Hong Kong Stock Market Wrap June 29th, 2011

BYD Company (1211 HK) announced that for the year ended 31 March 2011, its net profit experienced a cut of 84 percent quarter-on-quarter to RMB267 million. This loss is mainly due to a drop of sales in car business and the increase in management and financial cost. (Sing Tao Daily B4)

Dr. Michael Y.K. Chan will retire as the Chairman of Café de Coral Holdings Limited (341 HK) in March next year and he will continue to hold a non-executive position in the company. (Sing Tao Daily B5)

China Resources Cement (1313 HK) announced that the company has agreed to buy 40.6 percent of equity interest in Panda at the consideration of RMB1, 563 million for further engagement in the production and sale of clinker and cement in Inner Mongolia. (Sing Tao Daily B4)

Chinese Estates (127 HK) has sold 61.96 percent of the entire issued share capital in Chi Cheung Group to an independent third party. (Sing Tao Daily B4)

China South City Holdings (1668 HK) saw profit attributable to owners of the parent increase by 16.8% year-on-year to approximately HK$1,552.5 million. It proposed a final dividend of HK2.5 cents per share. (Hong Kong Economic Journal 14)

Global Green Tech Group (274 HK) announces a placing of up to 323,000,000 shares at a price of HK$0.1 per placing share. The estimated net proceeds of the placing will be roughly HK$31.8 million. (Hong Kong Economic Journal 30)

Luk Fook (590 HK) announced that for the year ended 31 March 2011, the company’s net profit amounted to HK$800 million, or up 63 percent year-on-year. A final dividend of HK42 cents per share was declared. (Sing Tao Daily B4)

Modern Beauty Salon (919 HK) booked profit attributable to owners of the company of about HK$43.9 million for the year ended 31 March 2011. It recommended the payment of final dividend of HK2.88 cents per share. (Hong Kong Economic Journal 30)

Fantasia Holdings Group (1777 HK) announces a purchase of the entire equity interests in TCL King Electronics (Shenzhen) at a consideration of around RMB315.5 million. (Hong Kong Economic Journal 14)

Sustainable Forest Holdings (723 HK) posted net profit of about HK$341.5 million, an increase of 25%. It recommended the payment of a final dividend of HK0.45 cent per ordinary share and HK0.084 cent per convertible preference share. (Hong Kong Economic Journal 14)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 28th, 2011

Bosideng International (3998 HK) recorded a net profit has gone up by 18.3 percent to RMB1,276 million for the year ended 31 March 2011. The company declared a final and special dividend of HK12.8 cents per share. (Sing Tao Daily B4)

Cheung Kong (1 HK) and Hutchison Whampoa (0013) won a bid of a residential development site in Nanjing, China. The 119,502-square-meter plot cost the two RMB3.18 billion. They expect to inject HK$6.95 billion for developing the site and building apartments. (Sing Tao Daily B5)

China Timber Resources (269 HK) announced that for the year ended 31 March 2011, the company experienced a profit loss of HK$154 million, or expanding 3.64x in loss compared with last year. (Sing Tao Daily B4)

Dah Chong Hong (1828 HK) announces that it has entered into a provisional agreement to dispose of a property at G/F, 56 Percival Street, Causeway Bay for a consideration of HK$195,000,000. It is estimated that a gain of about HK$81,000,000 will be recorded in respect of the property. (Hong Kong Economic Journal 26)

Fantasia Holdings Group (1777 HK), a subsidiary of Fantasy Pearl International Limited, has acquired 48 percent of equity interest in Shenzhen Fantasia Investment. Fantasy Pearl, representing 65 percent of the issued share capital of the company before the acquisition, now holds 61 percent of the company’s equity interest. (Sing Tao Daily B4)

Fosun International (656 HK) announces that it is currently considering a possible spin-off and separate listing of Hainan Mining on the Main Board of the Shanghai Stock Exchange. It submitted a proposal to the bourse yesterday. (Hong Kong Economic Times A12)

HungHing Printing Group (450 HK) saw profit attributable to shareholders decline by 6% to HK$156 million for the year ended 31 March 2011. It proposed a final dividend of HK5cents. (Hong Kong Economic Journal 10)

Karrie International (1050 HK) saw profit attributable to equity holders for the year ended 31 March 2011 increase by 70% to HK$21,223,000. It recommended to pay a final dividend of HK1.1 cents per share. (Hong Kong Economic Journal 10)

Mongolia Energy Corporation (276 HK) announced that for the year ended 31 March 2011, the company’s net profit saw a loss of HK$311 million, or down by 2.1 percent year-on-year. No final dividend was announced. (Sing Tao Daily B4)

Sparkle Roll Group (970 HK) registered net profit of 184 million for the year ended 31 March 2011, surging 62.5pc yoy. It recommended the payment of a final dividend of HK1 cent per share. (Hong Kong Economic Journal 10)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 27th, 2011

Beijing Enterprises Holdings (392 HK) announces that Beijing Capital Airport Expressway, a toll road operated by it, adjusts its toll policy and toll schedule with effect from 1 July. It estimates that there will be negative impact on its operating results in the 2H. (Hong Kong Economic Journal 21)

It is reported that Cheung Kong Infrastructure (1038 HK) has released a statement in London saying that CKI is in the preliminary stages of assessing a potential cash offer for British utility Northumbrian Water. (Hong Kong Economic Times A12)

Hanny Holdings (275 HK) announces a disposal of 49% equity interest in a parcel of land in Guangzhou at the consideration of approximately HK$746.86 million. It expects to record an estimated loss of roughly HK$4.75 million. (Hong Kong Economic Journal 21)

Moiselle International (130 HK) announced that the company recorded a net profit of HK$78.55 million, or up 44 percent for the year ended 31 March 2011. A final dividend of HK13 cents per shares was declared. (Sing Tao Daily B3)

Real Gold Mining (246 HK) announces that Mak Kin Kwong has resigned as its independent non-executive director and the chairman of its audit committee with effect from 24 June. (Hong Kong Economic Times A12)

Royale Furniture Holdings (1198 HK) says it is expected to record an increase in profit of over 40pc for the six months ending 30 June 2011 compared with that of the six months ended 30 June 2010. (Hong Kong Economic Journal 21)

Tsingtao Brewery (168 HK) plans to inject RMB800 million into new production bases in Jieyang, Guangdong Province, PRC to improve production of bottled beer and canned beer. The annual output from this bases is expected to amount to 600,000 kiloliters. (Sing Tao Daily B3)

Polytec Asset (208 HK) plans to spend HK$500 million on further exploitation of oilfields. But the company’s energy business still takes a small part of its net assets. The company aims to focus on energy business with good potential in the future. (Sing Tao Daily B3)

Samson Paper (731 HK) announced that the company has recorded a net profit of HK$73 million, or up 18 percent year-on-year for the year ended 31 March 2011. A final dividend of HK1 cent per share was declared. (Sing Tao Daily B3)

