets dropped to 9.52%. (Hong Kong Economic Times A8)

Zhuzhou CSR Times Electric (3898 HK) saw revenue for the 3 months ended 31 March 2011 increase by 93.3% to RMB1,994.6 million. Profit attributable to owners rose to RMB472.4 million, a jump of 211.0%. (Hong Kong Economic Journal P4)

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

Hong Kong Stock Market Wrap April 20th, 2011

AEON (900 HK) announced the results for the year ended 20th February 2011 that the company’s profit attributable to the shareholders dropped 2.78 percent year-on-year to HK$252 million, a drop for two consecutive years. A final dividend of HK16 cents per share was proposed. (Sing Tao Daily B3)

China Automotive Interior Decoration (8321 HK) expects to record a loss for the three months ended 31 March 2011 against a profit recorded for the comparative quarter for the three months ended 31 March 2010. (Hong Kong Economic Journal P15)

China Mobile (941 HK) announced that the net profit of the company for the first quarter of 2011 experienced a year-on-year increase of 5.4 percent to RMB26.86 billion, which is in line with expectations. (Sing Tao Daily B3)

China Petroleum & Chemical (386 HK) announces that Su Shulin has tendered his resignation as chairman and a non-executive director with immediate effect, and Fu Chengyu has been proposed to be appointed as a non-executive director. (Hong Kong Economic Journal P8)

City Telecom (H.K.) (1137 HK) announced that the net profit of the company for the six months ended 28 February 2011 increased by 44 percent to HK$167.6 million with basic earnings per share amounted to HK21.9 cents. The company declared an interim dividend of HK15 cents per ordinary share. (Sing Tao Daily B3)

Comtec Solar Systems Group (712 HK) booked unaudited consolidated profit attributable to equity shareholders of around RMB83,512,000. (Hong Kong Economic Times A10)

Essex Bio-Technology Limited (8151 HK) has applied to the Stock Exchange of Hong Kong Limited for the transfer of the listing all its issued shares from the Growth Enterprise Market of the Stock Exchange to the Main Board of the Stock Exchange. (Sing Tao Daily B3)

Get Nice’s (64 HK) substantial shareholder Hung Hon Man has sold an aggregate of 250,000,000 shares to D. E. SHAW VALENCE at a price of HK$0.53 each. (Hong Kong Economic Journal P15)

Guangzhou R&F Properties (2777 HK) have entered the issuance of Renminbi senior notes due 2014 and US dollar senior notes due 2016 with interest rates of 7 percent and 10.875 percent respectively. The company has entered into the purchase agreement with Credit Suisse, Goldman Sachs, Citi and Morgan Stanley in connection with the notes issue. (Sing Tao Daily B3)

Huaneng Power International (902 HK) plans to implement electricity price rises for its power plants in six regions in China. This move is expected to contribute to Huaneng’s earnings over the next quarters in 2011. (Sing Tao Daily B4)

Jingwei Textile Machinery Company (350 HK) announced that the company’s profit attributable to the shareholders in the first quarter of 2011 amounted to RMB138 million, or up 10.74x year-on-year. (Sing Tao Daily B3)

Lianhua Supermarket (980 HK) proposes a bonus issue on the basis of 8 bonus shares to be issued for every 10 shares. (Hong Kong Economic Journal P15)

Shui On Land (272 HK) announces that King Concord has entered into a facility agreement in relation to a three-year term loan facility of up to HK$1,550,000,000 with banks including Standard Chartered Bank and Bank of China Limited, Macau Branch. (Hong Kong Economic Journal P17)

The Wharf (Holdings) Limited (4 HK) has entered into a HK$4 billion syndicated loan agreement for general operating purpose. (Sing Tao Daily B3)

West China Cement (2233 HK) has agreed to make capital contribution of RMB150,000,000 in He Tian Lu Xin Building Materials Company. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap April 19th, 2011

China Overseas Grand Oceans’ (81 HK) turnover was HK$621 million for the three months ended 31 March 2011 while the operating profit was HK$204 million. (Hong Kong Economic Journal P10)

China Overseas Land & Investment’s (688 HK) unaudited turnover was HK$10.16 billion while its operation profit was HK$3.78 billion. (Hong Kong Economic Journal P10)

China Star Entertainment (326 HK) resumed trading yesterday. The company proposes rights issue on the basis of three rights shares for every one adjusted share. Bonus warrants will be issued on the basis of one bonus warrant for every five rights shares. The company says it proposes to raise up to at least HK$368 million by the way of rights shares issue at HK$0.25 apiece. (Sing Tao Daily B2)

China Unicom (Hong Kong)’s (762 HK) aggregate number of 3G service subscribers reached 18.535 million. Its aggregate number of 2G service subscribers also hit 156.003 million. (Hong Kong Economic Times A12)

Comtec Solar Systems Group (712 HK) has agreed to issue unsecured convertible bonds due 2016, in the aggregate principal amount of RMB654,500,000 and 95,121,951 fully detachable and transferable warrants each to purchase 1 ordinary share. (Hong Kong Economic Times A12)

Fantasia Holdings Group (1777 HK) announced that an application to TDR Issue in Taiwan has been approved by the Taiwan Securities and Futures Bureau. (Sing Tao Daily B2)

Huaneng Power International (902 HK) announced that the company experienced a profit loss of 76 percent, down to RMB226 million for the first quarter of 2011, with basic earnings per share of RMB0.02. (Sing Tao Daily B4)

Orient Overseas (International) (316 HK) announced that, for the first quarter of 2011, the company’s total volumes increased by 12.6 percent from the same period last year. The total revenues went up 17 percent to US$1.33 billion (around HK$10.37 billion). (Sing Tao Daily B2)

Soho China (410 HK) has successfully acquired a land project in Shanghai at a consideration of RMB2.47 billion. The land is situated at Subway Line 10 Hailun Road Station in Shanghai. (Sing Tao Daily B2)

Solartech International (1166 HK) plans to implement the capital reorganization including a consolidation of every twenty issued shares into one consolidated share and a reduction in the nominal value of the issued consolidated shares to HK$0.01 each. (Sing Tao Daily B2)

SPG Land (Holdings) (337 HK) has agreed to acquire a 63.75% shareholding in City Expert at a consideration of RMB 350 million. After the deal, the group will hold an indirect 51% interest in Chengbo (Ningbo) Real Estate Company. (Hong Kong Economic Journal P10)

