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Pacific Securities sees 2009 profit up 162%

Pacific Securities, a national comprehensive securities company of China, on Friday forecast its net profit in 2009 would grow 162 percent from a year ago. In a statement to the Shanghai Stock Exchange, Pacific Securities said its net profit for last year would tally around 405...

China Shipping Container Lines forecasts deficit for 2009

China Shipping Container Lines Co, the country's leading container shipping company, on Friday forecast its net profit in 2009 would post deficit from the previous year, without providing detailed data. The company attributed the deficit mainly to decreasing international ...

H&M China sales up to $219b

The Swedish fashion retailer Hennes & Mauritz AB (H&M) saw its China sales reach SEK 1.61 billion ($219.01 million) in 2008/2009 up 83 percent year-on-year, or 51 percent in local currency, the company said in its annual report yesterday. Its China growth pace seconds only to ...

China Datang expects 2009 profit to jump 120%

China Datang Corporation, one of the biggest power-generating groups in China, on Friday forecast its net profits in 2009 would jump at least 120 percent from the previous year. The sharp increase is boosted by promotion of on-grid prices for electricity and the decreasing fuel ...

China Minmetals: 2009 profit down 50% on falling commodity prices

China Minmetals Development Co, the nation's leading non-ferrous metal producer, said on Thursday its profit slumped at least 50 percent in 2009 year on year as the global economic crisis dampened commodity prices. Stagnant coke exports and recession in domestic iron and steel ...

SMIC to upgrade facilities in profit hunt

Semiconductor Manufacturing International Corp (SMIC) said yesterday that it plans to significantly boost its capital spending this year to upgrade its current facilities in an effort to improve competitiveness and return to profit. David Wang, the newly appointed chief executive ...

Rio Tinto employees charged with bribery

Four employees of Anglo-Australian mining giant Rio Tinto were charged with bribery and stealing trade secrets, a court statement said yesterday. The No 1 branch of the Shanghai People's Procuratorate laid the charges against Australian citizen Stern Hu, the former head of Rio ...

Orix Corp's China HQ to be Dalian

Japanese financial services firm to invest up to $3.2b over 3 years Japanese financial service group Orix Corporation announced plans yesterday to set up its China headquarters in Dalian, Liaoning province, in a bid to tap into the nation's growing financial markets. Established ...

Bus Online denies report

A top official from Bus Online Holdings yesterday denied media reports that a consortium led by Walt Disney was in talks to buy a stake in it. Reuters reported on Monday that a Disney-led consortium was in talks to buy 30 or 40 percent of Bus Online for more than $100 million ...

Disney, Google eye stake in China bus media firm

A consortium led by Walt Disney Co is in advanced talks to buy into China's largest in-bus digital media and advertising company, a deal that could offer the US entertainment giant a new platform to promote Mickey Mouse in China, three sources told Reuters. Google Inc, the world...

China First Heavy Industries breaks IPO price

BEIJING: China First Heavy Industries (CFHI), a leading heavy industry manufacturer, opened at 5.48 yuan ($0.8) per share for its debut at the Shanghai Stock Exchange, breaking its initial public offering (IPO) price. The northeastern Heilongjiang-based firm set its IPO price at ...

Hengrui Medicine posts soaring net profit in '09

Jiangsu Hengrui Medicine Co, China's largest manufacturing base of antineoplastics and the nation-appointed stupefacient manufacturer, said Monday its net profit in 2009 surged 59.16 percent year-on-year. In its annual report of 2009 to the Shanghai Stock Exchange, the company ...

Chinese drywall enterprises facing US litigation

Expert opinion: Face the challenge and turn crises into opportunity The US Cable News Network (CNN) this week began broadcasting a 30-second commercial in Asia emphasizing that products "Made in China" are the result of profit sharing and cooperation between parties intertwined ...

Steel industry to continue restructuring

China is to speed up restructuring in the steel sector, supporting the development of three to five major steel enterprises in an effort to address the long-standing problems of overcapacity and low industry concentration, the Securites Daily reported Monday, citing a senior ...

KBC-Goldstate sells shares in Chinese commodity firms

KBC-Goldstate Fund Management Co is selling shares in Chinese commodity producers and adding to cash, hunkering down for further declines in the benchmark index after tighter credit policies spurred a drop of 10 percent this year. "Most institutional investors think the market ...

China strengthens efforts to fight melamine-tainted milk products

The Chinese Central Government has sent eight inspection working groups to 16 provincial areas nationwide to prevent the melamine-tainted milk powder, which killed at least six in 2008, from being reclaimed illegally in producing milk products. Leftovers of milk powder contaminat...

Roche diagnostic sales may rise 20% in Asia on China

Roche Holding AG expects sales at its diagnostics unit to climb more than 20 percent in Asia-Pacific markets this year, helped by healthcare spending in China. Aging populations, sedentary lifestyles and economic growth are spurring demand for Roche's machines and tests to ...

China's Vanke posts soaring sales in Jan

BEIJING: China Vanke Co, Ltd, the country's largest property developer by market value, said Friday its revenue from total floor space sold in January surged 185.9 percent year on year. In a statement to the Shenzhen Stock Exchange, Vanke said its sales totaled 6.26 billion yuan ...

John Deere opens new facilities for testing and distribution

The US agricultural and construction machinery manufacturer John Deere opened an agricultural machinery test center in Tianjin Thursday to strengthen its research and development in China. The new machinery test center focuses on product verification and validation. It employs ...

Applied Materials posts senior executive to Beijing

Applied Materials Inc, the world's largest supplier of manufacturing equipment to the semiconductor, display and solar photovoltaic industries, said the company s executive vice-president, Mark Pinto, has relocated to Beijing. Pinto will focus on growing the company's energy and ...
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