Online Games Monthly - September 2, 2010

Thu, 02 Sep 2010 11:43:53 GMT

Factors Driving the Steep Increase in Chinese Poly Prices - September 2, 2010

Thu, 02 Sep 2010 11:29:44 GMT

Real Estate: Developers Overview - September 2, 2010

Thu, 02 Sep 2010 10:42:09 GMT

The China Report: Bank Lending Survey - August Update

Thu, 02 Sep 2010 10:17:41 GMT

Real Estate Weekly - September 2, 2010

Thu, 02 Sep 2010 10:16:41 GMT

Sina to Spin Off Microblog Service

Thu, 02 Sep 2010 09:55:51 GMT

Sina (Nasdaq:SINA) is planning to spin off its microblogging service for independent operation, Sohu reported September 2 citing unnamed sources. The company seeks an investment from an internet company to support the development of the microblogging service as well as investments from venture...

Hopson Buys Shanghai Land for RMB 1.25b

Thu, 02 Sep 2010 09:52:43 GMT

Guangdong-based real estate developer Hopson Development Holdings (0754.HK) plans to acquire 94,476.3 square meters of residential land in Shanghai for RMB 1.25 billion, guandian.cn reported September 1st. Hopson previously...

Ping An Buys Majority SDB Stake

Thu, 02 Sep 2010 09:49:24 GMT

Ping An Insurance (Group) (2318.HK, 601318.SH) will acquire 1.64 billion shares in Shenzhen Development Bank (SDB) (000001.SZ), raising its interest in the lender to 52.39% from 29.99%, according to a Ping An announcement on September 2. As consideration for the deal, Ping An insurance...

PBoC Returns RMB 70b to Market

Thu, 02 Sep 2010 09:43:55 GMT

The People's Bank of China (PBoC) injected a net of RMB 70 billion into money markets in its regular open market operations this week, xinhuanet.com reported September 2. The central bank sold three-month bills worth a total of RMB 13 billion at a rate of 1.5704% on Thursday, September 2, according...

A-Shares Up, Buoyed by Industrial and Pharma Cos

Thu, 02 Sep 2010 09:00:45 GMT

The Shanghai Composite Index increased 1.25% to close at 2,655.78, while the Shenzhen Composite Index climbed 1.84% to end at 1,172.34 on Thursday, September 2. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 12.41 billion and 8.80 billion, respectively. Metallurgical products manufacturer...

HSI Expands, Boosted by Airlines, Banks

Thu, 02 Sep 2010 09:00:06 GMT

The Hang Seng Index gained 1.19% to close at 20,868.92 on Thursday, September 2, in main board trading turnover of HK$66.13billion. The Hang Seng China Enterprises Index increased 1.65% to end at 11,688.84. Airlines gained today, with Air China (0753.HK, 601111.SH) gaining 4.33%, Cathay Pacific (0293.HK)...

Peak Q2 SSS at 12.5% YoY, Profit Margins Decline to 37.7%

Thu, 02 Sep 2010 07:56:32 GMT

Sportswear manufacturer and retailer Peak Sport Products' (1968.HK) Q1 and Q2 same store sales (SSS) growth stood at 15.3% and 12.5%, respectively, year-on-year, reported Sina September 1. In the first half of 2010, Peak's revenues grew by 33.3% to RMB 1.81 billion and net income grew by 29.6%...

MoC Heads Game Deputation to Taiwan

Thu, 02 Sep 2010 06:49:51 GMT

China's Minister of Culture Cai Wu will lead a team of game industry senior executives including Shanda (Nasdaq:SNDA) President Tan Qunzhao, Giant Interactive (NYSE:GA) Vice Director Wen Xuhua and Kingsoft (3888.HK) Vice President Bi Zhenhua to Taiwan on Thursday, September 2, where...

Shanda Games Releases "AION" New Version

Wed, 01 Sep 2010 09:32:14 GMT

Shanda Interactive (Nasdaq:SNDA) game subsidiary Shanda Games (Nasdaq:GAME) has released "Heise Baofeng" (roughly "Black Storm"), a new version of its licensed 3D MMORPG AION, on September 1, qq.com reports. The version features new fighting rules and weapons, according to the report....

