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SCMP Reporter

stake sale helps boost cr power profit by 139pc

China Resources Power Holdings posted a 139 per cent jump in net profit to $2.85 billion   last year, as turnover soared 212 per cent to $5.92 billion.

ABN Amro utilities analyst Pierre Lau  said the result was largely boosted by a 1.1 billion yuan gain from the sale of a 10 per cent stake in Huaneng International Power Development. Stripping out the gain, its bottom line surged 47.11 per cent.

A final dividend of 10 cents  was recommended, up from 6.1 cents in 2004. A special dividend of six cents was also recommended.  Eric Ng

higher passenger demand lifts Guangshen Railway

Through-train service provider Guangshen Railway expects to benefit further from the mainland's relaxed travel policy after heavier traffic saw net profit increase 8.08 per cent to  613.36 million yuan  last year.

The H-share company increased the frequency of its Shenzhen-Guangzhou train services in response to  higher demand in the  region, boosting revenue from the operations 7.85 per cent to 3.27 billion yuan.

The company said the opening of the Disneyland theme park also helped spur the number of visitors crossing the border by train.

The final dividend was raised  one fen to  12 fen per share. Earnings per share climbed  one fen to 14 fen.

The group said its plan to issue 2.75 billion yuan-denominated A shares for funds to buy railway assets in Guangdong was still on track.Denise Tsang

container oversupply threatens cimc margins

China International Marine Containers (CIMC), the world's No1 container manufacturer, predicts growth in container demand this year but also warns that margins are likely to be squeezed due to oversupply.

CIMC, of which China Merchants and Cosco Pacific are major shareholders, reported 2.8 billion yuan profit for last year, up 13.89 per cent on 2004. Sales grew 16.49 per cent to 30.93 billion yuan but gross profit margins  fell to 16.5 per cent from 17.4 per cent.

The company said that due to the oversupply of dry containers, it would switch its focus to tank and refrigerated containers. Charlotte So

lijun international shifts drug focus

Mainland drugmaker Lijun International Pharmaceutical (Holding)  will focus on developing preventive drugs after the central government recently tightened regulations on retail sales of antibiotics, according to chairman Wu Qin.

The move comes after the Hong Kong-listed company recorded a 2.02 per cent drop in revenue to 884.7 million yuan for  last year, mainly  due to a decline in antibiotics sales to 667.1 million yuan. This figure accounted for 75.4 per cent of total turnover last year.

The company posted a 5.27 per cent increase in net profit to 93.31 million yuan.   A final dividend of  16 cents  per share was recommended.  Andy Cheng

Shineway Pharma eyes merger opportunities

China Shineway Pharmaceutical Group is looking at possible mergers and acquisitions this year as the mainland pharmaceutical industry  consolidates.

The  company saw profit  rise to 331.46 million yuan last year,  a gain of 27 per cent from 2004, which chairman Li Zhenjiang   said reflected the country's increasing wealth and greater health awareness. The group's turnover grew 18.16 per cent to 831.37 million yuan.

However, earnings per share of 40 fen were down two fen on the previous year.  Mr Li  attributed this to an increase in the number of shares from 617 million to 829 million as a result of the listing in December 2004.

A final dividend of 10 fen will be paid. Kandy Wong



Business Digest