JLM Pacific Epoch

Online Games: Weekly Update

Fri, 20 Nov 2009 13:37:05 GMT

The China Report: Weekly Edition - November 20, 2009

Fri, 20 Nov 2009 13:10:27 GMT

Financials: Banking Survey

Fri, 20 Nov 2009 11:22:04 GMT

Suntech Q3 Revs Up 50%, Plans 2010 Expansion

Fri, 20 Nov 2009 10:48:45 GMT

Photovoltaic (PV) module manufacturer Suntech Power Holdings (NYSE:STP) booked net income of $29.8 million in the third quarter of 2009, or $0.16 per diluted ADS, up from $10 million in the prior quarter, the company announced August 20. Consolidated gross profit margin was 17.8% in the period,...

Update: 7 Days Inn IPO Raises $111m

Fri, 20 Nov 2009 10:45:37 GMT

Economy hotel chain 7 Days Group Holdings (NYSE:SVN) set its initial public offering (IPO) price per American depository share (ADS) at $11 to raise a total of $111 million, TechWeb reported November 20. Trading of the company's shares, under the ticker "NYSE:SVN," will start next Friday,...

Shanda MMO Calendar: OBs, CBs and Alphas

Fri, 20 Nov 2009 10:30:37 GMT

Shanda (Nasdaq:SNDA) plans to start open beta testing of its licensed 2D turn-based MMORPG TS Online 2 on November 25, the company announced on its official site on November 20. Shanda will give away RMB 688 in gift packages and virtual items to gamers in six promotions during the testing,...

Changyou Confirms MMO Licensing Fee

Fri, 20 Nov 2009 10:18:33 GMT

Sohu's (Nasdaq:SOHU) online gaming subsidiary Changyou.com (Nasdaq:CYOU) has confirmed rumors that it paid RMB 100 million to license 3D martial arts MMORPG Zhonghua Yingxiong from Taiwanese developer Chinese...

NetEase: "TX2" Expansion on Dec. 11

Fri, 20 Nov 2009 10:18:08 GMT

NetEase (Nasdaq:NTES) plans to release a new expansion "Feilong Zaitian" ("Flying Dragon in the Sky") for its in-house developed 3D MMORPG TianXia II (TX2) on December 11. The expansion will add 3D scenes, new riding animals, monsters and battlefields to the game.

Tencent Starts "Fantasy World" Alpha

Fri, 20 Nov 2009 10:15:51 GMT

Tencent (0700.HK) began first-round technology testing of its in-house developed 2D Chinese fantasy MMORPG Fantasy World (Huan Xiang Shi Jie), the sister game of QQ Fantasy, on November 19, according to a company announcement. Tencent has raised the number of levels to 75 and added...

Retailer Wumart Inks RMB 4b Credit Line

Fri, 20 Nov 2009 10:15:30 GMT

Beijing-based retail group Wumart Stores (8277.HK) signed a contract on November 18 to extend RMB 4 billion in credit from the Beijing Agriculture and Commercial Bank over the next three years, reports 21st Century Business Herald. Wumart plans to use the financing to resolve problems with...

Giant Interactive Launches SNS Site Qule

Fri, 20 Nov 2009 10:15:11 GMT

Giant Interactive (NYSE:GA) has quietly released a social networking service site at Qule.com, reports 163.com. Users can register for the site after receiving an invitation from existing users, said the report. Giant Interactive completed a $51 million investment in Shanghai social networking...

CDC Gets Go-Ahead for "LOTRO" Launch

Fri, 20 Nov 2009 10:12:50 GMT

CDC Corporation's (Nasdaq:CHINA) online games subsidiary CDC Games has received final government approvals for its licensed MMORPG The Lord of the Rings Online ("LOTRO"), and plans to begin commercial play next week, the company announced November 18. CDC Games reported 2.2 million registered...

China Mobile, Telecom Report October User Stats

Fri, 20 Nov 2009 10:10:56 GMT

China Mobile (NYSE:CHL, 0941.HK) added 5.1 million new subscribers in October, bringing its total customers to 513.47 million, the company announced November 20. The company reported that 2.31 million G3 subscribers used its 3G network services in October, up from [url=http://www.jlmpacificepoch.com/newsstories-id=157821_0_5_0_M]1.66...

Tencent's QQ Mail Starts Micro-Blogging

Fri, 20 Nov 2009 10:08:54 GMT

Tencent (0700.HK) released a Twitter-like micro-blogging function "Guangbo" (literally, "Broadcast") as part of its QQ Mailbox service, Sohu reported November 19. The company released its "Taotao" micro-blogging service in 2007, but halted service in June this year, the report said. NetEase (Nasdaq:NTES)...

