China Automation Group (569 HK) plans to purchase 30% equity interest in Wuzhong Instrument at an aggregate consideration of RMB97,786,000. (SingTao Daily B4)
China Resources Cement (1313 HK) plans to purchase three cement production lines in Shaxi Province, PRC. The total consideration for the acquisition is approximately RMB280 million. (Hong Kong Economic Journal P8)
China Rongsheng Heavy Industries (1101 HK) hopes that its ocean engineering sector will account for 20 percent of its business, up from 5 percent, for the future. In terms of shipbuilding, the company will focus on large ore carriers (VLCO) in 2011 and 2012. (Hong Kong Economic Times A11)
Despite the slow growth in 3G service subscriptions in April, China Unicom (762 HK) said that they are still confident towards the goal of 25 million subscribers for 3G services. The company will optimize some promotion strategies instead of merely price cutting. (Hong Kong Economic Times A11)
Market sources say GCA Professional Services (8193 HK) plans to raise funds through placing. (SingTao Daily B2)
Glencore (805 HK) announced yesterday that its retail tranche in HK was almost 3 times oversubscribed. (SingTao Daily B2)
Harbin Power Equipment (1133 HK) intends to inject RMB1.348 billion in cash to purchase 200 million A shares in Datang International. (Hong Kong Economic Times A11)
HSBC (5 HK) shares went down and finished at 79.1 each. (SingTao Daily B1)
Li Ning (2331 HK) has kicked off restructuring last year to improve its brand image in competitions with other international sports brands. The process, however, takes longer than expected. Orders and contracts often disappoint market anticipations. Share prices of Li Ning dropped 56 percent compared with its peak time. (Hong Kong Economic Times A11)
Pacific Plywood Holdings (767 HK) announces that it will engage in securities investments as one of its principal business activities. The securities investment will principally comprise of securities from companies listed on the Stock Exchange. The securities investments will be held for short term trading purpose. (SingTao Daily B4)
PCCW (8 HK) has offered free Wi-Fi services at 158 public rental housing estates across Hong Kong. Around 2 million residents will benefit from this. PCCW has been providing free Wi-Fi at 45 public rental housing estates in Hong Kong since 2008. (Hong Kong Economic Journal P8)
Qin Jia Yuan Media Services (2366 HK) announced that the company recorded growth for the six months ended 31 March 2011 and hopes to raise overall advertising price by 10 percent in the second half of this year. (Hong Kong Economic Times A11)
Shanghai Industrial Holdings (363 HK) entered into a facility agreement with Bank of China (Hong Kong) yesterday for a term loan facility of RMB1 billion for a term of up to 3 years. (SingTao Daily B4)
Market sources say Shunfeng Photovoltaic International (1165 HK) deciedes to put off its listing plan. The company had planned to open its retail book on 31 May. (SingTao Daily B2)
South China Land (8155 HK) has entered into an agreement for investing into an urban complex development project in Huanghua New City of Cang County. The site covers a total area of about 457 mu and total investment will be around RMB1.6 billion. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
