Huaneng Power International Inc (NYSE: HNP, SHA: 600011, HKG: 0902), China's largest listed power producer, said Tuesday it was planning to raised ¥10.38 billion through additional offerings in Shanghai and Hong Kong. The money will be used to build wind power plants and environmentally friendly coal-fired power plants and repay bank loans.
Chindex International Inc (NASDAQ: CHDX), a China-focused healthcare company, has signed an agreement with Shanghai Fosun Pharmaceutical Group Co (SHA: 600196) to establish a joint venture. Shanghai Fosun will invest $20 million for a 51% stake in the new firm, Chindex Medical Ltd.
Sinopec Group, the parent of Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386) said Tuesday its refining capacity for 2010 would be 212 million tons, or 4.26 million barrels a day. The group produced 42.56 million tons of crude oil and 12.3 billion m3 of natural gas this year.
China TransInfo Technology Corp (NASDAQ: CTFO), a leading Chinese provider of comprehensive, intelligent transportation solutions and traffic information services, said Tuesday that its subsidiary, Beijing Zhangcheng Science and Technology Co, has signed a contract with the Beijing Transportation Information Center to develop a commercial operation center to provide dynamic traffic-information services to drivers in Beijing. The contract is valued at $0.9 million and will be classified within the company's traffic information service business.
Sinovac Biotech Ltd (NASDAQ: SVA), a leading Chinese biopharmaceutical maker, said Tuesday that it received approval from the China State Food and Drug Administration to commence clinical trials for its proprietary EV71 vaccine against hand, foot and mouth disease.
Perfect World Co (NASDAQ: PWRD), a leading Chinese online game developer and operator, said Tuesday it has launched unlimited closed beta testing for "Empire of the Immortals," a new MMORPG for the company's "Immortals" franchise.