China Boon Holdings (922 HK) plans to acquire 43.35pc of the entire equity interest of Chongqing Bai Ta Yuan Funeral Services at a consideration of RMB66,800,000. China Boon will inject after the acquisition a sum of RMB30,000,000 in the latter, which will take its shareholding in Chongqing Bai Ta Yuan Funeral Services to 51pc. (SingTao Daily B5)
After 9 months’ suspension, China Coal Energy (1898 HK) released the first three-quarter productive and operational data. Its January-September coal output grew 8 pc to 77.48 million tons and sales rose 13.4 pc to 99.71 million tons. The September production volume declined over 7 pc because of partial suspension of coalmines for inspection and weather factors. (Hong Kong Economic Times A13)
China Overseas Grand Oceans (81 HK) booked turnovers of HK$1,180.1 million and HK$3,234.3 million for the 3 months and 9 months ended 30 September 2011 respectively. Operating profits were HK$720.7 million and HK$2,080.9 million respectively for the relative periods. (SingTao Daily B6)
Chuang’s Consortium International (367) and Chuang’s China Investments (298 HK) both issue a positive profit alert, expecting a substantial yoy rise in profit for the 6 months ended 30 September 2011 mainly on an increase in the revenues and gross profit on sales of properties recognised. (SingTao Daily B6)
The third-quarter same store sales of Daphne International Holdings Limited (210 HK) went up 23 pc. The first three quarter growth rate was 19 pc. Daphne International added up to 461 selling points, including 398 directly managed stores and 63 franchised stores, as of the end of September. (Hong Kong Economic Times A13)
According to a market research agency IDC, Lenovo (992 HK) has ranked as the No.2 PC producer worldwide in the third quarter with around 13.7 pc market share over Dell’s. Sales of Lenovo have outperformed the market for the ninth quarter in a row. (Hong Kong Economic Times A14)
IPO: China’s insurer New China Life Insurance Co. Ltd. plans to kick off its public hearing for the initial public offering this month to further advance its A+H share public listing plan worth of US$4 million, according to Thomson Reuters IFR Markets, the insurer has gained promise from several cornerstone investors for share subscription. (Hong Kong Economic Journal A14)
After a number of directors have resigned over the past few months, Real Gold Mining (246 HK) announces again that Deloitte Touche Tohmatsu resigned as its auditors with effect from 12 October 2011. (SingTao Daily B6)
Stella International Holdings Ltd. (1836 HK) announced its first three-quarter revenue grew 17.2 pc to US$1,138 million, comparing with that of the same period last year, which was mainly benefited from the strong growth in manufacturing and retail operations. (Hong Kong Economic Times A13)
Walker Group Holdings (1386 HK) shares have been dropping since it issued a profit warning last week. The company says a substanital shareholder has informed that he plans to decrease its stake in the company.
(SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
