IPO: Sateri International, a privately held producer of the wood-based cellulose used to make textiles in Brazil, plans to raise up to around HK$7.8 billion in Hong Kong initial public offering in the second half of this year, Financial Times reported. Sateri owns plantation in both Brazil and China. The raised capital will be used to enlarge production capability to meet the demand in the emerging market including China. (Hong Kong Economic Times A2)
Angang Steel (347 HK) recorded net profit of around 1.148 billion yuan, surging 573 times year-on-year in the first quarter. Earnings per share were 0.159 yuan. The company expected that interim results ended June 2010 will return to the black. (Sing Tao Daily B2)
ASM Pacific Technology (522 HK) posted net profit of HK$466 million in the first quarter. Earnings per share were HK$1.18. The company expected continuous growth in the second quarter. Director Lee Wai Kwong said the company may revise its 2010 US$500 million capital spending plan to enhance capacity and R&D ability. (Sing Tao Daily B2)
China COSCO (1919 HK) earned 882 million yuan in the first quarter of the year, compared to a loss of HK$3.3 billion for the same period last year. Earnings per share were 9 fen. Earnings mainly came from dry bulk shipping business. (Sing Tao Daily B4)
China Shenhua Energy (1088 HK) posted earnings of 9.244 billion yuan in the first quarter, up almost 17 per cent. Turnover grew almost 21 per cent to 32.8 billion yuan. The company said government imposed stricter supervision policy on coal enterprises, which might lead to temporary production limitation in some coal mines. (Sing Tao Daily B4)
NET FALLS 68% IN Q1 DUE TO HIGH COST ON 3G OPERATION China Unicom (762 HK) posted first-quarter net profit of 1.129 billion yuan, down 68 per cent, due to expanding network and high cost on 3G operation. Earnings per share were 5 fen, below expectations. Revenue rose 6.6 per cent year-on-year to 40.415 billion yuan. (Sing Tao Daily B2)
China Zhongwang (1333 HK) saw turnover grow 37 per cent to 3.82 billion yuan in the first quarter on higher sales volume and average selling prices of industrial aluminum products. Earnings were approximately 1.312 billion yuan, up 65 per cent over the same period last year. (Sing Tao Daily B4)
Rumour said it that CLP Holdings (2 HK) has hired 18 banks to arrange a loan of up to HK$6 billion for refinancing, Bloomberg reported, citing unnamed sources. Interest rate of the five-year loan will be 70 points higher than Hong Kong interbank rate. (Hong Kong Economic Journal P4)
China Merchants Holdings (144 HK) announced that its subsidiary, CM Vietnam, will establish a joint venture with BSPD and PVSB to construct and operate the Vu Vung Tau International Container Port (including a modern warehouse and logistics park) located in Southern Economic Focal Zone, Vietnam. The company will hold 49 per cent stake in the joint venture. (Hong Kong Economic Journal P4)
Q1 PROFIT UP 1.8% China Oilfield Services (2883 HK) said profit rose 1.8 per cent to 977 million yuan for the first quarter this year. The company said ship team’s working days of its main business, oil drilling, increased 8.6 per cent to 2,115 days, while the working days of ship service rose 5.3 per cent to 6,580 days. (Hong Kong Economic Times A14)
Datang International Power (991 HK) said first-quarter profit slumped 57 per cent to 15.536 million yuan, mainly due to the coal cost increase and drought in south western China. Operating cost surged 75 per cent in the first quarter. China Electricity Council said the constant drought in the southwestern China will face a whole-industry loss if the coal price keeps going up in the second quarter. (Hong Kong Economic Times A14)
Dongfang Electric Corporation (1072 HK) said decreasing cost boosted profit to rise 57.46 per cent to 471 million yuan in the first quarter of this year. The company said though the first-quarter income fell 4.2 per cent to 6.919 billion yuan, operating margin still managed to grow 4.5 percentage points to 19.07 per cent as the decline of cost is more than that of income. In addition, the capital of new orders the company received in the first quarter amounted to 8.7 billion yuan. (Hong Kong Economic Times A14)
Global Green Tech (274 HK) reported net loss of around HK$269 million for the year 2009. Loss per share was 13.78 HK cents. No dividend was declared. Auditor mentioned in its report that there exists material uncertainty, which may cast significant doubt about the Group’s ability to continue as a going concern. (Sing Tao Daily B2)
Industrial and Commercial Bank of China (1398 HK) posted a profit of 41.547 billion yuan in the first quarter, up 18.19 per cent year-on-year, as interest-generating asset increase boosted card business and net service fees as well as commission income rose nearly 35 per cent to around 18.13 billion yuan. The result is in line with expectations of the market, the paper said. The bank said its non-performing loan ratio was 1.35 per cent, a drop of 0.19-percentage point from Dec. 31. (Hong Kong Economic Journal P1)
Ping An Insurance (2318 HK) saw first-quarter earnings jump 90 per cent year-on-year to 4.617 billion yuan. Total income was 53.6 billion yuan, up 48 per cent. Earnings per share were 0.62 yuan, up almost 94 per cent. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, April 30, 2010
Thursday, April 29, 2010
Hong Kong Stock Market Wrap April 28th, 2010
Cheung Kong Infrastructure Holdings (1038 HK) said it has acquired 50 per cent stake in Seabank, a natural gas power plant BG Energy, from BG Energy. The deal price was HK$2.5 billion. In addition, the company’s unit plans to buy a stake up to 8.2 per cent in Enviro Energy (8182) with no more than HK$176 million over the coming three years, according to the Enviro’s filing. (Sing Tao Daily B2, B3)
China Citic Bank (998 HK) saw earnings increase by 7.69 per cent to 14.319 billion yuan in the year 2009, benefited by a drop in asset impairment loss by 61 per cent. Earnings per share were 0.37 yuan. The bank distributed a dividend of 0.88 yuan for every 10 shares. (Hong Kong Economic Journal P.7)
Q1 PROFIT SURGES 67% China Life (2628 HK) said first-quarter profit increased nearly 67 per cent year-on-year to 10.2 billion yuan, mainly helped by steady growth in insurance business and investment revenue. Driven by the stock rally, the group’s investment revenue grew nearly 57 per cent to 18.3 billion yuan in the first quarter. (Sing Tao Daily B1)
Mengniu Dairy (2319 HK) returned to the black for the year 2009 and earned 1.116 billion yuan. Net cash flow jumped to 2.1 billion yuan. A final dividend of 0.14 yuan per share was declared. Founder Niu Gensheng was shifted to a non-executive position. (Hong Kong Economic Times A13)
China Merchants Bank (3968 HK) said first-quarter net profit soared 40.42 per cent year-on-year to 5.909 billion yuan, as net interest income surged nearly 32 per cent to 12.514 billion yuan and fee-based revenue increased by 39.09 per cent to 2.416 billion yuan. Earnings per share were 0.3 yuan. (Sing Tao Daily B2)
China National Materials (1893 HK) saw total operating income climb 44 per cent to 6.261 billion yuan in the first quarter. Total earnings surged 130 per cent to 369 million yuan. Net profit soared 25 times to 80.16 million yuan. (Hong Kong Economic Journal P.6)
China Petroleum & Chemical Corporation (386 HK) posted a net profit of 15.785 billion yuan for the first quarter this year, up almost 40 per cent year-on-year, as domestic demand grew and production of oil products as well as ehylene increased substantially. Earnings per share were 0.182 yuan. (Sing Tao Daily B2)
China Shipping Container Lines Company Limited (2866 HK) said its net loss for the first quarter narrowed to around 192.7 million yuan, up 84.15 per cent compared with that of last year, as freight revenue and loaded container volume increased significantly. (Sing Tao Daily B2)
China Telecom (728 HK) recorded Q1 net profit of 4.27 billion yuan, down 9.1 per cent year-on-year, meeting expectations. Operating revenues were 52.712 billion yuan, up 3.6 per cent year-on-year. EBITDA before CDMA network capacity lease fees was 22.8 billion yuan, up 2.7 per cent year-on-year. (Hong Kong Economic Journal P.6)
Cnooc Limited (883 HK) said total income for the first quarter this year doubled to 30.49 billion yuan compared with a year ago. Net natural gas and oil production from January to March amounted to 67.3 million barrels, up 31.9 per cent. Oil price surged over 81 per cent to $75.37 per barrel. (Sing Tao Daily B2)
