Business / Corporate Reports

Chow film's revenue hit 990 million yuan

[2013-02-26 14:38]

Shares in Huayi Brothers Media Group rallied after it announced that the film Journey to the West: Conquering the Demons had generated $158.7 million in box office revenue.

Sinopec agrees 50 percent Chesapeake stake

[2013-02-26 11:01]

China Petroleum and Chemical Corp, or Sinopec, has agreed to buy 50 percent of the US-based Chesapeake Energy Corp's Mississippi Lime oil and gas assets for $1.02 billion.

Pirelli to pump $200m into Chinese plant

[2013-02-26 10:37]

Pirelli & C SpA, the Italian tire giant, is planning a $200 million investment to make China its largest global manufacturing center by 2014.

51buy.com targets sales of 15-20b yuan this year

[2013-02-25 21:34]

Shopping website 51buy.com, which is largely owned by Internet conglomerate Tencent Holdings Ltd, aims to register a total transaction volume of 15 to 20 billion yuan this year.

Amway says China sales increase to 27.1b yuan

[2013-02-21 16:40]

Amway Company, the largest multinational direct-selling company by sales and network coverage, said on Wednesday that sales in China reached 27.1 billion yuan in 2012.

Sina Weibo boasts 500m users

[2013-02-21 14:15]

Sina Weibo, the Chinese equivalent of Twitter, had attracted over 500 million users by the end of 2012, a year-on-year increase of 74 percent.

Ferrari reported best results ever in 2012

[2013-02-20 17:03]

Italian automaker Ferrari released record figures for its business performance for 2012 despite the global economic turmoil.

Sichuan mining firm flies off with 75% aviation stake

[2013-02-20 10:01]

Leshan Heima Mining Co, a privately owned mining company in Sichuan province, has spent 15 million euros on a 75 percent stake in Lisa Airplanes, a French aircraft builder.

Hong Kong Disneyland reports first profit

[2013-02-19 11:03]

Hong Kong Disneyland announced Monday that it earned a profit of $14.06 million in the fiscal year ending Sept 29, 2012.

Jingdong Mall raises $700m

[2013-02-18 17:22]

Chinese online retailer Jingdong Mall said its cash reserve topped 15 billion yuan ($2.4 billion) after the Beijing-based company raised around $700 million from international investors on Sunday.

GM buys back 1% stake in joint venture

[2013-02-18 17:13]

General Motors Co, which runs 12 joint ventures in China, said it had repurchased a 1 percent stake in its joint venture with SAIC Motor Corp Ltd.

361 closes 96 stores in fourth quarter

[2013-02-07 14:41]

361 Degrees International Ltd closed 96 retail branches during the fourth quarter of last year, as conditions in the retail sector toughened.

Sinopec's online sales reach 40m yuan

[2013-02-05 14:21]

Oil giant China Petrochemical Corp, known as Sinopec, said sales of its online platform, ejoy365.com, reached 40 million yuan ($6.42 million) at the end of January.

Ito-Yokado to invest 200m yuan in stores

[2013-02-05 12:06]

Japanese retailer Ito-Yokado Co Ltd said on Monday that it will invest 200 million yuan ($32 million) in China this year for expansion.

Price war cuts Ctrip.com's income by 39%

[2013-02-02 02:31]

Income at Ctrip.com International Ltd, the largest Chinese online travel agency by market share, continued to fall in 2012.

Toyota recalls 22,869 cars over faulty wipers

[2013-02-01 09:49]

Japanese automaker Toyota will recall 22,869 vehicles exported to China over defects in the vehicles' windshield wipers.

Canon's 2012 China sales fall more than 30%

[2013-01-31 11:16]

Canon Inc said on Wednesday its sales in China fell more than 30 percent in the year to December 2012, more than it expected.

US approves Wanxiang's $257m purchase of A123

[2013-01-31 10:40]

A US government panel has approved the purchase by China's biggest auto parts maker, Wanxiang Group, of nearly all the assets of A123 Systems Inc.

Brilliance Auto targets 14.6% growth in sales

[2013-01-30 20:45]

Brilliance Auto Group aims to sell 770,000 vehicles this year, which would represent a year-on-year growth of 14.6 percent, according to a company report.

New Oriental Education posts $26.9m Q2 loss

[2013-01-30 16:47]

New Oriental Education & Technology Group Inc posted on Tuesday a second-quarter loss of $26.9 million, compared to a $3.2 million loss in the same period.

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