WE WILL REAP A HARVEST IF WE DON'T GIVE UP !!! 

IT WILL BE YOUR LOSS IF YOU ARE STILL WAITING !!!

IT IS TIME TO COME ON BOARD    

BLUE MARLIN 

WE WILL REAP A HARVEST IF WE DON'T GIVE UP !! 

IT IS THEIR LOSS IF YOU ARE STILL WAITING TO COME ON BOARD !!! 

CHINA - HK

ICBC (1398) reported 3Q net income of 67.2B yuan (vs 69.4B yuan expected, 62.4B yuan a year earlier) and 9-month net income up 10.7% to 205.8B yuan. The Bank pointed out: " (9-month) Annualised return on average total assets was 1.51%, keeping the same on a year-on-year basis. Annualised return on weighted average equity was 23.00%, representing a decrease of 1.24 percentage points compared to the previous year. (...) Net interest income was RMB327,636M, representing a YoY increase of 5.22%. Net fee and commission income was RMB95,503M, representing a YoY increase of 19.85%. (...) The NPL (non-performing loans) ratio was 0.91%, representing an increase of 0.06 percentage points compared to the end of last year. (...) The core tier-one capital adequacy ratio was 10.59%, the tier-one capital adequacy ratio was 10.59%%and the capital adequacy ratio was 13.17%, all meeting regulatory requirements."

Bank of China (3988) posted 3Q net income up 13.9% YoY to 39.5B yuan and 9-month net income up 13.2% YoY to 120.2B yuan. The Bank said: " (9-month) Return on average total assets (ROA) and return on average equity (ROE) stood at 1.27% and 18.66%, increasing by 0.08 and 0.53 percentage point respectively compared with the prior year. (...) The Group's net interest income amounted to RMB208.205B, representing an increase of RMB18.761B or 9.90% compared with the same period of 2012. (...) The Group's non-interest income amounted to RMB97.246B, representing an increase of RMB17.351B or 21.72% (...) The Group's impairment losses on assets amounted to RMB18.652B, an increase of RMB5.026B or 36.89% compared with the same period of 2012. Particularly, the impairment losses on loans and advances amounted to RMB18.235B, an increase of RMB4.566B or 33.40% (...) the ratio of non-performing loans to total loans was 0.96%."

BOC Hong Kong (2388) said net operating income (before impairment allowances) fell 2.3% YoY to HK$9.7B in 3Q and was up 9.4% to HK$29.5B in January-September.

Agricultural Bank of China (1288) announced 3Q net income up 15.3% YoY to 45.6B yuan and 9-month net income up 14.9% to 138.0B yuan. 9-month net interest income rose 8.7% to 275.6B yuan and net fee & commission income was up 15.8% to 67.3B yuan. Non-performing loan ratio was 1.24% at end-September, down 0.09 percentage point as compared to end-2012.

Bank of Communications (3328) posted 3Q net income up 3.4% YoY to 13.9B yuan (vs 15B yuan expected) and 9-month net income up 9.4% to 48.7B yuan.

China Minsheng Banking Corp (1988) reported 3Q net income up 6.3% YoY to 10.4B yuan (vs 10.7B yuan expected) and 9-month net income up 15.6% to 33.3B yuan.

China Pacific Insurance Group (2601) said 3Q net income surged to 2.6B yuan from 497M yuan in the previous year and 9-month net income was up to 8.1B yuan from 3.1B yuan.

New China Life Insurance (1336) announced that 9-month net income surged 70.0% YoY to 4.0B yuan.

Chalco (2600) posted 3Q net loss of 1.2B yuan vs a net loss of 1.1B yuan a year earlier. 9-month net loss narrowed to 1.8B yuan from 4.3B yuan in the previous year.

Zoomlion Heavy Industry Science and Technology (1157)'s   3Q net income fell 33.6% YoY to 889M yuan and 9-month net income dropped 45.5% to 3.8B yuan.

Huadian Power International Corp (1071) reported that 9-month net income soared to 2.9B yuan from 415M yuan a year earlier.

Shanghai Electric Group (2727) posted 9-month net income down 28.3% YoY to 2.1B yuan.

China Communications Construction (1800) unveiled 9-month net income up 16.6%  YoY to 8.1B yuan.

China Railway Group (390) said 9-month net income surged 46.4%  YoY to 6.3B yuan.

China Railway Construction (1186) announced 9-month net income up 37.5%  YoY to 7.0B yuan.

Sinopec Yizheng Chemical Fibre (1033) said 9-month net loss widened to 692M yuan from 290M yuan a year earlier.

Guangzhou Automobile (2238) posted 9-month net income up 22.0%  YoY to 2.2B yuan.

China National Materials (1893) reported 9-month net income up 13.7%  YoY to 347M yuan.

China Cosco Holdings (1919) announced that 9-month net loss narrowed to 2.0B yuan from 6.4B yuan in the previous year.

China Southern Airlines (1055) unveiled 9-month net income down 7.7% YoY to 2.5B yuan.

Tsingtao Brewery (168) said 9-month net income grew 28.7%  YoY to 2.2B yuan.

Haier Electronics (1169) announced that 9-month net income rose 18.6%  YoY to 1.4B yuan.

Citic Securities (6030) posted 9-month net income up 26.6%  YoY to 3.7B yuan.

China Longyuan Power Group Corp (916): 3Q results expected.

CSR Corp (601766: +8.67% to RMB 4.89) and China CNR Corp (601299: +8.66% to RMB 5.52) closed at a 3-month relative high against the CSI 300.

Utilities: SDIC Huajing Power Holdings (600886: +9.7% to RMB 4.41), Inner Mongolia MengDian HuaNeng Thermal Power Corp (600863: +5.82% to RMB 4) and Huadian Power International Co (600027: +4.91% to RMB 3.42) reached a new 3-month relative high against the CSI 300.