Baidu.com Inc (NASDAQ: BIDU) plans to run a pilot program of fee-charging mobile search services, said Yue Guofeng, general manager of the mobile Internet division of China's most popular search engine. Yue said mobile Internet is a better platform for search advertising as the user has both the ad carrier and the communications device to respond to an ad.
Aluminum Corporation of China (NYSE: ACH, SHA: 601600, HKG: 2600) said it was considering buying assets associated with raw aluminum businesses from its parent to address in-house competition.
Jiangxi Wannianqing Cement Co (SHE: 000789) expected to posted ¥270 million to ¥300 million in net profits for 1H 2011, turning around from ¥28.9 million in the red a year earlier, as its business was bolstered by local public housing projects.
Sichuan Shuangma Cement Co (SHA: 000935) announced a private placement plan to issue 250 million shares at ¥11.25 apiece for the purchases of a 25% stake in Lafarge China's Dujiangyan subsidiary, a 75% stake in Guizhou Dingxiao Cement and a 75% stake in Guizhou Xinpu Cement from Sommerset Investments, and a 100% stake in Zunyi Sancha Cement from Lafarge China. After the additional offering, Lafarge China's ownership in Sichuan Shuangma will be diluted to 55.19%.
China Gezhouba Co (SHA: 600068), a construction contractor, signed ¥50.32 billion worth of contracts in 1H 2011, including ¥16.2 billion of overseas projects. The total amount represents 71.9% of its annual target.
Yonghui Superstores Co (SHA: 601933), a Fuzhou, Fujian province-based supermarket chain, said it plans to invest ¥10 million in Shijiazhuang, Hebei province and Shenyang, Liaoning province each to do business there.
$1 = ¥6.47