China Resources Enterprise (HK stock code: 0291) is a diversified group active in Hong Kong and China, importing mainland products to Hong Kong, and is a constituent stock of the benchmark Hang Seng Index. It has retail operations, including Vanguard supermarkets, and it owns Ng Fung Hong, a meat importer. It is a listed unit of conglomerate China Resources Holdings.
Over the week, as the political temperature remains high following the chief executive's second summer town hall meeting, this time at Kwun Tong, one lower profile development should not go unnoticed.
Song, serving 14 years in jail for embezzling public assets worth more than 9.74 million yuan, has justice of the peace title revoked
Supermarket operator China Resources Enterprise (CRE) sank into a HK$71 million loss for the third quarter, compared with a profit of HK$920 million for the same period last year.
China Resources Enterprise said consolidated net profit fell 8.7 per cent year on year to HK$929 billion in the first half.
Li Ka-shing's determination to cash out of the AS Watson retail businesses after his recent setback in offloading his ParknShop supermarket assets is likely to meet the same problem: buyer resistance on price.
China Resources Enterprise (CRE), the state-backed retail and beer conglomerate, is evaluating options for its meat distribution unit in Hong Kong that could include a sale, said two people with knowledge of the matter.
Top British retailer Tesco will pay HK$4.33 billion to gain 20 per cent of a venture with China Resources Enterprise that will run supermarkets and other stores on the mainland and in Hong Kong.
The campaign to curb extravagant spending by mainland officials and rising material costs took a toll on China Resources Enterprise, which saw a more than 60 per cent drop in net profit in the first three months of the year.