China Telecom Corp Ltd (NYSE: CHA, HKG: 0728) posted ¥58.67 billion in revenues and ¥4.62 billion in net profits for Q1 2011, up 11.3% and 8.1% respectively from a year earlier. It was serving 100.25 million cellphone users including 16.37 million 3G service users by the end of March.
China Eastern Airlines Corp's (NYSE: CEA, SHA: 600115, HKG: 0670) Q1 net profit grew 31.5% year on year to ¥1 billion, driving its earnings per share up 25% to ¥0.0898.
Trina Solar Ltd (NYSE: TSL), a leading solar photovoltaic manufacturer, announced the signing of a three-year research agreement with the Australian National University that is expected to receive more than A$3 million funding from the Australian Solar Institute funded by the Australian government's Clean Energy Initiative.
China BAK Battery Inc. (NASDAQ: CBAK), a leading lithium battery maker, posted $46.7 million in net revenues, compared to $50.4 million a year earlier, and $4.1 million in losses, compared to $2.5 million a year earlier, for Q1 2011 due to the decline in selling prices amid a more competitive market.
ReneSola Ltd (NYSE: SOL), a leading Chinese manufacturer of solar products, posted $328.2 million in net revenues and $43.3 million in net income for Q1 2011, up 58.9% and 266.9% respectively from Q1 2010.
VisionChina Media Inc (NASDAQ: VISN), one of China's largest digital TV advertiser on transit systems, said it has renewed its exclusive contracts to operate in Guangzhou’s subway network for the next five years and on Shenyang buses for the next three years. It also signed a contract to add three new subway lines to its existing subway network in Shenzhen for the next five years.
$1 = ¥6.51