Kingsoft to Release "First Myth 2" Expansion

Fri, 20 Nov 2009 10:06:01 GMT

Chinese software and online game company Kingsoft Corporation (3888.HK) plans to release a new expansion, "Dongtian Fudi," of its in-house developed 2D MMORPG The First Myth 2 on November 27, 17173.com reported November 20. The expansion will add a new systems including a "banking system,"...

Giant's "Dragon Soul" to Enter 3rd Alpha

Fri, 20 Nov 2009 10:02:07 GMT

Shanghai-based online game company Giant Interactive (NYSE:GA) will start final-round alpha testing of its in-house developed 3D MMORPG Dragon Soul ("Long Hun") on November 26. The company plans to launch eight promotional activities, with giveaways including five free Disney MP3 players...

A-Shares Mixed, Power Cos Warm to Price Hike News

Fri, 20 Nov 2009 10:00:30 GMT

The Shanghai Composite Index dropped 0.37% to close at 3,308.34, while the Shenzhen Composite Index ended 0.51% higher at 1,208.82 on November 20. Trading volume on the Shanghai and Shenzhen Stock Exchanges dropped from the previous day to RMB 200.56 billion and RMB 125.10 billion, respectively. National...

H-Shares Retreat for Fourth Day

Fri, 20 Nov 2009 10:00:08 GMT

The Hang Seng Index dropped 0.83% to close at 22,455.84 on November 20, in main board trading volume of HK60.50 billion. Shares in electronics companies finished the day upbeat, as Goldin Properties (0283.HK) posted a gain of 9.65%, Regent Manner International Holdings (1997.HK) increased 5.13% and...

Telecom Co Montnets Receives RMB 35m

Fri, 20 Nov 2009 09:58:46 GMT

Shenzhen-based telecom and software company Montnets has signed agreements to receive RMB 35 million in venture capital from three investors: Tiantu Capital, Green Pine Capital Partners and U.S./Indonesian "Xiong Shi" ("Bear Clan") Group, reports Shenzhen Special Zone Daily. The company plans to use...

China Resources Q3 Profits Top HK$1b

Fri, 20 Nov 2009 09:55:48 GMT

China Resources Enterprise (0291.HK) booked profit of HK$1.04 billion in the third quarter, up 55.4% year-on-year, the company announced November 19. Revenue rose 7.8% year-on-year to HK$19.76 billion in the period. For the first nine months of the year, China Resources revenues rose 9.3% year-on-year...

Mobile Co Winhi Seeks '09 Alternext Listing

Fri, 20 Nov 2009 09:49:03 GMT

Shenzhen-based mobile information service provider Winhi plans raise "within RMB 100 million" through an initial public offering in late 2009 on the NYSE Alternext, the small to mid-sized board of the NYSE Euronext, reports 163.com quoting Winhi CEO Yang Yong. Winhi currently records annual revenue of...

China Online Banking Grows 40% YoY in '09

Fri, 20 Nov 2009 09:47:45 GMT

China's online banking transaction volumes are expected to come in between RMB 440 trillion and RMB 450 trillion in 2009, reports National Business Daily quoting China Financial Certification Authority Vice General Manager Wei Hedong on November 19. Nationwide, transaction volume for online banking was...

Chinese Wiki Site Hudong Enters Overseas Market

Fri, 20 Nov 2009 09:38:32 GMT

Beijing-based wiki site Hudong.com has begun to offer its services to overseas Chinese, reports DoNews quoting site CEO Pan Haidong. Hudong.com has partnered several sites before releasing its overseas service, including Sina's (Nasdaq:SINA) North American channel and other overseas Chinese-language...

Softbank to Invest in Chinese Mobile Cos

Fri, 20 Nov 2009 09:30:44 GMT

Softbank is interested in investing in Chinese mobile content and application companies by making purchases of 20-30% stake, rather than acquiring the companies, reports 163.com quoting company CEO Masayoshi Sun on November 19. Softbank hopes to transfer social networking service games and other mobile...

Maoye Buys Wuxi Property Co, Plans Mall

Fri, 20 Nov 2009 09:30:27 GMT

Shenzhen-based retailer Maoye International Holdings' (0848.HK) wholly owned subsidiary Zhongzhao Investment Management has signed a share transfer agreement with Jiangxu Wuxi First Department Store (Group) to purchase a 90% equity interest in Wuxi Yibai Property for RMB 337.5 million, Maoye Int'l...

Goldcool Plans Overseas "Magic World II" R&D Center

Fri, 20 Nov 2009 07:40:46 GMT

Shanghai-based online game developer Goldcool plans to establish a research and development center for its in-house developed MMORPG Magic World Online II in North America, 17173.com reported November 19. Goldcool spent three years developing the game, said the report.

