Sportswear Update: Dongxiang (3818.HK) and Li Ning (2331.HK)

Fri, 19 Mar 2010 13:07:29 GMT

Real Estate: SOE Exit - March 19, 2010

Fri, 19 Mar 2010 12:49:01 GMT

Online Games Weekly - March 19, 2010

Fri, 19 Mar 2010 12:40:10 GMT

The China Report: Weekly Edition

Fri, 19 Mar 2010 12:23:56 GMT

Economy Hotels Monthly Update - March 19, 2010

Fri, 19 Mar 2010 10:53:23 GMT

Li Ning Expects 20% Growth in Q3 Pre-Orders

Fri, 19 Mar 2010 10:28:02 GMT

Sports brand enterprise Li Ning (2331.HK) expects pre-orders in the third quarter to grow more than 20% on an annual basis, and estimates that pre-orders in the first and second quarters will rise by 11.6% and 15.4% year-on-year, respectively, yikuo.com reported March 18 citing company Executive...

Shanda Licenses "JX3," Developer Kingsoft Talks New Titles

Fri, 19 Mar 2010 10:26:34 GMT

Shanda (Nasdaq:SNDA) plans to start co-operating Kingsoft's (3888.HK) in-house developed 3D martial arts MMORPG JX Online 3 in May this year, 17173.com reported citing a March 19 Shanda announcement. The companies have agreed that Kingsoft will be responsible for game content and...

Severe Drought Strikes West China

Fri, 19 Mar 2010 10:19:50 GMT

Drought in China's southwest is putting a strain on the supply of coal for electricity, with some cities and provinces already seeing blackouts and power shortages, while Sichuan province suppliers already have less than seven days of power supply, China Economic Net reports March 19. Sichuan province...

Guangdong Banks Begin Tightening First Home Loans

Fri, 19 Mar 2010 10:19:47 GMT

China Construction Bank (0939.HK, 601939.SH) and Guangdong Development bank has raised the down payment on loans for first-time home purchases from 20% to 30%, while some other Guangdong province banks, including Bank of China (3988.HK,601988.SH), have implemented a reduced, 15% discount...

E-House Set Up $100m, RMB 880m Real Estate Funds

Fri, 19 Mar 2010 10:15:00 GMT

Shanghai-based real estate services company E-House (China) (NYSE:EJ) established two real estate-related funds, a $100 million overseas fund and a RMB 880 million fund, shortly its listing on the New York Stock Exchange,...

GCL-Poly Reaps 23.7% Rev Growth in '09

Fri, 19 Mar 2010 10:11:23 GMT

Hong Kong-based polysilicon producer and power plant operator GCL-Poly Energy Holdings (3800.HK) recorded revenues of RMB 4.36 billion in 2009, up 23.7% from the previous year, the company announced March 18. Sales of polysilicon contributed RMB 2.54 billion, down from RMB 2.89 billion in 2008,...

Skyworth Announces February Sales

Fri, 19 Mar 2010 10:10:55 GMT

Electronics company Skyworth (0751.HK) announced March 18 that sales of its LCD TVs increased by 70% year-on-year to 335,700 units in February in China. Revenues from the company's China TV business unit grew 61% in February compared with the same period 2008.

Vale Seeks to Double Iron Ore Benchmark Price

Fri, 19 Mar 2010 10:10:39 GMT

Brazil's Vale (NYSE:VALE) aims to life its 2010 iron ore benchmark price by 90% to 100%, Sina reported citing Luo Bingsheng Vice President of the China Iron and Steel Association (CISA) March 19. The current iron ore price negotiations are the responsibility of the enterprises involved, but the...

Changyou: "TLBB2" Out April 2

Fri, 19 Mar 2010 10:10:32 GMT

Sohu's (Nasdaq:SOHU) online gaming subsidiary Changyou.com (Nasdaq:CYOU) announced March 19 that it plans to start open beta testing of "Tian Long Ba Bu 2," an expansion pack for its in-house developed 2.5D martial arts MMORPG Tian Long Ba Bu, on April 2, 17173.com reported March...

Alibaba.com Enters Brazil

Fri, 19 Mar 2010 10:05:50 GMT

Hangzhou-based business-to-business (B2B) e-commerce company Alibaba.com (1688.HK) has officially entered the Brazilian market through its partnership with local company Luda Trade, Xinhuanet.com reported March 19. Alibaba.com Asia Sales Director Timothy Leung said that to date, Alibaba.com has...

