Gome Electrical Appliances Holding Ltd (HKG: 0493), China's second largest chain store by revenue, posted ¥13.68 billion in revenues and ¥552 million in net profits for Q1 2011, up 16.1% and 65.8% respectively from a year earlier. It opened 37 new stores and closed seven stores over the period, bringing the total number to 856 by March 31, 2011.
Lenovo Group Ltd (HKG: 0992) posted $21.59 billion in revenues and $273 million in net profits for the fiscal year ended March 31, 2011, up 30% and 112% respectively from a year earlier.
CSR Corp (SHA: 601766, HKG: 1766), a leading Chinese rail transport equipment manufacturer, won a ¥1.5 billion contract to make trains for the subway network in Yunnan provincial capital Kunming.
HBMC (SHE: 300027), a Chinese movie maker, said it will work with the Suzhou government to build its first theme park in the city. HBMC will be responsible for 35% of the ¥3 billion project that is expected to open by 2015.
Poly Real Estate Group Co (SHA: 600048) will start the global sale in June of its first seaside resort that will cost ¥6 billion to build in Yangjiang, Guangdong province.
Sinoma International Engineering Co (SHA: 600970), a leading Chinese cement maker with global ambition, won two construction contracts with Malaysian companies valued at a combined $200 million.
TEBA Co (SHA: 600089), a Chinese manufacturer and distributor of electric power transmission and transformer equipment, has been approved by the National Development and Reform Commission for a ¥15.52 billion photovoltaic project in Xinjiang.
$1 = ¥6.49