Sun Hung Kai & Co. Ltd (86 HK) announced that its consumer finance subsidiary, United Asia Finance Limited, has issued RMB500 million bonds with a three-year maturity period and an interest rate of 4 percent. The proceeds will be used for business expansion in Mainland China and general operating purpose. (Sing Tao Daily B2)

Xinjiang Goldwind Science & Technology (2208 HK) announces its unaudited results for the three months ended 31 March 2011, which have been prepared in accordance with the PRC GAAP. Its net profit attributable to shareholders amounted to 206,185,864.93. (Hong Kong Economic Times A12)

Zhongyu Gas (8070 HK) has completed 394 million shares placement and restored its public float to approximately 29 percent, fulfilling the minimum public float requirement under the GEM Listing Rules. (Sing Tao Daily B2)

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

Hong Kong Stock Market Wrap April 18th, 2011

AIA Group (1299 HK) saw its value of new business go up 21% to US$182 million. Annualised new premium sales went up 17% to US$512 million. (Hong Kong Economic Times A10)

Ajisen (China)’s (538 HK) shareholder Poon Wai has agreed to place 63,551,900 shares at a price of HK$15.30 each. (Hong Kong Economic Times A4)

Anhui Conch Cement (914 HK) announced that the company’s net profit for the first quarter in 2011 surged nearly 1.8x to RMB2.216 billion with basic earnings per share of RMB0.63. (Sing Tao Daily B2)

Bingo Group (8220 HK) has entered into establishment of a joint venture with CineChina and Bingo Group plans to launch a number of 548.9 milllion share placement. (Sing Tao Daily B4)

China State Construction International Holdings Limited (3311 HK) announced that the company’s unaudited operating profit increased by around 32 percent year-on-year to HK$353 million for the quarter ended March this year. (Sing Tao Daily B2)

Chu Kong Petroleum (1938 HK) and Natural Gas Steel Pipe has successfully won two bids for supplying LSAW steel pipes with contract value of RMB923.6 million. (Sing Tao Daily B2)

CVM Minerals Limited (705 HK) has entered into memorandum of understanding with PKNP in relation to the establishment of a joint venture in Malaysia for the purpose of exploration and mining of rare earths. (Sing Tao Daily B2)

GZI Transport Limited (1052 HK) announced that the toll revenue for Guangzhou Northern Second Ring Expressway amounted to RMB60.78 million in March, or up 4.4 percent year-on-year. The average daily traffic volume increased to 100,000 vehicles in March. (Sing Tao Daily B2)

Mingfa Group (International) Company (846 HK) proposes to issue convertible bonds due 2016 with an aggregate principal amount of HK$1,560,000,000, bearing interest at a rate of 5.25 per annum payable semi-annually in arrear. The initial conversion price is HK$3.168 per share. HSBC and Morgan Stanley are the joint lead managers. (Hong Kong Economic Journal P4)

Minmetals Resources Ltd (1208 HK) has launched an HK$6.72 billion share placement yesterday. The shares would be priced between HK$5.2 and HK$5.6 each. The shares were suspended from trading yesterday ahead of the placement. (Sing Tao Daily B2)

Pacific Basin Shipping (2343 HK) announces that its handysize and handymax freight rates have increased 28% and 30% since early February on healthy South American grain exports and ongoing strong growth in minor bulk trades, thereby recovering the January losses. As at 15 April, the handysize and handymax rates had recovered to US$11,300 and US$14,000 per day net – approximately where they stood at the start of the year. (Hong Kong Economic Times A12)

Semiconductor Manufacturing International (981 HK) has agreed to allot and issue to China Investment Corporation 360,589,053 convertible preferred shares at HK$5.39 apiece and it will also issue 72,117,810 warrants to subscribe, in aggregate, up to 72,117,810 warrant preferred shares at an exercise price of HK$5.39 per warrant. The aggregate consideration for the securities is US$250 million. (Hong Kong Economic Times A12)

SIM Technology Group (2000 HK) announces an issue of 137,500,000 units of TDR, representing in aggregate 275,000,000 shares, of which 137,500,000 new shares will be allotted and issued by SIM Technology Group, and 137,500,000 shares will be transferred by its shareholder Info Dynasty. (Hong Kong Economic Times A12)

TPV Technology (903 HK) has entered into formation of a joint venture with Philips. TPV Technology will acquire 70 percent shares of the JV Company and own businesses of Philips TV manufacturing in some countries in Europe and South America. Philips also grants TPV Technology for an exclusive use of trademark license for the JV Company. (Sing Tao Daily B4)

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

Hong Kong Stock Market Wrap April 15th, 2011

IPO: Great Group (China) plans to kick off its public offering with an offer price between HK$1.92 and HK$2.78. The IPO entry fee is around HK$5560. (Sing Tao Daily B3)

Arnhold (102 HK) was notified by the offeror that it has distributed 192 million shares held by it to its ultimate beneficial owners to restore the minimum public float. (Sing Tao Daily B4)

Automated Systems Holdings (771 HK) notes that the company’s technological and international experience will become the major characteristic for its business exploration in Mainland China. The company’s i-Sprint has won contracts with a number of Mainland banks that listed in Hong Kong. (Hong Kong Economic Journal P4)

Chiho-Tiande Group (976 HK) plans to place 60 million shares at the placing price of HK$6.6 per share. (Sing Tao Daily B4)

China Lumena New Materials (67 HK) plans to launch new products for the company’s Glauber's salt and new materials businesses this year. These two sectors are expected to see a gross profit margin of over 60 percent respectively. (Hong Kong Economic Times A10)

Mastermind Capital Limited (905 HK) announced that certain individuals have subscribed for 144 million shares of the company with an exercise price of HK$0.27 per share. (Sing Tao Daily B4)

Mingfa Group (846 HK) acquired three pieces of land in Huizhou. The total area was 150,000 square meters. (Sing Tao Daily B4)

New Times Energy Corporation (166 HK) has entered into the Escrow Agreement on 25 March 2011 in relation to the termination of acquisition of gold business of Hongwen Gold. The Vendor shall deposit the repayment amount of HK$600 million with the accrued interest, into the designated bank account of the Escrow Agent within 60 days upon entering into of the agreement. (Sing Tao Daily B4)

Brilliance China Automotive’s (1114 HK) wholly-owned subsidiary SXID has agreed to purchase from Dalian Huaxia 9.9% of the equity interest in Shenyang Automotive for a consideration of RMB300,000,000. Shenyang Automotive, after the deal, will be directly and indirectly owned as to 60.9% by Brilliance China Automotive. (SingTao Daily B4)

