Ajisen (China) (538 HK) has witnessed its high growth in profit by increasing the number of branches last year. The company plans to open medium and small-size branches and prune menu plans to further improve the turnover rate. (Hong Kong Economic Times A12)
China Flooring (2083 HK) kicks off its global public offering today. Its offer price is set between HK$2.95 and HK$4.2 apiece. A board lot of 1,000 shares will cost as much as HK$4,242. (Sing Tao Daily B6)
Galaxy Entertainment (27 HK) opened its door yesterday after five-year’s preparation for the big day. The 550,000 square metre property is well capable of catering for up to 30,000 – 40,000 customers a day. Apart from ten VIP sectors, Galaxy Macau is allocating 450 gaming tables to the mass market. (Hong Kong Economic Times A12)
Longlife Group (8037 HK) announced that, for the six months ended 31 March 2011, the company recorded losses of HK$649,000, a sharp decrease in losses as compared with the HK$3.068 million for the corresponding period last year. No interim dividend is declared. (Sing Tao Daily B3)
Mudan Automobile (8188 HK) Shares Company announced that for the three months ended 31 March 2011, the company recorded losses of RMB7.66 million. No interim dividend is declared. (Sing Tao Daily B3)
Orient Day (632 HK) disposed of over 710 million Shares held by it to certain independent third parties, including Mr. Ma Yueng-Lin, whose family owns Yuanta Financial Holding Co., Ltd. Mr. Ma subscribed for 560 million shares in Orient Day. (Sing Tao Daily B4)
PICC (2328 HK) sets its plan to get into the list of the world top 5 non-life insurance companies in five to ten years’ time. The premium scale is expected to increase to RMB280 billion – RMB300 billion. (Hong Kong Economic Times A12)
Shengli Oil & Gas Pipe Holdings Limited (1080 HK) announced that the company and its subsidiaries won a total of five open tenders for the supply of around 150,800 tons of oil and gas pipes, with total contract price expected to approximately RMB1.46 billion. (Hong Kong Economic Journal P8)
China Merchants China Direct Investments (133 HK) disposed of an aggregate of 8,000,000 A shares of Industrial Bank Co., Ltd and the net proceeds arising from the disposal amounted to RMB240.38 million during the period from13 Dec 2010 up to 30 Apr 2011.(Hong Kong Economic Journal P17)
Sinopec Corp (386 HK) announces that Fu Chengyu has been elected as chairman of its fourth session of the board at the fourteenth meeting of the fourth session of the board held yesterday with immediate effect. (SingTao Daily B14)
GCL-Poly Energy (3800 HK) proposes to conduct an international offering of senior notes and will commence a series of roadshow presentations beginning next week. (SingTao Daily B14)
Lonking Holdings (3339 HK) proposes to issue senior notes and will commence a series of presentations beginning next week. (SingTao Daily B14)
Midas Holdings (1021 HK) announces that 1Q2011 ended with profits attributable to shareholders of roughly RMB60.4 million which represented a 25.4% rise over the corresponding 1Q2010. (SingTao Daily B14)
Shenguan Holdings (Group) (829 HK) has resolved to recommend a bonus issue of new shares on the basis of ten bonus shares for every ten existing shares.
(Hong Kong Economic Journal P17)
Shinhint Acoustic Link (2728 HK) says it is expected that the group may record a loss for the six months ending 30th June 2011 as compared with a profit recorded for the corresponding period in 2010, which is mainly attributable to the expected drop in sales revenue and the continuous increase in production costs as a result of the surge in labour costs, rise in raw material prices and appreciation of RMB. (Hong Kong Economic Times A11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
