Sina Corp (NASDAQ: SINA) has paid $40 million for a 4% in Tudou Holdings Ltd, the operator of China' second biggest video site Tudou.com that listed on the NASDAQ last week, a person close to Tudou told Yicai.com.
China Telecom Corp (NYSE: CHA, HKG: 0728) said it plans to invest ¥26 billion stepping up wireless Internet coverage in Anhui province in the next four years.
Yanzhou Coal Mining Co's (NYSE: YZC, SHA: 600188, HKG: 1171) 1H net profit surged 91.2% year on year to ¥5.03 billion as coal price increased. The company's coal output was up 12.4% to 25.73 million tons during the period.
China Construction Bank Corp (SHA: 601939, HKG: 0939), the nation's largest mortgage lender, said its 1H net earnings rose 31.3% year on year to ¥92.95 billion on increased loan demand. Its capital adequacy ratio declined 0.17 percentage points to 12.51% by June 30, 2011 from six months earlier.
China CAMC Engineering Co (SHE: 002051), an engineering construction contractor, said it signed two contracts involving the construction of two airports in Laos worth a combined ¥758.35 million. The amount was equivalent to 15% of its revenue in 2010.
Gemdale Corp (SHA: 600383), a property developer, posted ¥5.16 billion in revenues and ¥478 million in net profits for 1H 2011, down 41% and 61.1% year on year respectively. The company sold 810,000m2 in floor space during the period, up 67.8% from a year earlier.
Shanghai Electric Group Co (SHA: 601727, HKG: 2727) posted ¥33.72 billion in revenues and ¥1.64 billion in net profits for 1H 2011, up 10.7% and 15.3% year on year respectively.
Citic Securities Co (SHA: 600030) posted ¥7.51 billion in revenues and ¥2.97 billion in net profits for 1H 2011, down 5% and up 13.1% respectively. Its net profits accounted for 11.4% of the industry's total net profits.
$1 = ¥6.4