Giant Exec Confirms Jump to Perfect World

Fri, 19 Mar 2010 10:03:12 GMT

Xu Yiran, formerly director of strategy and investment at Giant Interactive (NYSE:GA), confirmed March 18 that he will join Perfect World (Nasdaq:PWRD) as the company's Vice President of strategy next week, DoNews reports.

HP Admits Defects, Says China Regulator

Fri, 19 Mar 2010 10:01:44 GMT

HP (NYSE:HPQ) has acknowledged that some of its notebooks sold in mainland China have quality problems related to video cards or displays, according to a posting on China's General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) site on March 18. The computer maker failed...

Retail: Monthly Update - March 19, 2010

Fri, 19 Mar 2010 10:01:01 GMT

A-Shares End Week Up; Chalco, Property Bullish

Fri, 19 Mar 2010 10:00:01 GMT

The Shanghai Composite Index rose 0.71% to close at 3,067.75, while the Shenzhen Composite Index rose 0.81% to end at 1,181.5 on Friday, March 19. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were RMB 103.21 billion and RMB 78.94 billion, respectively. The mainland's finance and insurance...

H-Shares Flat, Health Stocks Strong

Fri, 19 Mar 2010 09:59:29 GMT

The Hang Seng Index rose 0.19% to close at 21,370.82 on Friday, March 19. Main board trading volume increased to HK$58.73 billion. Aluminum Corporation of China (Chalco) (NYSE:ACH, 2600.HK, 601600.SH) rose 3.32% in Hong Kong after parent company Chinalco signed a memorandum of understanding with Rio...

Taobao: RMB 1b for 2010 Small Site Promo Payouts

Fri, 19 Mar 2010 09:48:13 GMT

Alibaba's consumer-focused e-commerce site Taobao.com spent an average of RMB 500,000 per day in commission payments to Taobao.com promoters by late 2009, Sina reports quoting data supplied by Taobao.com. The company said it will introduce "The Blue Whale Plan," a new advertising model under which it...

Longyuan Power Builds 10MW Tibet PV Station

Fri, 19 Mar 2010 09:32:59 GMT

China Guodian Corporation's subsidiary GD Longyuan Power Group Corporation (600795.SH) started construction of a 10MW solar power station in Tibet on March 19, Guodian Corp announced the same day. The company estimates the station will require investment of RMB 220 million and is expected to be...

Suning Sub Starts Commercial Property Project

Fri, 19 Mar 2010 09:21:27 GMT

Jiangsu Suning Real Estate, a commercial property development subsidiary of home appliance and electronics retailer Suning (002024.SZ), broke ground on a 40,000-square-meter commercial property project in Xuzhou, Jiangsu province on March 18, Modern Express reported on March 19. The 62-floor project...

Chalco, Rio Tinto Sign West African Iron Ore JV

Fri, 19 Mar 2010 08:50:23 GMT

Aluminum Corporation of China (Chalco) (NYSE:ACH, 2600.HK, 601600.SH) parent company Chinalco has signed a memorandum of understanding with Rio Tinto (NYSE:RTP, LON:RIO) to acquire a 47% interest in Rio Tinto's Simandou iron ore project in the Republic of Guinea for...

AirMedia Replaces Head of Traditional Airport Ads

Fri, 19 Mar 2010 07:51:21 GMT

Out-of-home advertising network operator AirMedia Group Inc. (Nasdaq:AMCN) announced March 18 that its Executive President Ken Zijian Zeng has stepped down, but will continue to serve as a consultant to AirMedia. AirMedia Vice President Dr. Li Zeng will take Ken Zeng's place in supervising the...

Source: Bank of China's $7b Offering to be Finalized Soon

Fri, 19 Mar 2010 07:04:32 GMT

An unnamed employee at Bank of China's (BoC) (3988.HK,601988.SH) headquarters says that the bank's $7 billion follow-on public offering of H shares is undergoing final procedures and will be finalized within the week if everything goes well, reports Securities Times March 19. BoC Chairman Xiao...

P&C Insurance: Auto - March 18, 2010

Thu, 18 Mar 2010 12:27:42 GMT

The China Report: Special Edition

Thu, 18 Mar 2010 12:25:28 GMT

Shanghai GAPP: WLK Application Received

Thu, 18 Mar 2010 10:40:10 GMT

Shanghai Municipal Bureau of Press and Publication has received an application to review "Wrath of the Lich King," the second expansion of NetEase's (Nasdaq:NTES) licensed 3D MMORPG World of Warcraft, DoNews reports quoting a Q&A posting on the municipal publication bureau's official site...