Port operator COSCO Pacific (1199 HK) reported first-quarter net profit of $133 million, up 2.07 times year-on-year, lifted by one-off profit on disposal of equity interest in COSCO Logistics. Excluding the one-off gain, the port operator saw first-quarter core earnings of $48.537 million, up 11.8 per cent year-on-year. The disposal of 50 per cent equity interest of COSCO Logistics generated $84.71 million gain. (Hong Kong Economic Times A13)
Henderson Land Development (12 HK) said the capital value of the group’s property interest amounted to HK$188.1 billion in Hong Kong and mainland China, among which Hong Kong properties account for around 74 per cent. Only the capital of Hong Kong properties held for sale reached HK$16.151 billion. As for the rental business, International Finance Centre is the most valuable property in Hong Kong and World Financial Centre is the most valuable in mainland China. (Sing Tao Daily B2)
Huadian Power (1071 HK) reported Q1 net profit of 77.238 million yuan, down 60 per cent year-on-year due to higher coal price. Operating cost climbed 37.59 per cent year-on-year to 9.713 billion yuan. The company announced yesterday it would buy 84.31 per cent stake in Shandong-based Century Power for 2.36 billion yuan to expand its operating capacity. (Hong Kong Economic Times A13)
Sinopec Shanghai Petrochemical Company (338 HK) said first-quarter profit amounted to 895 million yuan, surging 4.46 times year on year. Earnings per share were 0.124 yuan. (Sing Tao Daily B2)
TCL Communication Technology (2618 HK) returned to the black on the year-on-year basis in the first quarter, earning HK$69.533 million. Net profit dropped around 38 per cent over the final quarter last year on factors including lower mobile sales. Turnover was 1.474 billion, up 1.4 times year-on-year, down 24.8 per cent quarter-on-quarter. (Hong Kong Economic Times A13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Citic Bank (998 HK) saw earnings increase by 7.69 per cent to 14.319 billion yuan in the year 2009, benefited by a drop in asset impairment loss by 61 per cent. Earnings per share were 0.37 yuan. The bank distributed a dividend of 0.88 yuan for every 10 shares. (Hong Kong Economic Journal P.7)
Q1 PROFIT SURGES 67% China Life (2628 HK) said first-quarter profit increased nearly 67 per cent year-on-year to 10.2 billion yuan, mainly helped by steady growth in insurance business and investment revenue. Driven by the stock rally, the group’s investment revenue grew nearly 57 per cent to 18.3 billion yuan in the first quarter. (Sing Tao Daily B1)
Mengniu Dairy (2319 HK) returned to the black for the year 2009 and earned 1.116 billion yuan. Net cash flow jumped to 2.1 billion yuan. A final dividend of 0.14 yuan per share was declared. Founder Niu Gensheng was shifted to a non-executive position. (Hong Kong Economic Times A13)
China Merchants Bank (3968 HK) said first-quarter net profit soared 40.42 per cent year-on-year to 5.909 billion yuan, as net interest income surged nearly 32 per cent to 12.514 billion yuan and fee-based revenue increased by 39.09 per cent to 2.416 billion yuan. Earnings per share were 0.3 yuan. (Sing Tao Daily B2)
China National Materials (1893 HK) saw total operating income climb 44 per cent to 6.261 billion yuan in the first quarter. Total earnings surged 130 per cent to 369 million yuan. Net profit soared 25 times to 80.16 million yuan. (Hong Kong Economic Journal P.6)
China Petroleum & Chemical Corporation (386 HK) posted a net profit of 15.785 billion yuan for the first quarter this year, up almost 40 per cent year-on-year, as domestic demand grew and production of oil products as well as ehylene increased substantially. Earnings per share were 0.182 yuan. (Sing Tao Daily B2)
China Shipping Container Lines Company Limited (2866 HK) said its net loss for the first quarter narrowed to around 192.7 million yuan, up 84.15 per cent compared with that of last year, as freight revenue and loaded container volume increased significantly. (Sing Tao Daily B2)
China Telecom (728 HK) recorded Q1 net profit of 4.27 billion yuan, down 9.1 per cent year-on-year, meeting expectations. Operating revenues were 52.712 billion yuan, up 3.6 per cent year-on-year. EBITDA before CDMA network capacity lease fees was 22.8 billion yuan, up 2.7 per cent year-on-year. (Hong Kong Economic Journal P.6)
Cnooc Limited (883 HK) said total income for the first quarter this year doubled to 30.49 billion yuan compared with a year ago. Net natural gas and oil production from January to March amounted to 67.3 million barrels, up 31.9 per cent. Oil price surged over 81 per cent to $75.37 per barrel. (Sing Tao Daily B2)
Port operator COSCO Pacific (1199 HK) reported first-quarter net profit of $133 million, up 2.07 times year-on-year, lifted by one-off profit on disposal of equity interest in COSCO Logistics. Excluding the one-off gain, the port operator saw first-quarter core earnings of $48.537 million, up 11.8 per cent year-on-year. The disposal of 50 per cent equity interest of COSCO Logistics generated $84.71 million gain. (Hong Kong Economic Times A13)
Henderson Land Development (12 HK) said the capital value of the group’s property interest amounted to HK$188.1 billion in Hong Kong and mainland China, among which Hong Kong properties account for around 74 per cent. Only the capital of Hong Kong properties held for sale reached HK$16.151 billion. As for the rental business, International Finance Centre is the most valuable property in Hong Kong and World Financial Centre is the most valuable in mainland China. (Sing Tao Daily B2)
Huadian Power (1071 HK) reported Q1 net profit of 77.238 million yuan, down 60 per cent year-on-year due to higher coal price. Operating cost climbed 37.59 per cent year-on-year to 9.713 billion yuan. The company announced yesterday it would buy 84.31 per cent stake in Shandong-based Century Power for 2.36 billion yuan to expand its operating capacity. (Hong Kong Economic Times A13)
Sinopec Shanghai Petrochemical Company (338 HK) said first-quarter profit amounted to 895 million yuan, surging 4.46 times year on year. Earnings per share were 0.124 yuan. (Sing Tao Daily B2)
TCL Communication Technology (2618 HK) returned to the black on the year-on-year basis in the first quarter, earning HK$69.533 million. Net profit dropped around 38 per cent over the final quarter last year on factors including lower mobile sales. Turnover was 1.474 billion, up 1.4 times year-on-year, down 24.8 per cent quarter-on-quarter. (Hong Kong Economic Times A13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, April 28, 2010
Hong Kong Stock Market Wrap April 27th, 2010
Anhui Conch (914 HK) posted earnings of approximately 792 million yuan for the first quarter of the year, up almost 94 per cent year-on-year. Turnover reached around 6.07 billion yuan. Gain per share was 45 fen. (Sing Tao Daily B2)
Bank of China (3988 HK) earned as much as 26.23 billion yuan in the first quarter of the year, surging 41.25 per cent, slightly higher than expectations. Earnings per share were 10 fen. Net interest income reached 44.506 billion yuan, up 20.82 per cent. Net interest margin was 2.04 per cent, down 10 percentage point over the same period last year. (Sing Tao Daily B2)
BOC Hong Kong (2388 HK) posted an unaudited operating profit before impairment allowances climbed to HK$4.171 million, up 4.25 per cent compared with that of same period last year, due to higher fee income from loans and stock broking despite a drop in net interest income under the low interest rate environment. Net operating income before impairment charges rose 7.57 per cent from a year earlier. (Hong Kong Economic Journal P6)
China Unicom (762 HK) may cut the minimum package price for 3G to 36 yuan from 66 yuan, according to mainland newspapers. Meantime, the paper said it will also cut the minimum monthly service price with iPhone to 96 yuan from 126 yuan, which will make newly-bought iPhone 1,000 yuan cheaper than before. (Hong Kong Economic Times A12)
SALES TARGET 100B YUAN BY 2012 Amid mainland high-railway net work construction wave, China South Locomotive & Rolling Stock Corporation (1766 HK) expects sales to rose 1.2 times to 100 billion yuan by 2012 and portion of overseas business to increase to up to 20 per cent, according to its CEO.
