NetEase to Spend ¥100m on Game Ads
NetEase.com Inc (NASDAQ: NTES), a Chinese Internet technology company, will spend close to ¥100 million advertising its self-developed 3D online game Tx3, its online gaming division marketing boss Fan Cunyan told Yicai.com. The company, which has invested more than ¥200 million developing four 3D online games since 2003, controlled over half of China's 3D online game market in 1H 2011, according to NetEase CEO Ding Lei. Online gaming accounted for as much as 89% of NetEase's ¥1.8 billion revenue in Q2 2011.
Eastern Airlines Q3 Profit Up 5%
China Eastern Airlines Corp (NYSE: CEA, SHA: 600115, HKG: 0670), the nation's second largest carrier by passenger traffic, posted ¥24.45 billion in revenues and ¥3.31 billion in net profits for Q3 2011, up 12% and 4.9% year on year respectively. Its debt ratio declined to 79.4% as of the end of September, shedding 4.2 percentage points from the beginning of the year.
Changyou Posted $53m in Q3 Profit
Changyou.com Ltd (NASDAQ: CYOU), a leading Chinese online game developer and operator, posted $119 million in revenues and $52.8 million in net profits for Q3 2011, up 39% and 17% year on year respectively.
Shanghai Pharma Posted Moderate Q3 Growths
Shanghai Pharmaceuticals Holding Co (SHA: 601607, HKG: 2607), China's second biggest drug distributor, posted ¥6.72 billion in revenues and ¥1.71 billion in net profits for Q1-Q3 2011, up 5.4% and 2.6% respectively from the same period a year earlier.
Poly Q1-Q3 Profit up 51%
Poly Real Estate Group Co (SHA: 600048), a leading property developer, posted ¥21.81 billion in revenues and ¥3.47 billion in net profits for Q1-Q3 2011, up 26.2% and 51.3% respectively from the same period a year earlier. It sold 4.99 million m2 in floor space and built 2.27 million m2 between January and September, up 3.4% and 33.1% year on year respectively.
Changan Auto Eyes European Market
Chongqing Changan Automobile Co (SHE: 000625) will start selling its Eado sedan in Europe soon, general manger Zhang Baolin said, without giving a timetable. The car maker posted a ¥142.45 million loss for Q3 2011 amid China's stalled auto market.
FAW Cuts Earnings Prospect
FAW Car Co (SHE: 000800), the listed arm of China's third largest automaker by output, FAW Group Co, expects this year's net profit to plunge 50% to 80% to between ¥372 million and ¥930 million amid a slowed Chinese auto market. It posted a ¥49.9 million loss in Q3 2011, compared to a net profit of ¥449.2 million a year earlier.
$1 = ¥6.33