Central Bank Drains Most From Market in Two Years

Thu, 18 Mar 2010 10:26:58 GMT

The People's Bank of China (PBoC) sold RMB 130 billion worth of three-month central bank notes at a yield of 1.4088%, the same yield as last week, in its regular open-market operations on Thursday, p5w.net reports. The central bank also offered 91-day repurchase agreements valued at RMB 80 billion at...

SASAC: 78 SOEs to Withdraw From Real Estate Market

Thu, 18 Mar 2010 10:24:34 GMT

China's State-owned Assets Supervision and Administration Commission announced at a March 18 press conference that 78 state-owned companies that are currently involved in the real estate market are speeding up their restructuring and will withdraw from the property business, after completing the construction...

COLI, ICBC Set Up $250-500m Real Estate Fund

Thu, 18 Mar 2010 10:17:02 GMT

China Overseas Land & Investment (COLI) (0688.HK), has joined the Industrial and Commercial Bank of China's (1398.HK, 601398.SH) International Investment Management Company to set up a fund of between $250 million to $500 million to invest in the Chinese property market, guandian reports...

Insurance Regulator Announces Jan Premium Income

Thu, 18 Mar 2010 10:12:43 GMT

Chinese insurance companies underwrote policies worth a total of RMB 164.3 billion in January, up 43.16% year-on-year, yicai.com reports March 16 citing data released by China Insurance Regulatory Commission (CIRC). Of the total, life insurance premiums accounted for RMB 120.35 billion, up 41.53% year-on-year,...

Real Estate Weekly - March 18, 2010

Thu, 18 Mar 2010 10:12:12 GMT

Perfect World Preps "Dragon Excalibur" 1st Expansion

Thu, 18 Mar 2010 10:12:07 GMT

Perfect World (Nasdaq:PWRD) plans to release the first expansion pack, "Yi Hai Qing Tian," for its first in-house developed 2D real-time fantasy MMORPG Dragon Excalibur on March 23, 17173.com reported on March 18. The expansion will include new dungeons, maps and virtual items, as well...

CDC Games Slates "East Fantasy" CB

Thu, 18 Mar 2010 10:11:37 GMT

CDC Corporation (Nasdaq:CHINA) subsidiary CDC Games plans to start closed beta testing of its licensed 3D side-scrolling action casual game East Fantasy ("Dong You Ji") on March 24, 17173.com reported March 18. The company will not delete gamer information after the testing, said the report....

Poly Real Estate Buys RMB 5b Beijing Parcel

Thu, 18 Mar 2010 10:10:05 GMT

Guangzhou-based Poly Real Estate Group (600048.SH) acquired a land parcel in Beijing with 310,300 square meters of ground floor area for RMB 5.04 billion on March 17, guandian.cn reports. Poly Real Estate reported revenues of RMB 1.45 billion

Shanda Readies Webgame "Qi Xia Tian Xia" Tests

Thu, 18 Mar 2010 10:06:16 GMT

Shanda (Nasdaq:SNDA)-owned online game company Simo Technology plans to start unlimited testing of its webgame Qi Xia Tian Xia on April 7, qq.com reported March 18. Over the three rounds of testing to date, the game has attracted a total of 600,000 registered gamers and 130,000 active players,...

TechFaith Sub to Start Initial Testing "Fengshen Bang"

Thu, 18 Mar 2010 10:01:58 GMT

China TechFaith Wireless Communication Technology (Nasdaq:CNTF) subsidiary One Net Entertainment plans to start initial testing for its first in-house developed 3D turn-based Chinese fantasy MMORPG Feng Shen Bang on March 26, Sina reports on March 18.

A-Shares Mixed, Real Estate Rally Continues

Thu, 18 Mar 2010 10:00:24 GMT

The Shanghai Composite Index fell 0.14% to close at 3,046.09, while the Shenzhen Composite Index rose 0.13% to end at 1,172.03 on Thursday, March 18. Trading volumes on the Shanghai and Shenzhen Stock Exchanges continued to rise, increasing to RMB 91.38 billion and RMB 79.46 billion, respectively. Real...