(Hong Kong Economic Times A12)
Chow Sang Sang Holdings (116 HK) announced yesterday that it will place up to 75 million existing shares at a price of HK$13.3 per share, a discount of approximately 10 per cent to the closing price of HK$14.78 right before the suspension of trading on Hong Kong bourse. The company will resume trading today. (Hong Kong Economic Journal P6)
CNR Holdings (2889 HK) recorded a loss of 332 million yuan for the year 2009, sinking into the red. Loss per share was 0.159 yuan. No dividend was declared. (Sing Tao Daily B2)
Dynamic Energy (578 HK) saw net profit slightly above HK$46 million for the full-year of 2009, down 83 per cent year-on-year. Earnings per share were 2.57 HK cents. No dividend was declared. The company plans to issue HK$1.2 billion convertible bonds. (Sing Tao Daily B2)
Lansen Pharmaceutical (503 HK) said it is planning to develop immune medicine for rheumatism for mainland China market and expand it as its main business, according to its CEO. The company will look for acquisition target actively in the future, he said. (Hong Kong Economic Journal P8)
Sany International (631 HK) recorded net profit of 490 million yuan for the year 2009, up almost 1.6 times year-on-year. Basic earnings per share amounted to 0.32 yuan. A final dividend of 6 HK cents per share was paid. (Sing Tao Daily B2)
Sichuan Expressway (107 HK) posted an unaudited profit of 294 million yuan for the first quarter this year, up 67.4 per cent year on year, as its sales income increased 22 per cent year on year and cost went down. (Hong Kong Economic Times A12)
Shanghai Zendai (755 HK) announced yesterday that it would set up a joint venture with companies including its second largest shareholder Shanghai Forte Land (2337) and Greentown (3900) to develop large projects in Shanghai. The company and Shanghai Forte Land will own the joint venture as to 50% and 30% respectively. The registered capital of the joint venture will be 1 billion yuan. (Sing Tao Daily B3)
SMIC (981 HK) saw turnover for the year 2009 drop almost 21 per cent to around HK$8.3 billion. Sales cost and administrative fees jumped 56 per cent and 2.6 times respectively. The company lost approximately HK$7.5 billion, up 1.2 times year-on-year. Loss per share was 4 US cents. (Sing Tao Daily B4)
Weichai Power (2338 HK) posted net profit of 3.4 billion yuan for the full-year of 2009, up almost 77 per cent year-on-year. A final dividend of 0.48 yuan per share was recommended. As economy recovers, the company saw earnings climb almost 3.5 times to approximately 1.62 billion yuan in the first quarter of 2010. (Sing Tao Daily B3)
Wheelock & Co. (20 HK), the Hong Kong-based company that controls two of the city’s biggest shopping malls through a unit, offered to pay HK$6.9048 billion to buy Wheelock Properties Ltd. Shares it doesn’t already own. Price per share will be HK$13, higher than expected. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bank of China (3988 HK) earned as much as 26.23 billion yuan in the first quarter of the year, surging 41.25 per cent, slightly higher than expectations. Earnings per share were 10 fen. Net interest income reached 44.506 billion yuan, up 20.82 per cent. Net interest margin was 2.04 per cent, down 10 percentage point over the same period last year. (Sing Tao Daily B2)
BOC Hong Kong (2388 HK) posted an unaudited operating profit before impairment allowances climbed to HK$4.171 million, up 4.25 per cent compared with that of same period last year, due to higher fee income from loans and stock broking despite a drop in net interest income under the low interest rate environment. Net operating income before impairment charges rose 7.57 per cent from a year earlier. (Hong Kong Economic Journal P6)
China Unicom (762 HK) may cut the minimum package price for 3G to 36 yuan from 66 yuan, according to mainland newspapers. Meantime, the paper said it will also cut the minimum monthly service price with iPhone to 96 yuan from 126 yuan, which will make newly-bought iPhone 1,000 yuan cheaper than before. (Hong Kong Economic Times A12)
SALES TARGET 100B YUAN BY 2012 Amid mainland high-railway net work construction wave, China South Locomotive & Rolling Stock Corporation (1766 HK) expects sales to rose 1.2 times to 100 billion yuan by 2012 and portion of overseas business to increase to up to 20 per cent, according to its CEO.
