Cathay Pacific Airways (HKG:0293) proposed a capital reduction of about HK$6.97 billion to offset a decline in distributable reserves following a recent share buyback, according to a Wednesday Hong Kong bourse filing.
Shares of the airline were down nearly 1% in Thursday morning trade.
The reduction will lower the company's share capital by the same amount, with the credit transferred to a capital reduction reserve account that will be treated as realized profit.
Shenzhen Huaqiang Industry (SHE:000062) forecasts an 80% to 120% rise in its net attributable profit to between 190 million yuan and 232.3 million yuan in the first quarter from 105.6 million yuan in the year-ago period, according to a Wednesday filing with the Shenzhen bourse.The electronic information products maker attributed the expected rise to an increase in revenue from its storage products, with shipments surging 250% year over year, the filing said.Shares decreased 2% during the midday break on Wednesday.
Shanghai International Airport (SHA:600009) reported higher passenger throughput at its two airports in March, according to a Wednesday filing with the Shanghai bourse.At the Pudong International Airport, passenger throughput rose 11% year over year to 7.4 million, while its cargo and mail throughput climbed 8.1% to 372,100 tons, and aircraft movements increased 4.7% to 47,395 flights.The Hongqiao International Airport saw a 6.1% year-on-year rise in passenger throughput to 4.4 million, while cargo and mail throughput inched up 0.3% to 35,700 tons, and aircraft movements increased 2.4% to 24,683 flights.
Hengyi Petrochemical's (SHE:000703) net profit attributable to shareholders in the first quarter skyrocketed 3,774% to 1.99 billion yuan from 51.5 million yuan a year earlier, according to a Shenzhen bourse filing on Wednesday.Earnings per share surged 2,600% year on year to 0.54 yuan from 0.02 yuan.The petrochemical producer's operating revenue rose 10% to 29.9 billion yuan from 27.2 billion yuan in the prior year.