Ex-Maoye GM Takes Intime VP Slot

Fri, 20 Nov 2009 06:38:48 GMT

Hangzhou-based Intime Department Store (1833.HK) has appointed Zou Minggui, former general manager of Shenzhen-based retailer Maoye International Holdings (0848.HK), as its new vice president and general manager of central Zhejiang region, linkshop.com.cn reported citing an unnamed insider....

China Power Int'l New Energy Starts Wind Projects

Fri, 20 Nov 2009 06:34:40 GMT

China Power International New Energy Development (0238.HK) began installation work on its 201MW wind projects in Guazhou, Gansu province and a 99MW project in Yumen, also in Gansu, in-en.com reported November 19. Construction is scheduled to finish before the end of 2010, according to the report.

eFuture Ends Q2 in Red as Revs Slide

Fri, 20 Nov 2009 05:48:22 GMT

Software and service company eFuture Information Technology Inc. (Nasdaq:EFUT) made a net loss of RMB 11.38 million ($1.67 million) in the quarter ended September 30, the company's fiscal second quarter, compared with a net income of RMB 0.97 million in the same period last year, the company announced...

Trina Q3 Profits Top $40m

Thu, 19 Nov 2009 11:19:45 GMT

Jiangsu-based vertically integrated photovoltaic (PV) products manufacturer Trina Solar Ltd. (NYSE:TSL) reported net income of $40.1 million in the third quarter of 2009, against $18.9 million in the prior quarter and $32.1 million in the year-ago period. The figure included the impact of approximately...

NetEase Q3 Profit at $58m, Revs Flat QoQ

Thu, 19 Nov 2009 11:00:41 GMT

Internet and online game service provider NetEase (Nasdaq:NTES) booked net profit of $57.7 for the third quarter of 2009, or diluted earnings of $0.44 per American depositary share, compared to $45.9 in the year-ago period and $68.6 in the second quarter of 2009. Total revenues grew 9% annually...

Real Estate Data Weekly Update

Thu, 19 Nov 2009 10:52:48 GMT

Solarfun Back to Profit, Tops 100MW in Q3

Thu, 19 Nov 2009 10:35:34 GMT

Vertically integrated ingot, cell and module maker Solarfun Power Holdings (Nasdaq:SOLF) reported net income attributable to shareholders of RMB 136.6 million ($20 million) in the third quarter of 2009, or net income of RMB 2.53 ($0.37) per basic ADS, compared to net losses of RMB 44.3 million...

CCTV Reaps RMB 11b for 2010 Ads

Thu, 19 Nov 2009 10:33:57 GMT

China Central Television (CCTV) has signed advertising contracts for 2010 worth a total of RMB 10.97 billion, up 18.47% from RMB 9.26 billion last year, according to a report on CCTV's official site. A total of 50 international companies participated in the bidding, according to CCTV Advertising Department...

GCL-Poly Sells 20% Stake to China SWF

Thu, 19 Nov 2009 10:31:42 GMT

Hong Kong-based power plant operator GCL-Poly Energy Holdings (3800.HK) has agreed to issue 3.11 billion new shares to the state-owned asset manager China Investment Corporation (CIC) at a price of HK$1.79 per share, to raise HK$5.5 billion, GCL-Poly announced November 18. CIC will hold 20.09%...

Giant to Air "ZT" Ads, Spends RMB 50m on CCTV Space

Thu, 19 Nov 2009 10:30:16 GMT

Giant Interactive (NYSE:GA) is preparing to shoot a television ad for the "green" version of its in-house developed MMORPG ZT Online, reports Sina. The company bid RMB 48.9 million at yesterday's Golden Resources bid...

Unicom Announces October 2G, 3G Data

Thu, 19 Nov 2009 10:24:28 GMT

China Unicom (NYSE:CHU, 0762.HK, 600050.SH) added 801,000 2G users in October to reach a total of 143.6 million 2G subscribers, the company announced on November 19. Unicom's 3G users totaled 1.02 million, including 215,000 3G data card subscribers, in October. The company gained...

A-Shares Gallop on Nat'l TV Ad Bidding

Thu, 19 Nov 2009 10:00:46 GMT

The Shanghai Composite Index increased 0.53% to close at 3,320.61, while the Shenzhen Composite Index ended 1.20% higher at 1,202.70 on November 19. Trading volume on the Shanghai and Shenzhen Stock Exchanges increased from the previous day to RMB 194.72 billion and RMB 125.47 billion, respectively....

