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Air China reports Q1 net profit up 121.33%

HONG KONG - China's largest carrier Air China said Friday its net profits in the first quarter of 2010 surged 121.33 percent to 2.17 billion yuan ($317.89 million), compared with that in the same period in 2009. Special Coverage:2009 Annual Reports of Listed Companies)

Guangshen Railway Company 2009 net profit rises 12%

BEIJING - Guangshen Railway Company Ltd, one of China's major railway operators, said Thursday its 2009 net profit rose 12.01 percent year on year.Net profits hit 1.36 billion yuan ($198.68 million) last year on revenue of 12.39 billion yuan, which was up 5.96 percent from 2008, ...

China Coal profit rises 9.9% as economy grows

China Coal Energy Co, a unit of the nation's second-biggest producer of the fuel, said 2009 profit rose 9.9 percent as expansion in the world's fastest-growing major economy buoyed demand. Net income increased to 7.83 billion yuan ($1.1 billion), or 0.59 yuan per share, from 7.13 ...

Auto parts makers line up for slice of electric vehicle market

BEIJING - As a promising future market for environmentally friendly vehicles, China has become the battlefield for international automobile parts manufacturers to wrestle for market share in the electric vehicle sector. "The car of the future will be the electric vehicle - there ...

CRMC may seek to raise 10b yuan from IPO

SHANGHAI - China Railway Materials Commercial Corp (CRMC), a State-owned infrastructure developer and steel trader, may seek to raise about 10 billion yuan ($1.5 billion) in an initial share offering next year. The company may seek a listing in Hong Kong and Shanghai, as part of ...

Gome re-installs ousted Bain directors

HONG KONG - The board of directors at China electronics retailer Gome said it had re-appointed three members of Bain Capital to the board after shareholders said to be affiliated with the company's founder voted against their re-election. US private equity firm Bain Capital ...

Zijin says China, Congo will probably approve deal

Zijin Mining Group Co said the governments of the Democratic Republic of Congo and China will probably approve its joint $284 million bid to buy copper mine developer Platmin Congo once a "misunderstanding" is resolved. Approval from the Chinese government may come next month, ...

China Mobile taking steps to speed up local listing

China Mobile Ltd, the world's biggest phone carrier by market value, is taking steps to speed up the listing of its shares in the domestic market, Chairman Wang Jianzhou said. China Mobile has made recommendations to regulators about the listing, Wang told reporters today at the ...

China Mobile wins approval for Taiwan subsidiary

China Mobile, the mainland's biggest mobile network operator, has won approval to set up a subsidiary in Taiwan, the PCWorld reported on Tuesday. But China Mobile will not be able to use the subsidiary to invest in Taiwan's telecommunications sector yet, as authorities there ...

Bombardier expects smaller aircraft sales to take flight

BEIJING - Civil aircraft maker Bombardier Inc on Tuesday said it expects bulk of the new orders for its new regional aircraft to come from China as demand for smaller passenger jets is fast growing in the nation. The Canadian company said its new 100- to 150-seat aircraft, the ...

Melco likely to cap 8-year bond yields at 10.5 percent

HONG KONG - Casino operator Melco Crown Entertainment has indicated pricing terms for a $600 million bond sale, a source said on Tuesday, the first sign of confidence that regional credit markets are overcoming jitters about the debt crisis in Europe. Fears that Greece's ...

Operations begin at Sinopec petrochem plant in Tianjin

JV with Saudi Basic Industries Corp seeks to tap fuel oil demand TIANJIN - Sinopec, China's largest refiner, officially put into operation a 34-billion-yuan ($4.98 billion) petrochemical complex in Tianjin on Tuesday, a move designed to tap growing demand for fuel oil and ...

Sinopec building oil reserve in Tianjin

TIANJIN - Sinopec, China's second-largest oil company, has begun construction of a commercial crude oil reserve base with a storage capacity of 3.2 million cubic meters in north China. With an investment of 3 billion yuan (US$439 million), the base would cover 68 hectares in the ...

Saudi Basic starts commercial production at China chemical plant

Saudi Basic Industries Corp, the world's biggest chemicals maker by market value, said it started commercial production at a chemical plant in Tianjin. The facility, a joint venture between Saudi Basic and China Petroleum & Chemical Corp, has a production capacity of 3 million ...

Soho China says to buy properties

Soho China Ltd, the biggest developer in Beijing's central business district, may buy land and properties as government measures to cool the market could lead prices lower and developers to sell uncompleted projects. Chinese home prices may fall by as much as 20 percent and back ...

Sands China Q1 net profit rises 315%

HONG KONG: Sands China, the world's second-most valuable casino operator by market value, posted first-quarter earnings that quadrupled from a year ago, thanks to more gamblers at its Macao casinos and cost controls. Sands China, whose rivals include Wynn Macau and Melco Crown ...

Miners see light at end of 'super tax' tunnel

BEIJING: China's largest iron ore trader Sinosteel and China's fourth-largest steelmaker Anshan Iron and Steel Corp said they are willing to continue to invest in Australia, although that nation's "super tax" will definitely affect the companies' earnings. "We are reviewing how ...

FIFA requests Pepsi to stop infringement of World Cup sponsors' rights

BEIJING - FIFA has warned Pepsi Company not to continue infringeing the commercial rights of lawful sponsors by using misleading advertisement before the 2010 World Cup. Pepsi set a question "How many international football players are signed up by Pepsi to sponsor World Cup" on ...

Poly Real Estate's sales up 16% in first four months

BEIJING: The Poly Real Estate Group, China's second largest property developer by market value, said Sunday its contracted sales volume in January-to-April period totaled 12.22 billion yuan ($1.79 billion), up 16.21 percent year-on-year. The increase was generated on the back of ...

Mainland's Haier start JV with Taiwan firm

QINGDAO: The Haier Group, the largest white goods producer on the Chinese mainland, plans to set up a joint venture with Taiwan's AU Optronics Corporation (AUO), a leading LCD panel maker, to manufacture LCD TV modules. Haier will hold 70 percent stake in the $7 million venture, ...
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