Due to expansion of business in a rapid manner and management of expense rise in the first half of 2011, Belle International Holdings Ltd. (1880 HK) recorded the profit attributable to the shareholders up 29 percent to RMB2.01 billion. An interim dividend of RMB7 cents per share was announced. The company planned to deliver low-end footwear, middle and high-end men footwear and children’s category over the next 3-5 years.
(SingTao Daily B3)
For the six months ended June 30, 2011, China Resources Enterprise (291 HK) reported its net profit decreased by 63 percent year-on-year to HK$1,569 million. Its core businesses excluding the after-tax effect of asset revaluation increased by 18 percent. The company announced an interim dividend of HK15 cents per ordinary share. (SingTao Daily B3)
Industrial and Commercial Bank of China (1398 HK) announced that for the first half of 2011, its net profit amounted to RMB109.48 billion, surging 29.4 percent. No interim dividend was announced. (SingTao Daily B2)
JF Household Furnishings (776 HK) was notified by its controlling shareholder Bounty Wealth that it placed a maximum of 2,945,000 shares of the company after trading hours on 19 August. (Hong Kong Economic Journal 26)
Kazakhmys (847 HK) intends to start a buyback programme to buy up to US$250 million of its ordinary shares listed on the London Stock Exchange. (Hong Kong Economic Journal 26)
Li Ning (2331 HK) plans to spend RMB285 million to repurchase inventory from distributors and offer clearance sales through more factory outlets to be opened this year.
(SingTao Daily B6)
Renhe Commercial (1387 HK) recorded a 1H profit attributable to shareholders of RMB605.0 million, a yoy jump of about 357.6%. As at the end of 24 August, its GFA under management went up 78% yoy to roughly 1.34 million sq.m. (Hong Kong Economic Times A12)
Shandong Chenming Paper (1812 HK) recorded RMB484 million of net profit for the first half of 2011, down 20.45 percent year-on-year. The company maintained no payment of dividends. (SingTao Daily B6)
Sinopharm Group’s (1099 HK) 1H profit attributable to equity holders amounted to RMB784 million, advancing 23%. Its gross profit margins fell 0.11%
to 8.17%. (Hong Kong Economic Times A12)
SOHO China (410 HK) realized an interim net profit attributable to equity shareholders of RMB1,750 million, gaining 2% yoy. The firm declared an interim dividend of RMB0.14 a share. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