H-Shares Edge Down in Slim Trading

Thu, 18 Mar 2010 10:00:04 GMT

The Hang Seng Index fell 0.24% to close at 21,332.75 on Thursday, March 18, as main board trading volume shrunk to HK$48.08 billion. Red-chip stocks tugged at the index in both directions, following mixed earnings releases. China Mobile (NYSE:CHL, 0941.HK) rose 2.05% after the company

MIIT: 3-in-1 Network Possible in June

Thu, 18 Mar 2010 09:47:33 GMT

The Ministry of Industry and Information Technology (MIIT) expects to release its draft of a plan to integrate China's internet, telecom and cable TV networks in May this year, and may start to implement the plan in June, Sina reports quoting Minister of Industry and Information Technology Li Yizhong....

China Mobile '09 Profits Expand 2.3% YoY

Thu, 18 Mar 2010 07:42:05 GMT

China Mobile (NYSE:CHL, 0941.HK) reported net profit of RMB 115.17 billion in 2009, up 2.3% year-on-year, according to the company's full year report issued March 17. China Mobile revenues grew 9.8% year-on-year to RMB 452.10 billion, of which usage fees generated RMB 285.97 billion. Revenue from...

Trina Announces Share Issue for Capacity Expansion

Thu, 18 Mar 2010 06:07:31 GMT

Trina Solar (NYSE:TSL) intends to offer 7.9 million American depositary shares (ADS), the company announced in a filing with the Securities Exchange and Commission on March 17. The company plans to use approximately $100 million of the proceeds from the offering to expand its cell and module manufacturing...

Suntech to Supply 4.7MW Taiwan Power Project

Thu, 18 Mar 2010 03:36:43 GMT

Photovoltaic module manufacturer Suntech Power Holdings (NYSE:STP) has been selected to supply solar modules for the Taiwan Power Company's new 4.7MW solar plant in Young'an, Kaohsiung, Taiwan, Suntech announced March 17. The project is expected to be the island's largest solar power plant and...

Li Ning Lifts '09 Profit 31%

Wed, 17 Mar 2010 10:45:02 GMT

Sports brand enterprise Li Ning (2331.HK) recorded revenues of RMB 8.39 million in 2009, up 25.4% from the previous year, while profit attributable to equity holders grew by 31% to RMB 945 million. The company's profit margin increased by 0.5 percentage points to 11.3%, while basic earnings per...

Tencent '09 Final Quarter Profit Up 74% YoY

Wed, 17 Mar 2010 10:23:45 GMT

Internet, wireless and online game company Tencent (0700.HK) booked net income of RMB 1.51 billion in the final quarter of 2009, up 73.5% year-on-year and 6.2% quarter-on-quarter, the company reported March 17. Revenues increased by 9.5% sequentially to RMB 3.69 billion in the quarter, the report...

Focus Media Narrows Q4 Loss, Guides Q1 Revs Lower

Wed, 17 Mar 2010 10:18:41 GMT

Following a year of restructuring, out-of-home advertiser Focus Media (Nasdaq:FMCN) narrowed its net loss in the fourth quarter to $52.5 million, or $0.39 per fully diluted American depository share (ADS), compared to a loss of $802.5 million in the fourth quarter of 2008 and $127.6 million in...

Chalco Gets Nod for RMB 10b Private Placement

Wed, 17 Mar 2010 10:15:17 GMT

Aluminum Corporation of China's (Chalco) (NYSE:ACH, 2600.HK, 601600.SZ) has received Chinese regulatory approval to a non-public offering of A-shares, the company announced March 16. Chalco plans to raise up to RMB 10 billion to finance an 800,000-metric ton alumina project in Chongqing, the statement...

KongZhong Hits Lowered Q4 Guidance; Brighter Q1

Wed, 17 Mar 2010 10:11:39 GMT

Wireless value-added service provider KongZhong Corporation (Nasdaq:KONG) booked net income of $2.02 million, or $0.05 per diluted American depository share, in the fourth quarter of 2009, representing growth of 286% year-on-year, the company reported March 17. Total revenues in the period increased...

Perfect World to Launch "World 2" Expansion

Wed, 17 Mar 2010 10:08:33 GMT

Perfect World (Nasdaq:PWRD) plans to release "Xian Mo Wujie," the first expansion this year of its in-house developed 3D MMORPG Perfect World II (World 2 International), on March 31, according to a posting on the game's official site dated March 17. The new expansion will add new dungeons,...