Willie International Holdings Ltd. (273 HK) agreed to acquire 60 percent of the issued sharer capital in China Energy Worldwide Investment Ltd. The consideration for the acquisition shall be HK$1. (Sing Tao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 24th, 2011

China Zhengtong Auto Services (1728 HK) has bought the entire equity interest in Acme Joy Group Limited at a consideration of RMB327.4 million (Sing Tao Daily B12)

Fantasia (1777 HK) has purchased 48 percent of equity interest of Shenzhen Fantasia Investment at a consideration of HK$400 million. (Hong Kong Economic Times A10)

Haier Electronics (1169 HK) agreed to buy the entire equity interest of Qingdao NG, a wholly owned subsidiary of the company at a consideration of RMB240 million. Qingdao NG includes the provision of the after-sale services and value-added consumer services for home appliances. (Hong Kong Economic Journal P8)

Mongolia Investment (402 HK) announced that for the year ended 31 March 2011, the company recorded a loss of HK370 million, with a loss of HK6.67 cents per share. No dividend is declared. (Sing Tao Daily B12)

Vantage International (15 HK) announced that for the year ended 31 March 2011, the company’s net profit has saw an increase of 48 percent to HK$284 million, with HK19 cents for basic earnings per share. No dividend was declared. (Sing Tao Daily B12)

China Corn Oil (1006 HK) expects a significant increase in profit for the six months ending 30 June, mainly due to the increases in both the selling prices of its oil products and the sales amounts of its branded corn oil products consummated by the additional refinement capacity of the new refinement plant which commenced production in Q4 last year. (Sing Tao Daily B3)

The parent of Guangdong Investment (270 HK) issues US$250 million 3% guaranteed exchangeable bonds due 2016. The bonds are exchangeable into Guangdong Investment shares at an initial exchange price of HK$5.551 apiece. (Sing Tao Daily B3)

ICBC (1398 HK) has received approvals from the China Banking Regulatory Commission and PBOC, pursuant to which approvals were granted to the bank to issue subordinated bonds in an amount of not exceeding RMB38 billion. (Hong Kong Economic Journal 21)

Lippo China Resources (156 HK) announces that its indirect wholly-owned subsidiary Topstar China has successfully won a bid for the land use rights to a piece of land in Taizhou City (泰州市), Jiangsu Province. (Hong Kong Economic Journal 21)

Xtep International (1368 HK) announces that due to the recent and ongoing volatility in the global financial markets and the absence of any immediate need to raise funds for working capital, it has decided to postpone a TDR issue until market conditions improve. (Sing Tao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 23rd, 2011

China Merchants Group (144 HK), the parent of China Merchants Holdings (International), plans to issue up to RMB 3 billion, 2-3 pct, 3-year and 5-year offshore bonds in Hong Kong. (Hong Kong Economic Times A14)

Mr. Guo Guangchang, CEO of Fosun International (656 HK), announced no intention of privatization of Fosun International over the next two to three years. He notes that the company still has adequate capital resources to cope with daily operating business. (Hong Kong Economic Journal P6)

Inditex, Zara’s Parent, is reportedly considering the acquisition of Giodano (709 HK). Giodano denied such news. Inditex declined to comment on this matter but admitted that there has not been any contact with Giodano concerning the acquisition. (Hong Kong Economic Journal P6)

Joyce Boutique (647 HK) announced that for the year ended 31 March 2011, the company’s net profit surged 2.8x to HK$133 million. The company proposed an interim dividend of HK 4 cents per share. The company plans to open three fashion shops and one beauty shop in Hong Kong. (Hong Kong Economic Journal P6)

Ju Teng International (3336 HK) says its earnings for the six months ending 30 June 2011 is expected to drop substantially, which is primarily due to decline in gross profit margin. Since the second half of 2010, its gross profit margin has decreased due to rising labour costs and the appreciation of the value of RMB as well as decline in the average selling price of its products. (SingTao Daily B2)

RCG Holdings (802 HK) has agreed to sell its business of trading and distribution of computer-related products and biometrics devices in Malaysia at an aggregate consideration of RM32.40 million. (SingTao Daily B4)

Semiconductor Manufacturing International (981 HK) announces an appointment of professor Lawrence Juen-Yee Lau as non-executive director and Zhang Wenyi as independent non-executive director. Professor Lau was president of The Chinese University of Hong Kong and is the chairman of CIC International (Hong Kong). (SingTao Daily B2)

Soho China (410 HK) has entered into a facility agreement with a syndicate of banks for US$605 million equivalent 3-year transferable term loan facility. The syndicated loan aims to finance the general corporate funding for the company. (Hong Kong Economic Journal P8)

The Hong Kong Parkview Group (207 HK) has been informed by controlling shareholders that they received an indication of interest in relation to a potential acquisition of a controlling stake in the company from them. Whilst there have been discussions, no agreement has been reached yet. (SingTao Daily B2)

Vale S.A. (6210 HK) announces its plan to take its subsidiary Vale Fertilizantes private, expecting this will involve US$1.39 billion. (SingTao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 22nd, 2011

Chen Hsong (57 HK) announced that for the year ended 31 March 2011, the company recorded a net profit up to HK$343 million, or up 124 percent year-on-year. (Hong Kong Economic Journal P9)

Dickson Concepts (113 HK) announced that for the year ended 31 March 2011, the company’s net profit amounted to HK$350 million, or up15 percent, while its revenue went down by 6.3 percent to HK$3,404 million. A final dividend of HK 20 cents per share was announced. (Hong Kong Economic Times A12)

Hang Ten Group Holdings (448 HK) registered profit attributable to shareholders of HK$239 million for year ended 31 March 2011, increased by over 69%. (SingTao Daily B2)

Industrial and Commercial Bank of China (ICBC) (1398 HK) plans to issue 15-year and 20-year, RMB38 billion subordinated bonds next week. The initial new issue sizes will be RMB25 billion and RMB13 billion respectively. The bank hopes to improve its capital adequacy ratio through this issue. (Hong Kong Economic Journal P6)

Kith Holdings (1201 HK) proposes to spin off Megalogic Technology and, prior to the proposed spin-off, a reorganisation will be carried out pursuant to which Megalogic will become the holding company of Minilogic. (SingTao Daily B2)

Encana Corp. (857 HK) announced that its joint venture with PetroChina for the development of shale gas projects has been called off for both sides failed to reach an agreement concerning the negotiation of operation and asset valuation. (Hong Kong Economic Times A12)

Pico Far East (752 HK) announced for the six months ended 30 April 2011, the company’s revenue amounted to HK$1,394 million, or down 4.5 percent year-on-year. The company will provide more services in the second half of 2011 including 2011 Formula 1 Night Race - Singapore Grand Prix and Cotai Strip. Revenue is expected to exceed last year. (Hong Kong Economic Journal P9)

