Yingli Green Energy Holding Co (NYSE: YGE), a leading vertically integrated photovoltaic manufacturers based in Baoding, Hebei province, has received a five-year loan of ¥1.16 billion from the China Citic Bank Corp's (SHA: 601998, HKG: 0998) Shijiazhuang Branch and the Bank of China Ltd's (SHA: 601988, HKG: 3988) Baoding Branch. The money will be used to expand its capacity.
Country Garden Holdings Ltd (HKG: 2007), a property developer, said it sold 940,000m2 in floor space fetching a monthly record ¥5.9 billion in May, up 104% and 164% respectively from a year ago.
Rainbow Department Store Co (SHE: 002419) said its Shenzhen subsidiary paid ¥300.2 million for a 38,000m2 complex in Jiangxi provincial capital Nanchang to operate a department store.
Youngor Group Co (SHA: 600177), a Ningbo, Zhejiang province-based garment maker that is also engaged in property development, has tapped into the agricultural business by paying ¥165 million for a 1.1% stake in chicken producer Sunner Development Co (SHE: 002299). Sunner had ¥173 million in net assets as of March 2011; its net profits surged 75% year on year to ¥45.17 million in Q1 2011.
Poly Real Estate Group Co (SHA: 600048) said it plans to increase the proportion of its commercial real estate assets to 10% of total assets and expects its commercial real estate business to generate ¥2 billion to ¥2.5 billion in annual revenues by 2015.
Anhui Jianghuai Automobile Co (SHA: 600418) sold 234,650 vehicles in January-May 2011, up 11.62% year on year on strong exports that were up 222.6% to 28,018 over the period.
$1 = ¥6.48