(Hong Kong Economic Times A12)
Chow Sang Sang Holdings (116 HK) announced yesterday that it will place up to 75 million existing shares at a price of HK$13.3 per share, a discount of approximately 10 per cent to the closing price of HK$14.78 right before the suspension of trading on Hong Kong bourse. The company will resume trading today. (Hong Kong Economic Journal P6)
CNR Holdings (2889 HK) recorded a loss of 332 million yuan for the year 2009, sinking into the red. Loss per share was 0.159 yuan. No dividend was declared. (Sing Tao Daily B2)
Dynamic Energy (578 HK) saw net profit slightly above HK$46 million for the full-year of 2009, down 83 per cent year-on-year. Earnings per share were 2.57 HK cents. No dividend was declared. The company plans to issue HK$1.2 billion convertible bonds. (Sing Tao Daily B2)
Lansen Pharmaceutical (503 HK) said it is planning to develop immune medicine for rheumatism for mainland China market and expand it as its main business, according to its CEO. The company will look for acquisition target actively in the future, he said. (Hong Kong Economic Journal P8)
Sany International (631 HK) recorded net profit of 490 million yuan for the year 2009, up almost 1.6 times year-on-year. Basic earnings per share amounted to 0.32 yuan. A final dividend of 6 HK cents per share was paid. (Sing Tao Daily B2)
Sichuan Expressway (107 HK) posted an unaudited profit of 294 million yuan for the first quarter this year, up 67.4 per cent year on year, as its sales income increased 22 per cent year on year and cost went down. (Hong Kong Economic Times A12)
Shanghai Zendai (755 HK) announced yesterday that it would set up a joint venture with companies including its second largest shareholder Shanghai Forte Land (2337) and Greentown (3900) to develop large projects in Shanghai. The company and Shanghai Forte Land will own the joint venture as to 50% and 30% respectively. The registered capital of the joint venture will be 1 billion yuan. (Sing Tao Daily B3)
SMIC (981 HK) saw turnover for the year 2009 drop almost 21 per cent to around HK$8.3 billion. Sales cost and administrative fees jumped 56 per cent and 2.6 times respectively. The company lost approximately HK$7.5 billion, up 1.2 times year-on-year. Loss per share was 4 US cents. (Sing Tao Daily B4)
Weichai Power (2338 HK) posted net profit of 3.4 billion yuan for the full-year of 2009, up almost 77 per cent year-on-year. A final dividend of 0.48 yuan per share was recommended. As economy recovers, the company saw earnings climb almost 3.5 times to approximately 1.62 billion yuan in the first quarter of 2010. (Sing Tao Daily B3)
Wheelock & Co. (20 HK), the Hong Kong-based company that controls two of the city’s biggest shopping malls through a unit, offered to pay HK$6.9048 billion to buy Wheelock Properties Ltd. Shares it doesn’t already own. Price per share will be HK$13, higher than expected. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, April 27, 2010
Hong Kong Stock Market Wrap April 26th, 2010
Air China (753 HK) director Kong Dong said the next target was to increase the capital spending of 2010 by 50 per cent year-on-year to 15 billion yuan in order to gain market share in the mainland. The company intends to expand its presence in the Eastern and Southern market. Air China’s net profit more than doubled to 2.172 billion yuan in the first quarter of the year. (Hong Kong Economic Times A12)
Asia Cassava Resources Holdings Limited (841 HK) announced profit warning for the fiscal year ended March 31. The company said it cassava chips sale and turnover are likely to more than double, due to persistent increasing demand. (Sing Tao Daily B2)
BYD (1211 HK) said unaudited first-quarter net profit surged 2.55 times year on year to 1.704 billion yuan. Turnover amounted to around 12.656 billion yuan, up 70 per cent compared with that of the same period last year. Earnings per share were 0.75 yuan. No final dividend was decalred. (Sing Tao Daily B4)
China Construction Bank Corp. (939 HK) is likely to propose a 0.7-for-10 rights issue to raise as much as 70 billion yuan in Shanghai and Hong Kong, according to mainland media, citing unnamed authorized sources. The board will discuss the proposal on April 29 when the bank checks its first-quarter results, the paper said. (Sing Tao Daily B2)
China Citic Bank (998 HK) said it will cooperate with its strategic shareholder CORFISA, which is wholly controlled by Spanish bank Banco Bilbao Vizcaya Argentaria SA., to set up a China Auto Finance venture. Citibank will contribute 650 million yuan for a 65 per cent stake in the company. The total registration capital will be 1 billion yuan. (Sing Tao Daily B2)
China Forestry (930 HK) posted net profit of 511 million yuan for the full-year of 2009, down 91.3 per cent. Earnings per share amounted to 0.22 yuan. Revenue rose 45.7 per cent to 793.7 million yuan. A final dividend of 5.86 HK cents was declared. (Hong Kong Economic Journal P.8)
China Railway (390 HK) posted net profit of 6.887 billion yuan, surging 4.1 times year-on-year. A final dividend of 0.063 yuan was declared. Other income totalled 1.357 billion yuan. Gross profit margin dropped 1.2 percentage points year-on-year to 6.1 per cent. Net profit in the first quarter rose 68.48 per cent year-on-year to 1.655 billion yuan. (Hong Kong Economic Times A12)
Dragon Hill Wuling Automobile (305 HK) Holdings said it recorded a loss of 21.92 million yuan for 2009, compared with a profit of 32.64 million yuan in 2008. If excluding the loss resulted from the change in fair value of the derivative financial instrument embeded with the convertible loan notes issued by the company, the company gained around 43.76 million yuan, up 34% year on year. Loss per share was 2.39 fen. No final dividend was declared. (Sing Tao Daily B4)
Hong Long (1383 HK) chairman Zeng Yunshu said contract sales target this year would be 1.628 billion yuan, with sales area of 202,000 sq.m. Sales reached 300 million yuan since this year, of which 100 million yuan generated from Hong Long Century Plaza that has launched sales since early April. He added that the company had not been affected by new macro-adjustment measures as it was focusing on sales of commercial properties. (Hong Kong Economic Times A12)
Lansen Pharmaceutical Holdings (503 HK) said it would benefited from the continued growth of pharmaceutical industry in the PRC but whether it would distribute dividends in the first listing year had yet to be decided. The company expected net profit of US$4.8 million for the period ended June 2010. (Hong Kong Economic Journal P.8)
Lenovo Group Limited (992 HK) mulls on acquiring a U.S. smart phone producer Palm, to pave the way into the U.S. market, Reuters news reported. The fourth largest PC maker would have to invest up to HK$10.1 billion to complete the deal, the news agency said. (Sing Tao Daily B2)
Orange Sky Golden Harvest (1132 HK) saw revenue grow 55 per cent to HK$290 million in the first quarter and net profit grow 5.6 times year-on-year to HK$33 million. For the 18 months ended last year, revenue amounted to HK$1.164 billion, increased by 88 per cent over the year ended June 2008. Net profit rose from HK$11 million to HK$96 million. Special dividend of 1 HK cent per share was recommended. (Hong Kong Economic Times A12)
Sun Hung Kai & Co. Limited (86 HK) said it will conduct reorganization and it has agreed to sell Mandatory Convertible Notes and warrants to a private-equity firm CVC Capital Partners for HK$2.14 billion. The sale is conditional on Sun Hung Kai disposing of its 38 per cent stake in mainland producer Tian An China Investments Co. (0028), to Allid Properties Ltd. (0056). (Sing Tao Daily B4)
Swire Properties (962 HK) said 65 per cent of the fund raised will be used to pay back the debt for its parent company, Swire Pacific Limited (0019). Another HK$210 million will be invested in property developments, according to the prospectus. The company will issue 910 million shares at a price ranging from HK$20.75 to HK$22.9. The entry fee for the retail investors will be HK$4,626. (Sing Tao Daily B1)