Sihuan Pharmaceutical Holdings (460 HK) plans to acquire a target company holding Vinise Pharmaceutical and Hainan Litzman Pharmaceutical at a consideration of RMB775,000,000. (SingTao Daily B2)

Sino Golf Holdings (361 HK) is informed by a controlling shareholder and its chairman Chu Chun Man, Augustine that they are in preliminary discussion with an independent third party involving, inter alia, a disposal of their shareholding interests in Sino Golf Holdings which, if materialised, may lead to a change in control, a possible associated group reorganisation, a possible issue of new shares and a mandatory unconditional general offer. (SingTao Daily B2)

West China Cement (2233 HK) announces that its subsidiary Yaobai and Yangshanzhuang Cement have entered into a JV agreement to establish a JV company. Yaobai has agreed to inject RMB 530,000,000 to the JV company. Upon completion, the JV company will be owned as to 80% by Yaobai. (SingTao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 21st, 2011

Bauhaus International (483 HK) announced that for the year ended 31 March 2011, the company’s net profit increased by around 39.2 percent to HK$116 million. The total turnover increased by 27.5 percent to HK$1.01 billion. (Hong Kong Economic Times A10)

Beijing Jingkelong (814 HK) will temporarily withhold 20% of the final dividends to be distributed to individual H shareholders. The final dividend per H share after deduction of individual income tax for individual H shareholders is around HK$0.1919896. (SingTao Daily B3)

Chu Kong Shipping Development Company (560 HK) and its parent company Chu Kong Shipping Enterprises have entered into a management agreement. The former will provide management services to part of the businesses of the latter for a term of 3 years commencing from 1 July 2011. (SingTao Daily B3)

China CITIC Bank (998 HK) announces that its applications in respect of an A share rights issue and H share rights issue have been approved by the CSRC. The bank will publish a separate announcement on the formal launch and other details of the H share rights issue in due course. (SingTao Daily B3)

Dalian Port (PDA) (2880 HK) has entered into an investment agreement with its controlling shareholder PDA for an establishment of Dalian Port Finance Company in Dalian. The total registered capital is proposed to be RMB500,000,000, out of which 40% shall be contributed by Dalian Port (PDA) (i.e.,RMB200,000,000) and 60% shall be contributed by PDA (i.e.,RMB300,000,000). (SingTao Daily B4)

Gome (493 HK) said that it filed a lawsuit against its former chairman Chen Xiao for breach of agreement in Beijing in order to protect the company’s reputation. Gome points out that Chen Xiao broke the agreement by offering “false and misleading company information to a financial newspaper” that damage the company’s reputation and impair its business operations. (Hong Kong Economic Times A10)

Imagi International (585 HK) announced that for the year ended 31 March 2011, the company recorded a loss of HK$624 million, contrasted with the loss of HK$1,368 million last year. This loss is mainly due to redemption loss of convertible loan notes, a print and advertising loan and a bridge loan. (Hong Kong Economic Times A11)

Kenford (464 HK) announced that its net profit for 2011 amounted to HK$65.65 million, up 22.6 percent. A final and special dividend of HK4 cents per share was declared. (Hong Kong Economic Journal P9)

Mongolia Energy (276 HK) has been in discussion with an independent third party relating to a possible co-operation for developing its concession areas in Mongolia other than the Khushuut Coking Coal Project. The independent third party may subscribe its new shares. (SingTao Daily B3)

PetroChina (857 HK) and Royal Dutch Shell agreed to set up a joint venture for the development of an innovative and highly automated well manufacturing system that improves the efficiency of the company’s drilling facilitates. This cooperation agreement is waiting for the approval from both governments. Each of the two companies will hold 50 percent interests in the JV. (Hong Kong Economic Times A11)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 20th, 2011

AV Concept Holdings (595 HK) booked profit attributable to its owners of HK$122.4m for the year ended 31 March 2011. A final dividend of HK4 cents per ordinary share was proposed. (SingTao Daily B5)

Burwill Holdings (24 HK) has exercised a call option to further acquire new shares of Tai Xin Minerals at a consideration of HK$259,000,000. Accordingly, its shareholding interest in Tai Xin Minerals will then be increased from 51% to about 70%. (SingTao Daily B4)

China New Town Development (1278 HK) has entered into a fixed assets loan agreement with China Minsheng Banking (Shanghai Branch) for the development of Lake Malaren Silicon Valley Project in its Shanghai Luodian New Town Project. The interest rate of the RMB 600 million 5-yr loan is currently at 7.98% per annum (20% on top of the PBOC 5-year benchmark rate). (SingTao Daily B4)

China Telecom (728 HK) has saw its number of 3G service subscribers increase by 1.83 million for May 2011, outperforming that of 1.738 million for China Unicom (0762). This is the first time for China Telecom to exceed the performance of China Unicom since the company released the subscription results of 3G services in early 2011. (Hong Kong Economic Times A12)

China Windpower Group (182 HK) is planning its tower tube manufacturing business, Tianhe, for a further separate listing, allowing it to develop solar-energy equipment manufacturing. (Hong Kong Economic Journal P9)

Galaxy Entertainment Group (27 HK) notes that it has been confirmed that Permira Advisers LLP did not enter into any business consultancy activities concerning the sell of equity interests in Galaxy Entertainment nor did the fund has any intention of selling its shares in Galaxy Entertainment. (Hong Kong Economic Times A12)

Lifestyle International (1212 HK) plans to sell 90 percent of equity interests in Shenyang Jiajian Property Development Company Limited at a consideration of RMB540 million. The principal asset of Shenyang Jiajian is the commercial-used property situated in Shenhe District, Shenyang, PRC. (Hong Kong Economic Journal P9)

Simsen International Corporation (993 HK) says it is expected that its results for the year ended 30 April 2011 may record a significant turnaround as compared with a loss in the corresponding period in 2010, principally attributable to the turnaround of its core businesses and the gain on disposal of a property in HK. The unaudited net profit for the period may reach around HK$80 million. (SingTao Daily B4)

Sinotrans Limited (598 HK) has entered into shipbuilding contracts regarding the construction of two container ships for a total consideration of approximately HK$280,242,000. (SingTao Daily B4)

Tech Pro Technology Development Ltd. (3823 HK) agreed to buy the whole equity interests in Sandtac Limited at a consideration HK$220 million. (Hong Kong Economic Journal P6)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 17th, 2011

Cathay Pacific (293 HK) announced that the company’s passenger volume rose 1 percent year-on-year in May but cargo throughput fell 12.9 percent year-on-year on weak demand. (Hong Kong Economic Times A11)

Huabao International (336 HK) announced that for the year ended 31 March 2011, the company recorded a net profit of HK$1.6 billion, or up almost 20 percent. A final dividend of HK7.98 cents per share was proposed. (Sing Tao Daily B3)

Huiyin Household Appliances (1280 HK) announced that the company has seen the same store sales growth of nearly 10 percent for the first half of 2011. The company is expected to sustain its 18 percent gross profit margin as last year. The company is considering acquisitions of some shops and expansion of e-commerce for offsetting pressure brought by rising rents. (Hong Kong Economic Times A11)