Shanda Games Slates Alpha of "King of Fighters' World"

Wed, 17 Mar 2010 10:06:31 GMT

Shanda Interactive Entertainment's (Nasdaq:SNDA) game subsidiary Shanda Games (Nasdaq:GAME) plans to start limited alpha testing of its licensed 2D side-scrolling fighting casual game The King of Fighters' World on April 17, according to a posting on the game's site. Shanda Games...

MIIT Sets Poly Industry Threshold

Wed, 17 Mar 2010 10:05:57 GMT

The Ministry of Industry and Information Technology (MIIT) plans to set a minimum production capacity of 3,000 metric tons for polysilicon producers as part of its polysilicon industry standards, Caing.com reported March 17 quoting MIIT Electronic Information Department Vice Director Wang Bohua. According...

ChinaSeasun Breaks Ground on Fujian PV Station

Wed, 17 Mar 2010 10:02:22 GMT

Beijing-based ChinaSeasun New Energy has started construction of a planned 30MW solar power station in Liancheng, Fujian province SolarBe.com reported March 17. The 3MW first phase of the project will require investment of RMB 100 million, while the overall project will need RMB 1 billion, the report...

Elong Answers Ctrip With Best Price Guarantee

Wed, 17 Mar 2010 10:01:46 GMT

Online travel services provider eLong (Nasdaq:LONG) announced March 16 that it will begin compensating customers who find lower prices for eLong's contracted hotels on competitor Ctrip.com International's (Nasdaq:CTRP) site with three times the difference in rates, Nanfang Daily reported. eLong...

H-Shares Rejuvenated by Fed Rates Pledge

Wed, 17 Mar 2010 10:00:50 GMT

The Hang Seng Index rose 1.72% to close at 21,384.49 on February 24, in main board trading volume of HK$65.88 billion. Hong Kong shares rebounded after three days of broad declines. Financials, commodities and retailers posted some of the strongest growth, as the US Federal Reserve renewed commitment...

Shanghai Jumps 1.9%, Trading Volume Intensifies

Wed, 17 Mar 2010 10:00:20 GMT

The Shanghai Composite Index increased 1.93% to close at 3,050.48, while the Shenzhen Composite Index shot up 2.43% to end at 1,170.48 on Wednesday, March 16. Trading volumes on the Shanghai and Shenzhen Stock Exchanges picked up to RMB 87.09 billion and RMB 52.43 billion, respectively. All sectors...

Best Buy Enters China's Second Tier With Suzhou Store

Wed, 17 Mar 2010 09:55:23 GMT

Best Buy (NYSE:BBY) plans to open a store in Suzhou, Jiangsu province on March 26, Gusu Evening Post reported. Suzhou is Best Buy's first entry into a second-tier Chinese city, after the chain moved into first-tier cities including Shanghai and Beijing, said the report. Reports in

Google (GOOG) Advertiser Survey - March 17, 2010

Wed, 17 Mar 2010 07:43:29 GMT

Consumer Price Worries on the Rise, Says PBoC Survey

Wed, 17 Mar 2010 03:19:29 GMT

A survey of Chinese citizens in 50 domestic cities shows that the majority is less willing to consume and more willing to save or invest, while expectations of inflation continue to rise, Caijing reports quoting a national questionnaire conducted in the first quarter of 2010 and released by the People's...

Metals: Copper Update (Revised) March 15, 2010

Tue, 16 Mar 2010 13:10:12 GMT

Google Agent Asks for Compensation Clarity

Tue, 16 Mar 2010 12:29:11 GMT

A Google China sales agent representing 27 other google.cn ad sellers sent a letter to Google (Nasdaq:GOOG) Vice President of Greater China Sales John Liu on Monday, urging Google to offer reasonable compensation to distribution channels if google.cn is closed, reports cctv.com. The letter asked for...

Solar Industry Weekly Update - March 16, 2010

Tue, 16 Mar 2010 12:21:50 GMT

Tencent (0700.HK) Pre-Earnings Forecast - March 16, 2010

Tue, 16 Mar 2010 12:10:11 GMT

Sunergy Names New CEO From Acquired Cos� Ranks

Tue, 16 Mar 2010 10:25:36 GMT

China Sunergy (Nasdaq:CSUN) CEO Allen Wang has resigned from the company for personal reasons, and been replaced by Stephen Zhifang Cai, the Nanjing-based solar cell maker announced March 15. Cai previously worked as the Director of China Electric Equipment Group (CEEG), CEO of CEEG PV Business,...

