Qiyi.com, an online video site operated by Baidu.com Inc (NASDAQ: BIDU), said it is exploring charging subscription fees as it has attracted 150 million users in March, said vice president Yuan Bin. Separately, Baidu and Microsoft Corp (NYSE: MSFT) may work together to offer English search results from Microsoft's Bing search engine for English queries on Baidu, according to an industry source. Neither Baidu nor Microsoft was available for comment.
Qihoo 360 Technology Co (NYSE: QIHU), China's most popular free security software developer, plans to offer new services including cloud computing to increase revenue, CEO Zhou Hongyi said. The company is developing a data-storage services that could be accessed via the Internet, Zhou said, without disclosing when they will be introduced. Qihoo 360 will use proceeds from its $202 million IPO in the US in March to acquire companies to boost its technology and expand its product line.
LDK Solar Co (NYSE: LDK), a leading Chinese manufacturer of polycrystalline solar wafers and PV products, said it has signed a module supply contract with a leading Italian-based solar systems integrator. LDK Solar will provide 45MW of solar modules with monthly shipping expected to commence in June 2011.
Gushan Environmental Energy Ltd (NYSE: GU), a leading Chinese biodiesel producer, posted ¥246.9 million in revenues and ¥17.5 million in net losses for Q1 2011. The revenue was up 241.7% year on year and the net loss was compared to ¥62.9 million recorded in Q1 2010.
Canadian Solar Inc (NASDAQ: CSIQ), a China-based solar companies, announced a further expansion of its activities in the UK solar market. Under the agreement, Canadian Solar will supply 15MW of solar modules for three UK solar farms, constructed by Spanish renewable energy project company Isolux. The projects are expected to be completed this June.
$1 = ¥6.49