Company Report: Geely, CCB, Huaxia

China Bond 50 Index-listed carmaker issues new shares; bank suspends risky commodity trades; lender reports higher Q1 profit, revenue

by Nadeem Xu
Company Report: Geely, CCB, Huaxia
A TV ad promoting Geely Cars in China.

(ATF) Geely Group, a Hong Kong-listed automobile maker, issued 1.5 million ordinary shares Monday due to the exercise of share options by other eligible participants of the group under the share option plan adopted in 2012.

The newly issued shares accounted for 0.016% of all issued shares in the ATF China Bond 50 Index constituent. 

The issue price was HK$4.08 (53 US cents) per share, a discount of 66.34% from the closing price of HK$12.12 per share on April 29. Shares of Geely closed 4.68% up at HK$12.08 on Tuesday.


China Construction Bank, one of the four largest Chinese lenders, said in a statement that the bank will suspend all or part of its commodity trade services and change the processing time and rules for contracts that are going to expire when the international commodity prices are close to zero or negative.

The bank will not continue the automated position transfer set by its clients if trading of their contracts has been suspended. It said such a move was aimed at protecting the rights and interests of its clients.


Huaxia Bank, a medium-sized Chinese lender, saw stable growth in both profit and revenue in the first quarter, according to its latest earnings report to the Shanghai Stock Exchange Tuesday.

Profit rose 6.03% year-on-year to 6.44 billion yuan ($913 million) while net profit attributable to shareholders reached 4.84bn yuan, edging up 5.13 % from the previous year, the report said.

Meanwhile, the bank saw a 20.94% surge in revenue to 23.59bn yuan with interest income taking the lion's share.

Net interest income soared 34.19% to 17.57bn yuan, accounting for 74.5% of total revenue, the company said.