Noah to Acquire Child Education Co for RMB 126m

Tue, 16 Mar 2010 10:24:27 GMT

Shenzhen-based electronic dictionary and mobile learning device maker Noah Education (NYSE:NED) has signed an agreement to acquire 70% interest in Shenzhen Wentai Education Industry for total consideration of RMB 126 million by June 1, 2010, Noah announced March 15. Founded in 2002, Wentai...

Retailer Suning Boosts Profit 33% in '09

Tue, 16 Mar 2010 10:20:23 GMT

Home appliance and electronics retailer Suning (002024.SZ) generated net profit of RMB 2.89 billion in 2009, up 33.17% year-on-year, the company announced on March 16. The company saw revenue expand 16.84% annually to RMB 58.3 billion in the same period. Suning opened 182 new stores in 22 newly...

Sina Micro-Blog Looks to VAS for Income

Tue, 16 Mar 2010 10:18:01 GMT

Sina (Nasdaq:SINA) plans to offer value-added services in its micro-blogging service in the near future to supplement advertising as a revenue source, Shanghai Evening Post reported quoting Sina Vice President and Products Department Manager Peng Shaobin. Peng also said the company has no plans...

China Life Jan-Feb Premiums Up 15.2% YoY

Tue, 16 Mar 2010 10:16:37 GMT

China Life Insurance (NYSE:LFC, 2628.HK, 601628.SH) recorded aggregate premium income of RMB 77.4 billion in the first two months of 2010, the company announced March 15. The figure represents a 15.2% increase from the year-ago period, caihuanet.com reported. China Life Insurance recorded...

Peak '09 Profits Jump 67% YoY

Tue, 16 Mar 2010 10:15:14 GMT

Sportswear manufacturer and retailer Peak Sport Products (1968.HK) recorded net income growth of 67.1% year-on-year to HK$628.3 million in 2009, while revenues increased 51.6% annually to HK$3.09 billion in the same period, according to the company's financial report issued March 16. Peak saw...

MIIT: Chinese Industry to Grow 11% in 2010

Tue, 16 Mar 2010 10:11:49 GMT

China is targeting industrial sector growth of around 11% to support its goal of 8% growth in the overall economy this year, people.com.cn reported citing Minister of Industry and Information Technology Li Yizhong. According to Li, the sector grew 20.7% year-on-year in January and February this year,...

China Taiping Life Announces Jan-Feb Premium Income

Tue, 16 Mar 2010 10:10:27 GMT

China Taiping Insurance Holdings (0966.HK) subsidiary Taiping Life Insurance reported premium income of RMB 7.67 billion in the first two months of 2010, the parent company announced on March 12. The figure represents year-on-year growth of 82.2%, takungpao.com reported. Taiping Life Insurance...

Tencent Readies Next "QQ Speed" Version

Tue, 16 Mar 2010 10:10:23 GMT

Tencent (0700.HK) plans to release a new version, "The New Power of Skateboarding," for its in-house developed Q-style 3D online car racing game QQ Speed on March 25, 17173.com reported March 16. The company plans to add a "skateboarding" zone, in addition to new racing routes, tasks and...

Alibaba.com '09 Rev Leaps 30%, Profits Top RMB 1b

Tue, 16 Mar 2010 10:05:51 GMT

Hangzhou-based business-to-business (B2B) e-commerce site Alibaba.com (1688.HK) booked net income of RMB 1.01 billion in the full year 2009, down 12.3% year-on-year, according to the company's financial report released March 16. Alibaba.com saw revenues grow 29% year-on-year to RMB 3.88 billion, the...

TechFaith Back in Black; Books Double Digit Rev Growth

Tue, 16 Mar 2010 10:01:43 GMT

China TechFaith Wireless Communication Technology (Nasdaq:CNTF) reported net income of $3.1 million, or $0.07 per diluted American depository share, in the fourth quarter of 2009, compared with net loss of $3.4 million in the prior quarter and net income of $0.8 million in the year-ago period....

A-Shares Inch Up, Supported by Bank Rally

Tue, 16 Mar 2010 10:00:59 GMT

The Shanghai Composite Index increased 0.53% to close at 2,992.84, while the Shenzhen Composite Index gained 0.65% to end at 1,143.20 on March 15. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were RMB 69.93 billion and RMB 51.62 billion, respectively. Shares of banks rebounded in the...

