Wednesday, September 28, 2011

Hong Kong Stock Market Wrap Sept. 27th, 2011

China National Materials (1893 HK) establishes with its parent a JV Sinoma Finance with a registered capital of RMB500 million. The registered capital will be owned as to 30% by it. (SingTao Daily B7)

EPRO Limited (8086 HK) registered a profit attributable to equity holders of around HK$71,450,000 or HK2.32 cents a share for the year ended 30 June 2011, recommending the payment of a final dividend of HK1.15 cents a share. (SingTao Daily B7)

Freeman Financial (279 HK) announces that it is in the final stages of discussions with another party pertaining to potential strategic investments. It may undergo a capital reorgansation as well. (SingTao Daily B7)

Market sources say Greentown China (3900 HK) has lowered its full-year contracted sales target from RMB55 billion to RMB40 billion, a decrease of 27pc. (SingTao Daily B7)

Lenovo Group (992 HK) announced that they invested about USD150 million to establish a joint venture company to manufacture products with Compal, a company in Taiwan. Such news had made Lenovo shares price soar 11.2% to 4.96 dollars yesterday. (Hong Kong Economic Times A12)

The annual results ended by June of New World (825 HK) shows the net profit had rise 48.1% year-on-year. The dividend will be 6.5cents per share and 1 cent as special dividend. The company shares price had rise 3.7% to 4.5 dollars yesterday. (Hong Kong Economic Times A12)

Renhe Commercial (1387 HK) announced the project in Shenyang had brought around one billion RMB income and there will be more sales in the future. (Hong Kong Economic Journal A5)

The subsidiary company of Sino Truk (Hong Kong) Limited (3808 HK) had 500 million RMB deposits in a bank which involved in a financial note forgery case. The deposits had been withdrawn in accordance with the laws.(Hong Kong Economic Journal A5)

Tenfu (Cayman) Holdings (6868 HK) posted a profit attributable to owners of roughly RMB153.1 million for the 6 months ended 30 June 2011. No interim dividend was declared. (SingTao Daily B7)

Yanzhou (1171 HK) announced they had signed a share sale agreement to purchased 100% equity interests of both Wesfarmers Premier Coal and Wesfarmers Char for approximately 1,863 million RMB yesterday. (Hong Kong Economic Journal A3)

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