H-Shares Drop, Longfor Up 13% on Debut

Thu, 19 Nov 2009 10:00:07 GMT

The Hang Seng Index dropped 0.86% to close at 22,643.16 on November 19, in main board trading volume of HK69.28 billion. Longfor Properties (0960.HK) rose 13.3% from its issue price to close at HK$8.01 on its first day of trading on the Hong Kong Exchange. The Chongqing-based real estate developer...

QS Solar JV Establishes Thin Film PV Project

Thu, 19 Nov 2009 09:49:05 GMT

Henan Qiangsheng Photovoltaic Technology Company, a joint venture between Shanghai-based QS Solar and Henan Kunlun Solar Company, broke ground on a ten-line amorphous silicon thin-film solar cell factory with total annual capacity of 350MW in Yanshi, Henan province on November 18, solarbe.com reports....

SZNE, Hungarian Institute Join for �80m PV Project

Thu, 19 Nov 2009 09:42:54 GMT

Shenzhen New Energy Development (SZNE) has signed with the Hungarian National Technology Research Institute to develop a �80 million thin film solar cell project in China, solarbe.com reported November 19 citing a company insider. The initial phase, a 36MW thin film solar cell production line, will require...

Baidu Broadens Japan B2C Site to Korea

Thu, 19 Nov 2009 09:35:45 GMT

Baidu (Nasdaq:BIDU) has updated its Chinese-language business-to-consumer (B2C) e-commerce platform for Japan, changing its title and domain name from "Window on Japan" at japan.baidu.com to "Window on the World" at world.baidu.com, DoNews reported November 18. The updated site has sections for...

Unicom Updates on 3G, Markets iPhone on Taobao

Thu, 19 Nov 2009 09:35:39 GMT

China Unicom (NYSE:[CHU, 0762.HK,600050.SH] has reached 110,000 WCDMA base stations, Sina reported November 19 quoting Unicom Chairman Chang Xiaobing. Unicom intends to strengthen its mobile data and application business to offset declining revenue from its voice business, said Chang. Unicom...

China Mobile on '09 Subsidies, Lower Capex in 2010

Thu, 19 Nov 2009 09:20:42 GMT

China Mobile (NYSE:CHL, 941.HK) Chairman and CEO Wang Jianzhou said that the company plans to spend a total of RMB 12 billion to subsidize handsets in 2009, refuting rumors that China Mobile would spend RMB 30 billion this year, reports Hexun. The carriers spent RMB 4 billion on handset subsidies...

Recruitment Site Job36: Funding from 8 Investors

Thu, 19 Nov 2009 08:18:35 GMT

Shenzhen-based online recruitment site Job36.com has received a new round of funding from eight investors, including Shenzhen Capital Group, Shenzhen Fortune Venture Capital, IER Venture Capital and Oriental Fortune Capital, reports ChinaVenture quoting the company's announcement on Wednesday. Site CEO...

Linuo Expands Shandong PV Project

Thu, 19 Nov 2009 07:32:45 GMT

Jinan-based Linuo Group broke ground on the 200MW-per-annum second phase of its photovoltaic (PV) cell manufacturing project on November 18, according to an announcement on the company's official site. The first phase project, producing mono-crystalline cells, came on-stream in July 2008, while the second...

Solargiga Wins 13.5MW Liaoning PV Project Bid

Thu, 19 Nov 2009 07:28:03 GMT

Solargiga Energy Holdings (0757.HK) made the successful bid for a 13.5MW photovoltaic (PV) power plant in Liaoning province, the company announced November 18. The 13.5MW project will consist of large-scale on-grid PV power generation of 10MW, 3MW of user-side on-grid generation and 500kW of user-side...

Greenland Snaps Up Chengdu Land for RMB 476m

Thu, 19 Nov 2009 07:03:36 GMT

Real estate developer Shanghai Greenland Group has purchased a 137,900-square-meter commercial and residential land parcel in Chengdu, Sichuan province for RMB 476 million, guandian.cn reported November 17 citing a Chengdu Bureau of Land and Resources announcement.

Home Inns (HMIN) November Update

Wed, 18 Nov 2009 12:13:16 GMT

Sunergy Q3 Profit Nears $8m, Raises FY Forecast

Wed, 18 Nov 2009 11:21:14 GMT

Nanjing-based solar cell maker China Sunergy (Nasdaq:CSUN) booked GAAP net income of $7.8 million and earnings of $0.20 per ADS in the third quarter of 2009, compared to GAAP net income of $0.2 million in the year-ago period and GAAP net income of $1.7 million in the previous quarter, Sunergy...