LDK Sues Canadian Solar for Default on 800MW Contract

Wed, 01 Sep 2010 09:31:52 GMT

LDK Solar (NYSE:LDK) has filed a lawsuit demanding compensation from Canadian Solar (Nasdaq:CSIQ) for the breach of a 10-year supply contract signed in 2008, LDK announced September 1. Under the agreement, LDK planned to supply 800MW of solar wafers to Canadian Solar through 2018, with...

China August PMI Rebounds to 51.7

Wed, 01 Sep 2010 09:30:41 GMT

China's Purchasing Managers' Index (PMI) for August stood at 51.7, 0.5 point higher than July, according to data released by China Federation of Logistics and Purchasing (CFLP) August 31. HSBC's China Manufacturing PMI was 51.9 in August, up from 49.4 in

Baolongcang Stores Close for Renovation

Wed, 01 Sep 2010 09:22:47 GMT

Hebei-based Baolongcang has been closing stores in groups for renovation following the company's acquisition by French retailer Carrefour (EPA:CA) from August 28 onwards, Hebei Daily reports. The company's stores are expected to be all re-opened by the middle of October, the report said. Carrefour...

Wu-Mart to Open Ningxia Store

Wed, 01 Sep 2010 09:20:48 GMT

Beijing retail group Wu Mart (8277.HK) plans to open a store in Yinchuan, capital of Ningxia Province on September 16, linkshop.com.cn reported September 1. Wu Mart acquired a stake in Yinchuan Xinhua Department Store (600785.SH) for RMB 176.7 billion in April 2006, becoming the company's...

Taobao Bans Promotions of QQ Numbers

Wed, 01 Sep 2010 09:19:12 GMT

Alibaba's consumer-focused e-commerce site Taobao.com has released a notice to users of its promotional service "Taobao Zhitongche," requiring them to remove all information or promotions regarding account numbers for Tencent's (0700.HK) instant messaging service QQ before August 31, according...

Coolpoint Energy to Acquire 31% of Li Ning

Wed, 01 Sep 2010 09:18:44 GMT

Medicinal products distributor and energy saving air-conditioners provider Coolpoint Energy (8032.HK) has acquired approximately 30.9% of sportswear company Li Ning (2331.HK), Coolpoint announced August 31. After the acquisition, Coolpoint Energy will provide services for product endorsements,...

Tesco Shuts Underperforming Wuxi Store, Plans Return

Wed, 01 Sep 2010 09:05:05 GMT

UK retailer Tesco (LSE:TSCO) announced plans to close its Wuxi, Jiangsu Province store on September 5, Modern Express reported September 1. The store recorded daily transactions of roughly RMB 200,000, compared with minimum operating requirement of RMB 300,000 per day for a store of 8,000 to 10,000...

A-Shares Slip; New Energy, Property Cos Slump

Wed, 01 Sep 2010 09:00:52 GMT

The Shanghai Composite Index dipped 0.6% to 2,622.88, while the Shenzhen Composite Index declined 1.31% to end at 1,151.17 on Wednesday, September 1. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 12.72 billion and 9.36 billion, respectively. New energy companies retreated, with...

H-Shares Edge Up; Construction, Resources Ahead

Wed, 01 Sep 2010 09:00:11 GMT

The Hang Seng Index gained 0.43% to close at 20,623.83 on Wednesday, September 1, in main board trading turnover of HK$56.52 billion. The Hang Seng China Enterprises Index increased 0.84%. Construction companies gained, with cement producers Luks Group (0366.HK) and Anhui Conch (0914.HK, 600585.SH)...

Longfor Buys Hangzhou Land Parcel for RMB 610m

Wed, 01 Sep 2010 05:32:42 GMT

Chongqing-based real estate developer Longfor Properties (0960.HK) has acquired a 118,051-square-meter parcel in Hangzhou, Zhejiang Province for RMB 610 million, guandian.cn reported August 31. The plots have been approved for commercial and residential use, according to the report. Longfor...

SDO to Launch Developer Competition in Sept

Wed, 01 Sep 2010 05:08:14 GMT

Shanda Interactive (Nasdaq:SNDA) division Shanda Online Holdings (SDO) will hold a developer competition for Shanda's late August-launched open platform as part of their "Shengxing Plan" that will launch in September, Sina...

