CNOOC Ltd (NYSE: CEO, HKG: 0883), China's biggest offshore oil producer, sold a 25% stake in a license to explore for hydrocarbon in Qatar to France's Total SA as the Chinese company seeks to reduce risk. CNOOC, which secured rights to the offshore concession two years ago, will retain a 75% stake and operate the area called Block BC, according to an email statement.
Parkson Retail Group Co (HKG: 3368) posted ¥4.57 billion in revenues and ¥328.4 million in net profits for Q1 2011, up 19.6% and 21.6% respectively from a year earlier.
Anyang Iron & Steel Inc (SHA: 600569), Henan province's biggest steelmaker, has acquired three private steel mills in the province that had a combined five million tons in capacity and a combined ¥166 million in profits last year. Anyang Iron & Steel Inc has an existing capacity of 13 million tons of crude steel.
China State Construction Engineering Corp (SHA: 601668) said it had recently secured ¥20.89 billion worth of contracts, which represented 5.6% of its revenues in 2010. 26% of the new projects are will take place overseas.
$1 = ¥6.48