By Russell Flannery, Forbes Staff Xiao Nan Guo Restaurants of Shanghai, one of China’s largest mid-range restaurant chains with more than 70 stores, expects to report a “significant decline” in its net profit for the first half of the year, the company said in a statement after the end of trading at the Hong Kong Stock Exchange on Friday. …read more
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By Russell Flannery, Forbes Staff Shares in AAC Technologies Holdings, a maker of miniature electronics products for smartphones, tablets and other devices that is a supplier to Apple, jumped 8.2% at the Hong Kong Stock Exchange today after the company yesterday posted a 70% rise in 2012 net profit to 1.8 billion yuan, or $284 million. Sales rose 55% to 6.3 billion yuan. …read more
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By Russell Flannery, Forbes Staff Shares in GCL-Poly, controlled by the last billionaire standing in China’s hemorrhaging solar industry, fell by 3.8% at the Hong Kong Stock Exchange on Friday after the company said it lost HK$3.5 billion, or $452 million, last year. …read more
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By Russell Flannery, Forbes Staff Shares in Want Want China, the beverage and Chinese-style snack food producer controlled by Taiwan’s billionaire Tsai Eng-Meng climbed by 3.6% to close at an all-time high at the Hong Kong Stock Exchange today after the company announced a 32% increase in net profit for 2012. …read more
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By Russell Flannery, Forbes Staff Financially ailing Chinese sportswear maker Li Ning will raise as much as $240 million through a convertible bond sale that would increase its outstanding shares by 50%, the company said in a statement posted at 6 a.m. at the Hong Kong Stock Exchange today.
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