Industrial and Commercial Bank of China (ICBC) (1398 HK) agreed to buy 80 percent of equity interests, worth between US$700 million and US$800 million, in the Argentina business of Standard Bank, Africa's largest lender by assets. (Hong Kong Economic Times A11)

Vitasoy International (345 HK) has decided to lift the basic salary for staff by 5 percent from 1 July 2011.This increase is well capable of competitiveness in the market and the company will communicate with staff concerning this matter. (Hong Kong Economic Journal P5)

BYD Company (1211 HK) announces that it will issue 79,000,000 A shares at a final offer price of RMB18 per share. (Hong Kong Economic Journal 21)

Comba Telecom Systems (2343 HK) has received a writ issued by the Beijing No. 2 Intermediate People’s Court from Andrew LLC for a civil litigation with respect to an alleged patent infringement by Comba Telecom Systems. Andrew has initiated legal proceedings against Comba Telecom Systems in relation to the alleged patent infringement for its RET Antenna and sought for an injunction and indemnification of economic loss of RMB12 million and other expenses relevant to the litigation. Andrew has also claimed that it has initiated legal proceedings in Brazil in relation to the alleged patent infringement. Comba Telecom Systems considers that the allegation against it for patent infringement in China and Brazil shall not be valid. (SingTao Daily B16)

Ko Yo Ecological Agrotech (Group) (827 HK) has entered into a subscription agreement with IFC to place to the latter up to 355m new shares. The net proceeds from the subscription will be around HK$54.6 million. (Hong Kong Economic Times A10)

Longrun Tea Group Company (2898 HK) announces that the group’s business turnaround resulted in profit attributable to its owners for the year ended 31 March 2011 amounting to HK$59,477,000. (Hong Kong Economic Journal 21)

Shui On Construction (983 HK) and Materials disposes 49% of the issued share capital of and the assignment of a shareholder loan made to Gracious Spring Limited to LaSalle Asia Opportunity III at an aggregate consideration of roughly RMB440 million subject to adjustment based on the final completion statement. (Hong Kong Economic Times A10)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 16th, 2011

Agile Property Holdings (3383 HK) has entered into a facility agreement with the HSBC pursuant to which a term loan facility in the amount of US$100,000,000 has been granted to it for a period of 3 years. (Hong Kong Economic Journal 12)

Alibaba.com (1688 HK) plans to split its e-commerce firm Taobao into three units including Taobao Mall, eTao and Taobao Marketplace to meet various needs from customers. The company notes that it does not exclude any possibility of floating as a “big company”. No timetable is given yet. (SingTao Daily B4)

Hony Capital, the private equity arm of Lenovo Holdings, agreed to subscribe for 150 million new shares in Chinasoft (354 HK). The shares represent around 16 percent of the enlarged issued share capital of Chinasoft. (SingTao Daily B5)

Hua Xia Healthcare Holdings (8143 HK) says the group is expected to record a profit for the year ended 31 March 2011 as compared to a loss for the year ended 31 March 2010. (Hong Kong Economic Journal 29)

Melco Crown Entertainment (200 HK), a 33.36% owned associate of Melco International Development, has announced the acquisition of a 60% equity interest in the developer of Macau Studio City from eSun Holdings. (Hong Kong Economic Times A14)

Oriental City Group (8325 HK) announced that for the year ended 31 March 2011, the company recorded a loss of around HK$3.33 million. The basic losses per shares were around HK0.56 cents. (SingTao Daily B3)

Sa Sa International (178 HK) announced for the year ended 31 March 2011 it read a net profit of HK$509 million, surging 33 percent year-on-year. The Final and special dividends per share was proposed at HK9.5 cents. (SingTao Daily B3)

Shui On Construction (983 HK) and Materials plans to cut its original sales target for 2011 from RMB4 billion to a lower level. The company records at most RMB1 billion in revenue for the recent six months in 2011, falling far short of expectations. The new sales target has yet to be announced. (SingTao Daily B4)

Sunac China Holdings (1918 HK) announces that Sunac Zhidi, Sunac Foundation (its indirect wholly owned subsidiary and a direct wholly-owned subsidiary of Sunac Zhidi), Daye Trust and Oriental Assets have entered into a co-operative agreement for a proposed establishment of a trust scheme by Daye Trust to raise funds with a view to providing funding, through series of steps, to Sunac Foundation for a residential development project at Chang Ping District in Beijing. (Hong Kong Economic Journal 29)

Tradelink Electronic Commerce (536 HK) announces that it has been informed by the government, its substantial shareholder, that it intends to appoint a Financial Advisor-cum-Coordinator to advise it on the strategy to be taken in respect of its 12.3% shareholding in Tradelink Electronic Commerce. The government has explained that this appointment is pursuant to its policy to review from time to time its shareholding in Tradelink Electronic Commerce so as to explore suitable opportunities for reducing its shareholding in the company, having regard to overall market conditions, to uphold the principle of “Big Market, Small Government”. (Hong Kong Economic Journal 8)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 15th, 2011

Artini China Co.(789 HK) says its annual results for the year ended 31 March 2011 are expected to record a further loss as compared with that for the year ended 31 March 2010, which are mainly attributable to increases in losses incurred by its retail operations. (Hong Kong Economic Times A13)

Celestial Asia (1049 HK) and ARTAR has entered into a subscription agreement concerning the issue of around HK$93.6 million convertible bonds. (Sing Tao Daily B3)

China Eastern Airlines (670 HK) says it plans to issue not more than RMB8b bonds with a term less than 5 years. (Hong Kong Economic Journal 29)

Lee & Man Paper Manufacturing (214 HK) announced that for the year ended 31 March 2011, the company’s net profit increased by 0.4 percent to HK$1.85 billion with earnings per share of HK40.13 cents. A final dividend of HK 8 cents per share was declared. (Sing Tao Daily B3)

Loudong General Nice Resources (China) (988 HK) announces a placing of roughly 40,002,000 shares at HK$1.04 each, a discount of around 0.95% to yesterday’s closing price of HK$1.050 per share. (Hong Kong Economic Journal 6)

Man Wah Holdings (1999 HK) announced for the year ended 31 March 2011, its net profit increased by 0.6 percent year-on-year to HK$621.3 million. A final dividend of HK 13 cents per share was announced. (Sing Tao Daily B3)

NetDragon Websoft (777 HK) posted profit for the period attributable to the owners of the company for the first quarter of 2011 about RMB34.6 million, representing an increase of some 63.1% over the same period in 2010. Income derived from mobile Internet business increased by around 45.8% to about RMB6.1 million. (Hong Kong Economic Journal 12)

Petrol China (857 HK) announced that Mr Li Yuan has resigned as an independent supervisor of the company due to personal reasons. This resignation has taken force immediately. (Sing Tao Daily B3)

