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