Renhe Commercial (1387 HK) posted revenue of 4.163 billion yuan for the year 2009, up 36.5 per cent. Net profit jumped 1.12 times to 4.038 billion yuan. Earnings per share were 19.29 fen. A final dividend of 9.18 fen per share was paid. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Asia Cassava Resources Holdings Limited (841 HK) announced profit warning for the fiscal year ended March 31. The company said it cassava chips sale and turnover are likely to more than double, due to persistent increasing demand. (Sing Tao Daily B2)
BYD (1211 HK) said unaudited first-quarter net profit surged 2.55 times year on year to 1.704 billion yuan. Turnover amounted to around 12.656 billion yuan, up 70 per cent compared with that of the same period last year. Earnings per share were 0.75 yuan. No final dividend was decalred. (Sing Tao Daily B4)
China Construction Bank Corp. (939 HK) is likely to propose a 0.7-for-10 rights issue to raise as much as 70 billion yuan in Shanghai and Hong Kong, according to mainland media, citing unnamed authorized sources. The board will discuss the proposal on April 29 when the bank checks its first-quarter results, the paper said. (Sing Tao Daily B2)
China Citic Bank (998 HK) said it will cooperate with its strategic shareholder CORFISA, which is wholly controlled by Spanish bank Banco Bilbao Vizcaya Argentaria SA., to set up a China Auto Finance venture. Citibank will contribute 650 million yuan for a 65 per cent stake in the company. The total registration capital will be 1 billion yuan. (Sing Tao Daily B2)
China Forestry (930 HK) posted net profit of 511 million yuan for the full-year of 2009, down 91.3 per cent. Earnings per share amounted to 0.22 yuan. Revenue rose 45.7 per cent to 793.7 million yuan. A final dividend of 5.86 HK cents was declared. (Hong Kong Economic Journal P.8)
China Railway (390 HK) posted net profit of 6.887 billion yuan, surging 4.1 times year-on-year. A final dividend of 0.063 yuan was declared. Other income totalled 1.357 billion yuan. Gross profit margin dropped 1.2 percentage points year-on-year to 6.1 per cent. Net profit in the first quarter rose 68.48 per cent year-on-year to 1.655 billion yuan. (Hong Kong Economic Times A12)
Dragon Hill Wuling Automobile (305 HK) Holdings said it recorded a loss of 21.92 million yuan for 2009, compared with a profit of 32.64 million yuan in 2008. If excluding the loss resulted from the change in fair value of the derivative financial instrument embeded with the convertible loan notes issued by the company, the company gained around 43.76 million yuan, up 34% year on year. Loss per share was 2.39 fen. No final dividend was declared. (Sing Tao Daily B4)
Hong Long (1383 HK) chairman Zeng Yunshu said contract sales target this year would be 1.628 billion yuan, with sales area of 202,000 sq.m. Sales reached 300 million yuan since this year, of which 100 million yuan generated from Hong Long Century Plaza that has launched sales since early April. He added that the company had not been affected by new macro-adjustment measures as it was focusing on sales of commercial properties. (Hong Kong Economic Times A12)
Lansen Pharmaceutical Holdings (503 HK) said it would benefited from the continued growth of pharmaceutical industry in the PRC but whether it would distribute dividends in the first listing year had yet to be decided. The company expected net profit of US$4.8 million for the period ended June 2010. (Hong Kong Economic Journal P.8)
Lenovo Group Limited (992 HK) mulls on acquiring a U.S. smart phone producer Palm, to pave the way into the U.S. market, Reuters news reported. The fourth largest PC maker would have to invest up to HK$10.1 billion to complete the deal, the news agency said. (Sing Tao Daily B2)
Orange Sky Golden Harvest (1132 HK) saw revenue grow 55 per cent to HK$290 million in the first quarter and net profit grow 5.6 times year-on-year to HK$33 million. For the 18 months ended last year, revenue amounted to HK$1.164 billion, increased by 88 per cent over the year ended June 2008. Net profit rose from HK$11 million to HK$96 million. Special dividend of 1 HK cent per share was recommended. (Hong Kong Economic Times A12)
Sun Hung Kai & Co. Limited (86 HK) said it will conduct reorganization and it has agreed to sell Mandatory Convertible Notes and warrants to a private-equity firm CVC Capital Partners for HK$2.14 billion. The sale is conditional on Sun Hung Kai disposing of its 38 per cent stake in mainland producer Tian An China Investments Co. (0028), to Allid Properties Ltd. (0056). (Sing Tao Daily B4)
Swire Properties (962 HK) said 65 per cent of the fund raised will be used to pay back the debt for its parent company, Swire Pacific Limited (0019). Another HK$210 million will be invested in property developments, according to the prospectus. The company will issue 910 million shares at a price ranging from HK$20.75 to HK$22.9. The entry fee for the retail investors will be HK$4,626. (Sing Tao Daily B1)
Renhe Commercial (1387 HK) posted revenue of 4.163 billion yuan for the year 2009, up 36.5 per cent. Net profit jumped 1.12 times to 4.038 billion yuan. Earnings per share were 19.29 fen. A final dividend of 9.18 fen per share was paid. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, April 26, 2010
Hong Kong Stock Market Wrap April 23rd, 2010
Bank of Communications (3328 HK), China’s fifth largest lender, announced that the company has got approval of its rights issue from China Banking Regulatory Commision, which aims at raising up to 42 billion yuan from shareholders of both A-and H-shares. (Sing Tao Daily B16)
Dieter Zetsche, Chairman of the Board of Management of Daimler AG, announced that the company will cooperate with BYD (1211 HK) on developing a new electric vehicle specific to the requirements of the Chinese market and will launch the sale in 2013. In addition, BYD plans to sell E6 electronic taxi in Shenzhen this year. (Sing Tao Daily B16)
China mobile (941 HK) recorded a nearly one-year high of new customer growth, among which the number of 3G customers surged 3 million. The company revised its 2009 target to add at least 11.5 million news TD customers while striving for the target of 15 million by the end of this year. (Hong Kong Economic Journal P4)
China Southern Airlines (1055 HK) posted an unaudited profit of 1.419 billion yuan for the first quarter this year, surging 5.39 times year on year, mainly helped by an one-off investment income from selling stake in an aircraft maintenance unit. (Hong Kong Economic Times A14)
Esprit Holdings Limited (330 HK) said turnover declined 1.8 per cent to HK$26.7 billion for the past nine months ended 31 March 2010, mainly due to the decrease in Europe. Turnover in Europe went down 3.2 per cent to HK$22.437 billion. (Sing Tao Daily B16)
TSC Offshore (206 HK) said its 2009 profit turns to the red, with a loss of $10.2 million, or 1.81 US cents per share as the company made provisions against possible impairment of assets in particular trade receivables, inventories and foreseeable losses on contracts, following its acquisition of Global Marine Energy Plc. No final dividend was declared. (Hong Kong Economic Journal P8)
Yanzhou Coal Mining (1171 HK) posted a net profit of 2.1 billion yuan for the first quarter, up 1.9 times year on year. Meantime, the company announced profit warning for the first half this year, expecting its net profit to grow more than 100 per cent, compared with a first-half profit of 1.904 billion yuan last year. (Hong Kong Economic Times A14)
Centron Telecom (1155 HK) saw last-year net profit climb about 40 per cent year-on-year to 165 million yuan. Revenue amounted to 1.14 billion yuan, up almost 40 per cent year-on-year. Gross profit margin was around 28.37 per cent, down 0.60 percentage points. Research and development expenditure was approximately 33 million yuan, surging nearly 94 per cent. Dai Guoyu has resigned as CEO due to health problems but remains an executive director and chairman Dai Guoliang, effective from 23 April, will take his place temporarily. (Hong Kong Economic Journal P.5)
