China Aoyuan Property Group (3883 HK) has acquired a land in Panyu, Guangzhou at a consideration of RMB522,900,000, the land with a site area of some 48,189 square meters and the plot ratio of not more than 2.6. (Hong Kong Economic Journal P12)
China Forestry (930 HK) signs a non-binding letter of intent with the Government of Qiandongnan Perfecture, Guizhou province. It will invest in and develop three million mu (about 200,000 hectares) of renewable raw material forestry base land, and provide environmentally friendly forestry products processing, wood (bamboo) and seed cultivation, new varieties of polyploidy trees as well as cultivating new varieties of genetically modified trees, and the sales and research and development of related products. (Hong Kong Economic Journal P8)
China Gogreen Assets Investment (397 HK) intends to seek shareholders’ approval for a proposal which involves a possible disposal of all 1,000,000,000 Apollo Solar Energy shares it holds. The aggregate gross proceeds are estimated to be HK$576 million and the net proceeds, around HK$573.5 million. (Hong Kong Economic Journal P10)
HSBC revised down its price target for China Railway Construction Corp (1186 HK) from HK$9.1 to HK$7.4 yesterday. Shares dipped 3pc. (Hong Kong Economic Times A14)
HSBC cut its price target for China Railway Group (390 HK) from HK$5 to HK$4.5 yesterday. Shares slid 1pc. (Hong Kong Economic Times A14)
CITIC Resources Holdings Limited (1205 HK) proposed rights issue on the basis of three rights shares for every ten existing shares at the subscription price of HK$1.38 per rights share to raise HK$2,505 million. (Sing Tao Daily B3)
CT Holdings (International) Limited (1008 HK) announced the memorandum of understanding in relation to the acquisition of around 47 percent equity interests in BB Jinhuangshan. (Sing Tao Daily B2)
A number of railway stocks went down yesterday, among which CSR Corporation (1766 HK) shares suffered the greatest drop of over 6pc. (Hong Kong Economic Times A14)
Sources say that the contract sales of Evergrande Real Estate Group (3333 HK) saw a growth of 63 percent year-on-year, or an increase of 11 percent month-on-month, to around RMB6.1 billion in April 2011. (Sing Tao Daily B2)
Huiyin Household Appliances (1280 HK) announced that sales of the company surged 1.12x for the Golden Week Holiday in May. The same store sales went up 36 percent during the Holiday. (Sing Tao Daily B2)
Ping An Insurance (Group) Company (2318 HK) of China announced that the company will allocate the most part of capital for fixed income investment products. Stocks-related equity assets accounted for 10 percent of the company’s investment portfolio during the past two years. (Sing Tao Daily B2)
Proview International Holdings Limited (334 HK) announces that Ms. Hui Siu-ling, Elina will cease to be the Acting Chairman and CEO of the company; Ms. Sun Min, an Executive Director, will be appointed as the Chairman and Mr. Yu Genming, an Executive Director, will be appointed as the CEO of the company with effect from 20 April 2011. (Sing Tao Daily B2)
Sino-Life Group Limited (8296 HK) announced that the company may experience a loss in profit for the first quarter in 2011. Factors such as the increase in expenses for the expansion of business in China and the promotion expenses for the commencement of business operation in Hong Kong contributed to such a loss. (Sing Tao Daily B2)
Sinopharm Group (1099 HK) saw profit in Q1 jump 27.6pc yoy to RMB402m. The shares finished at HK$27 each yesterday. (Hong Kong Economic Times A14)
Sunevision Holdings Ltd. (8008 HK) announced the third quarterly results for the nine months ended 31 March 2011. The profit attributable to the owners of the company dropped 16 percent year-on-year to HK$196 million. (Sing Tao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