Suncorp Technologies (1063 HK) proposes to implement a share consolidation on the basis that every 10 shares will be consolidated into one consolidated share and to change the board lot size for trading in the shares from 4,000 shares to 10,000 consolidated shares. (Hong Kong Economic Journal 29)

The Wharf (Holdings) (4 HK) will acquire 50 percent of equity interests in four projects from the parent Wheelock at a cash consideration of HK$3,385 million. The four projects are situated in Shanxi Province, PRC. (Sing Tao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 14th, 2011

CSR Corporation (1766 HK) announces that it will issue A Shares for subscription to its parent company and NSSF. The gross proceeds to be raised from the proposed placing will be not more than RMB11,000 million. Trading in its H shares resumes today. (Hong Kong Economic Journal 23)

Digital China (861 HK) released that for the year ended 31 March 2011 the company’s net profit reached a record high amounting to HK$1.01 billion, or up 22 percent year-on-year. This growth mainly benefits from the significant increase in the revenue of company’s distribution business. The company focuses on expanding citizen card business, or “Mainland Octopus”, which will further boost the company’s business momentum. (Hong Kong Economic Journal P10)

Easyknit International (1218 HK) expects to record a significant increase in profit as compared to the corresponding year ended 31 March 2010. (SingTao Daily B4)

GCL-Poly Energy Holdings (3800 HK) has decided to postpone a proposed notes issue until market conditions improve. (Hong Kong Economic Times A12)

HSBC (5 HK), through its wholly owned subsidiary, has agreed to sell certain elements of its Russian retail banking business to ZAO Citibank. The gross asset value of the businesses to be sold was roughly US$10.7m as at 31 Mar. The sale is expected to be concluded in Q3. (Hong Kong Economic Times A10)

NWS Holdings (659 HK) announces that it will acquire 21.55% effective interest of an expressway Hangzhou Ring Road for about HK$1,769.46 million. (Hong Kong Economic Journal 23)

In order to satisfy the growing demand of white wine business in Mainland China, Silver Base Group (886 HK) expects that the company will push the average selling price of a high-end white wine up to over RMB1,000 before and after the Middle-Autumn Festival this year. The company has already given a 17 percent mark-up to its white wine business in April 2011. (Hong Kong Economic Times A12)

Sino-Ocean Land (3377 HK) announced that the company’s contract sales in May recorded around RMB1.9 billion. Turnovers in the second and third-tier cities experienced an increase with the average selling price down to RMB13, 970 per square meter. (Hong Kong Economic Journal P10)

Suncorp Technologies (1063 HK) agreed to place at most 653 million shares at a price of HK2.2 cents per placing share. The net proceeds from this share placing are expected to reach around HK$13.8 million. (Sing Tao Daily B4)

Vitasoy International (345 HK) announced that for the year ended 31 March 2011, the company’s profit attributable to its shareholders increased by 9.2 percent to HK$284 million, with HK27.9 cents for earnings per share. A final dividend of HK15.1 cents per ordinary share was declared. (Hong Kong Economic Journal P10)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 13th, 2011

China Construction Bank (Hong Kong) (939 HK) issue RMB405 million, 5-year and 17 percent certificates of deposits, or CDs. The Standard Chartered is responsible for this issuance. (Sing Tao Daily B3)

China Metal Recycling (773 HK) announced that the company is expected to record a significant increase in its profit for the six months ended 30 June 2011. The company’s increased market share, the sustainable demand for recycled metals and the expansion of its regional coverage help to promote the company’s revenue this year. (Sing Tao Daily B3)

China Taiping Insurance (966 HK) announces that the accumulated premium income of its subsidiary Taiping Life Insurance for the period from 1 Jan to 31 May amounted to RMB14,971.69 million. (Hong Kong Economic Times A11)

China Zenith Chemical Group (362 HK) announced that the company may experience a profit loss due to the suspension of calcium carbide production, which was caused by the industrial accident occurred in the calcium carbide production facilities of Mudanjiang Daytech Chemical Limited at the end of May 2011. (Sing Tao Daily B3)

Eternite International Company (8351 HK) has entered into a placing agreement with a placing agent to issue convertible notes up to a principal amount of HK$261,000,000. The initial conversion price of the convertible notes is HK$1.88 each. (Hong Kong Economic Journal 7)

Greentown China’s (3900 HK) turnovers for the first half of 2011 failed short of market expectations with revenue of RMB17 billion, realizing only 31 percent of its whole-year target. (Sing Tao Daily B4)

Ping An Insurance (Group) Company of China (2318 HK) announces that the accumulated gross premium income of its subsidiaries, namely Ping An Life Insurance Company of China, Ping An Property & Casualty Insurance Company of China, Ping An Health Insurance Company of China and Ping An Annuity Insurance Company of China, for the period from January 1 to May 31 were RMB64,124.08 million, RMB33,689.05 million, RMB51.13 million and RMB2,432.08 million, respectively. (Hong Kong Economic Times A11)

Silver Base Group (886 HK) announced that for the year ended 31 March 2011, the company’s profit attributable to the shareholders was around HK$585 million, or up 47.7 percent. A final dividend of HK31.9 cents per ordinary share was declared. (Sing Tao Daily B3)

Foreign media reports that Sun Hung Kai Properties (16 HK) issues HK$450m notes in HK, with a term of 15 years. HSBC is the arranging bank. (Hong Kong Economic Journal 9)

ZTE (763 HK) has been notified by a controlling shareholder that it has disposed of 48,495,000 shares in the company, 1.69% of the total share capital of the company, through Shenzhen Stock Exchange yesterday. Following the sell-down, the shareholder holds shares in the company representing 30.76% of the total share capital. (Hong Kong Economic Journal 21)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 10th, 2011

C C Land (1224 HK) has successfully acquired a land lot in Guanghua New City, Qingyang District, Chengdu, PRC, through its 51 percent-owned subsidiary – Chengdu Guojia Cheer Gain Property Company Limited. The total consideration for the Land Lot is around RMB767 million. (Hong Kong Economic Journal P8)

Dynamic Energy (578 HK) announced that three local banks in Zhengzhou, Henan Province, PRC, namely China CITIC Bank Corporation Limited (Zhengzhou Branch), Bank of China Limited (Zhengzhou Branch) and Shanghai Pufa Development Banking Corporation Limited (Zhengzhou Branch), have agreed to provide bank loans to the company for coalbed methane project development in Pingdingshan. (Sing Tao Daily B2)

Hong Long (1383 HK) announced that Mr. Lee Chi Shing Caesar will replace Mr. Young Wai Ching as company secretary of the company and agent of the company for the service of process in Hong Kong with effect from 10 June 2011.(Sing Tao Daily B2)

Natural Dairy (NZ) (462) announced that the issuance of convertible note C in an aggregate amount of HK$109 million has been successfully placed to independent third parties, which was confirmed by Sun Hong Kai Investment Services Limited, the placing agent. (Sing Tao Daily B2)

