PRESS DIGEST - Top stories in Hong Kong and mainland China newspapers on February 16
These are the leading stories in mainland China and Hong Kong newspapers and websites on Friday. The South China Morning Post has not verified these stories.
Share prices of 16 companies listed in Shanghai and Shenzhen reached or passed 100 yuan by February 13, compared with just two a year ago. Only two of the 16 100-yuan stocks are listed on the main board – Guizhou Maotai, which is a manufacturer of strong spirit, and pharmaceutical products maker Pianzaihuang. The other 14 are listed on the SME board and the second board, reflecting strong interest in new and innovative industries. (China Securities Journal)
Mobile game developer Ourpalm Games announced acquiring stakes in three game companies for a total of 4.3 billion yuan, making it the largest acquisition in the gaming industry in China. The Shenzhen-listed company will issue new shares to no more than five investors to raise 1.1 billion yuan. Trading of the Beijing-headquartered company resumes on Monday, after being halted since July. (China Securities Journal)
Solar panel maker Hareon Solar Technology resumes trading in Shanghai on Monday after saying it is being investigated by the Jiangsu provincial securities regulatory commission. Trading of the company’s stock has been halted since February 2, after it reported an unexpected loss of 800 million yuan and its major shareholders were found to have cashed out for 2 billion yuan. (The Beijing News)
Several small and medium-sized brokers, including Guolian Securities and Qilu Securities, are planning to go public in Hong Kong, according to market sources. Guolian Securities will hand in application in April at the earliest. (Hong Kong Economic Journal)
Eight gaming rooms suspended business or shut down completely in Macau last month because of weak business, according to market insiders. More gaming rooms are expected to close after the Lunar New Year. (Apple Daily)