H-Shares Mixed; Electronics Up, Energy Down

Tue, 16 Mar 2010 10:00:33 GMT

The Hang Seng Index declined 0.27% to close at 21,022.93 on Tuesday, March 16, in main board trading volume of HK$50.30 billion. Electronics companies were positive Tuesday, with BYD Company (1211.HK) gaining 7.97%, Vtech Holdings (0303.HK) increasing 2.98% and Hisense Kelon (0921.HK) adding 1.61%,...

Watsons Targets 750 China Stores by Year End

Tue, 16 Mar 2010 09:53:05 GMT

Health and beauty chain Watsons currently has 600 open stores and plans to exceed 750 stores in China, including 22 new stores in Guangdong province, by the end of this year, New Express Daily reported citing He Guoliang, general manager of Watsons' south China division. The retailer offers more than...

Shanxi Plans Coal Industry Rehaul

Tue, 16 Mar 2010 08:27:25 GMT

Shanxi provincial government plans to close 150 coal mines in the coming two years and reduced its total production capacity to 140 million tons, 21st Century Business Herald reported March 15. By the year 2015, Shanxi will reduce the number of coking enterprises to 60, bringing its total capacity to...

Shenhua, Datang Sign RMB 13.8b Coal Supply Deal

Tue, 16 Mar 2010 08:24:06 GMT

China Shenhua Energy (601088.SH, 1088.HK) has agreed to supply coal to China Datang Corporation until December 2013, with a value of up to RMB 13.8 billion, Sina reported March 15. Shenhua plans to sell a total of 272 million metric tons of coal this year, representing growth of 7% year-on-year,...

Global Sources Lifts Q4 Income Y-o-y, Sees Tough H1

Tue, 16 Mar 2010 02:48:24 GMT

Business-to-business trade company Global Sources (Nasdaq:GSOL) reported net income of $8.6 million in the fourth quarter of 2009, or $0.19 per diluted share, up from $7.5 million in the year-ago period, as sluggish mainland and Asian exports continued to impact its business.    The...

China Education Alliance Reports Q4 Earnings

Tue, 16 Mar 2010 02:00:15 GMT

Educational resources and services provider China Education Alliance (NYSE Amex:CEU) reported net income of $4.57 million for the fourth quarter of 2009, up 13.5% year-on-year and 9.6% from the previous quarter. EPS was $0.15 per diluted share, up one cent sequentially. The company generated...

Ctrip to Take Stake in China Lodging, BTG-Jianguo

Mon, 15 Mar 2010 10:45:46 GMT

Online travel services provider Ctrip.com International (Nasdaq:CTRP) has made separate agreements to acquire 8% and 15% stake in two hotel operating companies, China Lodging Group and BTG-Jianguo Hotels & Resorts, respectively, Ctrip.com announced March 12. China Lodging Group, the operator...

Chinese Yuan is Not Undervalued, Says Premier

Mon, 15 Mar 2010 10:39:29 GMT

Chinese Premier Wen Jiabao said March 14 that he does not believe that the Chinese yuan is undervalued, Sina reports quoting Wen from a news conference at the conclusion of the ten-day National People's Congress. We stand for free trade and oppose the use of coercion to force a country to appreciate...

Shanda, CCTV Online Sub to Link Up, Form Game JV

Mon, 15 Mar 2010 10:38:19 GMT

Shanda (Nasdaq:SNDA) and China Central Television's (CCTV) national online TV station CNTV plan to cooperate in various internet services, such as online games, video, literature, music, wireless products and online platforms, qq.com reported March 15. The two companies aim to form a joint venture...

Tianwei Group Signs RMB 4b Yangzhou Module Project

Mon, 15 Mar 2010 10:35:45 GMT

Solar cell manufacturer Baoding Tianwei Baobian Electric (600550.SH) parent company Baoding Tianwei Group has agreed to invest RMB 4 billion in a solar module project in Yangzhou, Jiangsu province, Yangzhou Daily reported March 15. Baoding Tianwei SolarFilms, a subsidiary of Baoding Tianwei...

CNOOC Plans $3.1b Latin American JV

Mon, 15 Mar 2010 10:30:37 GMT

China National Offshore Oil Corporation (CNOOC) (0883.HK, NYSE: CEO) has proposed to invest $3.1 billion in Bridas Energy Holdings' oil and gas exploration and production subsidiary Bridas Corporation to form a 50-50 joint venture, according to a CNOOC announcement on March 15. Bridas Corporation...

