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HKG:2039

9 stories mentioning HKG:2039Updated 2d ago

Every FINWIRES story that references HKG:2039, newest first.

Asia

CIMC to Raise Stake in CIMC Tianda to 83.73%; Shares Up 5%

China International Marine Containers (SHE:000039, HKG:2039) or CIMC, will acquire Expedition Holding's 18.07% stake in airport and fire equipment subsidiary CIMC Tianda for about HK$784.0 million, according to a Wednesday filing with the Shenzhen bourse.The acquisition will increase the company's ownership interest in CIMC Tianda to 83.73% from 65.66%.The move is subject to board approval.Shares of the shipping equipment manufacturer were up nearly 5% in recent trade.

HKG:2039SHE:000039
Asia

CIMC Shareholder Reduces Stake, Loses Status as Major Shareholder

China International Marine Containers (SHE:000039) or CIMC shareholder CITIC-Prudential Life Insurance reduced its stake in the shipping equipment company to below 5% and is no longer considered a major shareholder, according to a Thursday filing with the Shenzhen bourse.CITIC-Prudential Life Insurance sold about 23 million A shares in CIMC, equivalent to a 0.34% stake in the shipping equipment company.Following the sale, CITIC-Prudential now holds 4.9999987% of the company.

HKG:2039SHE:000039
Asia

CIMC Buys Back HK$127 Million in Shares

China International Marine Containers, or CIMC, (SHE:000039, HKG:2039) completed its second batch of H-share repurchases, buying back 14.2 million shares at HK$127 million between May 26 and June 15.Together with the first batch, CIMC has repurchased a total of nearly 80 million H shares, according to a Tuesday filing with the Shenzhen bourse.Shares of the shipping equipment provider were down 2% in recent trade.

HKG:2039SHE:000039
Asia

CIMC Buys Back Shares for HK$500 Million; Shares Jump 3%

China International Marine Containers (HKG:2039, SHE:000039) repurchased 65.8 million H shares for HK$498.7 million, according to a Hong Kong filing on Tuesday.The Chinese shipping equipment provider's Shenzhen shares jumped 3% during Wednesday's afternoon trade.The shares represents 2.2% of the company's total H share capital.

HKG:2039SHE:000039
Asia

US Justice Department Charges CIMC With Price Fixing; Hong Kong Shares Down 10%

The U.S. Department of Justice (DOJ) has charged China International Marine Containers (HKG:2039, SHE:000039) and several of its executives with price-fixing standard, unrefrigerated shipping containers, according to a Hong Kong stock exchange filing on Wednesday.Shares of the container manufacturer plunged 10% in Hong Kong, while its Shenzhen-listed shares fell more than 8% in recent trade.According to the DOJ, the alleged price manipulation took place between November 2019 and January 2024. During this period, the prices of standard shipping containers doubled between 2019 and 2021, driving CIMC's container segment profits up nearly one hundredfold over the course of the COVID-19 pandemic.The DOJ indicted CIMC Chairman Mai Boliang and Vice President Huang Tianhua, while an employee, Wan Yongbo, was also named for his alleged involvement in the conspiracy.Additionally, Vick Nam Hing Ma, a marketing director at co-conspirator firm Singamas Container Holdings, has been arrested in France and is currently awaiting extradition to the U.S.

HKG:2039SHE:000039
Asia

Jangho's Units Bag Projects in Singapore, China

Jangho Group's (SHA:601886) units won construction bids from Singapore's Woh Hup and from China International Marine Containers (HKG:2039, SHE:000039).The unit, Jianghe Curtain Wall (Singapore), bagged Woh Hup's curtain wall project at the Marina Bay Sands Integrated Resort 2 for SG$123 million, according to a Wednesday filing on the Shanghai bourse.Another subsidiary, Guangzhou Jangho Curtain Wall System Engineering, won CIMC's curtain wall project for Plot T102-0438 (Qianwan Area 09-04-01 Parcel) in Shenzhen for 205 million yuan.The Chinese construction engineering company's shares rose over 2% at the close.

HKG:2039SHA:601886SHE:000039
Asia

China International Marine Containers' Profit Falls 62% in Q1

China International Marine Containers (HKG:2039, SHE:000039) posted attributable net profit of 209 million yuan for the first quarter, down 62% from 543.8 million yuan a year earlier, according to a Tuesday Hong Kong bourse filing.Hong Kong-listed shares of the shipping equipment provider were up over 4% in Wednesday midday trade.Earnings per share declined to 0.0353 yuan from 0.0971 yuan a year earlier.Revenue fell 9.3% to 32.7 billion yuan from 36.0 billion yuan in the prior-year period.

HKG:2039SHE:000039
Asia

China International Marine Containers Settles Goodpack Dispute; Hong Kong Shares Slip 4%

China International Marine Containers (HKG:2039, SHE:000039) settled its dispute with Goodpack and entered into a sales contract worth up to $60 million, according to an April 17 Hong Kong bourse filing.Hong Kong-listed shares of the shipping equipment provider were down over 4% in Monday morning trade.Under the deal, a subsidiary will pay $2 million, while Goodpack will purchase intermediate bulk containers with a three-year interest-free credit period on each order.The dispute stemmed from claims filed in Singapore involving alleged breach of confidence and related damages totaling nearly $29.7 million across litigation and arbitration proceedings.The company said the settlement is not expected to have a material impact on its profit.

HKG:2039SHE:000039
Asia

China International Marine Containers Warns of Up to 70% Drop in Q1 Profit

China International Marine Containers (Group) (HKG:2039, SHE:000039) expects an attributable profit of between 164 million yuan and 224 million yuan in the three months ended March 31, down 59% to 70% from 543.8 million yuan a year prior, according to a Friday Hong Kong bourse filing.The shipping equipment provider attributed the forecast mainly to a lower volume and pricing of its container manufacturing business in the quarter, leading to a drop in revenue in the segment.

HKG:2039SHE:000039

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