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  • August 27, 2014
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  1. Business - China Business - EARNINGS

    Chinese state firms' profits grow faster in first seven months

    Posted Aug 21st 2014, 01:28am by Reuters

    ... Reuters in Beijing Rise comes despite indicators covering lending to investment pointing to more sluggish activity State firms' profits grow faster in first seven months State ... gain traction. State-owned non-financial companies made combined profits of 1.4 trillion yuan (HK$1.76 trillion) between January and July, up 9.2 per cent from a year ago, the Ministry ...

  2. Business - Companies - EARNINGS

    Building boom drives China State Construction’s first-half profit up 25pc

    Posted Aug 14th 2014, 01:59pm by Peggy Sito

    ... Peggy Sito peggy.sito@scmp.com China State Construction International posted a 24.93 per cent jump in first-half net profit as construction business boomed in Hong Kong and Macau. ... advantage of the booming market, the group’s construction business has become prosperous Zhou Yong, China State Construction chairman The firm signed contracts valued at HK$19.2 billion in the first ...

  3. Business - Companies - EARNINGS

    Fosun insurance revenue up 8,294pc

    Posted Aug 27th 2014, 10:08am by Langi Chiang

    ... billion yuan. Bloomberg reported earlier this month that Fosun was in talks to acquire a United States life insurance arm of Swiss Re, for between US$400 million and US$500 million. Fosun Group, ... this year, including 1 billion euros (HK$10.3 billion) to acquire majority stakes in three Portuguese state-owned insurance firms. “The group regards the development of insurance business as a good ...

  4. Business - Companies - EARNINGS

    Singapore shooting-range builder Starburst to gain from Mideast unrest

    Posted Aug 26th 2014, 01:10am by BLOOM

    ... earnings at the last close, compared with 36.5 at Cubic Corp, a United States supplier of combat training systems. "Order wins in Qatar, the UAE and Kuwait are possible, but the big upside ... spending surges following the Arab Spring uprisings. The company was pursuing as many as six contracts to provide firearms training facilities to countries including the United Arab Emirates, ...

  5. Business - Companies - EARNINGS

    Sinofert expects second-half pickup despite over-capacity concerns

    Posted Aug 22nd 2014, 09:41am by Eric Ng

    ... industry over-capacity. The Hong Kong-listed unit of state-owned oil and gas-to-property conglomerate Sinochem posted a 60.8 per cent year-on-year net profit fall to 138 million yuan (HK$173.5 ... cent coal mining unit that failed to repay bank debt.  ...

  6. Business - Companies - EARNINGS

    Li & Fung warns of tough second half after 9pc fall in core operating profit

    Posted Aug 22nd 2014, 01:21am by CHIM SAU-WAI AND TIFFANY AP

    ... profit to US$227 million in the first half of the year and the firm expects a tough second half in the United States, which is still its key export market. "Core operating profit margin ... the company performs better in the second half. But this year, that may not be the case as retail sales in the United States, which contributed 60 per cent of its total turnover, are expected ...

  7. Business - China Business - EARNINGS

    China Power International Development shares fall despite 15pc profit gain

    Posted Aug 15th 2014, 12:00pm by Eric Ng

    ... (HK$2.04 billion) for the first six months of the year. The stock was trading as low as HK$3.16 on Friday morning. The Hong Kong-listed unit of one of the Big Five state-owned power generators, ... of a new generating unit. Gains were constrained by higher depreciation, finance and staff costs. Coal-fired power business will still be facing pressures on environmental protection commitment ...

  8. Business - China Business - EARNINGS

    Mainland gaming firm CMGE gains from greater smartphone penetration

    Posted Aug 20th 2014, 01:34am by BIEN PEREZ

    ... the past two years. Nasdaq-traded CMGE, the mainland's largest publisher of mobile games in terms of gross billings, reported on Monday in the United States a second-quarter net profit of 54.9 ... smartphone shipments will be from 120 million to 150 million units this year. Most of that volume will be achieved this second half as smartphone suppliers race to meet demand from 4G subscribers ...

  9. Business - China Business - EARNINGS

    BYD pins hopes on new-energy vehicles after profit drops

    Posted Aug 26th 2014, 01:10am by Kwong Man-ki

    ... of this year would continue to rise. BYD has a full-year NEV sales target of 20,000 units after selling 7,600 units in the first half. Revenue contribution from NEV sales could be increased to between ... said BYD would expand its production capacity, which at present cannot meet the strong demand for the Qin. Monthly capacity for the model could be increased to more than 3,000 units next year ...

  10. Business - Companies - EARNINGS

    Core profit rises 10.5pc at Yuexiu Property

    Posted Aug 27th 2014, 05:59pm by Peggy Sito

    ... year but estimates more than 26 per cent profit growth next year if Yuexiu adopts a flexible pricing strategy. Yuexiu is 49.8 per cent-controlled by Guangzhou Yuexiu, a state-owned enterprise wholly owned by the State-owned Assets Supervision and Administration Commission of the city government. Analysts believe the firm’s close relationship with the Guangzhou government facilitates ...




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