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
