Hmm... been 4 months since I started on my investing journey, and I've learnt immensely in this period.
Before, I don't even know that they do things like halt trading before announcing important information. I don't know what's ex-div, cum-div, rights issue, bonus issue, stock-split, etc...
Now, I really feel that I'm a small owner of the company. I subscribed their announcements on proposed acquisitions, contracts and awards, change in ownership and of course their quarterly earning reports. It's quite fun actually.
Anyway....
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CMP just announced their 1st half results.
1. They intend to purchase a new expressway - the 48km "Jiurui Expressway" (江西省九江至瑞昌 高速公路) located in Jiangxi. This will increase their "road assets" from 367km to 415km.
2. The Jiurui expressway is newly opened (in 2011) with promising growth in traffic after the surrounding construction completes from 2014 to 2017. It will provide toll revenue for the next 26 years! (Current charges for using the expressway is 0.45RMB/km.)
3. Addition good news: The company will issue shares at $0.985 (which is a premium to its existing price) to fund the purchase.
4. For Q2 results, toll-road net profit increased by 8%. They've announced an interim dividend of 3.5 cents, which is 27% higher than last year! (That's $35 per lot!)
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