Capital Market

China Conglomerates Lined up for New Bonds

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  China Evergrande Group said yesterday it issued USD500 million 7.0% senior notes due 2020 and USD1 billion 8.25% senior notes due 2022. The company said it intends to use to refinance existing indebtedness after deducting the underwriting discounts and commissions and other estimated expenses payable in connection with the notes issue. Approval in-principle has been received […]

China

China October Trade Data

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China’s October exports contracted by 7.3% from a year earlier to USD 178.1 billion on USD term based calculation, an improvement from September’s 10% decline, customs data showed Today. Imports fell 1.4 percent to USD129.1 billion, compared with the previous month’s 1.9% decline. Exports for the first 10 months of this year are down 7.7% from […]

Company

Fashion Brands Operator I.T Annual Result 2016

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I.T Limited reported gross profit grew by 9.0% to HK$2,209.2 million, while gross profit margin increased by 0.9 percentage point to 60.6% amid difficult times and promotional headwinds. Total turnover increased by 7.4% to HKD3.64billion.     The company says the operating environment of the fashion retail business in the first half of the fiscal year […]

Company

HK Fashion Brand Company Sees Luxury Fashion Demand Dip

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Sitoy Group Holdings Limited (the “Company”, together with its subsidiaries, the “Group”; stock code: 1023), a brand management and retailer, and large-scale outsourced manufacturer of luxury handbags, small leather goods and travel goods, is pleased to announce today its annual results for the financial year 2015/2016 (“FY2016”).   During FY2016, the Group’s revenue decreased by […]

Capital Market

HKEx To Rule Volatility Control Scheme

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Hong Kong Exchanges and Clearing Limited (HKEX) is set to roll out its Volatility Control Mechanism (VCM) – a measure designed to protect market integrity by preventing extreme price volatility arising from major trading errors and other unusual incidents – in its securities market on Monday, 22 August 2016. Many international exchanges have a mechanism […]