Monday, October 10, 2011

Hong Kong Stock Market Wrap Oct. 7th, 2011

Chanco International Group (264 HK) forecasts that for the six months ended 30 September 2011, its net profit may record losses compared with the net profit of HK$1.4 million for the same period last year. Losses are mainly due to the significant decrease in sales and profit margin caused by reduction of orders from overseas. (Singtao Daily B14)

After S& P downgraded the credit rating of Chaoda Modern (682 HK), Moody’s cut the company’s credit rating from Ba2 to Ba3. (Hong Kong Economic Journal A4)

Epicurean (8213 HK) and Company proposes to raise HK$32.9 million proceeds through rights issue of one rights share of HK 6 cents per rights share for every two existing shares of the company. (Singtao Daily B14)

ICube Technology Holdings Limited (139 HK) forecasts that the results of the company may record a substantial loss for the six months ended 30 September 2011, which is mainly due to an unrealized loss on the fair value changes on the listed securities of the company. (Singtao Daily B14)

MTR (66 HK) announced that CDC Corporation has filed for bankruptcy protection on 4 October 2011. The MTR Chairman, Dr. Raymond Ch’ien Kuo-fung, has resigned as the chairman and non-executive director of CDC on 3 October 2011. (Hong Kong Economic Journal A4)

China Environmental Energy Investment (986 HK) announces that the placing agent places on a best effort basis convertible notes up to an aggregate principal amount of HK$110,000,000. (Hong Kong Economic Journal B2)

China Longyuan Power Group (916 HK) announces that, according to preliminary statistics, its power generation for September on consolidated basis amounted to 1,989,200MWh, up 31.40% yoy. As at 30 September 2011, its total power generation for 2011 amounted to 18,582,170MWh, advancing 21.56% yoy. (Hong Kong Economic Times A16)

China Metal International (319 HK) announces that Ho Ming-Shiann has tendered his resignation as its chairman and executive director. Ho was convicted and sentenced to 6 months imprisonment, which can be commuted to a fine in lieu of imprisonment. (SingTao Daily B12)

Intime Department Store (Group) (1833 HK) announces that its total sales for the 9 months ended 30 September 2011 rose 37.7% yoy to RMB 7.805 billion. Same store sales surged 28.0% yoy to RMB 7.207 billion. (Hong Kong Economic Journal B2)

SIM Technology Group (2000 HK) announces that its unaudited monthly revenue for September is around HK$226.8 million and its unaudited revenue for the 9 months ended 30 September 2011 is roughly HK$1,867.8 million. (Hong Kong Economic Journal B2)

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