Apple Botches Up iPhone 4S China Debut
Apple Inc (NASDAQ: APPL) halted debut sales of its iPhone 4S in Beijing and Shanghai after chaos broke out at one of the company's Beijing stores after customers waiting in line overnight were told that all 4S handsets had been sold out. Apple said sales were much quicker than expected and it made the decision in order to maintain public order.
Sinopec's Ethylene Output Tops 10m Tons
Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386) said its ethylene production has for the first time cracked the 10 million ton mark to total 10.04 million tons in 2011, up 9.2% from the year before. It has become the world's fourth biggest producer of the chemical.
Hainan Airlines Revenue Jump 35% in 2011
HNA Group, China's fourth largest carrier and the parent of Hainan Airlines Co (SHA: 600221), said its revenue rose 35% to ¥64.7 billion in 2011 and it had ¥201.46 billion in assets, including a 350-aircraft fleet, as of the end of 2011. Hainan Airlines' passenger traffic amounted to 38.8 million people during the past year.
Datang Power Generation Rises 14% in 2011
Datang International Power Generation Co (SHA: 601991, HKG: 0991), one of the big five electricity producers in China, said it generated 203.72 billion kW hours of power in 2011, up 14% from the year before.
Jiangxi Copper Output Exceeds 1m Tons
Jiangxi Copper Corp, China's biggest copper producer and the parent of Jiangxi Copper Co (SHA: 600362, HKG: 0358), said its output reached 1.05 million tons and revenue totaled ¥134.5 billion in 2011.
Zhongjin Gold's Parent Increases Stake
Zhongjin Gold Corp (SHA: 600489) said its parent group has increased its holdings by 0.2 of a percentage point to 49.6% after buying four million shares on the Shanghai Stock Exchange.
Yuexiu Property Sales Volume Up 12% in 2011
Yuexiu Property Co (HKG: 0123), a Guangzhou-based developer, said it sold 608,400m2 in floor space valued at ¥9.05 billion in 2011, up 12% and 2.2% respectively from the year before.
$1 = ¥6.32