Tencent to Release "DNF" 9th Chapter

Wed, 01 Sep 2010 03:13:54 GMT

Tencent (0700.HK) plans to release the ninth chapter of its licensed side-scrolling casual game Dungeon and Fighter (DNF) in September, according to a posting on the game's official site on August 31. The company released the game's

NetEase's "WLK" Takes Off

Wed, 01 Sep 2010 03:09:25 GMT

NetEase (Nasdaq:NTES) has officially released "Wrath of the Lich King" (WLK), the second expansion of its licensed 3D MMORPG World of Warcraft, in mainland China, Netease announced August 31. Players can play up to 80 levels, explore new areas and dungeons and gain more powerful skills,...

A First Look at NetEase's "WLK" - August 31, 2010

Tue, 31 Aug 2010 12:08:34 GMT

Real Estate: Market Overview - August 31, 2010

Tue, 31 Aug 2010 09:58:52 GMT

Chinese Banks First Half Profits Expand 30% YoY

Tue, 31 Aug 2010 09:50:16 GMT

China's 16 listed banks reported combined net income of RMB 343.4 billion in the first half of 2010, representing an increase of more than 30% year-on-year, China Business News reported August 30. Among the 16 banks are included the Agricultural Bank of China (ABC) (1288.HK, 601288.SH), which...

Alibaba.com (1688.HK) Monthly - August 31, 2010

Tue, 31 Aug 2010 09:26:41 GMT

Sinopec to Charge Electric Car Batteries

Tue, 31 Aug 2010 09:20:56 GMT

China Petroleum and Chemical Corporation (Sinopec) (NYSE:SNP, 0386.HK, 600028.SH) plans to develop a electric car battery charging service in its existing gas station network, reports National Business Daily on August 31 citing company President Su Shulin. In October, China will release official...

A-Shares Indices Mixed in Rising Volumes

Tue, 31 Aug 2010 09:00:33 GMT

The Shanghai Composite Index declined 0.52% to close at 2,638.80, while the Shenzhen Composite Index added 0.72% to end at 1,166.50 on Tuesday, August 31. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 11.09 billion and 8.50 billion, respectively. Shares in Nanning Department Store...

Hang Seng Index Slides, Banks Weigh

Tue, 31 Aug 2010 09:00:20 GMT

The Hang Seng Index fell 0.97% to close at 20,536.49 on Monday, August 30, in main board trading turnover of HK$56.89 billion. The Hang Seng China Enterprises Index declined 1.12% to 11,402.9. Big-cap banks retreated, with Bank of China (3988.HK, 601988.SH) losing 1.76%, CITIC Bank (0998.HK, 601998.SH)...

Report: NEA Approves NW China PV Tenders

Tue, 31 Aug 2010 08:59:36 GMT

China's National Energy Administration has approved bids submitted for a series of 13 photovoltaic power projects in northwestern Chinese regions and will release detailed results of the bidding soon, Solarbe.com reports August 31. According to the report, a subsidiary of China Power Investment Corporation...

MOFCOM Releases E-commerce Report for '08-'09

Tue, 31 Aug 2010 07:39:17 GMT

China's e-commerce trading volume reached RMB 3.1 trillion in 2008 and RMB 3.8 trillion in 2009, according to a report released by the country's Ministry of Commerce (MOFCOM) on August 30. Online shopping trading volume in the two years amounted to RMB 125.7 billion and RMB 258.6 billion, respectively,...

Noah Ends Year With 94% Reduction in Profits

Tue, 31 Aug 2010 06:34:38 GMT

Shenzhen-based electronic dictionary and mobile learning device maker Noah Education (NYSE:NED) reported net income for fiscal 2010, ended June 30, of RMB 5.7 million, down 94.2% year-on-year and representing diluted earnings per share of RMB 0.14 ($0.02). The company's full year fiscal 2010 revenues...

Suning Profits Up 56%, SSS Up 23% YoY in H1

Tue, 31 Aug 2010 04:43:02 GMT

Home appliance and electronics retailer Suning (002024.SZ) generated revenue of RMB 36.06 billion in the first half of 2010, up 31.90% annually, Suning announced August 31. Net income reached RMB 1.97 billion, up 56.03% year-on-year, according to the announcement. The company recorded same store...