MoC Turns Screw on Online Gaming

Wed, 18 Nov 2009 11:19:44 GMT

The Ministry of Culture (MoC) released a circular November 18 requiring game companies to improve their product structures, and limit player kill (PK) and marriage systems. According to the announcement, companies need to change game models in which players reach higher levels by killing monsters, and...

LDK to Sell 15% Stake in Poly Plant

Wed, 18 Nov 2009 11:05:53 GMT

Jiangxi-based multicrystalline wafer maker LDK Solar (NYSE:LDK) has agreed to sell a 15% ownership stake in its 15,000 metric ton (MT) annualized capacity polysilicon plant in Xinyu, Jiangxi province to Jiangxi International Trust and Investment for approximately RMB 1.5 billion ($219 million),...

Gome Q3 Profit Hits RMB 390m

Wed, 18 Nov 2009 11:02:03 GMT

Home appliance and electronics retailer Gome (0493.HK) booked profit of RMB 969.7 million in the first nine months of 2009, down from RMB 1.64 billion in the year-ago period and up from RMB 580 million in the first six months of 2009, the company announced November 18. Revenue declined to RMB...

KFC at 2,700 China Branches, Pizza Hut Hits 440

Wed, 18 Nov 2009 11:01:43 GMT

Yum! (NYSE:YUM) China has opened more than 2,700 KFC restaurants, 440 Pizza Hut restaurants, 80 Pizza Hut delivery locations and 18 "Dong Fang Ji Bai" restaurants, KFC's localized chain, to date, xinhuanet.com reported November 18 quoting Yum! China President Su Jingshi. All together, the restaurants...

Third "Perfect World" Version to OB on 12/2

Wed, 18 Nov 2009 10:55:30 GMT

Perfect World (Nasdaq:PWRD) plans to start open beta testing of Perfect World Qianzhuan "Ren Yu Chuanshuo" (roughly meaning "the legend of men and fish"), the third version of its in-house developed 3D MMORPG Perfect World, on December 2, the company said November 18. Perfect...

New Oriental (EDU) November Update

Wed, 18 Nov 2009 10:49:18 GMT

Motorola Completes 4G TD Trials

Wed, 18 Nov 2009 10:46:26 GMT
Motorola (NYSE:MOT) has completed and passed TD-LTE key functionalities testing by China's Ministry of Industry and Information Technology (MIIT), the company announced November 17. The testing measures high-bandwidth network capacity and a number of key TD-LTE features, the statement said.

China Life 10-Month Premiums Down YoY

Wed, 18 Nov 2009 10:45:10 GMT
China Life Insurance (NYSE:LFC, 2628.HK, 601628.SH) recorded unaudited premium income of RMB 254.7 billion in the first ten months of 2009, the company announced November 17. October premiums grew 7.4% year-on-year to RMB 17.4 billion, reports Xinhua. China Life Insurance recorded premiums...

IBM to Build Li Ning Online Sales Platform

Wed, 18 Nov 2009 10:40:53 GMT
IBM (NYSE:IBM) will open the official online shopping mall built on its E-commerce platform for Chinese sports brand enterprise Li Ning (2331.HK), TechWeb reported November 17. Wang Yang, global Vice President of IBM and General Manager of IBM's China Development Center, also said that...

China Changes Tune to Foreign Funds in Historic Brands

Wed, 18 Nov 2009 10:40:17 GMT
China's Ministry of Commerce (MOFCOM) has already recognized 429 companies as "long-established brands" ("laozihao"), including some with foreign capital, in its on-going checks into the classification, reports Beijing Daily quoting MOFCOM Spokesperson Yao Jian on November 16. MOFCOM Vice Minister...

Unicom: 3G ARPU Exceeds RMB 100

Wed, 18 Nov 2009 10:39:37 GMT
China Unicom (NYSE:CHU, 0762.HK, 600050.SH) Chairman Chang Xiaobing said monthly average revenue per user (ARPU) among the operator's 3G user base is over RMB 100, 163.com reported November 18. According to Chang, the average data flow per 3G user is "clearly" above the average 2G...

Sina Invests in SNS Site Kaixin001, Says VC

Wed, 18 Nov 2009 10:36:08 GMT
Sina (Nasdaq:SINA) has acquired stake in Beijing-based social networking service site Kaixin001.com through an investment, reports 163.com quoting Deng Feng, partner at Kaixin001.com's existing investor Northern Light Venture Capital, on November 18. Deng did not disclose further details of the...

Burberry to Double China Franchises to 100

Wed, 18 Nov 2009 10:33:02 GMT
British luxury group Burberry (LSE:BRBY) plans to expand its franchised China stores to a total of 100 in the next few years, reports xinhuanet.com quoting company CEO Angela Ahrendts on November 17. The company currently has 44 franchises in China, and a total of more than 90 sales locations...

