361 Degrees (1361 HK) announced yesterday its quarterly results ended September 30, 2011, the number of retail outlets increased to 7,810 with a total retail area of 784,745 square metres. Its same store sales growth went up 14.1 pc while the channel inventory ratio was 3.8 times. (Singtao Daily B4)
It is reported that Aluminum Corporation of China (2600 HK) plans to list its Peru copper mine assets in HK to raise up to about HK$7.8 billion in the 1H of next year. (Hong Kong Economic Journal A11)
Credit Suisse (2020 HK) lowered its rating on mainland sports product sector from Hold to Underweight. Rating and price target for ANTA Sports Products are cut to underperform and HK$6.8 respectively. (Hong Kong Economic Journal A4)
CM bank (3968 HK) has received an approval from the CBRC. The commission has in principle agreed on the bank’s plan for rights issue of its A and H shares and issued a regulatory letter of opinions. (Hong Kong Economic Journal B1)
Hebei Natural Gas (956 HK), 55 pc and 45 pc respectively owned by China Suntien Green Energy and the Hong Kong and China Gas (003), will tie up with PetroChina (857) and BE Group to set up a joint gas receiving terminal in Tangshan exploring markets in Beijing, Tianjin and Hebei Province. Hebei Natural Gas will contribute RMB520 million cash into this establishment. (Singtao Daily B5)
China Zhongwang (1333 HK) announces a purchase of equipment for production of aluminium flat rolled products from three companies China Machinery, CEIEC and Great Dynasty for a total of US 3.78 billion. (Hong Kong Economic Times A13)
For the third quarter this year, CLP’s (2 HK) energy business outside Hong Kong surged 100 pc to HK$43.8 billion. Such a significant increase was mainly contributed by revenue from the New South Wales (NSW) energy assets acquired in March and a 16.8 pc increase in the average exchange rate of the Australian dollar. CLP maintains a dividend payment of HK$0.52 per share in the third quarter. (Singtao Daily B4)
For the six months ending 30 September this year, Freeman Financial Corporation (279 HK) may record a significant decrease in profit, which is mainly due to the net realized and unrealized losses in investment for trading. (Singtao Daily B5)
IPE Group (929 HK) announces that owing to severe flooding its production factory in Thailand has been closed for the time being since 14 October, saying that at present it is not possible to evaluate the likely impact on its business. (Hong Kong Economic Times A13)
Shenzhen Development Bank Co., Ltd., (2318 HK) a subsidiary of Ping An Insurance (Group), expects the net profit for the third quarter to increase by 70-80 pc up to RMB3, 058 million. Such an increase is partly due to the effect from consolidated financial statements. (Singtao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