Retail: Department Stores Monthly - August 30, 2010

Mon, 30 Aug 2010 11:18:58 GMT

Baidu (BIDU) Data Weekly - August 30, 2010

Mon, 30 Aug 2010 10:21:08 GMT

Tencent "QQ Speed" PCU Hits 1.4m

Mon, 30 Aug 2010 09:35:54 GMT

Tencent (0700.HK) recorded peak concurrent users (PCU) of 1.4 million on August 14 for its in-house developed Q-style 3D online car racing game QQ Speed, according to a posting on the game's official site on August 30. The company plans to release a new version, "Yingzi Chuanshuo," for...

CPIC H1 Profits Jump 67% YoY

Mon, 30 Aug 2010 09:35:16 GMT

China Pacific Insurance (Group) (CPIC) (2601.HK, 601601.SH) made net income of RMB 4.02 billion in the first half of the year, representing an increase of 66.8% compared to the same period last year, the company reported August 29. The insurer recorded gross written premiums for the six-month...

NetEase to Open New Servers for "WLK"

Mon, 30 Aug 2010 09:34:00 GMT

NetEase (Nasdaq:NTES) plans to open an additional ten server groups for its licensed 3D MMORPG World of Warcraft on August 31, the day of the release of the game's second expansion, "Wrath of the Lich King" (WLK), according to a posting on the game's official site on August 28. NetEase...

Giant Slates "ZT" Update

Mon, 30 Aug 2010 09:27:52 GMT

Giant Interactive (NYSE:GA) plans to release "Rexue Zhengtu," a new expansion pack for the classic version of its in-house developed MMORPG ZT Online, on September 3, 17173.com reported August 29. The expansion features three new playing modes, said the report.

Changyou to Test "Chinese Hero" Intl Version

Mon, 30 Aug 2010 09:25:16 GMT

Sohu's (Nasdaq:SOHU) online gaming subsidiary Changyou (Nasdaq:CYOU) plans to start limited testing of its martial arts MMORPG Chinese Hero: International Version on September 15, it announced on the game's official site on August 30. The company will start issuing activation codes...

Gome: Beijing Gome Threatens to Terminate Agreement

Mon, 30 Aug 2010 09:21:26 GMT

Home appliances and electronics retailer Gome (0493.HK) ex-Chairman Wong Kwong Yu's (Huang Guangyu) Beijing Gome Electrical Appliance has threatened to terminate procurement and management arrangements with Gome if the listed company fails to adopt resolutions at a special general meeting proposed...

Taobao Plans Home Deco Channel

Mon, 30 Aug 2010 09:21:01 GMT

Alibaba's consumer-focused e-commerce site Taobao.com is planning a third vertical channel for home decoration products and services, DoNews reported August 27 citing unnamed sources. The site, jia.taobao.com, currently redirects automatically to the home deco subchannel of Taobao's business-to-client...

R&F Acquires Hainan Land for RMB 227.2m

Mon, 30 Aug 2010 09:20:01 GMT

Guangdong-based real estate developer R&F Properties (2777.HK) has acquired a 15,413.97-square-meter residential land parcel in Haikou, Hainan Province for RMB 227.2 million, guandian.cn reported August 30. R&F Properties generated net income of RMB 700.95 million in the first half of 2010,...

ABC H1 Profit Growth Tops 40%

Mon, 30 Aug 2010 09:17:27 GMT

Agricultural Bank of China (ABC) (1288.HK, 601288.SH) made net profit of RMB 45.86 billion in the first six months of 2010, up 40.2% year-on-year, the lender reported August 27. The bank recorded an 11.4% growth in deposits during the six months to reach RMB 8.35 trillion, while loans expanded...

SAFE Allows Trial Offshore Deposits for Exporters

Mon, 30 Aug 2010 09:12:23 GMT

The State Administration of Foreign Exchange will allow exporters which record revenue in foreign currencies to maintain some of their foreign currency earnings in offshore deposits in four trial areas -- Beijing, Guangdong Province, Shangdong Province and Jiangsu Province -- for a trial period of one...

CR Land H1 Rev Leaps 267.5% YoY

Mon, 30 Aug 2010 09:11:19 GMT

Hong Kong-based developer China Resources Land (1109.HK) reported revenue of HK$12.41 billion in the first six months of 2010, up 267.5% year-on-year, in its interim report released August 27. Net income expanded 168.5% year-on-year to HK$3.46 billion, according to the report. By August 22,...