Guoco Group’s (53 HK) subsidiary GuocoLand Limited has successfully completed the acquisition of a loan of RMB2 billion with interest from Agricultural Bank of China (1288), with all rights attaching thereto including enforcement rights against the borrower and guarantors.
(Hong Kong Economic Times A8)

Hung Hing Printing Group (450 HK) announces that an agreement has been entered into between Asia Packaging and Rengo Co., a paper and packaging materials manufacturer listed on the Tokyo Stock Exchange (Stock Code: 3941). Asia Packaging has agreed to sell 271,452,000 shares held by it to Rengo, roughly 29.9% in the issued share capital of Hung Hing Printing Group, for a total consideration of HK$1,425,123,000 in cash. (Hong Kong Economic Journal P2)

Shougang Concord Grand (Group) (730 HK) has entered into a preliminary agreement to sell its entire ownership interests in Unit no. 2907 on the 29th Floor of West Tower, Shun Tak Centre, Nos. 168 - 200 Connaught Road Central at a cash consideration of HK$44,800,000. (SingTao Daily B3)

The Stock Exchange has confirmed that Tian An China Investments (28 HK) may proceed with its proposed spin-off. Allied Cement has submitted a listing application form (Form A1) to apply for the listing of, and permission to deal in, shares on the main board. (Hong Kong Economic Times A8)

Zhongsheng Group (881 HK) Holdings plans to issue RMB1,250,000,000 4.75% senior notes due 2014. It intends to use the net proceeds mainly for the expansion of its distribution network of 4S dealerships. Approval in-principle has been received for the listing of the notes on the SGX-ST. (SingTao Daily B4)

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

Hong Kong Stock Market Wrap April 14th, 2011

Angang Steel Company (347 HK) announced that the company will see a decrease of 93.82 percent to RMB71 million year-on-year in profit in Q1 2011. Such a loss is primarily due to the significant increase in the prices of raw materials and fuels. (Hong Kong Economic Times A12)

China Automation Group (569 HK) plans to issue US$200 million senior notes at a rate of 7.75 pct per annum, which will mature on 20 April 2016. (Hong Kong Economic Times A12)

IPO: China Auto System Technologies launches its IPO today aiming to raise proceeds of HK$540 million-HK$714 million with HK$1.8-HK$2.38 per share. (Hong Kong Economic Journal P6)

China Shipping Container Lines Company (2866 HK) notes that the company has realized freight rate increases in America West and U.S. East lines in April 2011. The line to Europe is advised to raise US$100 per TEU on freight rates. (Hong Kong Economic Times A12)

CSR Corporation (1766 HK) intends to expand its business by building high-speed railways overseas, such as participating in the bidding for high-speed railway projects in the U.S., and exporting Multiple Unit (MU) products. (Hong Kong Economic Times A12)

Global Dairy Holdings (1007 HK) announces that it has determined that the current interest rate and tenure for debt issues are unattractive. There are a number of competing note issues in the market. Since it has sufficient working capital and no immediate need to raise the funding, it has decided to postpone the proposed notes issue. (SingTao Daily B3)

Glorious Property Holdings (845 HK) announces that it has agreed to acquire interest in 2 sites located at Eight MileVillage, Jin Zhou District, Dalian City. (SingTao Daily B3)

HSBC (5 HK) announced yesterday that it is set to list its Greater China ETF series in HK on Monday next week, the 4 ETFs tracking MSCI equity indices in China, Taiwan and HK. (SingTao Daily B3)

Lifestyle International (1212 HK) has entered into a MOU with Shanghai Lujiazui Finance & Trade Zone Development Co. in relation to a proposed formation of a JV for acquiring properties for operation of department stores and/or commercial centres. (SingTao Daily B3)

PetroChina Company (857 HK) clarifies that it has been notified by its non-executive director Wang Yilin of his resignation as director due to his recent appointment as chairman of China National Offshore Oil Corporation. (SingTao Daily B3)

Skyworth Digital (751 HK) recorded a sales volume of LCD TV sets of 395,000 in March 2011, or up 36 percent year-on-year. (Hong Kong Economic Times A12)

Thunder Sky Battery (729 HK) announces that a resolution to remove Chung Winston as a director was duly passed. (SingTao Daily B3)

Zhongsheng Group (881 HK) plans to issue three-year, RMB2 billion bonds in Hong Kong. The final yields will be adjusted depending on the demand. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap April 13th, 2011

Alco Holdings (0328 HK) has entered into a provisional agreement for a disposal of a building on No.9 Lok Yip Road, Fanling at a consideration of HK$206,000,000. The gain expected to accrue to the group after the disposal is HK$85,000,000. (SingTao Daily B4)

Asia Cement (China) (743 HK) is expected to record over 250 percent increase year-on-year of its net profit for the first quarter ended 31 March 2011. (Hong Kong Economic Times A14)

Bingo Group (8220 HK) has entered into the MOU with CineChina in respect of formation of the joint venture for investment in and management of high-end digital cinemas in China. The joint venture will own not less than 36 cinemas within 3 years after its formation. (Hong Kong Economic Journal P9)

China National Materials (1893 HK) has entered into 7 engineering, procurement and construction contracts covering projects including the engineering, procurement and construction of production lines in places such as Nigeria. The aggregated consideration of the projects is US$1,426,228,358. (SingTao Daily B4)

China Power International Development (2380 HK) proposes to issue RMB denominated RMB 982 million USD settled 2.25% convertible bonds due 2016. (SingTao Daily B4)

CITIC Pacific (267 HK) has applied for the listing of and permission to deal in U.S.$750,000,000 perpetual subordinated capital securities and U.S.$500,000,000 6.625% notes due 2021. (SingTao Daily B4)

Far East Global Group (830 HK) notes that the company’s business in North America will become the focus of development in the future. The company intends to make one-two acquisition offers of the local medium-sized construction and renovations companies, at an expected amount of US$20 million-US$30 million for the acquisition of each company. (Hong Kong Economic Journal P9)

Hisense Kelon Electrical Holdings Company (921 HK) expects that the company’s net profit in the first quarter 2011 will amount to RMB90.6 million-RMB113 million, representing a growth of 100 percent –150 percent compared to the same period last year. (Hong Kong Economic Times A14)

Glorious Property Holdings (845 HK) posted contracted sales of 1.102b yuan in March, surging 229pc yoy. (SingTao Daily B4)

Greentown China (3900 HK) booked contracted sales of 1.3b yuan in March, diving 75pc yoy. (SingTao Daily B4)

