PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857) was the most profitable central government-owned enterprise in 2010, with ¥124.18 billion in net earnings, according to the State-Owned Assets Supervision and Administration Commission. China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762) was at the bottom of the list, with ¥4.14 billion in net losses last year.
Yanzhou Coal Mining Co (NYSE: YZC, SHA: 600188, HKG: 1171), China's third biggest coal producer by market value, said its Q3 net profit slid 70% from a year earlier to ¥1.1 billion as expenses surged despite revenues rising 27% year on year to ¥11.85 billion during the period.
China Coal Energy Co (HKG: 1898), the nation's second largest coal producer by revenue, said its Q3 net profit jumped 65.2% from a year earlier to ¥2.66 billion due to increased prices and demand. Revenue was up 40.3% year on year to ¥23.85 billion over the quarter.
Shanghai Modern Pharmaceutical Co (SHA: 600420) said Shanghai Modern Hasen (Shangqiu) Pharmaceutical Co, its subsidiary based in Shangqiu, Henan province, plans to spend ¥277 million building a factory to make essential drugs. The project is expected to take three years to complete.
C.P. Lotus Corp (HKG: 0121), a Thai-funded supermarket chain, said it plans to open 20 to 30 stores in southern China over the next three years. Currently it operates 22 stores in the region.
Tianli Environmental Protection Engineering Co (SHE: 300156), a provider of industrial kiln, furnace and environmental protection system solutions, said it had won a ¥650 million contract that will have a profound impact on its performance in 2012 and 2013. The amount is equivalent 193.7% of its revenue in 2010.
Cofco Tunhe Co (SHA: 600737), a subsidiary of China's largest grains trader, Cofco, announced a plan to issue additional shares to raise ¥4.89 billion to expand its sugar business.
Some state-owned news websites have been given regulatory approval to list in Shanghai, said Shang Fulin, director of the securities regulator, citing policies to back the media industry. Shang did not reveal a timetable for the listings or other details. The People's Daily, Xinhua News Agency and China Central Television are among the websites expected to be listed.
$1 = ¥6.37
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