A-Shares Soar on Fed Pledge

Mon, 30 Aug 2010 09:00:51 GMT

The Shanghai Composite Index climbed 1.61% to close at 2,652.66, while the Shenzhen Composite Index hiked 2.63% to end at 1,158.22 on Monday, August 30. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 11.05 billion and 7.58 billion, respectively. Most sectors in domestic markets...

Hang Seng Climbs 0.68%, Led by Mainland Cos

Mon, 30 Aug 2010 09:00:50 GMT

The Hang Seng Index climbed 0.68% to close 20,737.22 on Monday, August 30, in main board trading turnover of HK$49.25 billion. The Hang Seng China Enterprises Index rose 1.2% to 11,531.72. Mongolian Mining Corp has received approval from the Hong Kong Exchange to issue a $1 billion initial public...

Gov't Advisor Hints at Looser Bank Deposit Rates

Mon, 30 Aug 2010 08:04:43 GMT

Xia Bin, Director of the Finance Institute under the State Council's Development Research Center and a member of the Chinese central bank's monetary policy commission said China may consider allowing banks to set more flexible interest rates on deposits given current pressure from the consumer price...

Ku6 Posts Q2 Net Loss of $11.77 m

Mon, 30 Aug 2010 04:13:36 GMT

Online video site Ku6 (Nasdaq:KUTV) recorded a net loss of $11.77 million, or $0.37 per diluted share, in the quarter ending June 30, 2010, as compared with losses of $10.99 million in the same period a year ago, the company report August 29. Total revenues for the period came to $2.39 million,...

Xunlei Releases Game Download Ranking

Mon, 30 Aug 2010 04:06:37 GMT

Shenzhen-based download software provider Xunlei released an updated online game ranking based on client-end downloads from Xunlei's site gougou.com on August 30. The top ten online games for the week ending August 29 were: 1. QQ Dance (Horizon 3D, Tencent (0700.HK)) 2. QQ Speed (Tencent) 3. CrossFire...

The China Report: Weekly Edition - Metals

Fri, 27 Aug 2010 12:12:04 GMT

Online Games Weekly - August 27, 2010

Fri, 27 Aug 2010 10:27:35 GMT

Insurers' 7mth Premiums Up 33% YoY

Fri, 27 Aug 2010 10:18:11 GMT

China's insurers recorded total premium revenue of RMB 903.91 billion in the first seven months this year, up 33.2% annually, ce.cn reported citing data from the China Insurance Regulatory Commission. China's insurance companies recorded total premium revenues of RMB 799.86 billion in the

Online Advertising Monthly - August 27, 2010

Fri, 27 Aug 2010 09:44:35 GMT

Changyou Preps "IF" OB for 9/9

Fri, 27 Aug 2010 09:11:29 GMT

Sohu's (Nasdaq:SOHU) online gaming subsidiary Changyou (Nasdaq:CYOU) plans to start open beta testing of its licensed 2D Chinese fantasy MMORPG Immortal Faith on September 9, the company announced August 26. The game entered

Tencent Acquires Stake in Thai Portal

Fri, 27 Aug 2010 09:07:15 GMT

Tencent (0700.HK) has agreed to purchase 2,496 shares, or a 49.92% stake, in Thai portal Sanook for $10.5 million, Tencent announced August 26. Sanook is a wholly owned subsidiary of South African media group Naspers (JSE:NPN), which is also a substantial shareholder of Tencent, according...

A-Shares Continue to Rise, Agricultural Stocks Strengthen

Fri, 27 Aug 2010 09:00:25 GMT

The Shanghai Composite Index increased 0.28% to close at 2,610.74, while the Shenzhen Composite Index climbed 0.85% to end at 1,128.49 on Friday, August 27. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 7.04 billion and 5.32 billion, respectively. Agricultural and bio-tech stocks...

H-Shares Dip, Electronics, Real Estate Weigh

Fri, 27 Aug 2010 09:00:09 GMT

The Hang Seng Index dipped 0.07% to close at 20,597.35 on Friday, August 27, in main board trading turnover of HK$51.55 billion. The Hang Seng China Enterprises Index declined 0.36%. TCL Multimedia (1070.HK) plunged 15.88% today after the company announced on August 25 that it recorded net loss of...