Sinopoly Battery (729 HK) announced that the company is expected to record a profit loss for the year ended 31 March 2010. According to the company, this loss is mainly due to the breaches of the agreements concerning the acquisition by Mr. Chung and the relevant companies controlled by him. (Hong Kong Economic Times A14)

China Ting Group (3398 HK) Holdings expects to record a decrease in the operating profit generated by its OEM business for the six months ending 30 June 2011. This is expected to adversely affect its operating results for the period. (Hong Kong Economic Journal P21)

China Glass Holdings (3300 HK) announces that, on 10 June 2011, it repurchased 580,000 of its own shares and the aggregate consideration for the share repurchase is HK$1,791,800. (Hong Kong Economic Journal P21)

Convenience Retail Asia (8052 HK) announces that the approval in principle for a transfer of listing from GEM to the main board has been granted by the Stock Exchange and dealings in its shares on the main board will commence on 20 June 2011. (Hong Kong Economic Journal P21)

CCB (939 HK) has resolved that, subject to the approval of a shareholders’ general meeting, the CBRC and relevant regulatory authorities, no more than RMB80 billion RMB-denominated subordinated bonds with maturity no less than 5 years shall be issued. And it was approved that the bank establish a wholly owned commercial bank in Sao Paulo, Brazil, the capital injection of which will be US$100 million. (Hong Kong Economic Times A10)

Genting Hong Kong (678 HK) has utilized roughly HK$63.09 million to further subscribe for shares in Resorts World Inc in proportion to its existing shareholdings in the company. Following completion of the subscription, the latter remains to be its 20% owned associated company. (SingTao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 9th, 2011

Celestial Asia Securities (1049 HK) noted a decrease of 16 percent of its share price and a drop of trading volume yesterday and the company is not aware of any reasons for such movements. Its future share placing is still on the way according to plan. (Hong Kong Economic Times A15)

China Merchants Holdings (144 HK) notes that as demand in the shipping industry softened in the second quarter for cyclical reasons, it forecast its ports to record throughput growth of around 10 percent this year. (Hong Kong Economic Times A14)

China Overseas Land and Investment (688 HK) said the company realized contract sales amounting to HK$12.13 billion in May 2011, with a sales area of 618,000 square meters. (Hong Kong Economic Times A15)

Daisho Microline Holdings (567 HK) says it may record a net loss for the 6 months ended 31 March 2011, which may reduce its net profit of about HK$19 million for the 6 months ended 30 September 2010. (SingTao Daily B4)

Emperor Capital (717 HK) expects the mobile trading platform through Android will roll out in Q3. (SingTao Daily B6)

Giordano (709 HK) noted that it has not made contact with its shareholder Chow Tai Fook concerning possible acquisition of equity interests in Giordano. (Hong Kong Economic Times A15)

Huscoke Resources Holdings (704 HK) has entered into a provisional agreement to dispose of Units No: 4203-04, Far East Finance Center, 16 Harcourt Road, Admiralty at a consideration of HK$178,164,000. (SingTao Daily B4)

Minmetals Land (230 HK) reported Jan-May contracted sales of RMB2.1b, up over 4x yoy. (SingTao Daily B6)

PCCW Limited (8 HK) proposed a spin-off by way of a separate listing of a business trust on the main board of the HK Stock Exchange. The expected proceeds from this spin-off will amount to US$1.2 billion-US$2 billion. (Hong Kong Economic Journal P4)

Skyworth Digital Holdings (751 HK) will invest RMB2.5b to increase its production of refrigerators, washing machines and LCD TVs in Lishui, Nanjing. Its flat panel TV sales volume booked a yoy growth of 19% in May 2011. (SingTao Daily B5)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 8th, 2011

Boshiwa International (1698 HK) saw a good performance for the sales in May 2011. The sales increased by over 50 percent, staying in line with whole-year growth target. No selling prices changes will be made for the future. (Hong Kong Economic Times A12)

China Resources Power (836 HK) notes that after price increases in electricity for commercial and agricultural uses in China, the company is expected to record an extra income of RMB500 million to offset the pressure brought by fuel costs. (Hong Kong Economic Journal P12)

Easyknit Enterprises Holdings (616 HK) announces that its audited final results for the year ended 31 March 2011 are expected to record a profit as compared to a loss for the corresponding year ended 31 March 2010. (SingTao Daily B4)

Guangdong Tannery (1058 HK) announces that its interim results is expected to decline significantly due to a substantial increase in the cost of raw materials. The net profit is likely to be much lower or it may result in a net loss. (SingTao Daily B4)

Inno-Tech Holdings (8202 HK) places 316,000,000 new shares at a price of HK$0.031 per placing share. (SingTao Daily B4)

Lippo (226 HK) will focus its investment opportunities in Mainland China and Singapore over the next few years. The company will continue to develop its integrated model for property projects in Zhejiang. The DBS Tower Phase 1 & 2 and OUE Bayfront in Singapore are ready for rent. (Hong Kong Economic Journal P12)

Longrun Tea Group Company (2898 HK) expects to record a net profit for the year ended 31 March 2011 as compared to the net loss for the corresponding period in 2010. (SingTao Daily B4)

Pak Tak International (2668 HK) anticipates the profit to be recorded for the financial year ended 31 March 2011 will decrease substantially, mainly attributable to factors such as the increase in operating costs. (SingTao Daily B4)

Tencent (700 HK) plans to invest in a yuan fund started by Innovation Works, an incubation fund founded by Google China's former head Kai-Fu Lee. (Hong Kong Economic Times A12)

Top Spring International (3688 HK) sets its property turnovers targeting at HK$6 billion, representing a growth compared with the HK$5.1 billion last year. (Hong Kong Economic Times A12)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 7th, 2011

Anxin-China Holdings (1149 HK) expects it will record profits for the six months ended 30 June and achieve significant growth when compared with the same period in 2010. (SingTao Daily B4)

BYD Company (1211 HK) has received a formal written approval from CSRC for an A share issue. The A share issue will comprise the allotment and issue of not more than 79,000,000 A shares. The lead underwriters will conduct preliminary price consultation with qualified institutions that are recognised under PRC laws from 9-16 June in the PRC. (SingTao Daily B4)

Celestial Asia Securities (1049 HK) has been entered into an agreement with CASH Financial Services in relation to a placing of 208,000,000 shares at HK$0.51 per share. (SingTao Daily B4)

International Elite (1328 HK) expects that its net profit for the six months ending 30 June 2011 may experience a significant increase, mainly attributable to a potential gain on the revaluation of the purchase consideration payables for the acquisition of the Sunward Group upon the issuance of the convertible notes in May. (SingTao Daily B4)

International Entertainment (1009 HK) expects that there would be a significant increase in its profit for the year ended 31 March. (SingTao Daily B4)