DVN (500 HK) recorded profit of approximately HK$11.81 million for the full-year of 2009, down 87 per cent year-on-year. Earnings per share were 1.04 HK cents. No final dividend was declared but a special dividend of HK$0.02 per share was paid. (Sing Tao Daily B12)
Greens Holdings (1318 HK), listed since last November, said earlier that 2009 results might fail to achieve profit forecast in prospectus of not less than 95 million yuan. The company announced yesterday profit attributable to shareholders for 2009 rose 13.8 per cent to 68.317 million yuan, 28 per cent below the forecast, due to delay of some sales orders. Revenue grew 28.9 per cent to 555 million yuan. Basic earnings per share amounted to 0.072 yuan. A final dividend of 2.17 HK cents per share was recommended. (Hong Kong Economic Times A15)
Mayer Holdings (1116 HK)’ 2009 full-year results sank into the red and reported loss of approximately 510,000 yuan. Loss per share was 0.09 fen. No dividend was declared. (Sing Tao Daily B12)
Meike International (953 HK) posted profit of around 90,000,000 yuan for the year 2009, same as prospectus forecast, up almost 85 per cent year-on-year. Turnover reached 499 million yuan. Earnings per share were 12.1 fen. A final dividend of 3.4 fen per share was declared. (Sing Tao Daily B12)
Sinopharm’s (1099 HK) A shares announced first-quarter results yesterday. Net profit was 69.86 million yuan, up 20.17 per cent over the same period last year. Earnings per share were 14.59 fen. Turnover was 1.39 billion yuan, up 11.7 per cent from the 1.246 billion yuan for the same period last year. (Sing Tao Daily B12)
Royale Furniture (1198 HK) recorded net profit of HK$130 million for the full-year of 2009. Earnings per share were 29.53 HK cents. A final dividend of 8.5 HK cents per share was declared. (Sing Tao Daily B12)
Uni-President China (220 HK) saw turnover drop 1.4 per cent to 9.1 billion yuan for the year 2009. Net profit more than doubled to 705 million yuan. A final dividend of 5.875 fen per share and special dividend of 3.917 fen per share were recommended. (Hong Kong Economic Times A15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Dieter Zetsche, Chairman of the Board of Management of Daimler AG, announced that the company will cooperate with BYD (1211 HK) on developing a new electric vehicle specific to the requirements of the Chinese market and will launch the sale in 2013. In addition, BYD plans to sell E6 electronic taxi in Shenzhen this year. (Sing Tao Daily B16)
China mobile (941 HK) recorded a nearly one-year high of new customer growth, among which the number of 3G customers surged 3 million. The company revised its 2009 target to add at least 11.5 million news TD customers while striving for the target of 15 million by the end of this year. (Hong Kong Economic Journal P4)
China Southern Airlines (1055 HK) posted an unaudited profit of 1.419 billion yuan for the first quarter this year, surging 5.39 times year on year, mainly helped by an one-off investment income from selling stake in an aircraft maintenance unit. (Hong Kong Economic Times A14)
Esprit Holdings Limited (330 HK) said turnover declined 1.8 per cent to HK$26.7 billion for the past nine months ended 31 March 2010, mainly due to the decrease in Europe. Turnover in Europe went down 3.2 per cent to HK$22.437 billion. (Sing Tao Daily B16)
TSC Offshore (206 HK) said its 2009 profit turns to the red, with a loss of $10.2 million, or 1.81 US cents per share as the company made provisions against possible impairment of assets in particular trade receivables, inventories and foreseeable losses on contracts, following its acquisition of Global Marine Energy Plc. No final dividend was declared. (Hong Kong Economic Journal P8)
Yanzhou Coal Mining (1171 HK) posted a net profit of 2.1 billion yuan for the first quarter, up 1.9 times year on year. Meantime, the company announced profit warning for the first half this year, expecting its net profit to grow more than 100 per cent, compared with a first-half profit of 1.904 billion yuan last year. (Hong Kong Economic Times A14)
Centron Telecom (1155 HK) saw last-year net profit climb about 40 per cent year-on-year to 165 million yuan. Revenue amounted to 1.14 billion yuan, up almost 40 per cent year-on-year. Gross profit margin was around 28.37 per cent, down 0.60 percentage points. Research and development expenditure was approximately 33 million yuan, surging nearly 94 per cent. Dai Guoyu has resigned as CEO due to health problems but remains an executive director and chairman Dai Guoliang, effective from 23 April, will take his place temporarily. (Hong Kong Economic Journal P.5)
DVN (500 HK) recorded profit of approximately HK$11.81 million for the full-year of 2009, down 87 per cent year-on-year. Earnings per share were 1.04 HK cents. No final dividend was declared but a special dividend of HK$0.02 per share was paid. (Sing Tao Daily B12)
Greens Holdings (1318 HK), listed since last November, said earlier that 2009 results might fail to achieve profit forecast in prospectus of not less than 95 million yuan. The company announced yesterday profit attributable to shareholders for 2009 rose 13.8 per cent to 68.317 million yuan, 28 per cent below the forecast, due to delay of some sales orders. Revenue grew 28.9 per cent to 555 million yuan. Basic earnings per share amounted to 0.072 yuan. A final dividend of 2.17 HK cents per share was recommended. (Hong Kong Economic Times A15)
Mayer Holdings (1116 HK)’ 2009 full-year results sank into the red and reported loss of approximately 510,000 yuan. Loss per share was 0.09 fen. No dividend was declared. (Sing Tao Daily B12)
Meike International (953 HK) posted profit of around 90,000,000 yuan for the year 2009, same as prospectus forecast, up almost 85 per cent year-on-year. Turnover reached 499 million yuan. Earnings per share were 12.1 fen. A final dividend of 3.4 fen per share was declared. (Sing Tao Daily B12)
Sinopharm’s (1099 HK) A shares announced first-quarter results yesterday. Net profit was 69.86 million yuan, up 20.17 per cent over the same period last year. Earnings per share were 14.59 fen. Turnover was 1.39 billion yuan, up 11.7 per cent from the 1.246 billion yuan for the same period last year. (Sing Tao Daily B12)
Royale Furniture (1198 HK) recorded net profit of HK$130 million for the full-year of 2009. Earnings per share were 29.53 HK cents. A final dividend of 8.5 HK cents per share was declared. (Sing Tao Daily B12)
Uni-President China (220 HK) saw turnover drop 1.4 per cent to 9.1 billion yuan for the year 2009. Net profit more than doubled to 705 million yuan. A final dividend of 5.875 fen per share and special dividend of 3.917 fen per share were recommended. (Hong Kong Economic Times A15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, April 23, 2010
Hong Kong Stock Market Wrap April 22nd, 2010
Aeon Credit Service (Asia) Company Limited (900 HK) said full year profit declined 13 per cent to around HK$260 million. Earnings per share were 61.94 HK cents. A final dividend of 16 HK cents was declared. (Sing Tao Daily B4)
Air China Limited (753 HK) said net profit jumped to 4.854 billion yuan last year, compared with a net loss of 9.25 billion yuan in 2008, mainly helped by lower fuel costs and higher passenger volumes. Profit for the first quarter this year surged 1.77 times to 2.172 billion yuan, or 19 fens per share. (Sing Tao Daily B4)
Asia Energy Logistics (351 HK) expected its results to return to the black this year. The company posted turnover of HK$110 million for the year 2009, up 3.3 per cent. Loss narrowed 90 per cent to HK$3.4 million. No final dividend was declared. (Hong Kong Economic Journal P12)
Ausnutria Dairy (1717 HK) saw profit attributable to shareholders climb 158 per cent to 182 million yuan for the year 2009. Earnings per share were 21.3 fens. A final dividend of 6 fens per share was declared. (Hong Kong Economic Times A13)
China Overseas (688 HK) reported unaudited turnover of HK$6.056 billion and operating income of HK$2.44 billion in the first quarter of the year. Net gearing rose to a relatively high level of 50 per cent. (Hong Kong Economic Journal P8)