The China Report: Special Edition - Potash

Fri, 27 Aug 2010 08:14:08 GMT

MIIT Announces July Telecom Stats, Op Revs Up 6.7%

Fri, 27 Aug 2010 06:31:25 GMT

China recorded telecommunications industry operating revenues of RMB 539.14 billion between January and July this year, up 6.7% year-on-year, with July alone contributing RMB 81.63 billion, the country's Ministry of Industry and Information Technology (MIIT) announced on its site on August 26. The...

Vanke Buys Guangdong Commercial Land

Fri, 27 Aug 2010 06:27:35 GMT

Shenzhen-based real estate developer Vanke (000002.SZ, 200002.SZ) has acquired four mixed-use land parcels with a combined area of 114,429.19 square meters in Foshan, Guangdong Province for RMB 728 million, guandian.cn reported August 27. The first parcel is approved for office and recreational...

Changyou Buys Office Building in Beijing

Thu, 26 Aug 2010 11:59:48 GMT

Sohu (Nasdaq:SOHU) online gaming subsidiary Changyou (Nasdaq:CYOU) agreed to purchase an office building in Beijing for $146 million, Changyou announced August 25. The building is expected to have an area of 56,200 square meters and is expected to be completed and delivered by the end of...

LCD Advertising Monthly Update - August 26, 2010

Thu, 26 Aug 2010 10:29:05 GMT

Dongxiang Q1 11 Book Value Up 11% YoY

Thu, 26 Aug 2010 10:25:27 GMT

Beijing-based sports brand China Dongxiang (3818.HK) recorded annual growth in same store sales in the first half of 2010 of 2%, while its order book value for the first quarter of 2011 expanded 11.8% year-on-year, Sina reported citing company CEO Qin Dazhong on August 25. Dongxiang earned...

Li Ning H1 Rev Up 11.2% YoY

Thu, 26 Aug 2010 10:17:55 GMT

Sports brand enterprise Li Ning (2331.HK) recorded revenue of RMB 4.51 billion in the first six months this year, up 11.2% year-on-year, while net income grew 23.1% year-on-year to RMB 582 million, the company announced August 25. The company added a net of 229 stores in the first half of 2010...

Real Estate Weekly - August 26, 2010

Thu, 26 Aug 2010 10:07:59 GMT

Longfor Buys Shandong Land for RMB 1.52b

Thu, 26 Aug 2010 09:22:12 GMT

Chongqing-based real estate developer Longfor Properties (0960.HK) has acquired 33 adjacent land parcels in Yantai, Shandong Province with a combined area of 136.6 hectares for RMB 1.52 billion, guandian.cn reported August 26. The plots have been approved for commercial, residential and recreational...

R&F H1 Profit Soars 348%

Thu, 26 Aug 2010 09:20:24 GMT

Guangdong-based real estate developer R&F Properties (2777.HK) generated net income of RMB 700.95 million in the first half of 2010, up 348% year-on-year, according to a company announcement on August 26. The company's revenue for the period grew 49% year-on-year to RMB 6.94 billion, the announcement...

Shanda Games to Release "WoooL" New Version

Thu, 26 Aug 2010 09:09:21 GMT

Shanda Interactive (Nasdaq:SNDA) game subsidiary Shanda Games (Nasdaq:GAME) plans to release "Haidi Shijie" ("Submarine World"), a new version of its in-house developed MMORPG The World of Legend ("WoooL") soon, according to a posting on the game's official site on August 23. The...

H-Shares Dip; China Life Slumps

Thu, 26 Aug 2010 09:00:59 GMT

The Hang Seng Index declined 0.11% to close at 20,612.06 on Thursday, August 26, in main board trading turnover of HK$54.83 billion. The Hang Seng China Enterprises Index declined 0.52% to 11,436.22. China Life Insurance (NYSE:LFC, 2628.HK, 601628.SH) plunged 6.27% after the company reported net...

A-Shares Edge Up; ChiNext Debuts Slump

Thu, 26 Aug 2010 09:00:03 GMT

The Shanghai Composite Index edged up 0.27%, closing at 2,603.48, while the Shenzhen Composite Index climbed 0.67% to end at 1,119.0 on Thursday, August 26. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 8.03 billion and 6.27 billion, respectively. Coal companies rebounded, with...

