Cheung Ho Intl 0009

[winston]

not vested

CHEUNG WO IHL (00009.HK) expects interim results to swing into profit

CHEUNG WO IHL (00009.HK) -0.010 (-1.613%) issued a positive profit alert expecting the group to record a consolidated net profit in the six months ended 30 June 2014 as compared to a consolidated net loss for the six months ended 30 June 2013.

The group said the net profit was mainly attributable to the share of the results of an associate from the box-office takings and distribution of the movie “3D Monkey King” which was shown in early 2014.

Source: AAStocks Financial News

[winston]

not vested

Cheung Wo shares soar after disclosure by Jennifer Li

Cheung Wo International Holdings (0009), a mainland property developer and movie maker, saw its shares soar more than 119 percent yesterday after it disclosed that Central Huijin Investment now holds 68.39 percent of the firm.

A subsidiary of China Construction Bank Corporation (0939) acquired for the first time 1.02 billion shares of the firm on April 28 without disclosing any price.

The transaction led CCB's parent Central Huijin Investment to become the controlling shareholder of Cheung Wo.

The stock surged yesterday on speculation the Central Huijin may use the firm as a shell to list its subsidiary.

"The board is not aware of any reasons for these price and trading volume movements or any information which must be announced to avoid a false market in the company's securities," Cheung Wo chairman Jin Lei said in the statement to the local bourse yesterday afternoon.

However, the clarification did not help calm the market as Cheung Wo shares ended at HK$1.23, up 73.24 percent, with a rarely-seen trading volume of HK$306 million.

Central Huijin holds substantial stakes in China's biggest four banks, as well as big names in the domestic financial industry.


Source: The Standard HK