NetEase to Spin Off Shopping Search Engine
NetEase.com Inc (NASDAQ: NTES), a leading Chinese internet company, plans to separate its shopping search engine domain Gouwu.youdao.com for independent operation, senior vice president Zhou Feng told Reuters during an interview, without revealing details.
Tri-Tech Signs $8m Deal
Tri-Tech Holding Inc (NASDAQ: TRIT), a Chinese provider of solutions for water resource management and wastewater treatment, said its subsidiary, Tri-Tech Infrastructure LLC, won a $8.3 million contract to provide a seawater desalination unit for the Utility Plant of Qatar Petrochemical Co at Mesaieed Industrial City in Doha, Qatar. Tri-Tech Infrastructure, which is based in the US, is expected to deliver the desalination unit by November 2012.
Poly Sales Drop in Nov
Poly Real Estate Group Co (SHA: 600048) said it sold 421,000m2 in floor space valued at ¥4.93 billion in November, down 35.8% and 27.9% year on year respectively. During the first 11 months, it sold 5.98 million m2 valued at ¥67.62 billion, down 4.5% and up 18.3% respectively from the same period a year ago.
Country Garden Sales Down 43% in Nov
Country Garden Holdings Co (HKG: 2007) said it sold just ¥2.5 billion worth of properties in November, down 43% from October.
Tsingtao Brewery to Build New Plant in Hainan
Tsingtao Brewery Co (SHA: 600600, HKG: 0168) said it plans to build a beer brewery with an annual capacity of 400,000 kiloliters in Hainan province as China's second largest brewer by capacity tries to make and sell 10 million kiloliters of beer per year by 2014.
Shougang Steel to Build Mill in Malaysia
Beijing Shougang Co (SHE: 000959), a steelmaker based in the Chinese capital, said it plans to build a plant with an annual capacity of 3 to 3.5 million tons in Malaysia. The project is expected to be the largest Chinese investment in the Southeastern Asian nation.
Netac to Spend ¥229m Building Beihai Industrial Estate
Netac Technology Co (SHE: 300042), a manufacturer of flash memory applications and mobile storage products, said it plans to invest ¥229.1 million building an industrial park in Beihai, Guangxi province. The project is expected to generate ¥313.89 million in revenues and ¥112.73 million in net profits once operational.
Bank of Beijing Plans ¥30b Financial Bonds Issue
Bank of Beijing Co (SHA: 601169) said it plans to issue ¥30 billion worth of financial bonds at the interbank bond market, without stating a purpose.
$1 = ¥6.33