Tuesday, July 5, 2011

Hong Kong Stock Market Wrap July 4th, 2011

Asia Cassa Va Resources (841 HK) announced that for the year ended March 31 2011, the company’s net profit decreased by 18 percent to HK$82,71 million. Its annual revenue went up by 1 percent. (Hong Kong Economic Times A10)

Bel Global Resources (761 HK) says there will be a delay in the publication of its annual results announcement. As it requires additional time to gather further information for auditors to perform and complete audit procedures, it is expected that the announcement will have to be delayed to on or before 29 July. (SingTao Daily B2)

Sources report that China Eastern Airlines (670 HK) plans to issue dim sum bonds in Hong Kong with a maximum size of up to RMB8 billion. (Hong Kong Economic Times A10)

Intime Department Store Ltd (1833 HK) announced that for the six months ended 30 June 2011, the company recorded sales revenue up to RMB5.44 billion, or up 38.8 percent year-on-year. Its same store sales went up by 28.4 percent. (Hong Kong Economic Times A10)

Jingwei Textile Machinery Company (350 HK) estimates its profit for the first half of 2011 to increase by 825% to 996% as compared to the same period last year. (SingTao Daily B2)

Ngai Lik Industrial (332 HK) suffered from a loss of HK$104 million for the year ended 31 March. It did not recommend the payment of a final dividend. (SingTao Daily B4)

Nine Dragons Paper (2689 HK) has entered into a Loan agreement of RMB1 billion with China Development Bank. The proceeds from this will be applied for repaying existing loans and business operation. (Hong Kong Economic Journal P6)

Shimao Property (813 HK) announced for the six months ended June 30, 2011, the company realized contract sales of RMB14,252 million, or up 26 percent contrasted with the same period last year. The contract sales area amounted to 1.093 million square meters. (Hong Kong Economic Journal P6)

Sino-Tech International (724 HK) says although it is expected to record a loss for the six months ended 30 June due to factors such as the operating loss on the electronic products segment, it considers its financial position remains satisfactory. (SingTao Daily B2)

Zijin Mining Group (2899 HK) announces that its subsidiaries Xinyi Zijin Mining and Xinyi Baoyuan Mining have recently received notices of response to proceedings issued by the Guangdong Province Xinyi City People’s Court, notifying them that the People’s Court has determined that it will hear the proceedings commenced by Xinyi City Qianpai Town Qingyuan water supply plant and 310 villagers against defendants including Xinyi Zijin and Xinyi Baoyuan in relation to a claim of compensation for loss of property. (SingTao Daily B2)

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