E-House Income Up 220%, Revs Beat Guidance

Wed, 18 Nov 2009 10:33:00 GMT
Shanghai-based real estate services company E-House (China) Holdings Limited (NYSE:EJ) reported net income of $34.9 million in the third quarter of 2009, an increase of 220% from the year-ago period, according to its third quarter financial report released November 17. The company made total revenues...

CDEL '09 Revs Up 71%, Profits Slump 70%

Wed, 18 Nov 2009 10:30:53 GMT
Beijing-based online education provider China Distance Education (CDEL) (NYSE:DL) booked net income of $1.3 million in the company's fiscal fourth quarter ending September 30, 2009, representing a decrease of 51.6% year-on-year, and bringing the company's full year profit to $1.2 million, down...

National LCD Regulations in the Works, Says MIIT

Wed, 18 Nov 2009 10:18:57 GMT
China's Ministry of Industry and Information Technology is currently formulating new regulations for the LCD industry, reports China Securities Journal quoting MIIT official Xiao Hua. China should plan on a national level to avoid wasting resources through the duplicate construction of advanced LCD...

Longfor Finalizes IPO Price

Wed, 18 Nov 2009 10:13:08 GMT
Chongqing-based real estate developer Longfor Properties has set its initial public offering (IPO) price at HK$7.07 per share, to generate estimated net proceeds of approximately HK$6.7 billion, the company announced November 18. The company plans to use around 44% of the proceeds to fund outstanding...

Poly Sub Acquires RMB 390m Shenyang Land Parcel

Wed, 18 Nov 2009 10:10:04 GMT
Poly Real Estate Group's (600048.SH) Shenyang subsidiary Guangtian Real Estate has purchased a 214,481-square-meter land parcel in Changchun, Jilin province for RMB 393.5 million, guandian.cn reported November 17. The land parcel includes a residential area of 171,585 square meters and a commercial...

A-Shares Top 3,300, Shanghai at 3-Mo High

Wed, 18 Nov 2009 10:01:20 GMT
The Shanghai Composite Index increased 0.62% to close at 3,303.23, while the Shenzhen Composite Index ended 0.28% higher at 1,188.47 on November 18. Trading volume on the Shanghai and Shenzhen Stock Exchanges declined from the previous day to RMB 181.54 billion and RMB 114.22 billion, respectively. ...

H-Shares Sink, TCL Comm Posts 15% Gain

Wed, 18 Nov 2009 10:00:12 GMT
The Hang Seng Index dropped 0.32% to close at 22,840.33 on November 18, in main board trading volume of HK$76.69 billion. Trading in telecom stocks remained upbeat with shares of China Mobile (NYSE:CHL, 0941.HK) up 2.49% and China Unicom (NYSE:CHU, 0762.HK) gaining 1.90%. Haier Electronics (1169.HK)...

Renren.com to Raise Rev Share for Content Providers

Wed, 18 Nov 2009 09:59:54 GMT
Oak Pacific Interactive has raised the share of revenue it offers third party developers to up to 56% for applications on its social networking (SNS) site Renren.com (formerly Xiaonei.com), National Business Daily reported November 18 citing a document obtained from reliable sources. Developers can earn...

Babytree CEO: Corner Turned

Wed, 18 Nov 2009 09:56:02 GMT
Social networking and parental information company Babytree became profitable in October this year, ChinaByte.com reported November 18 quoting company Chairman and CEO Allen Wang. The company's major revenue source is advertising and e-commerce, with the latter contributing around 10% of the site's total...

China Mobile Joins Chang'an to Develop 3G Car

Wed, 18 Nov 2009 09:38:42 GMT
China Mobile (NYSE:CHL,0941.HK) has signed a contract with Chongqing Chang'an Automobile (000625.SZ) to introduce 3G mobile technology in some Chang'an vehicles, reports Chongqing Economic Daily. Within the next two years, care owners may be able to conduct video conference calls and monitor,...

Solar Industry Weekly Update

Wed, 18 Nov 2009 09:05:38 GMT

Acorn Income at $2.7m, Slashes FY Forecast

Wed, 18 Nov 2009 07:53:29 GMT
Shanghai-based multi-platform marketing company Acorn International (NYSE:ATV) reported net income attributable to the company of $2.7 million for the third quarter of 2009, compared to a $10.8 million loss in the third quarter of 2008 and $11.4 million income in the previous quarter. Net...