KongZhong Posts $5.5m, WVAS Revs Down 33%

Thu, 26 Aug 2010 08:42:23 GMT

Wireless value-added service (WVAS) provider KongZhong (Nasdaq:KONG) second quarter net income came to $5.55 million, or $0.09 per diluted American depository share, compared with $3.16 million in the first quarter and $2.58 million in the second quarter of last year, the company reported August...

Intime Acquires Land Parcels in Zhejiang

Thu, 26 Aug 2010 08:34:25 GMT

Hangzhou-based Intime Department Store (1833.HK) successfully bid RMB 645.6 million for eight land parcels with a total area of 134,567 square meters in Wenling, Zhejiang Province, Intime announced August 25. Intime intends to use the land to build a shopping mall as well as develop the land...

iCafe8 to List on ChiNext

Thu, 26 Aug 2010 08:10:41 GMT

Internet cafe solutions provider Hangzhou Shunwang Technology (icafe8.com) will begin trading of its shares on the Shenzhen Stock Exchange's ChiNext board under the stock code "300113.SZ" from August 27, the exchange announced August 26. The company, established 2005, generates the majority of revenues...

ZQ Game Preps MMO Alpha for 9/9

Thu, 26 Aug 2010 08:10:02 GMT

PowerLeader (8236.HK) subsidiary Shenzhen ZQ Game Technology (Zhongqingbao Network) (300052.SZ) plans to start alpha testing of Tian Chao, its in-house developed 2D MMORPG, on September 9, according to a posting on the game's official site on August 26.

China Life YoY Profit Growth Slows H1 to 7.4%

Thu, 26 Aug 2010 08:00:26 GMT

China Life Insurance (NYSE:LFC, 2628.HK, 601628.SH) reported net income of RMB 18.03 billion in the first six months of 2010, up 7.4% year-on-year, in its first half financial statements released August 25. The company recorded total revenues for the period of RMB 215.39 billion, up from RMB 195.74...

Maoye Buys Property in Hebei, to Open Dept Store

Thu, 26 Aug 2010 07:54:49 GMT

Shenzhen-based retailer Maoye International Holdings (0848.HK) wholly-owned subsidiary Zhongzhao has agreed to purchase a property with a gross floor area of 21,830.97 square meters in Baoding, Hebei Province for RMB 176 million, Maoye announced August 25. Zhongzhao plans to operate a department...

Kingsoft H1 Profit Falls 21% Y-o-Y

Thu, 26 Aug 2010 05:47:58 GMT

Kingsoft (3888.HK) recorded net income of RMB 156.66 million in the first half of this year, down 21% year-on-year, the company announced August 25. Revenue for the period increased 3% annually to RMB 492.01 million, with the company's entertainment software business contribution flat from last...

PBoC Withdraws RMB 91b From Market

Thu, 26 Aug 2010 05:46:46 GMT

The People's Bank of China (PBoC) drained a net of RMB 91 billion from money markets in its regular open market operations this week, fx678.com reports August 26. The central bank sold three-month bills worth a total of RMB 17 billion at a rate of 1.5704% and RMB 80 billion in three-year notes with...

Four Property Cos Partner to Develop Tianjin Plot

Thu, 26 Aug 2010 04:52:24 GMT

Four real estate companies -- R&F Properties (2777.HK) subsidiary Beijing R&F, KWG Property Holding (1813.HK) subsidiary KWG Beijing, Agile Property Holding (3383.HK) subsidiary Foshan Agile and Shimao Property Holding (0813.HK) subsidiary Shimao Jianshe -- have established...

Suntech to Build 100MW South African PV Plant

Wed, 25 Aug 2010 10:14:50 GMT

Photovoltaic (PV) module maker Suntech Power Holdings (NYSE:STP) plans to build a 100MW solar station in South Africa in partnership with an unnamed local firm, Solarbe.com reported August 25 citing Suntech Business Development Manager Huang Xiaoxin. The South African government offered subsidies of...

Greentown Lowers FY10 Construction Targets

Wed, 25 Aug 2010 09:49:50 GMT

Hangzhou-based real estate developer Greentown China Holdings (3900.HK) will lower its original construction target of 11 million square meters by around 2 million square meters, reports guandian.cn August 25 citing company Vice President Shou Bainian. Greentown will "face difficulty" completing...