KTP Holdings (645 HK) expects to record a significant decrease in the net profit attributable to shareholders for the year ended 31st March 2011 as compared to the year ended 31st March 2010. (Hong Kong Economic Journal P28)

NagaCorp (3918 HK) booked net profit of US$21.6 million for the four months ended 30 April. (SingTao Daily B4)

Upbest Group (335 HK) has entered into a JV agreement to form a project company with a Hong Kong partner and PRC partners, which will carry out a property project in Quanzhou, Fujian Province, the PRC. (SingTao Daily B4)

Xinyi Glass Holdings (868 HKhas submitted a listing application form (Form A1) to the Stock Exchange for the listing of, and permission to deal in, the Xinyi Solar shares in issue and to be issued under a global offering on the Main Board. (SingTao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 2nd, 2011

Dragon Crown Group Holdings (935 HK) closed its retail book yesterday. Sources closed to underwriters say the company will list on the bourse in October as scheduled despite previous misstating of its EPS. (Hong Kong Economic Journal 8)

Emperor Capital (717 HK) plans to raise around HK$578 million through rights issue at the subscription price of HK$0.338 per rights share on the basis of two rights shares for every one existing share. (Sing Tao Daily B4)

Eternity Investment (764 HK) agreed to buy a target company at HK$267.6 million. The target company has a property situated in The Grande Building, Kwun Tong Rd. Kowloon, Hong Kong. (Sing Tao Daily B4)

Franshion Properties (817 HK) agreed to sell the entire equity interest in Shanghai Chentuo Property at a consideration of around RMB933 million to Baogang Resource. (Sing Tao Daily B4)

Global Bio-Chem Technology (809 HK) hopes to see a substantial increase in its profits for the first four months in 2011, which is due to the improvement in daily operation and cash flow. The company has no need of debt financing for the time being. (Sing Tao Daily B5)

Kaisa Group (1638 HK) announced that the company’s contract sales in May 2011 amounted to RMB970 million, representing an annual growth of over 55 percent. (Sing Tao Daily B4)

King Stone Energy Group (663 HK) will form a joint venture by establishing a limited company in the PRC, a fund management co., with CITIC Trust and Shanxi Mineral. The company’s equity interest in the fund management co. will be 45%. (Hong Kong Economic Journal 28)

PCCW Limited (8 HK) announces that the Stock Exchange has approved its proposal to spin off its telecommunications business by way of a listing of a business trust on the main board. (Hong Kong Economic Journal 28)

Resourcehouse (394 HK) closed its retail book yesterday. Sources say its retail tranche is undersubscribed owing to factors such as market volatility. (Hong Kong Economic Journal 8)

Samsonite International’s (1910 HK) offer price ranges between 13.5-17.5 per share. Maximum offer price a lot of 300 shares amounts to 5302.92. (Hong Kong Economic Journal 8)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap June 1st, 2011

China Sanjiang Fine Chemicals (2198 HK) has entered into Memorandum of Understanding with the Management Committee of Haiyan Economic Development Zone of Zhejiang Province, PRC. The two sides have reached an agreement concerning the company’s future investment project in Haiyan Economic Development Zone of Zhejiang Province, PRC. (Sing Tao Daily B2)

Chongqing Rural Commercial Bank (3618 HK) announces that its total loans and advances to customers saw an increase of around RMB6,956 million or 5.69%. (Hong Kong Economic Times A11)

Global Bio-Chem Technology Group (809 HK) notes that the company is expected to record earnings growth for the six months ended 30 June 2011 due to the increases in the sales volume, the average selling price and gross profit margin of the company’s downstream products. (Sing Tao Daily B2)

Intime Department Store (Group) Company (1833 HK) agreed to invest not more than RMB300 million into Zhejiang Fuqiang and Hangzhou Intime for the construction and development of the department store property of the Chengxi Project. (Sing Tao Daily B2)

Hong Kong Resources (2882 HK) released that its net profit for the year ended 31 March 2011 amounted to HK$30 million, or down 86 percent year-on-year. No dividend is announced. (Sing Tao Daily B2)

Huaneng Power International (902 HK) says, as a result of an adjustment of on-grid tariff, the estimated on-grid tariff for its generation units in 2011 will be increased by RMB0.93 cent/kWh. The company has received the Notice from National Development and Reform Commission on Relevant Issues regarding Proper Adjustment of Electricity Tariff, stating that the State has decided to make proper adjustment to electricity tariff in order to partially make up for the costs incurred by thermal power generation enterprises due to increase in thermal coal prices, and to reduce the difficulties that power generation enterprises have in operation and ensure normal and reasonable power supply. (Hong Kong Economic Journal 6)

Shenguan (829 HK) agreed to buy the entire equity interests in Wuzhou Xiansheng at the consideration of RMB372 million. (Sing Tao Daily B2)

SOHO China (410 HK) announces a proposed acquisition of land located at Sichuan North Road Station on Subway Line 10, Hongkou District, Shanghai at an aggregate consideration of RMB1.5 billion. (Hong Kong Economic Journal 4)

The Link Management’s (823 HK) distributable income rose 15.2% from a year ago to HK$2,458 million for the financial year ended 31 March 2011. Distribution per unit in total increased by 13.4% year-on-year to HK110.45 cents, which includes final DPU of HK57.59 cents. (Hong Kong Economic Journal 4)

The Grande Holdings (186 HK) announces that an order was granted by the High Court of the Hong Kong Special Administrative Region on 31 May 2011 appointing Fok Hei Yu and Roderick John Sutton, both of FTI Consulting (Hong Kong) Limited, to act as its provisional liquidators. (Hong Kong Economic Times A11)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap May 31st, 2011

IPO: Newton Resources, an iron-ore mining business of New World Development (0017) and NWS Holdings (0659), plans to restarts its public listing in Hong Kong aiming to raise HK$5.4 billion. (Sing Tao Daily B2)

China Southern Airlines (1055 HK) plans to spend HK$12.3 billion on the purchase of six Boeing B777F freighters. The catalogue price of one Boeing B777F freighters is US$264 million. (Sing Tao Daily B3)

Intime Department Store (Group) (1833 HK) Company announces that a wholly-owned subsidiary Zhejiang Intime has entered into a co-development agreement with Zhejiang Fuqiang and Hangzhou Intime. Zhejiang Intime agreed to make available to Zhejiang Fuqiang and Hangzhou Intime an amount of not more than RMB300,000,000 for the construction and development of the department store property of the Chengxi Project. (Hong Kong Economic Journal 7)

IRICO Group (438 HK) Electronics Company announces an acquisition of 21% equity interest in Jiangsu Yongneng Photovoltaic Technology Company for a total consideration of RMB73,500,000. (Hong Kong Economic Journal 21)

Johnson Electric Holdings (179 HK) announced the company’s net profit for the year ended 31 March 2011 amounted to HK$1.42 billion, or up 1.4x compared with last year. A final dividend of US0.77 cents per share was declared. (Sing Tao Daily B2)

