Zhongjin Gold Corp (SHA: 600489) said its subsidiary in Yantai, Shandong province plans to spend ¥337 million stepping up production at a local mine after it discovered 11,165 more kg of gold there. After the expansion, the mine is expected to roll out 1,235.45kg of gold valued at ¥294 million per year.
Huadian Power International Corp (SHA: 600027, HKGL 1071) has been approved to build two wind farms. One in Shandong province with a capacity of 48MW is estimated to cost ¥460 million, and the one in Ningxia province with a capacity of 99MW to cost ¥960 million.
Kweichow Moutai Co (SHA: 600519), the distiller of China's most renowned Guizhou Maotai white liquor, plans to boost its revenue to ¥40 billion by 2015 from last year's ¥26 billion.
China Huiyuan Juice Group Ltd (HKG: 1886) cut the prices of some of its products by up to 30% in preparation for the upcoming price wars expected this the summer.
China Resources Cement Holdings Ltd (HKG: 1313) said it plans to spend ¥280 million acquiring three assembly lines in Shanxi province. The three lines with a combined capacity of 3.47 millions will double its production in the province.
China Rongsheng Heavy Industries Group Holdings Ltd (HKG: 1101) may deliver as few as two very large iron ore carriers this year, six fewer than planned, because of delays in building the vessels that cost about $140 million each. The shipbuilder will hand over two or three of the 400,000 deadweight ton vessel to Brazilian mining giant Vale SA in September or October, said Rongsheng CEO Chen Qiang. Rongsheng also intends to win its first order for a 10,000-ton container vessel this year as it works to pare its reliance on commodity ships, added Chen.
$1 = ¥6.49