Trina Tops Shipment Guidance, Revenues Up 10.1% QoQ

Wed, 25 Aug 2010 09:48:59 GMT

Jiangsu-based integrated photovoltaic (PV) products manufacturer Trina Solar (NYSE:TSL) recorded a net income of $38.71 million in the second quarter of 2010, compared to a net income of $44.54 million in the first quarter of the year and $18.6 million in the second quarter of 2009, the company...

Tencent Updates "Da Ming", Licenses Webgame

Wed, 25 Aug 2010 09:44:33 GMT

Tencent (0700.HK) has released a new version of its licensed Ming Dynasty-based 2D martial arts MMORPG Da Ming Long Quan on August 24, 17173.com reported August 24. The version features four new areas with hidden treasure and advanced equipment, according to the report. The game entered...

Dongxiang H1 Sales Up 14.8% YoY

Wed, 25 Aug 2010 09:35:28 GMT

Beijing-based sports brand China Dongxiang (3818.HK) earned revenues of RMB 2.15 billion in the first half of 2010, up 14.8% annually, the company announced August 25. Of the total, the company generated RMB 1.95 billion from distribution of the Kappa brand in China, representing growth of 16.6%...

Alibaba.com Acquires eBay Tools Developer

Wed, 25 Aug 2010 09:29:11 GMT

E-commerce company Alibaba.com Limited (1688.HK) has agreed to acquire Auctiva, a third-party developer of tools for vendors on e-commerce site eBay (Nasdaq:EBAY). Auctiva has more than 170,000 active users, according to the report. Alibaba.com plans to integrate Auctiva's platform with...

The9 Losses Continue Thru Q2, Revs Edge Up 15% QoQ

Wed, 25 Aug 2010 09:26:18 GMT

Online game company The9 (Nasdaq:NCTY) made a net loss of RMB 65.82 million in the second quarter of 2010, compared with a loss of RMB 75.8 million in the first quarter of the year and a loss of RMB 79.2 million in the second quarter of last year, the company reported August 24. Fully diluted...

Update: Shanda Games Preps MMO Content for 8/26

Wed, 25 Aug 2010 09:26:01 GMT

Shanda Interactive (Nasdaq:SNDA) game subsidiary Shanda Games (Nasdaq:GAME) plans to release "Hei'an Shendian," the second chapter of Dragon Nest, its licensed Dungeons and Dragons-themed 3D action MMORPG on August 26, according to a posting on the game's official site on August...

Giant Co-operates 3D MMO

Wed, 25 Aug 2010 09:23:11 GMT

Giant Interactive (NYSE:GA) agreed to co-operate Shanghai YoYo SoftwareTechnology's licensed 3D fantasy MMORPG Piaomiao Zhilv Online, Sina reported August 25. Giant will provide on-ground marketing and other support to the game, according to the report. The game, developed by Taiwanese...

Agile Hits 53% of 2010 Sales Target

Wed, 25 Aug 2010 09:20:05 GMT

Guangdong-based Agile Property Holdings (3383.HK) sales under contract for the first seven months of 2010 came to RMB 12.1 billion, or 1.21 million square meters, while its sales by August 19 reached 1.36 million square meters, equal to around 53% of its full year target, the company announced...

Ping An H1 Profit Up 28% to RMB 10b

Wed, 25 Aug 2010 09:16:07 GMT

Ping An Insurance (Group) (2318.HK, 601318.SH) recorded net income of RMB 9.87 billion in the first six months of 2010, up 27.9% year-on-year, according to the insurer's interim report released August 24. Ping An wrote gross premiums of RMB 85.08 billion in the six months, up from RMB 59.5...

NDRC Official: Property Tax Still On Cards

Wed, 25 Aug 2010 09:15:19 GMT

China continues to work towards the introduction of a property tax, National Development and Reform Commission (NDRC) Finance Department Director Yu Lin said quoted by China Securities on August 25. Property taxes will form a stable main component of local government tax income, Xu said.

Hang Seng Slips for Fourth Day, Property Cos Weigh

Wed, 25 Aug 2010 09:00:53 GMT

The Hang Seng Index slipped 0.11% to close at 20,634.98 on Wednesday, August 25, in main board trading turnover of HK$58.05 billion. The Hang Seng China Enterprises Index ended 0.67% lower. Airliners slumped Wednesday, with Cathay Pacific Airways (0293.HK), Air China (0753.HK, 601111.SH) and China...

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