-- AECC Aviation Power's (SHA:600893) net profit attributable to shareholders in the first quarter dropped 66% year on year to 2.6 million yuan from 7.5 million yuan, according to a Shanghai bourse filing on Tuesday.
Earnings per share fell to 0.0010 yuan from 0.0028 yuan.
Operating income, however, rose 15% year on year to 7.08 billion yuan from 6.16 billion yuan, the aerospace product distributor said.
Vala (HKG:2051) entered a model development agreement with a SAIC Motor (SHA:600104) unit to jointly develop a vehicle based on the latter's Dana model, the firm said in a Hong Kong bourse filing Monday.The credit card management firm's shares fell by more than 1% in Hong Kong, while SAIC shares slipped almost 1% in Shanghai in early afternoon trade Tuesday.Under the partnership, both sides will work to develop two versions of the vala house model: an all-electric version and an extended-range version.Vala will be primarily responsible for designing model customization schemes and developing relevant specialized components, while SAIC Maxus RV Technology will be primarily responsible for vehicle technical verification and manufacturing.
HMA Agro Industries (NSE:HMAAGRO, BOM:543929) has agreed to sell its entire stake in its non-operational wholly-owned subsidiaries, FNS Agro Foods and Laal Agro Food, to individual buyers, according to a Tuesday filing to the Indian stock exchanges.The company will sell its entire stakeholding in FNS Agro Foods, comprising 895,593 equity shares of face value of 10 rupees each, and 9,999 equity shares of face value of 10 rupees each of Laal Agro Food.Both transactions are expected to be completed by May 30, after which the two arms will no longer be subsidiaries of the company.
H2G Green's (SGX:5AI) subsidiary, GasHubUnited Utility, commissioned a major liquefied natural gas facility in Singapore, according to a Monday filing with the Singapore Exchange.Shares of the energy solutions company surged nearly 17% in Tuesday trading.The contract was secured from a large-scale laundry provider which operates over 12,000 square meters of production across three plants.The unit will design, construct and commission the facility to support the laundry provider's thermal energy needs.