Little Sheep Group (968 HK) has entered into the Capital Increase Agreement with the investors. Investors and Little Sheep PRC will own 70 percent and 30 percent respectively of equity interests in Little Sheep Meat, a wholly owned subsidiary of the group. This move will not pose a hindrance to raw materials supply for the group. (Hong Kong Economic Times A12)

Ping An of China Asset Management (Hong Kong) (2318 HK) is set to launch its first offshore yuan-denominated bond fund today. The company is expected to raise RMB300 million-RMB500 million for its IPO and has confidence to grow the size gradually. (Hong Kong Economic Times A14)

Sino-Ocean Land (3377 HK) announced business statistics in March 2011. The sales result in March experienced a tremendous drop of 46 percent on a monthly basis to RMB1.1 billion. The sales in the first quarter in 2011achieved no more than 20 percent of the company’s whole-year sales target. (Hong Kong Economic Journal P11)

Springland International (1700 HK) has entered into a framework agreement pursuant to which it agreed to purchase a property in Xuancheng City for an aggregate cash consideration of RMB461.62 million. The expected gross floor area of the property is about 53,000 square meters. The company plans to open a new department store and supermarket in the property. (SingTao Daily B4)

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

Hong Kong Stock Market Wrap April 12th, 2011

Central China Real Estate (832 HK) has successfully acquired the land use rights of 2 parcels of land in Xiuwu County, Henan. The purchase price for the acquisition is about RMB59 million. The land parcels shall be used for residential purpose. (SingTao Daily B4)

China Life Insurance (2628 HK) recorded an accumulated premium income for the first quarter this year of around RMB123 billion, or up 11.5 percent against the same period last year. (Hong Kong Economic Times A12)

China Unicom (762 HK) launched new monthly subscription plans for iPhone 4 yesterday. The lowest monthly fee went down to 66 yuan from 96 yuan. (SingTao Daily B4)

361 Degrees International (1361 HK) recorded an increase of 14.7 percent in the same store sales for the first quarter of 2011 and an improvement in the 85 percent retail sales compared to the same period last year. (Hong Kong Economic Times A12)

Evergrande Real Estate Group (3333 HK) realized an increase of 1.36x in its contract sales to RMB19.8 billion in Q1 2011 and a total sales area of 2.86 million square meters in Q1 2011, or up 1.2x compared to the same period last year. (Hong Kong Economic Times A12)

Geely Automobile (175 HK) announces that the company’s total sales volume in the first quarter of 2011 was nearly 117,700 units, or up 14.4 percent from the same period last year. (Hong Kong Economic Times A12)

HSBC Holdings (5 HK) announces that Grupo Financiero HSBC, S.A. de C.V. has signed an agreement to sell HSBC Afore, S.A. de C.V., its pension funds management business, to Principal Financial Group, S.A. de C.V. for a cash consideration of Mexican Pesos 2,360m. The transaction, which is subject to regulatory approvals, is expected to be completed in Q3. (SingTao Daily B4)

IRC Limited (1029 HK) announced that the company saw a 52 percent increase of production at Kuranakh in the first quarter this year compared to the fourth quarter last year. IRC sets the targets of 800,000–830,000 tonnes of iron ore concentrate and 65,000–70,000 tonnes of ilmenite concentrate. Products are expected to see price rises within this year. (Hong Kong Economic Journal P11)

Minmetals Resources Limited (1208 HK) has made a takeover offer to acquire Equinox Minerals Limited. Three Chinese relationship banks will provide on aggregate not less than US$4.6 billion of corporate debt funding. (Hong Kong Economic Journal P11)

Polyard Petroleum International (8011 HK) proposes to raise, after a share consolidation, up to around HK$115m by way of rights issue of shares at HK$0.12 each on the basis of 1 rights share for every 1 consolidated share. (SingTao Daily B4)

Symphony Holdings (1223 HK) proposes to raise around HKD218 million by way of open offer of shares at the subscription price of HKD0.25 apiece on the basis of 1 offer shares for every 2 existing shares held. (SingTao Daily B4)

Tang Palace (China) (1181 HK) Holdings closed its retail book yesterday. Its IPO was over 500x oversubscribed. (SingTao Daily B4)

Xinyi Glass (868 HK) announces that the company’s first solar glass production line in Tianjin Industrial Park has come into pilot production yesterday. This line will be put into full operation by the middle of May carrying a daily melting capacity of 500 tonnes. (Hong Kong Economic Journal P11)

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

Hong Kong Stock Market Wrap April 11th, 2011

Anta Sports (2020 HK) notes that the company’s business performance in Q1 this year met with expectations. The company also recorded a great increase in the same store sales. The company will open new stores in Q2 according to plan. (Hong Kong Economic Journal P10)

Bank of Communications (3328 HK) plans to issue two Renminbi (RMB) funds through private placement and public offering respectively for investment in offshore RMB bonds, certificates of deposit and Yuan-denominated shares etc. (Hong Kong Economic Journal P8)

BBMG Corporation (2009 HK) notes that the company has lifted prices of cement products by 10 percent to 30 percent year-on-year. The cement business is expected to record improvement in gross profit margin this year. In terms of real estate business, the company plans to increase the business proportion of low-income housing projects. (Hong Kong Economic Times A14)

Cheung Kong (1 HK) and Hutchison Whampoa (0013) have successfully bid for the land located at the Zhaoxiang Town, Qingpu District, Shanghai, PRC. The land has a gross area of 74,000 square meters. (Hong Kong Economic Times A14)

China Communications Services (552 HK) plans to sell 100% equity interest in Zhejiang Nantian for a total consideration of RMB194.1115 million. The company expects to realize a gain of approximately RMB2.4393 million from the disposal. (SingTao Daily B4)

China South City (1668 HK) announces that Hui Chiu Chung, Stephen has been appointed as its independent non-executive director and a member of its audit committee with effect from 11 Apr. Hui is entitled to a remuneration of HK$300,000 per annum (SingTao Daily B4)

Eleven property subsidiaries of Fortune Real Estate Investment Trust (778 HK) has entered into a syndicated credit agreement with ANZ Bank Group, DBS Bank and Standard Chartered Bank (Hong Kong). The aggregate principal amount is around HK$3.8 billion. The agreement relates to a five-year, HK$2.83 billion term loan. (Hong Kong Economic Journal P15)

The cumulative amount of contract sales for Longfor Properties (960 HK) in Q1 this year amounted to RMB9.88 billion, or 1.2x up over the same period last year. (Hong Kong Economic Times A14)

New World China Land (917 HK) obtained a term loan facility in the principal amount of up to HK$200,000,000 on 11 Apr. The facility will be utilized to finance its general working capital requirement. (SingTao Daily B4)

