Tuesday, September 27, 2011

Hong Kong Stock Market Wrap Sept. 26th, 2011

Chaoda modern (682 HK) suspension of trade after plunged 27% As the company is in the investigation about announcing false information, the company stock plunged 27% in the morning yesterday and required suspension of trade in the afternoon. (Hong Kong Economic Times A13)

China Financial International Investments (721 HK) booked a profit attributable to equity shareholders of HK$36.93 million for the year ended 30 June 2011; a 33.66pc rise. It did not recommend the payment of a dividend. (SingTao Daily B5)

China Yurun Food (1068 HK) has announced that the expectation of the profit in the 3rd and 4th season would decrease. This caused the company’s shares to drop 31%, closing price at 7.51 HKD yesterday. (Hong Kong Economic Times A13)

On 29 August, Hong Kong SFC directed the Stock Exchange to suspend the shares of Greenheart (94 HK). The company announced yesterday that the concession licence of Greenheart was approved to renew for further 10 years from 29 March 2011 on 2 September 2011. (Hong Kong Economic Journal A6)

Guangzhou R&F properties co., Ltd (2777 HK) announced to decrease 20% of the year sales target from RMB40 billion to RMB32 billion. (Hong Kong Economic Journal A10)

Hongguo International (1028 HK) saw its profit attributable to owners from continuing operations soar to RMB130.6 million for the 6 months ended 30 June 2011. Gross profit margin was 62.3pc, up 7.3 percentage points. The company did not recommend the payment of an interim dividend. (SingTao Daily B4)

Melco international development (200 HK) is going to have a listing hearing for its company, Melco Crown Entertainment Limited, this Thursday on September 29. The capital formation will be between HKD2.34 billion and HKD3.9 billion. (Hong Kong Economic Times A12)

Shanghai Tonva Petrochemical (8251 HK) has signed a relocation compensation agreement with the Nantong Project Conversion Construction Unit, to receive an aggregate of RMB64,080,000 as relocation compensation for relocation of its plants. (SingTao Daily B5)

South Sea Petroleum (76 HK) announces that Moderation has entered into an agreement with other shareholders to repurchase 80.6pc shares from them and to cancel the shares. The company, after the deal, will become its wholly owned subsidiary. (SingTao Daily B5)

TCL Multimedia Technology (1070 HK) says it is expected to turnaround to profit for the 3 months and 9 months ended 30 September 2011. The shares fell 1.74pc to HK$2.26 each yesterday. (SingTao Daily B2)

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