Southern Airlines Passenger Traffic Up 7% in May
China Southern Airlines Ltd (NYSE: ZNH, HKG: 1055, SHA: 600029), the nation's biggest carrier by passenger traffic, said its passenger traffic rose 7.1% year on year to 7.37 million people and its cargo traffic fell 2.3% year on year to 102,000 tons in May. Between January and May, its passenger traffic was up 5.7% year on year to 36.38 million people and its cargo traffic was up 3.3% year on year to 494,000 tons.
Suning Online Sales Surge 500% During Festival
Suning Commerce Group Co (SHE: 002024), China's largest consumer electronics retailer by revenue, saw orders placed from mobile devices shot up 500% during the past Dragon Boat Festival compared with a year earlier, according to Li Bin, vice president of Suning.com, the company's online platform.
Shenhua Energy Coal Exports Jump on Low Domestic Prices
China Shenhua Energy Co (HKG: 1088, SHA: 601088), the nation's biggest coal producer, said its coal output totaled 26.7 million tons in May, up 5.5% month on month and down 0.4% year on year. Its daily output rose 2.1% from a month earlier to 861,000 tons. Coal exports were up 33% year on year to 400,000 tons in May, far more than in the previous months probably due to competitive domestic pricing. Shenhua's power generation rose 3.2% month on month and declined 3.1% year on year in May.
China Coal Energy Output Rebounds, Sales Hit 5-Month Low
China Coal Energy Co (SHA: 601898, HKG: 1898), the nation's second largest coal producer by revenue, said its coal output totaled 10.25 million tons in May, up 6.9% month on month and up 13.3% year on year. Its daily output rose 3.4% from a month earlier to 331,000 tons. Coal sales were 12.3 million tons in May, down 4.3% month on month and up 1.1% year on year, with the daily sales volume down 7.4% month on month and up 1.1% year on year to 397,400 tons, the lowest this year due to increased use of hydropower during the season.
Geely Auto Sales Up 27% in May
Geely Automobile Holdings Ltd (HKG: 0175), China's largest privately-owned carmaker, said its sales volume rose 27% year on year to 41,543 units in May, and sales volume in January-May rose 22% year on year to 228,920 units, achieving 41% of the full year target. Its exports remained strong at 9,110 units in May, up 39% year on year.
Citic Capital Raises $683 Million Fund for Property Development
Chinese asset management firm Citic Capital has raised a $683 million fund focused on retail property development in China. Citic Capital has invested a total of $250 million in 3 projects, and the new fund will invest in another 4 to 5 projects in tier-2 cities where the retail infrastructure still has much room to grow. Founded in 2002, Citic Capital manages more than $4 billion of capital from international institutional investors.
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