Tuesday, July 26, 2011

Hong Kong Stock Market Wrap July 25th, 2011

China Aoyuan Property (3883 HK) says it is expected that its net profit for the 6 months ended 30 June 2011 will record a substantial growth as compared with that for the corresponding period last year, mainly attributable to a rise in the average selling price and gross profit margin in the properties delivered. (Hong Kong Economic Times A10)

China Public Procurement (1094 HK) announces that it will acquire the Wuhan EMC Project from Guocai Science & Technology for a consideration of HK$30 million. (Hong Kong Economic Journal 21)

China SCE Property (1966 HK) announced it has won a bid for a piece of land in Xiamen, Fujian Province, China at a consideration of RMB318 million. The piece of land, with a total area of around 43,400 square meters, is located in Jimei District, Xiamen. The construction work is expected to start in 4Q. (SingTao Daily B2)

CK Life Sciences Int’l (775 HK). registered profit attributable to shareholders of HK$82 million, a 69% increase over the corresponding period last year. Turnover was HK$1,720 million, a rise of about 30%. It has not declared any interim dividend. (Hong Kong Economic Times A10)

CNOOC Limited (883 HK) announced that BoZhong 28-2 South oilfields, which suspended operation in April due to a malfunction occurred on the Single Point Mooring System, has resumed production. The production capacity of the oil fields has recovered to the level before the incident, reaching about 39,000 barrels of oil per day. (SingTao Daily B2)

GCL-Poly Energy (3800 HK) announced that for the six months ended June 30 2011, the company’s net profit is expected to increase by 300 percent to reach HK$787,635,000. Such an expected increase in profit is mainly due to the growth in the sales revenue, production volume of polysilicon and wafer as well as the sales of wafer. (SingTao Daily B2)

G-Resources Group Ltd (1051 HK) announced that an increase to the resource base at Martabe at the Purnama Timur Zone. The Purnama Timur Mineral Resource contains an estimated 233,000 Oz of Au and 2,110,000 Oz of Ag. (SingTao Daily B2)

PCCW (8 HK), along with Taiwan's Chunghwa Yellow Pages, Shanghai Bell Atlantic Yellow Pages and Directel Macau, announced the signing of a cross-strait Memorandum of Understanding to form a strategic alliance to promote Yellow Pages business in the Greater China region. The four companies will jointly promote various yellow page media platform across the strait. (SingTao Daily B2)

Xiamen International Port (3378 HK) announces that it has entered into a framework agreement, planning to purchase 25% of the equity interest in Xiamen Songyu Container Terminal. (Hong Kong Economic Journal 6)

Zijin Mining (2899 HK) announces that its subsidiary Luminous Gold has entered into an agreement in relation to a proposed acquisition of an aggregate of 138,350,000 shares of ASX-listed Norton Gold. The total consideration is around RMB193,158,736. The group, after the deal, will be beneficially interested in about 16.98% of the enlarged issued shares of Norton Gold. (Hong Kong Economic Journal 21)

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