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