Mongolia Energy Corporation (276 HK) says it is expected that the group may record further loss for the year ended 31 March 2011. (Hong Kong Economic Journal 21)

Ping An Insurance (2318 HK) plans to issue 3-year, 2.25 percent, RMB1.5 billion bonds in Hong Kong. HSBC is appointed as the arranging bank for this bond issuance. (Sing Tao Daily B2)

Silver Base Group Holdings (886 HK) expects to record an increase in profit for the year ended 31 March 2011 as compared with the corresponding period of last year. (Hong Kong Economic Journal 21)

The consolidated profit attributable to owners of Tse Sui Luen Jewellery (International) (417 HK) for the year ended 28 February 2011 was HK$176,118,000. The basic earnings per share was HK$0.84. The company has proposed to declare a final dividend of 12 HK cents per ordinary share. (Hong Kong Economic Times A16)

Vtech (303 HK) announced that the company’s net profit for the year ended 31 March 2011 declined 2.2 percent to US$202 million (around HK$1,576 million). A final dividend of US 62 cents per shares was declared. (Sing Tao Daily B1)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap May 30th, 2011

BYD Electronic (International) (285 HK) plans to purchase the lens business from Huizhou Electronic, a wholly owned subsidiary of BYD, at a consideration of RMB55,430,706. (SingTao Daily B4)

China Railway (390 HK) proposed to issue dedicated private debt financing instruments of an amount at most RMB10 billion. The term of dedicated instruments will not exceed 15 years. (Sing Tao Daily B4)

China Resources Enterprise (291 HK) entered into two facility agreements yesterday with two banks respectively for term loan facilities in the aggregate amount of HK$700,000,000. The terms of the loan facilities are both three years. (SingTao Daily B4)

Convenience Retail Asia (8052 HK) discloses that a controlling shareholder placed 35.9 million shares to independent third parties at HK$3.70 per share yesterday. (SingTao Daily B4)

Total revenue of I.T Limited (999 HK) increased by 28.0% to HK$3,834.4 million for the year ended 28 February 2011. Profit for the year surged 47.8% to HK$388.1 million. Basic earnings per share gained 43.5% to HK33 cents. Final Dividend of HK10.4 cents per share is proposed. (Hong Kong Economic Times A13)

Media Chinese International (685 HK) announced that for the year ended 31 March 2011, the company’s net profit amounted to around US$54.83 million, or up 33 percent against that of last year. (Sing Tao Daily B4)

Tech Pro Technology Development (3823 HK) has entered into a MOU, planning to acquire a business that engaged in the research and production of semi-conductor parts and accessories of lamps; and manufacturing, assembling and processing of LED lightings in the PRC. The consideration will be no more than HK$260 million. (Hong Kong Economic Journal 22)

Towngas China (1083 HK) plans to spend HK$1 billion on its major new projects for development in Hunan Province, Guangxi Province, Yunan Province and Guizhou Province, PRC. The company will build new natural gas pipelines there for further expansion of business in Mainland China. (Sing Tao Daily B3)

Zijin Mining (2899 HK) plans to issue an additional five ordinary shares for each ten ordinary shares held by the shareholders of the company. (Sing Tao Daily B4)

ZTE Corporation (763 HK) plans to dispose of its over 5.5 million shares in Nationz Technologies. Net investment gains before income tax generated from the sale are expected to reach around RMB95 million. (Sing Tao Daily B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard

Hong Kong Stock Market Wrap May 27th, 2011

China Datang (1798 HK) plans to change the use of proceeds from its public offering. The HK$1.5 billion, representing 30 percent of the HK$5 billion raised from proceeds, will be used for investment in Datang Renewable (H.K.) Co., Limited, for its development of domestic and overseas renewable power projects. (Sing Tao Daily B14)

China Everbright International (257 HK) estimates that the company’s capital expenditure for 2011 will amount to around RMB2 billion (HK$2.4 billion) due to the new 15 projects, up from 8 projects last year, put into operation this year. (Sing Tao Daily B13)

Ms. Wan Ho Yan Letty, a substantial shareholder of China Investment Fund (612 HK), disposed of its entire substantial shareholding interest in the company. The disposed shares take up 29.99 percent of the issued share capital of the company. (Sing Tao Daily B14)

China Life Insurance (Overseas) (2628 HK) plans to cut the price of its balanced fund by over 10 percent and introduce special voluntary contributions—SVC to attract more customers. (Hong Kong Economic Times A14)

Evergrande Real Estate (3333 HK) won a parcel of land in Zhejiang Province, China at a consideration of RMB260 million, marking the first step into Zhejiang Province for the company. (Sing Tao Daily B14)

Goldlion Holdings (533 HK) plans to introduce gold standard label stores in Mainland China. The company decides to explore the high-end market by choosing some stores with good performance, promoting their decoration and display styles and putting high-end products on shelves. (Hong Kong Economic Journal P10)

Mongolian Mining (975 HK) expects to see a selling price increase of around 40 percent-50 percent for its coal business as compared with that of raw coal prices. After the company’s new asphalt roads put into operation within this year, transportation costs will decrease. The company’s net profit is expected to increase by around 30 percent. (Sing Tao Daily B13)

Sinopec Kantons (934 HK) has agreed to purchase 50 percent equity interest in Zhanjiang Port Petrochemical Jetty Co. at the consideration of approximately RMB332 million (around HK$400 million). (Sing Tao Daily B13)

China Shenhua Energy Company (1088 HK) announces that a general mandate was granted to the board of directors to, by reference to market conditions and in accordance with needs of the company, to repurchase A shares and H shares not exceeding10% of the number of A shares and H shares in issue. (Hong Kong Economic Journal 19)

China Singyes Solar Technologies Holdings (750 HK) will place 35,000,000 existing shares at a price of HK$6.8 per share to not less than six placees who are professional, and institutional and/or other investors. (Hong Kong Economic Times A10)

Lonking Holdings (3339 HK) will issue US$350 million 8.50% senior notes due 2016. Credit Suisse is the sole global coordinator in respect of the offer and sale of the notes. (Hong Kong Economic Times A10)

Pacific Plywood Holdings (767 HK) has acquired Simsen International shares, which represents around 7.70% of the total issued share capital of Simsen International, at HK$0.20 each with a total consideration of HK$20,000,000. (Hong Kong Economic Journal 19)

Pokfulam Development Company (225 HK) saw net profit climb to HK$292 million for the six months ended 31 March 2011. (Hong Kong Economic Journal 19)

Seamless Green China (Holdings) (8150 HK) announces that a resolution regarding the re-election of Zhao Wen Tao as an executive director was not passed at the AGM. Accordingly, Zhao has retired as an executive director. (Hong Kong Economic Journal 19)

Li Tzar Kai Richard reportedly entered into an agreement on Monday to sell 266,600 shares in the Bank of East Asia (23 HK). (SingTao Daily B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard