Credit Suisse stated in its report that the third quarterly results of CHINA RAILWAY (00390.HK) -0.090 (-1.860%) Short selling $11.55M; Ratio 17.996%
was in concordance with estimates. The revenue was increased steadily
during the period, with a year-on-year growth of 13%. As benefited by
improving profit margin on railway and metro business, the overall
profit margin hedged up 1 percentage point to 8.3%. The broker
considered that the supportive governmental policies of the PRC
government and improving financial management will enhance the stable
earnings growth of China Railway. The target price was lifted from $5.05
to $6.2 correspondingly, maintaining the rating of Outperform.
UCD (01599) plans to raise Rmb600m from A shares issue Beijing Urban Construction Design & Development Group (UCD) (01599) said it proposes to apply for initial public offering of Renminbi ordinary shares and listing. The number of public issuance of shares amounts to not more than 149.86 million shares. The issuance price of A shares shall not be lower than Rmb2.91 per share. The total proceeds raised from the issuance of A shares amount to Rmb600 million, which will be used for upgrading and reconstructing project of the design centre, the national engineering...
Comments
Post a Comment