Profit at China's major state companies down 30 percent last yearSeptember 20th, 2009 China: Profit at state companies down last yearBEIJING — Profit at China's top state-owned companies fell 30 percent last year, hurt by the global financial crisis, but assets have increased. The 141 banks, airlines, oil producers and other companies controlled by the central government reported net profit of 696.18 billion yuan ($102 billion) last year, down 30.8 percent from the previous year, the official Xinhua News Agency said Sunday.
China Mobile picks Taiwan firm to supply electronic readersAugust 22nd, 2009 TAIPEI - China Mobile Ltd, the world's largest mobile phone carrier, has decided to pick Taiwan's electronics giant Hon Hai Group as its supplier of electronic readers, a top company official said Saturday. "We have picked Hong Hai Group to make electronic readers for us and we believe the electronic reader market will be huge," said Wang Jianzhou, chairman of China Mobile, on the second day of his nine-day visit to Taiwan.
China Mobile says first-half profit up but growth slows amid competition, economic slumpAugust 20th, 2009 China Mobile first-half profit up 1.4 percentBEIJING — China Mobile Ltd., the world's biggest phone company by subscribers, said Thursday its first-half profit rose just 1.4 percent from a year earlier as growth slowed due to competition and an economic slump. Profit for the six months ending June 30 was 55.3 billion yuan ($8.1 billion), the Beijing-based carrier said.
Profit at China's major state companies down 26.2 percent in first half but decline easingJuly 21st, 2009 China says profit at state companies downBEIJING — Profit at China's top state-owned companies fell 26.2 percent in the first half of the year but the decline is easing amid massive government stimulus spending, a state news agency reported Tuesday. The 136 banks, airlines, oil producers and other companies controlled by the central government reported total profit of 316 billion yuan ($46 billion) from January to June, the Xinhua News Agency said, citing the director of Cabinet's State-owned Assets Supervision and Administration Commission.
Air China forecasts 50 percent first-half profit rise, rebounding from 2008 lossJuly 15th, 2009 Air China forecasts 50 percent profit riseBEIJING — Air China Ltd., one of China's three major state-owned carriers, said Wednesday it expects first-half profits to rise at least 50 percent from a year earlier as it recovers from a huge 2008 loss. The Beijing-based airline said its first-half 2008 profit was 1.3 billion yuan under Chinese accounting standards, which would make its profit from January to June this year at least 1.9 billion yuan ($284 million).
India, China growth to cushion deepening recession: World BankJune 22nd, 2009 WASHINGTON - Warning that the world is entering an era of slower growth, the World Bank Monday said that without India and China, the developing countries' output would shrink 1.6 percent. But with the two Asian engines of growth included, developing countries are expected to grow by only 1.2 percent this year, after 8.1 percent growth in 2007 and 5.9 percent growth in 2008.
China Unicom says 1Q profit $525 million following merger with rival China NetcomApril 29th, 2009 China Unicom says 1Q profit $525 millionBEIJING — China Unicom Ltd., one of China's three major state-owned phone companies, said Wednesday it earned 3.6 billion yuan ($525 million) in the first quarter following its merger with rival China Netcom. The profit for the three months ending March 31 was equal to 0.15 yuan per share, the Beijing-based company said.
Bank of China says 1Q net profit falls 14 percent on lower fees and interest incomeApril 28th, 2009 Bank of China's 1Q net profit falls 14 percentSHANGHAI — Bank of China Ltd., the country's third-largest commercial bank by assets, said Tuesday its first-quarter profit fell 14.4 percent as slowing exports and imports cut into its trade finance business. The Beijing-based lender said profit fell to 18.57 billion yuan ($2.7 billion), or 0.07 yuan per share.
China Shenhua Energy says 1Q profit up 17.2 pct, helped by higher prices, stimulus spendingApril 28th, 2009 China Shenhua Energy's 1Q profit up 17.2 percentSHANGHAI — China Shenhua Energy Co., the country's biggest coal producer, said Tuesday its first-quarter profit rose 17.2 percent, supported by higher prices and a revival in demand thanks to the government's economic stimulus spending. Net profit for January-March was 7.94 billion yuan ($1.2 billion), compared with net profit of 6.8 billion yuan in the same period of 2008.
China Eastern Airlines says 1Q net profit down 81 percentApril 28th, 2009 China Eastern Airlines: 1Q net profit down 81 pctSHANGHAI — China Eastern Airlines said Tuesday that its net profit fell 81 percent in the first quarter from the same period a year earlier as passenger traffic fell amid the economic slowdown. The 40.1 million yuan ($5.9 million) net profit in January-March compared with 210.8 million yuan earnings in the first quarter of 2008.
China Southern Airlines says 1Q profit down 71 percent as travel demand weakensApril 28th, 2009 China Southern Airlines 1Q profit down 71 percentBEIJING — China Southern Airlines Ltd., one of China's three major state-owned carriers, said Tuesday its profit fell 71 percent in the first quarter from a year earlier amid a slump in traffic. Profit for the three months ending March 31 was 222 million yuan ($32.4 million) or 0.03 yuan per share, the carrier said.
Japan's Sharp posts 125.8 billion yen annual loss amid economic slumpApril 27th, 2009 Sharp posts 125.8 billion yen annual lossTOKYO — Japanese electronics maker Sharp Corp. said Monday that it suffered an annual net loss of 125.8 billion yen ($1.3 billion) due to declining demand and increasing competition amid a global economic slump.
China's biggest bank, ICBC, says quarterly profit up 6 percent despite fall in interest incomeApril 27th, 2009 Chinese bank ICBC says 1Q profit up 6 percentBEIJING — Industrial & Commercial Bank of China Ltd., the country's biggest commercial lender by assets, said Monday its quarterly profit rose 6 percent from a year earlier despite a double-digit fall in interest income. Profit for the three months ending March 31 was 35.1 billion yuan ($5.1 billion), or 0.11 yuan per share, the Beijing-based lender said.
China Construction Bank says 1Q profit down 18 percent on lower interest; fee income risesApril 25th, 2009 China Construction Bank 1Q profit down 18 percentBEIJING — China Construction Bank Ltd., the country's second-biggest commercial lender by assets, said Saturday its first quarter profit fell 18 percent as interest rate cuts by China's central bank hurt revenues. Profit for the three months ending March 31 was 26.3 billion yuan ($3.8 billion), or 0.11 yuan per share, the Beijing-based lender said.
China Telecom 1Q profit down 27.4 percent as demand for fixed-line service dropsApril 20th, 2009 China Telecom 1Q profit down 27.4 percentBEIJING — China Telecom Ltd. said Monday its first quarter profit plunged 27.4 percent as demand for traditional fixed-line telephone services weakened.
Loading ...