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  1. CCB first-half profit jumps 50pc on rising fee and interest income

    Posted Jul 11th 2008, 12:00am by Staff Reporter

    ..., and a lower tax rate. 'During the first six months of 2008, the development of the bank's various businesses experienced positive trends and the bank's net interest income, fees and commission income have grown relatively rapidly,' Construction Bank said in a statement to the stock exchange. Profit was also helped by a new tax rate implemented this year. The bank's ...

  2. PetroChina drops 8.4pc after income disappoints investors

    Posted Mar 21st 2008, 12:00am by Eric Ng

    ... Shares in PetroChina yesterday fell as much as 8.41 per cent, after the company posted a disappointing net profit on the back of surging operating costs and a higher tax burden. The nation's largest oil and gas producer ended 6.81 per cent lower at HK$9.17, a day after it announced net profit growth of 2.4 per cent, compared with market expectations of a 6.8 per cent increase. ...

  3. China Resources Land income soars 62.9pc

    Posted Sep 15th 2007, 12:00am by Yvonne Liu

    ... profit margin dropped to 38.3 per cent from 40.7 per cent a year earlier, crimped by the land appreciation tax, which jumped to HK$95 million from HK$16 million. China Resources Land booked ...

  4. ICBC posts 51pc jump in after-tax earnings

    Posted Apr 26th 2007, 12:00am by Andy Chen

    ... Andy Cheng Lender gets lift from higher fee income, wider interest margins Industrial and Commercial Bank of China, the nation's largest lender, said after-tax profit jumped 51 per cent in the first quarter, thanks to higher fee income and wider interest margins. After-tax profit rose to 18.9 billion yuan in the first three months this year from 12.47 billion yuan a year ...

  5. Taxing times for mainland oil firms

    Posted Oct 13th 2011, 12:00am

    ... into the revenues of the leading energy companies. Mainland oil companies are already subject to income tax, resource tax and windfall tax which have dented their profit margins. The refinery divisions ... Charlotte So charlotte.so@scmp.com Mainland oil companies are pinning their hopes on relief measures by Beijing to offset their increasing tax burden. An executive from the country's ...

  6. Pre-tax profits at mainland banks jump 83pc to record 610b yuan

    Posted Feb 27th 2008, 12:00am by Tom Miller

    ... growth.' UBS predicts pre-tax earnings growth at 11 of the biggest banks will fall to 18 per cent this year, although an eight percentage point cut in corporate income tax for domestic enterprises ... Tom Miller in Beijing Mainland banks bucked the global trend by earning a record 610 billion yuan in pre-tax profits last year, buoyed by strong loan expansion and fees derived from ...

  7. Insurers gain as tax cut boosts earnings outlook

    Posted Apr 25th 2008, 12:00am by Staff Reporter

    ... income for China Life and Ping An soared 135.5 per cent and 68 per cent last year, respectively, when the A-share market nearly doubled. Investment income has accounted for about 40.89 per cent ...

  8. Room for more tax cuts as coffers swell

    Posted Oct 29th 2007, 12:00am by Dennis Eng

    ... rebounding real estate values. However, there are risks as stamp duty and income from land sales and premiums can fluctuate from year to year, unlike direct taxes, which are more predictable. ... Dennis Eng Experts say big surpluses to increase demands for wealth gap to be reduced The government is expected to come under intense pressure to cut taxes and move to close the wealth ...

  9. Companies that give no quarter

    Posted Jan 02nd 2012, 12:00am

    ... quarter last year contained no financial statements and offered vague references to its financial performance: 'Income in the first nine months of 2011 has grown by a high single digit percentage over the first nine months of 2010. Over the same period, operating profit before tax grew at a double-digit rate.' Some say that quarterly reporting will lead management to focus ...

  10. BOC told to reverse 4.5b yuan of losses

    Posted Apr 12th 2006, 12:00am by Jamil Anderlini

    ... income tax based on the standard rate of 33 per cent just ahead of its planned US$6 billion to US$8 billion initial public offering in Hong Kong next month. BOC officials contacted yesterday ... tax expenses each year.' Of 10.3 billion yuan of asset impairment losses that BOC booked in 2004, only 5.8 billion yuan should have been expensed before tax to reduce corporate income tax ...




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