Car Site Xgo Receives RMB 10m Financing

Wed, 18 Nov 2009 07:37:20 GMT
Beijing-based automobile review site Xgo.com.cn has received RMB 10 million investment from an unnamed Internet sector company, Sina reported citing Xgo.com.cn's new general manager, former Tencent (0700.HK) portal QQ.com director Lin Mingjun on November 17. According to Lin, the site plans to...

Forte Oct Contract Sales Value Jumps 500% YoY

Wed, 18 Nov 2009 07:27:16 GMT
Shanghai Forte Land (2337.HK) made contract sales of 91,879 square meters for RMB 1.27 billion in October 2009, against sales of 25,739 square meters for RMB 264 million in the same period last year, the company reported November 17. The company's total sales in the 10 months from January to October...

Canadian Solar Q3, 2010 Shipments to Double

Tue, 17 Nov 2009 23:27:12 GMT
Photovoltaic products manufacturer Canadian Solar Inc (Nasdaq:CSIQ) recorded net income of $25.3 million in the third quarter of 2009, or $0.69 per diluted share, compared to net income of $11.1 million in the year-ago period and $17.7 million in the previous quarter. Gross margin was 16.3% in...

Sina Q3 Revs Up 7% on Improved Ads

Tue, 17 Nov 2009 11:12:12 GMT
Sina's (Nasdaq:SINA) net revenues rose 7% quarter-on-quarter on an improving advertising market to reach $96.4 million, surpassing the company's previous guidance of between $91 million and $94 million, the company, an online media and mobile value-added services provider, announced November 17....

ReneSola Widens Loss, 2010 Forecast Sunny

Tue, 17 Nov 2009 11:10:35 GMT
Solar wafer manufacturer ReneSola Ltd (NYSE:SOL, AIM:SOLA) reported a third quarter net loss of $10.2 million, or $0.14 per ADS, compared to net income of $32.4 million in the third quarter of last year and a net loss of $3.6 million in the previous quarter. Customer demand rebounded strongly...

China Mobile Preps Demo 4G Service for Expo

Tue, 17 Nov 2009 10:45:44 GMT
China Mobile (NYSE:CHL, 941.HK) plans to launch a 4G demo network based on its TD-LTE standard during the Shanghai Expo next summer, 163.com reported citing China Mobile President Wang Jianzhou. The company has agreed with Jiangsu GaoTong Technology Industry (GT Mobile) to develop FDD (WCDMA-based)...

China Education Alliance Q3 Earnings Leap 50% YoY

Tue, 17 Nov 2009 10:44:00 GMT
Educational resources and services provider China Education Alliance (NYSE Amex:CEU) booked net income of $4.17 million for the third quarter of 2009, up 51.4% year-on-year. The company generated $10.23 million in revenues in the quarter, an increase of 43.3% compared with the same quarter last...

Suning Speeds Up Plan to Cross Straits

Tue, 17 Nov 2009 10:43:04 GMT
Home appliance and electronics retailer Suning (002024.SZ) may bring forward its plan to set up 3C (computer, communication and consumer electronics) chain stores in Taiwan to next year, Nanfang Daily reported November 17. The report noted that previously Suning aimed to establish its presence...

Shanghai Allows Sliding Interest on First Home Loans

Tue, 17 Nov 2009 10:42:56 GMT
Shanghai will introduce a flexible system of interest rates on mortgages for first home buyers, linked to down payment amounts, qq.com reported November 17. China Construction Bank's (601939.SH, 0939.HK) Shanghai Branch has already started linking mortgage rates to down payments, with customers...

Mainland, Taiwan Sign Financial Sector MoUs

Tue, 17 Nov 2009 10:41:48 GMT
Mainland China and Taiwan have signed three memoranda of understanding (MoU) on financial information exchange, financial supervision, crisis management and cross-straits contact between regulatory bodies, caihuanet.com reported November 17 citing Chen Chong, an official from Taiwan's Financial Supervisory...

Reports: Baidu Develops Handset, Post Bar Functions

Tue, 17 Nov 2009 10:41:34 GMT
According to an unnamed Baidu (Nasdaq:BIDU) employee, the company plans to release a Chinese-language input method editor (IME) for handsets at the same time as its wireless product "Baidu Palm" (Zhang Shang Baidu), reports Sina. The handset IME is free of charge, said the employee.

A-Power Shifts Manufacturing Stateside

Tue, 17 Nov 2009 10:41:06 GMT
A-Power Energy Generation Systems (Nasdaq:APWR) has signed a cooperation agreement with the U.S. Renewable Energy Group (US-REG) to establish a 1,100MW per annum wind energy turbine production plant in the United States, A-Power announced November 16. Upon completion, the facility is expected...

