China Coal Energy (1898 HK) announces that the Wangjialing Coal Mine, which involved in a flooding accident last year, has passed safety inspection by the relevant local authorities of Linfen City of Shanxi Province. It is expected to resume its construction. (Hong Kong Economic Times A12)
China Resources Cement (133 HK) acquires the entire equity interest in Fujian Zhangping Zhenhong Cement at a consideration of RMB292.0 million. The latter operates a 2500 ton per day clinker production line and 2 cement grinding lines with total annual production capacity of 1.0 million tons in Zhangping Municipality of Fujian Province. (Hong Kong Economic Times A14)
China Resources Gas (1193 HK) announces that it has proposed to privatize Zhengzhou China Resources Gas. (Hong Kong Economic Journal B2)
China State Construction International Holdings Limited (3311 HK) announced for the nine months ended 30 September 2011, the operating profit went up 30.7 pc year-on-year to around HK$1.2 billion. (Singtao Daily B6)
In September, China Unicom’s (762 HK) additions of 3G service subscriptions reached 2.362 million and the number of 3G service subscribers was over 30 million. (Singtao Daily B4)
Datang International Power Generation (991 HK) announces that its total power generation for the first three quarters was 150.9784 billion kWh as of 30 September, up 17.56pc yoy. (Hong Kong Economic Journal B2)
Haier Electronics (1169 HK), along with UK’s Home Retail Group, plans to set up a joint venture HH Retail in China to develop multi-channel general merchandise retailing business under the brand of “Argos”. Haier Electronics expects this JV will come into operation in the next year with an aim of expanding the model of multi-channel retailing business into major regions in China. (Singtao Daily B3)
HSBC (5 HK) German unit HSBC Trinkaus & Burkhardt AG said it has withdrawn from the bidding process for WestLB corporate financing businesses after it could not reach an agreenment on conducting exclusive talks with WestLB regarding this purchase. (Singtao Daily B6)
PICC Property and Casualty Company (2328 HK) announced for the first nine months, its premium income grew 12.03 pc from RMB118, 372 million in the same period last year to RMB132, 609 million.
(Singtao Daily B6)
Sichuan Expressway (107 HK) announces that it has won the tender for the project in connection with the investment in and construction of the Suining-Guang’an Expressway and Suining-Xichong Expressway to be situated in Sichuan Province with a total length of about 162.671km. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