China South Locomotive & Rolling Stock Corporation (1766 HK) posted a full-year profit of 1.678 billion yuan in 2009, up over 21 per cent. A final dividend of 4 fens per share was declared. Net profit jumped almost 85 per cent year-on-year to 355.9 million yuan in the first quarter this year, in accordance with PRC accounting standards. (Sing Tao Daily B5)
China Coal Energy (1898 HK) achieved net profit of 7.83 billion yuan for the year 2009, up 9.9 per cent over the same period the previous year. Earnings per share were 0.59 yuan, up 9.3 per cent year-on-year. A final dividend of 0.14984 yuan per share was recommended. In addition, the company recorded a profit of 1.98 billion yuan in the first quarter this year, up 42 per cent compared with the same period a year ago, driven by increasing coal demand. (Hong Kong Economic Journal P12)
China Cosco (1919 HK), the world’s largest operator of dry-bulk ships, posted a net loss of 7.468 billion yuan last year, compared with a net profit of 11.6 billion yuan in 2008, as rates for hauling commodities and containers tumbled. Loss per share amounted to 73.1 fens. No final dividend was declared. (Sing Tao Daily B5)
China Shipping Container Lines (2866 HK), the nation’s No. 2 box- carrier, said it expected to return to profit after more than 80 per cent customers agreed to an $800 per 40-foot box increase in Asia-US west coast routes, according the CEO. He said profit to grow 30 per cent to 26.1 billion yuan. (Sing Tao Daily B5)
Denway Motors (203 HK) announced that the board had appointed BNP Paribas Capital (Asia Pacific) Limited as independent financial adviser to advise on the proposed privatization of the company and the listing of its parent GAC. (Hong Kong Economic Journal P12)
Global Bio-Chem Technology Group (809 HK) turns into the red in 2009, losing as much as HK$14.978 million, compared with a net profit of over 621 million in a year before, as the company’s export business shrank and amino acids product price dropped. Loss per share amounted 6 HK cents. No final dividend was recommended. (Sing Tao Daily B4)
Global Sweeteners (3889 HK) posted net profit of HK$85.68 million for the year 2009, down 44.5 per cent. Earnings per share were 8.2 HK cents. A final dividend of 1 HK cent per share was declared. (Hong Kong Economic Times A13)
Guangshen Railway Co. (525 HK) said 2009 profit rose 11.76% per cent to 1.365 billion yuan. Earnings per share were 0.19 yuan. A final dividend of 7.2 HK cents was declared. (Sing Tao Daily B5)
Lumena Resources Corp. (67 HK), a Chinese thenardite producer, said net profit rose by 24 per cent to 533 million yuan for the year 2009, as demand for thenardite increased and selling price remained on a high level. Capital expenditure this year will be 560 million yuan. In addition, the company said production capability is estimated to rise by 60 million tonnes to 220 million tonnes. (Sing Tao Daily B4)
Ping An Insurance (2318 HK) recorded net asset entrusted and under management in annuity business of 22.457 billion yuan and net asset under investment management in annuity business of 29.533 billion yuan in the first quarter this year, reaching approximately 52 billion yuan in total. (Hong Kong Economic Times A13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Air China Limited (753 HK) said net profit jumped to 4.854 billion yuan last year, compared with a net loss of 9.25 billion yuan in 2008, mainly helped by lower fuel costs and higher passenger volumes. Profit for the first quarter this year surged 1.77 times to 2.172 billion yuan, or 19 fens per share. (Sing Tao Daily B4)
Asia Energy Logistics (351 HK) expected its results to return to the black this year. The company posted turnover of HK$110 million for the year 2009, up 3.3 per cent. Loss narrowed 90 per cent to HK$3.4 million. No final dividend was declared. (Hong Kong Economic Journal P12)
Ausnutria Dairy (1717 HK) saw profit attributable to shareholders climb 158 per cent to 182 million yuan for the year 2009. Earnings per share were 21.3 fens. A final dividend of 6 fens per share was declared. (Hong Kong Economic Times A13)
China Overseas (688 HK) reported unaudited turnover of HK$6.056 billion and operating income of HK$2.44 billion in the first quarter of the year. Net gearing rose to a relatively high level of 50 per cent. (Hong Kong Economic Journal P8)
China South Locomotive & Rolling Stock Corporation (1766 HK) posted a full-year profit of 1.678 billion yuan in 2009, up over 21 per cent. A final dividend of 4 fens per share was declared. Net profit jumped almost 85 per cent year-on-year to 355.9 million yuan in the first quarter this year, in accordance with PRC accounting standards. (Sing Tao Daily B5)
China Coal Energy (1898 HK) achieved net profit of 7.83 billion yuan for the year 2009, up 9.9 per cent over the same period the previous year. Earnings per share were 0.59 yuan, up 9.3 per cent year-on-year. A final dividend of 0.14984 yuan per share was recommended. In addition, the company recorded a profit of 1.98 billion yuan in the first quarter this year, up 42 per cent compared with the same period a year ago, driven by increasing coal demand. (Hong Kong Economic Journal P12)
China Cosco (1919 HK), the world’s largest operator of dry-bulk ships, posted a net loss of 7.468 billion yuan last year, compared with a net profit of 11.6 billion yuan in 2008, as rates for hauling commodities and containers tumbled. Loss per share amounted to 73.1 fens. No final dividend was declared. (Sing Tao Daily B5)
China Shipping Container Lines (2866 HK), the nation’s No. 2 box- carrier, said it expected to return to profit after more than 80 per cent customers agreed to an $800 per 40-foot box increase in Asia-US west coast routes, according the CEO. He said profit to grow 30 per cent to 26.1 billion yuan. (Sing Tao Daily B5)
Denway Motors (203 HK) announced that the board had appointed BNP Paribas Capital (Asia Pacific) Limited as independent financial adviser to advise on the proposed privatization of the company and the listing of its parent GAC. (Hong Kong Economic Journal P12)
Global Bio-Chem Technology Group (809 HK) turns into the red in 2009, losing as much as HK$14.978 million, compared with a net profit of over 621 million in a year before, as the company’s export business shrank and amino acids product price dropped. Loss per share amounted 6 HK cents. No final dividend was recommended. (Sing Tao Daily B4)
Global Sweeteners (3889 HK) posted net profit of HK$85.68 million for the year 2009, down 44.5 per cent. Earnings per share were 8.2 HK cents. A final dividend of 1 HK cent per share was declared. (Hong Kong Economic Times A13)
Guangshen Railway Co. (525 HK) said 2009 profit rose 11.76% per cent to 1.365 billion yuan. Earnings per share were 0.19 yuan. A final dividend of 7.2 HK cents was declared. (Sing Tao Daily B5)
Lumena Resources Corp. (67 HK), a Chinese thenardite producer, said net profit rose by 24 per cent to 533 million yuan for the year 2009, as demand for thenardite increased and selling price remained on a high level. Capital expenditure this year will be 560 million yuan. In addition, the company said production capability is estimated to rise by 60 million tonnes to 220 million tonnes. (Sing Tao Daily B4)
Ping An Insurance (2318 HK) recorded net asset entrusted and under management in annuity business of 22.457 billion yuan and net asset under investment management in annuity business of 29.533 billion yuan in the first quarter this year, reaching approximately 52 billion yuan in total. (Hong Kong Economic Times A13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, April 22, 2010
Hong Kong Stock Market Wrap April 21st, 2010
Angang Steel (347 HK) recorded net profit of 752 million yuan for the year 2009, down 75 per cent. Basic earnings per share amounted to 0.104 yuan. A final dividend of 0.06 yuan per share was declared. Turnover dropped 11 per cent to approximately 70 billion yuan. (Hong Kong Economic Journal P10)
Asian Citrus (73 HK) plans to place 68 million shares at a price of HK$5.7 per share to raise up to HK$388 million. Its substantial shareholder Huge Market Investments Ltd. will place 27 million existing shares at the same price for HK$154 million. The shares of the company resume trading today. (Hong Kong Economic Journal P11)
