Baidu Said to Launch ¥3,000 Phone with Dell
Baidu.com Inc (NASDAQ: BIDU), China's most used search engine, will launch a smartphone co-developed with Dell Inc (NASDAQ: DELL) on December 20, a person familiar with the matter said. The handset powered by Baidu's Yi platform for mobile terminals will have a price tag of ¥3,000, according to the source. Baidu and Dell will work on other products backed by Yi platform, such as tablet computer.
Youku Ordered to Compensate for Copyright Issue
Youku.com Inc (NYSE: YOKU), a leading Chinese online video site, has been found guilty of infringement on intellectual property by a Chinese court. Youku was ruled to pay ¥190,000 to Huayi Brothers Media Corp (SHE: 300027) for broadcasting one of its movies without a license. This is the most severe penalty yet handed down to a Chinese video site for copyright issues.
Southern Airlines Passenger Traffic Up 12% in Nov
China Southern Airlines Ltd (NYSE: ZNH, SHA: 600029, HKG: 1055) said its passenger traffic totaled 654,000 people and cargo traffic totaled 101,580 tons in November, up 12% and 3.4% year on year respectively. Between January and November, its passenger traffic totaled 74.35 million people and cargo traffic totaled 1.03 million tons, up 5.4% and 1.4% respectively from the same period a year ago.
Air China Passenger Traffic Up 6.5% in Nov
Air China Ltd (SHA: 601111, HKG: 0753) said its passenger traffic totaled 387,030 people and cargo traffic totaled 98,850 tons in November, up 6.5% and down 6.3% year on year respectively. Between January and November, its passenger traffic totaled 45.08 million people and cargo traffic totaled 1.05 million tons, up 5.5% and 1.1% respectively from the same period a year ago.
China Pacific Insurance Premiums Near ¥144b Through Nov
China Pacific Insurance Group Co (SHA: 601601, HKG: 2601) posted ¥143.8 billion in premium incomes in the first 11 months, without offering historic figures for comparison.
China Coal Energy Sales Up 12% Through Nov
China Coal Energy Co (HKG: 1898), the nation's second largest coal producer by revenue, said it produced 8.32 million tons of coal and sold 10.09 million tons in November, up 13.8% and down 10.2% year on year respectively. Between January and November, it produced 94.14 million tons and sold 120.99 million tons, up 8.7% and 11.5% respectively from the same period a year ago.
Xinxing Ductile to Expand Indian Mill
Xinxing Ductile Iron Pipes Co (SHE: 000778) said it plans to invest ¥9 billion expanding the annual capacity of its Indian steel mill to three million tons in the next three years.
Hainan Haiyao Earnings to Rocket on Property Investment
Hainan Haiyao Co (SHE: 000566), a drug maker, expects this year's net profit to surge by between 416% and 485%, or between ¥173 and ¥196 million, as its real estate division reaped a ¥73 million return from investments.
$1 = ¥6.37