New World Dept Store: H2 Profit Up 5% Y-o-y

Mon, 15 Mar 2010 10:30:20 GMT

New World Department Store (0825.HK) recorded revenue of HK$988.6 million in the six months ended December 31, 2009, up 11.8% year-on-year, while net profit rose 5.2% year-on-year in the same period to HK$272 million, according to the company's financial report issued March 15. The company attributed...

RMB 22b Shanghai-Hangzhou Railway Approved

Mon, 15 Mar 2010 10:25:33 GMT

A 199.4-kilometer high-speed maglev railway line that will run between Shanghai and Hangzhou, Zhejiang province, at an average speed of 430 kilometers per hour has been granted second-round approval, Sina reports March 15 quoting Ministry of Railway Chief Designer Zheng Jian. The project is expected...

Alibaba.com Forms RMB 1b Disputes Pay-Out Fund

Mon, 15 Mar 2010 10:25:17 GMT

Hangzhou-based business-to-business (B2B) e-commerce site Alibaba.com (1688.HK) has launched a RMB 1 billion credit guarantee fund for small and medium-sized businesses, 163.com reported March 15. Alibaba.com CEO David Wei said the fund will pay out compensation while trade disputes are settled,...

Alipay Users Hit 300m

Mon, 15 Mar 2010 10:20:47 GMT

Alibaba's online payment tool Alipay announced March 15 that it has recorded 300 million users, 163.com reports. Alipay has 460,000 partner sites in addition to Alibaba's consumer-focused e-commerce site Taobao.com, the report said. Alipay

Global Sources (GSOL) Monthly - March 15, 2010

Mon, 15 Mar 2010 10:19:53 GMT

HP Apologizes Following Quality Complaints

Mon, 15 Mar 2010 10:18:31 GMT

China's General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) has begun an investigation into HP (NYSE:HPQ) products, after receiving a complaint about "quality problems" from legal counsel representing 60 HP customers, xinhuanet.com reported quoting an AQSIQ chief on...

Sino-Ocean Land Secures RMB 4b Beijing Parcel

Mon, 15 Mar 2010 10:13:40 GMT

Sino-Ocean Land Holdings (3377.HK) has purchased a Beijing residential land parcel with ground floor area of 206,270 square meters for RMB 4.08 billion, reports guandian.cn March 15. Sino-Ocean Land has also acquired a land parcel in Qingdao, Shandong Province for RMB 1.56 billion, or RMB 195,00...

China's Fiscal Revenue Up 32.9% Y-o-y in Jan, Feb

Mon, 15 Mar 2010 10:05:40 GMT

China's fiscal revenue, the sum of the government's tax revenues, administrative fees and income from state-owned assets, totaled RMB 1.36 trillion in the first two months of 2010, up 32.9% from the first two months of 2009, according to statistics released by the Ministry of Finance on March 14. Fiscal...

Shanghai Dips Below 3,000; Finance, Resources Weigh

Mon, 15 Mar 2010 10:00:50 GMT

The Shanghai Composite Index fell 1.21% to close at 2,976.94, while the Shenzhen Composite Index skidded 1.16% to end at 1,134.17 on Friday, March 12. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were RMB 74.78 billion and RMB 30.8 billion, respectively. Securities, banks and insurers...

H-Shares Follow Mainland Stock Slump

Mon, 15 Mar 2010 10:00:22 GMT

The Hang Seng Index declined 0.62% to close at 21,079.1 on Monday, March 15, in main board trading volume of HK$49.39 billion. Coal stocks led the descent, with China Coal Energy (1898.HK, 601898.SH) plunging 4.33%, China Shenhua Energy (1088.HK, 601088.SH) falling 3.89%, followed by metals miners...

China Lodging Sets IPO Price, Targeting $92-110m

Mon, 15 Mar 2010 10:00:05 GMT

China Lodging Group, the operator of Shanghai-based economy hotel chains Hanting Express Hotel, Hanting Seasons Hotel and Hanting Hi Inn, expects its initial public offering of 9 million American Depositary shares to price at between $10.25 and $12.25 per ADS, the company said in a March 12 filing with...

Baidu (BIDU) Weekly - March 15, 2010

Mon, 15 Mar 2010 09:11:55 GMT

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