Spreadtrum Swings to Profit in Q3

Tue, 17 Nov 2009 10:40:56 GMT
Wireless baseband chipset provider Spreadtrum Communications, Inc. (Nasdaq:SPRD) reported net income of $0.6 million, or $0.01 per basic and diluted ADS, for the third quarter of 2009, compared to a net loss of $31.3 million in the year-ago period and a net loss of $13.1 million in the previous...

Lotte Acquisition Under Scrutiny of Anti-Monopoly Law

Tue, 17 Nov 2009 10:39:57 GMT
China's Ministry of Commerce is conducting an investigation into the acquisition of Chinese supermarket operator Times Ltd. (1832.HK) by Lotte Hong Kong, a subsidiary of South Korean department store operator Lotte Shopping (023530.SEO), under China's anti-monopoly law, reports Beijing...

Anta Q2 Orders Up 16% YoY

Tue, 17 Nov 2009 10:39:13 GMT
Branded sportswear enterprise ANTA Sports Products (2020.HK) orders grew in value by 16% year-on-year at its 2010 second quarter Trade Fair held at the end of October, the company announced November 17.

Tencent Turns Tables on Sogou as QQ Suit Heard

Tue, 17 Nov 2009 10:38:25 GMT
Tencent (0700.HK) has launched a lawsuit against Sohu's (Nasdaq:SOHU) "Sougou Pinyin" input software in Beijing's No.1 Intermediate People's Court, DoNews reports. Tencent accused Sougou Pinyin of "false propaganda" and is seeking a court order to modify the software's settings and halt...

Longtop Beats Fiscal Q2 Guidance, Raises Outlook

Tue, 17 Nov 2009 10:37:17 GMT
Finance industry software and service provider Longtop Financial Technologies Ltd. (NYSE:LFT) reported GAAP net income of $18.9 million in the quarter ended September 30, 2009, the company's fiscal second quarter, representing a 33.2% increase against the year-ago period. The company made $42.8...

VanceInfo Beats Rev Guidance With 45% Growth

Tue, 17 Nov 2009 10:37:12 GMT
Offshore software developer VanceInfo Technologies Inc. (NYSE:VIT) made net revenues of $40.2 million in the third quarter of 2009, up 45.2% year-on-year. The company attributed the increase primarily to the expansion of its China business, which accounted for $18.8 million, or 46.7%, of net revenues...

GCL Warns of HK$9m Impairment Loss

Tue, 17 Nov 2009 10:36:50 GMT
Hong Kong-based power plant operator GCL-Poly Energy Holdings (3800.HK) expects to record a HK$9 billion in non-cash impairment loss for the fiscal year ended December 31, resulting from its acquisition of Jiangsu Zhongneng Polysilicon Technology Development, the company announced November 17....

Tianwei Inks $45.5m Australian Wind Contract

Tue, 17 Nov 2009 10:35:09 GMT
Hebei-based power transformer and solar cell manufacturer Baoding Tianwei Baobian Electric Co. Ltd. (600550.SH) announced Monday that its wholly owned wind turbine subsidiary Baoding Tianwei Wind Power has signed a $45.5 million contact to supply 26 wind turbines with capacity of 1.5MW each to...

China's "Old-for-New" Subsidy Sales Top RMB 8b

Tue, 17 Nov 2009 10:30:59 GMT
According to China's Ministry of Commerce on November 16, 2.03 million new appliances or electronic products had been sold for a total of roughly RMB 8.02 billion under China's "old-for-new" subsidy program by November 16 in the program's nine trial cities and provinces, reports 163.com. Of the units...

360buy.com Wins Unicom iPhone Net Sales

Tue, 17 Nov 2009 10:28:00 GMT
Beijing-based IT product business-to-consumer e-commerce site 360buy.com has secured the exclusive online distribution rights to Apple's (Nasdaq:AAPL) iPhone from China Unicom (NYSE:CHU, 0762.HK, 600050.SH), donews.com reported November 16. The handset is now available for...

Baosteel Inks Ferrochrome Deal with India's FACOR

Tue, 17 Nov 2009 10:25:08 GMT
Shanghai Baosteel Group (Baosteel) subsidiary Baosteel Resources has signed its first foreign long-term ferrochrome contract with India's Ferro Alloys Corp (FACOR Group), Baosteel announced November 17.

NetDragon Preps Unlimited "Disney Fantasy" CB

Tue, 17 Nov 2009 10:23:30 GMT
Fuzhou-based online game company NetDragon (0777.HK) plans to start a new round of closed beta testing of its in-house developed 2.5D Q-style turn-based MMORPG Disney Fantasy Online on December 11. Gamer data will not be deleted after this round of testing, according to the company statement....