China Gas Holdings (384 HK) has made a request to cancel its offer to buy Zhongyu Gas Holdings Limited (8070) as the latter failed to publish its 2009 results announcement and the trading of its shares was suspended. China Gas Holdings’ shares was suspended trading on 16 April. The company has applied to resume trading this morning. (Hong Kong Economic Times A14)
China Mobile Ltd. (941 HK), the world’s biggest phone carrier by market value, posted weaker-than-expected earnings, which merely grew 1.1 per cent from the year-earlier quarter. But some analysts are still bullish on its shares. Credit Suisse maintained its rating as “outperform” and target price at HK$107. (Sing Tao Daily B2)
China Ocean Shipbuilding (651 HK) issued a profit warning after closing yesterday. The company expected to record a substantial loss for the year 2009, mainly attributed to factors such as impairment loss on goodwill and intangible asset. (Hong Kong Economic Journal P11)
CSCL (2866 HK) lost 6.489 billion yuan for the year 2009. No dividend was declared. The company said 2009 was a gloomy time for the shipping market. It made a net profit of 47.08 million yuan in 2008. (Hong Kong Economic Times A12)
China Shipping Development (1138 HK) posted a unaudited profit of 458 billion yuan for the three months ended 31 March this year, up 45 per cent compared with the same period last year, as interest expenses from related bank borrowings has be conducted as cost and new vessels were delivered. The information set out is accordance with the PRC accounting standards. (Sing Tao Daily B4)
Chu Kong Petroleum And Natural Gas Steel Pipe (1938 HK) said its capital expenditure this year will be 852 million yuan, among which 830 billion yuan will be used to add three production lines. In addition, the company has finished a trial production of a new type of pipe designed by itself for deep sea and will accept orders at the end of this year at soonest. (Sing Tao Daily B4)
Dongfang Electric Corporation (1072 HK) said thermal power orders may record decrease as the number of new projects are smaller this year, according to its CEO. But he added that the company would make up the loss through increasing wind power and nuclear power, as well as enlarging the overseas market. (Sing Tao Daily B4)
Emperor Capital Group (717 HK) said the unaudited interim results of the company for the six months ended 31 March are expected to record a significant profit as compared to a loss for the corresponding period in 2009, mainly helped by the improvement in business operations as a result of the recovery in the stock market activities. (Sing Tao Daily B4)
Jiangxi Copper (358 HK) saw net profit jump 3.6 times year-on-year to almost 700 million yuan for the first quarter of the year on rising sales prices and volumes. Operating income rose 60.9 per cent to 15.9 billion yuan while net cash flow from operating activities slumped 98.9 per cent. (Hong Kong Economic Times A14)
Shun Tak Holdings (242 HK) saw net profit climb 27 times to HK$2.874 billion for the year 2009. Core earnings rose 5.1 times to HK$1.193 billion. Basic earnings per share were HK$1.344, up 29.5 times. A final dividend of 18.7 HK cents per share was declared. (Hong Kong Economic Times A12)
Rainbow Brothers Holdings (33 HK), whose market share is only HK$320 million, has agreed to acquire 90 per cent stake in Market Speed Limited from Tong Nai Kan, for HK$3.24 billion. The deal will be paid through convertible bonds issued by the company. (Sing Tao Daily B3)
RUSAL (486 HK) said the company aims at lowering its debt and boost aluminium production capacity, according to its CEO. The company is seeking to raise $700 million to fund the construction of the first of two new smelter complexes, which could produces around 332,000 tonnes of aluminium, by September 2011. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Asian Citrus (73 HK) plans to place 68 million shares at a price of HK$5.7 per share to raise up to HK$388 million. Its substantial shareholder Huge Market Investments Ltd. will place 27 million existing shares at the same price for HK$154 million. The shares of the company resume trading today. (Hong Kong Economic Journal P11)
China Gas Holdings (384 HK) has made a request to cancel its offer to buy Zhongyu Gas Holdings Limited (8070) as the latter failed to publish its 2009 results announcement and the trading of its shares was suspended. China Gas Holdings’ shares was suspended trading on 16 April. The company has applied to resume trading this morning. (Hong Kong Economic Times A14)
China Mobile Ltd. (941 HK), the world’s biggest phone carrier by market value, posted weaker-than-expected earnings, which merely grew 1.1 per cent from the year-earlier quarter. But some analysts are still bullish on its shares. Credit Suisse maintained its rating as “outperform” and target price at HK$107. (Sing Tao Daily B2)
China Ocean Shipbuilding (651 HK) issued a profit warning after closing yesterday. The company expected to record a substantial loss for the year 2009, mainly attributed to factors such as impairment loss on goodwill and intangible asset. (Hong Kong Economic Journal P11)
CSCL (2866 HK) lost 6.489 billion yuan for the year 2009. No dividend was declared. The company said 2009 was a gloomy time for the shipping market. It made a net profit of 47.08 million yuan in 2008. (Hong Kong Economic Times A12)
China Shipping Development (1138 HK) posted a unaudited profit of 458 billion yuan for the three months ended 31 March this year, up 45 per cent compared with the same period last year, as interest expenses from related bank borrowings has be conducted as cost and new vessels were delivered. The information set out is accordance with the PRC accounting standards. (Sing Tao Daily B4)
Chu Kong Petroleum And Natural Gas Steel Pipe (1938 HK) said its capital expenditure this year will be 852 million yuan, among which 830 billion yuan will be used to add three production lines. In addition, the company has finished a trial production of a new type of pipe designed by itself for deep sea and will accept orders at the end of this year at soonest. (Sing Tao Daily B4)
Dongfang Electric Corporation (1072 HK) said thermal power orders may record decrease as the number of new projects are smaller this year, according to its CEO. But he added that the company would make up the loss through increasing wind power and nuclear power, as well as enlarging the overseas market. (Sing Tao Daily B4)
Emperor Capital Group (717 HK) said the unaudited interim results of the company for the six months ended 31 March are expected to record a significant profit as compared to a loss for the corresponding period in 2009, mainly helped by the improvement in business operations as a result of the recovery in the stock market activities. (Sing Tao Daily B4)
Jiangxi Copper (358 HK) saw net profit jump 3.6 times year-on-year to almost 700 million yuan for the first quarter of the year on rising sales prices and volumes. Operating income rose 60.9 per cent to 15.9 billion yuan while net cash flow from operating activities slumped 98.9 per cent. (Hong Kong Economic Times A14)
Shun Tak Holdings (242 HK) saw net profit climb 27 times to HK$2.874 billion for the year 2009. Core earnings rose 5.1 times to HK$1.193 billion. Basic earnings per share were HK$1.344, up 29.5 times. A final dividend of 18.7 HK cents per share was declared. (Hong Kong Economic Times A12)
Rainbow Brothers Holdings (33 HK), whose market share is only HK$320 million, has agreed to acquire 90 per cent stake in Market Speed Limited from Tong Nai Kan, for HK$3.24 billion. The deal will be paid through convertible bonds issued by the company. (Sing Tao Daily B3)
RUSAL (486 HK) said the company aims at lowering its debt and boost aluminium production capacity, according to its CEO. The company is seeking to raise $700 million to fund the construction of the first of two new smelter complexes, which could produces around 332,000 tonnes of aluminium, by September 2011. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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