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