Maoye International (848 HK) recorded an increase of total sales proceeds from concessionaire sales of 65.9%, of which the same-store sales proceeds increased by 30%, for the first quarter. As at 31 Mar, it had 39 stores in aggregate. The company expects that the number of its stores will be increased to around 50 in total by the end of 2012. (SingTao Daily B4)

Sound Global (967 HK) has won the bidding and signed an agreement for a wastewater treatment of Anyang National Hi-Tech Industrial Development Zone in Henan. The investment of the project is about RMB120 million and the tariff of operational service is RMB1.44 per ton. (SingTao Daily B4)

Soundwill Holdings (878 HK) has entered into the top-up subscription agreement for 9 million shares at a price of HK$12 per each share. (Hong Kong Economic Journal P8)

Vale (6210 HK) has agreed the terms of an offer to acquire the total share capital of Metorex Limited for the amount of around US$ 1,125 million. Metorex is a producer of copper and cobalt, with operations in the African copperbelt. (SingTao Daily B4)

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

Hong Kong Stock Market Wrap April 8th, 2011

BYD (1211 HK) proposed an offer of CNY denominated, fixed rate, senior, unsecured notes through BYD (HK), its wholly owned subsidiary. The net proceeds will be used for the expansion and development of BYD (HK) business and general financial purpose. (Hong Kong Economic Times A10)

According to Financial Times, PetroChina Company Limited is considering the acquisition of China Gas Holdings Limited (384 HK). China Gas clarifies that the company has not received any bid from PetroChina. (Hong Kong Economic Journal P5)

China Overseas Land & Investment Limited (688 HK) announced that the company has realized contract sales of HK$19.77 billion for the first quarter this year, or up 44 percent year-on-year. (Hong Kong Economic Times A10)

Stores of Intime Department Store (Group) Company (1833 HK) recorded total sales for the first quarter of this year up 38.4 percent. The same store sales went up 27.2 percent. (Hong Kong Economic Times A10)

Shangri-la Asia (69 HK) proposed to issue five-year convertible bonds of no more than US$600 million. The company also proposed an initial conversion price of HK$29.03 per share. (Sing Tao Daily B3)

Sun Hung Kai Properties (16 HK) has entered into a HK$16.7 billion five-year syndicated loans agreement with a consortium of 19 leading local and international financial institutions. (Hong Kong Economic Times A10)

Zhongda International (909 HK) will focus its attention on the development of new energy electric buses. The company expects that this new business will account for 20 percent of its annual revenue in 2011. (Sing Tao Daily B3)

CITIC Dameng (1091 HK) has agreed to make an initial capital contribution in the aggregate sum of RMB162.26 million to Guizhou Zunyi Hui Xing Ferroalloy. It is intended that, after the contribution, the registered share capital of the latter should be further increased to RMB 500 million. The parties propose to negotiate on the detailed terms in respect of the further capital increase. (Hong Kong Economic Times A16)

China Huiyuan Juice (1886 HK) proposes to issue US$150 million 4% CBs due 2016, with an option to subscribe and pay for option CBs up to a further aggregate principal amount of US$50,000,000. The initial conversion price is HK$6.812 per share. (Hong Kong Economic Times A16)

It is reported that Franshion Properties (China) (817 HK) will issue US$500,000,000 6.75% guaranteed senior notes due 2021. (SingTao Daily B3)

Hao Wen Holdings (8019 HK) reported that loss attributable to equity shareholders for the year ended 31 December 2010 was round RMB37,933,000. It did not recommend the payment of a final dividend. (Hong Kong Economic Journal P10)

Kaisa Group (1638 HK) booked contracted sales of 545 billion yuan in March, down 25 per cent yoy. (SingTao Daily B3)

Natural Dairy (NZ) (462 HK) has recently signed a preliminary heads of agreement with FuQing Municipal Government, Fujian Province to express interest to establish a food and beverage venture company and to manufacture beverage and rice-framagemented wine. The proposed total investment will be around US$57 million, with a paid up capital about US$19 million. (Hong Kong Economic Journal P10)

Sino Prosper State Gold Resources (766 HK) and the Aohan Banner Government have entered into a framework cooperative agreement in relation to, among other matters, exploration, consolidation and/or development of certain mineral resources in the Aohan Banner. (Hong Kong Economic Times A16)

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

Hong Kong Stock Market Wrap April 7th, 2011

Agile Property Holdings (3383 HK) proposes to issue US$500 million 4.0% CBs due 2016. The initial conversion price is HK$18.256 per share. (Hong Kong Economic Times A14)

Agritrade Resources (1131 HK) has entered into Memorandum of Understanding with TSI with regard to the coal upgrading strategic cooperation on GEO-COAL technology. (Sing Tao Daily B5)

Allied Properties (H.K.) (56 HK) proposes a bonus warrant issue on the basis of 1 warrant for every 5 existing shares held to raise around HK$2,781,246,634. (Hong Kong Economic Journal P10)

BYD Company (1211 HK) announced that the sales of the company plunged 41 percent year-on-year to 40,000 cars last months. This loss is mainly due to the increasingly competitive market and the cancellation of the special offer on car purchase in Mainland China. (Sing Tao Daily B5)

Cheuk Nang (Holdings) (131 HK) announces that Gigi Chao, the eldest daughter of Cecil Chao, was appointed as its executive director with effect from 7 Apr. (Hong Kong Economic Journal P12)

China Lumena New Materials (67 HK) proposes to issue U.S.$120,000,000 CBs to Stable Investment Corporation, a wholly owned subsidiary of China Investment Corporation and Citic Capital China Access Fund Limited. In addition, it has granted the subscribers an option to subscribe for additional CBs in an aggregate principal amount of up to U.S.$100,000,000. (Hong Kong Economic Times A14)

Golden Resorts Group (1031 HK) has placed up to 560 million new shares at a price of HK$0.95 per placing share. The proceeds from the placing amount to around HK$532 million.
(Sing Tao Daily B5)

Hong Kong Resources Holdings (2882 HK) announces that the total sales of its retail and franchising operations for gold and jewellery products was HK$813,493,000 during Q1, indicating an increase of 46% over the same period last year. In particular, sales in the HK and Macau markets were HK$75,405,000, up 6% yoy; and sales in the Mainland China market amounted to HK$738,088,000, an increase of 52% yoy. (Hong Kong Economic Journal P8)

Stores of Intime Department Store (Group) (1833 HK) Company recorded total sales of RMB3,041 million for the first three months, or up 38 percent year-on-year. (Sing Tao Daily B5)

Jingwei Textile Machinery (350 HK) issues positive profit alert that the company’s profit in Q1 this year increased by 9.5x-10.8x to RMB124 million-RMB139 million against the same period last year. (Sing Tao Daily B5)

Shifang Holding Limited (1831 HK) notes that the newspaper advertising prices will be lifted up to 10 percent this year. The company will enter into cooperation contracts with at least three newspaper companies this year.
(Sing Tao Daily B5)

Success Universe Group (487 HK) notes that the development plan of Ponte 16, the company’s flagship project, is waiting for the approval of the relevant authority in Macau. The plan is mainly used for the construction of shopping malls and casinos. The project will be completed by 2012-13. (Sing Tao Daily B6)

Sun.King Power Electronics Group (580 HK) announces that it is in preliminary discussion in relation to a possible acquisition, which if materialised, may constitute a discloseable transaction under the Listing Rules. (Hong Kong Economic Journal P10)

Tao Heung plans (573 HK) to open 9-11 stores in both Hong Kong and Mainland China, in which 4-5 stores will be located in Mainland China. The company will focus its business networks in major cities in Guangdong Province. (Sing Tao Daily B5)

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

Hong Kong Stock Market Wrap April 5th, 2011

Applied Development (519 HK) announces that Hung Kin Sang, Raymond has resigned as its managing director, executive director and member of remuneration committee with effect from 6 Apr. After it had considered its existing overseas projects in which Hung has substantial experience and involvement, Applied Development is negotiating with Hung is respect of the possibility of engaging his services in those projects. (Hong Kong Economic Journal P13)

China Everbright International (257 HK) will invest €8 million into photovoltaic power generation projects in Germany. (Sing Tao Daily B4)

China Longyuan Power (916 HK) will inject capital into eight wind power projects in Mainland China. As the No.1 wind power operator in China, China Longyuan Power will benefit from the rebuilding construction of Japan and China’s Twelfth Five-Year Plan. (Sing Tao Daily B11)

Citic Pacific (267 HK) plans to issue U.S. dollar-denominated perpetual bonds and 10-year senior unsecured notes this week to raise more than US$1 billion. The proceeds will be used for general corporate purposes and debt refinancing. (Sing Tao Daily B3)

Fantasia Holdings (1777 HK) booked contracted sales of 385 million in March, up 122pc yoy. Contracted sales amounted to 1.05 billion in Q1. (Hong Kong Economic Times A13)

The turnovers of First Tractor Company (38 HK) in Q1 this year increased by 15 percent. The company will expand its capital expenditure by 40 percent this year against the RMB500 million in the last year. (Sing Tao Daily B4)

HSBC (5 HK) issued US$2.5 billion 5.10 percent senior unsecured notes due April 2021 pursuant to the senior indenture in 26 August 2009. (Sing Tao Daily B4)

Minmetals Resources (1208 HK) announces that it has received written notice from the Foreign Investment Review Board of Australia that the Australian Government has no objection to its proposed acquisition of all the outstanding common shares in Equinox. (Hong Kong Economic Journal P12)

Shimao Property Holdings (813 HK) recorded contracted sales of 6.341 billion yuan in Q1, up 15pc yoy. Sales in March reached 2.014 billion yuan. (Hong Kong Economic Times A13)

Sustainable Forest (723 HK) announces that Leung Chau Ping, Paul has resigned as its CEO, member of the executive committee, member of the remuneration committee and authorized representative with effect from 6 Apr and has been re-designated as a non-executive Director with effect from 6 Apr. (Hong Kong Economic Journal P12)

Samling Global (3938 HK) will see an increase in prices of export wood business due to the growing demand of Japan’s reconstruction. (Sing Tao Daily B11)

TLT Lottotainment Group (8022 HK) has agreed to place shares to raise around HK$28.7 million. Its shares resume trading today. (Hong Kong Economic Journal P12)

Up Energy Development (307 HK) proposes to implement a share consolidation on the basis that every 20 issued and unissued shares will be consolidated into 1 consolidated share. It also proposes to change the board lot size for trading in the shares from 4,000 shares to 2,000 consolidated shares after the share consolidation becoming effective. (Hong Kong Economic Journal P12)

Uni-President China (220 HK) has entered into acquisitions of Cartelo Industries and Shanghai Ruxin at an aggregate consideration of RMB630 million for the sale of general merchandise and home appliance, property management, meeting service and lease of self-owned properties.(Sing Tao Daily B4)

Ericsson has sued ZTE (763 HK) over several patent infringements that involve both handsets and infrastructure. ZTE is considering bringing a lawsuit against Ericsson for the patent invalidation of Ericsson. (Sing Tao Daily B5)

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

Hong Kong Stock Market Wrap April 4th, 2011

Aluminum Corporation of China (2600 HK) notes that with the great demand of copper and aluminium, the prices of copper and aluminium will remain high and are likely to go higher this year. (Sing Tao Daily B3)

An Hui Conch Cement (914 HK) A shares issues positive profit alert. The company expects that the net profit in Q1 will exceed RMB1, 975 million, or up over1.5x. (Sing Tao Daily B3)

BYD Company (1211 HK) plans to sell E6 electric cars in Korea. This plan will be launched in October this year. This move is expected to bring an impact on Korean car manufacturers. (Sing Tao Daily B3)

China Gold International Resources (2099 HK) announced the company’s 2011 exploration plan for its Jiama copper-gold poly-metallic project in Tibet, China. The new exploration program consists of 31,200 meters of drilling with 56 diamond-drilling holes conducted in three phases and with a budget of US $5.6 million (HK$43.68 million). (Hong Kong Economic Times A13)

The diversified network routing development strategies of Hutchison Telecommunications (215 HK) help the company quickly recover from the earthquakes in Japan. The company also gives a support in network repairing for five telecommunications operators in Singapore, United States, Japan, Vietnam and Philippines. (Sing Tao Daily B3)

Metallurgical Corporation of China (1618 HK) will speed up its plan of moving steel plants out of 37 city centres in Mainland China. The company also anticipates that the non-metallurgical operations will contribute up to 40 percent of the company’s overall profit. (Hong Kong Economic Journal P6)

Minmetals Resources (1208 HK) proposes the acquisition of Equinox for providing a boost to the US$1 billion financing plan as well as the company’s long-term value. (Sing Tao Daily B3)

Two executive directors of Mongolia Investment Group (402 HK), Lin Xiang and Enebish Burenkhuu, along with the company’s five shareholders have brought a lawsuit to the High Court and applied for restraining the company from proceeding in any way in the placement of shares. The company takes the view that there is no merit in the application to restrain the company from proceeding with the placing. (Sing Tao Daily B3)

Central China Real Estate (832 HK) announces that wholly-owned subsidiary CCRE China has agreed to dispose its 25.1% equity interest in Henan New Town to Bridge-CCRE Trust at the consideration of RMB163,630,000. (Hong Kong Economic Journal P5)

Chaowei Power Holdings (951 HK) will invest and construct a new production facility in Shanggao County, Jiangxi Province. The project will be carried out in 4 phases and expected to be completed by 31 Dec 2012. It is expected that upon the completion of the 1st phase, Jiangxi Chaowei will have an annual production capacity of 12 million sets of electrode plates. The estimated total investment for the 1st phase is around RMB150 million. (SingTao Daily B7)

China Medical System (867 HK) has agreed to acquire the entire issued share capital of Tianjin Precede Medical Trade Development for a total consideration of around HK$1,548.9 million. The principal activities of Tianjin Precede are marketing, promotion and sale of prescription pharmaceutical products manufactured by domestic pharmaceutical companies in the PRC. (Hong Kong Economic Times A7)

Hong Kong Resources (2882 HK) was notified by its executive director Chui Chuen Shun that on 4 Apr the Magistrate of the Eastern Magistrates’ Courts imposed a fine of HK$42,000 on him for his failure to perform his duty of disclosure to notify the HK Stock Exchange and Hong Kong Resources of the cessation of his interest in the share capital of Hong Kong Resources within the period specified under a section of the Securities and Futures Ordinance. Chui was also ordered by the magistrate to pay an investigation cost in the sum of HK$28,625 to the Securities and Futures Commission. According to Hong Kong Resources, the non-disclosure mainly relates to Chui’s then interest in its controlling shareholder Perfect Ace Investment. Chui indicated to Hong Kong Resources that the non-disclosure was due to a misinterpretation of the relevant section. (Hong Kong Economic Times A8)

Kingway Brewery Holdings (124 HK) Limited has been informed by controlling shareholder GDH on 4 Apr that GDH has decided to exercise a pre-emption right in respect of the whole of certain shares on the same or equivalent terms as those HAPBC is proposing to sell the shares to a potential purchaser. Accordingly, GDH will acquire the shares at a total consideration of RMB1.08 billion. (Hong Kong Economic Times A7)

SPG Land (Holdings) (337 HK) proposes to issue US$200 million 13.5% senior notes due 2016. The net proceeds, estimated to be around US$190.9 million, will be used for repayment of certain offshore loans and general corporate purposes. Approval in-principle has been received for the listing of the notes on SGX-ST. (Hong Kong Economic Journal P5)

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

Hong Kong Stock Market Wrap April 1st, 2011

IPO: NT Pharma sets it offer price between HK$4.54 and HK$6 and plans to issue 357 million shares for its IPO in Hong Kong. The company will kick off the roadshow today. (Hong Kong Economic Journal P4)

Beijing Capital Land (2868 HK) plans to spin off its Outlet business to be listed in future. No timetable is available. (Hong Kong Economic Times A10)

Due to the limited potential increase of coal prices, China Bluechemical Ltd. (3983 HK) plans to enter into more coal mine acquisitions as a fertilizer enterprise of self-producing coals as raw materials. (Sing Tao Daily B15)

China Huiyuan Juice Group (1886 HK) expects that the sales of tea beverage business of the company will account for 10 percent over the next three to five years. Along with the cooperation with other brands, the company’s capacity utilization rate is expected to see an increase to 2/3 this year. (Hong Kong Economic Times A10)

Country Garden Holdings Company (2007 HK) announced that the turnovers of the company for Q1 this year amounted to around RMB9.3 billion. The contract sales floor area was about 1.44 million square metres. (Hong Kong Economic Times A10)

Henderson Land Development (12 HK) notes that the company’s real estate business in Mainland China has entered into a “growing period” with a sale and a pre-sale target amounting to RMB10 billion. The company also plans to explore commercial building businesses in the second-tier and third-tier cities. (Sing Tao Daily B15)

Kingboard Chemical Holdings (148 HK), with Hallgain Management Limited, has entered into a loan agreement of HK$4.8 billion with a term of five years. (Sing Tao Daily B15)

Metallurgical Corporation of China (1618 HK) proposes to issue US dollar-denominated bonds in Hong Kong this year for the development of real estate business and engineering contracts. (Sing Tao Daily B15)

China Forestry (930 HK) announces that Haitong International Capital (formerly known as Taifook Capital) resigns as its compliance adviser with effect from 1 April. (Hong Kong Economic Times A12)

Longfor Properties (960 HK) announces an issue of US$750,000,000 9.5% senior notes due 2016. The estimated net proceeds amounts to around US$735,000,000, and it intends to use the net proceeds to finance existing and new property projects and for general corporate purposes. (Hong Kong Economic Journal P7)

RCG (802 HK) announces that Raymond Chu Wai Man, non-executive director and shareholder , together with Full Future Group, company wholly-owned by him, has on 31 March sold off-market 13,852,211 ordinary shares at HK$2.05 each. (Hong Kong Economic Times A12)

Shimao Property (813 HK) announces that all outstanding floating rate notes due 2011 will be redeemed in full on 3 May 2011 at a redemption price equal to 100% of the principal amount thereof, plus the applicable floating rate premium as of, and accrued and unpaid interest to (but not including) the redemption date. The principal amount of the floating rate notes outstanding is US$250,000,000. It will satisfy the payment of the outstanding principal amount using proceeds from the offering of the 2011 notes. (Hong Kong Economic Journal P7)

SOHO China Limited (410 HK) acquires Caojiadu Land, JingAn District, Shanghai, with total planned gross floor area of about 81,000 m2, at RMB1,534,080,000 for commercial, residential and office uses. (Hong Kong Economic Journal P7)

TCL Communication Technology (2618 HK) plans to acquire the fixed line telephone business of TCL Communication Equipment (Huizhou) for RMB120,000,000. (SingTao Daily B12)

Yuexiu Property (123 HK) has entered into agreements with 2 banks for unsecured term loan facilities. The first loan facility was a facility of up to HK$500 million; the second, up to HK$300 million, both for a term of 3 years. (Hong Kong Economic Journal P7)

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

Hong Kong Stock Market Wrap March 31st, 2011

Beijing Enterprises Holdings (392 HK) booked profit attributable to shareholders of about HK$2.639 billion, up 10% over last year. Basic earnings per share amounted to HK$2.32. A final dividend of HK45 cents per share was proposed. (SingTao B3)

China CITIC Bank (998 HK) announces that Kong Dan has resigned as the chairman of the board and a non-executive director of the bank and the bank has approved the nomination of Tian Guoli as a non-executive director. (SingTao B6)

China Mengniu Dairy Company (2319 HK) announced that the company’s net profit for 2010 increased by 10.9 percent year-on-year to RMB1, 237 million, with earnings per share of RMB0.712. The company proposed a final dividend of RMB0.16 per share. (Hong Kong Economic Journal P3)

China Merchants Bank (3968 HK) announced that the bank’s net profit for 2010 increased by 41.23 percent to RMB25.769 billion, consistent with expectations, with a dividend of RMB0.29 per share and a dividend payout ratio of 23 percent. (Hong Kong Economic Journal P10)

China Properties Group (1838 HK) announced its net profit for 2010 decreased by 53.4 percent year-on-year to HK$4.48 billion. The earnings per share was HK$2.48. No final dividend was proposed. (Hong Kong Economic Times A15)

China Vision Media Group (1060 HK) plans to increase the proportion of mobile new media business up to 20 percent this year, compared with 2.6 percent last year. The company will further extend its business into the networks of China Unicom and China Telecom this year. (Hong Kong Economic Journal P10)

Hopson Development (754 HK) posted profit attributable to shareholders of HK$5,889 million. Basic earnings per share were HK$3.43 per share. A final dividend per share of HK17.15 cents per share was proposed. (SingTao B7)

Huaneng Power International (902 HK) notes that the unit fuel cost for 2011 is expected to go up about 8 percent. The power generated by the company saw a double-digit increase in the first quarter this year. The nuclear leakages in Japan will not impair the nuclear power plans set by the company. (Hong Kong Economic Journal P6)

Lingbao Gold Company (3330 HK) has resolved to propose to issue A shares in the PRC but has not applied to any relevant governing authorities for the approval of the A share issue. (SingTao B6)

Metallurgical Corporation of China (1618 HK) registered profit attributable to equity holders of RMB5,321 million, a year-on-year increase of 20.25%. It recommended the payment of a final dividend of RMB0.047 per ordinary share. (SingTao B6)

Sands China Ltd (1928 HK), a subsidiary of Las Vegas Sands Co., is under investigation by Hong Kong Securities and Futures Commission (SFC) in relation to the alleged breaches of the provisions of the Securities and Futures Ordinance and has been requested to produce certain documents. (Hong Kong Economic Journal P3)

United Company RUSAL (486 HK) reported net profit of US$2,867 million for 2010 compared to net profit of US$821 million for 2009. Net Debt reduced to US$11,472 million. No dividends were declared and paid. (SingTao B3)

Zijin Mining Group (2899 HK) announced its net profit for year 2010 increased by 35.5 percent to RMB4.81 billion. The progress was mainly due to the increase of gross profit margin lead by the rise in gold prices. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap March 30th, 2011

AAC Acoustic Technologies Holdings (2018 HK) plans to change to English name of the company “AAC Acoustic Technologies Holdings Inc.” to “AAC Technologies Holdings Inc.” and to change the Chinese name from “瑞聲聲學科技控股有限公司” (which was adopted by the company for identification purpose) to “瑞聲科技控股有限公司”. (Hong Kong Economic Times A14)

Bank of Communications (3328 HK) proposes to dispatch to the holders of H Shares and the holders of A Shares with a cash dividend of RMB0.20 for every 10 shares held by way of capitalization of retained earnings and a bonus issue of shares on the basis of 1 bonus share for every 10 shares held by way of capitalization of retained earnings. Its net profits increased by 29.63% as compared to the corresponding period in prior year to RMB39.042 billion for the year ended 31 December 20. (SingTao B2)

China Agri-Industries Holdings (606 HK) reported profit attributable to the owners of the company for 2010 of HK$1,701.6 million. Basic earnings per share were 43.21 HK cents. It recommended the payment of a final dividend of 3.9 HK cents per share. (SingTao B6)

China Communications Services (522 HK) plans to issue the rights shares in the proportion of four rights shares for every ten existing shares. The company will seek the approval from shareholders to raise up to RMB6 billion through this rights issue of shares for development and acquisitions. (Hong Kong Economic Times A14)

China Merchants Holdings (144 HK) recorded the net profit for the year ended 31 December 2010 of RMB5, 876 million, an increase of 81.5 percent year-on-year. Based on the situation of China’s import and export, the company anticipates the port handling charges will go up this year. (Hong Kong Economic Times A12)

China National Materials Company (1893 HK) plans to inject RMB25.9 billion for investment this year, 2 times that of last year. The monthly average order size for all orders of the first four months amounts to RMB4 billion this year. (Hong Kong Economic Times A14)

CNOOC (883 HK) announces that it has signed an agreement with Tullow Oil plc for a one-third interest in 3 exploration areas in Uganda for 1.467 billion U.S. dollars. (SingTao B2)

Mr.Cai Dongchen, chairman of China Pharmaceutical Group (1093 HK), notes that the company plans to diversify its product portfolios by adjusting the business in proportions of 1/3 Vitamin C, 1/3 antibiotics and 1/3 medicine business. He also notes that the increasing demand for iodine pills will last for a short period in the market. (Hong Kong Economic Journal P8)

Dongfeng Motor Group (489 HK) booked profit attributable to shareholders of around RMB10,981 million, an increase of 75.7%. It recommended distributing a dividend of RMB 0.18 cents per share for the year ended 31 December 2010. (SingTao B6)

Foxconn International (2038 HK) experienced a loss of profit for 2010 totaling US$218 million (around HK$1.7 billion). This loss is mainly attributable to the impairment of assets caused by moving plants, rising wages and loss of business revenue, etc. No final dividend was proposed. (Hong Kong Economic Times A12)

Hang Seng Investment has (11 HK) re-opened its RMB bond fund to both retail and institutional investors for subscription. The fund invests primarily in yuan-denominated debt securities which are issued or distributed outside China. (Hong Kong Economic Times A16)

Industrial and Commercial Bank (1398 HK) recorded net profit attributable to equity holders of RMB 165.156 billion for the year ended 31 December 2010. Final dividend was RMB0.184 per share. (SingTao B2)

China Zhongwang (1333 HK) expects that its export sales to the US and net profit for the three-month period ending 31 March 2011 will decline substantially as compared to the same period of 2010. (SingTao B4)

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