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
