Jan Passenger Car Sales up 10%; SUV, MPV Segments Outpace
Chinese passenger-vehicle deliveries hit 2.07 million units in January, up 10% from the on-year month, according to figures from the China Passenger Car Association. Sales of SUVs jumped by 51% year-on-year to 496,800 units last month, while MPV sales jumped 17% to 351,900 units. In comparison, sedan sales were up just 2% to 1.24 million units.
Over recent years, SUVs have been steadily gaining traction in China, where many local drivers gravitate toward roomier vehicles. Last month, SUVs accounted for 24% of all passenger-vehicle sales, up from roughly 7% in January 2010.
NetEase Reports Q4 Surge in Revenue, Operating Expenses
Portal operator and online gaming giant NetEase reported 3.46 billion yuan in net revenue during the fourth quarter, up 43% year-on-year. Specifically, revenue from online gaming hit 2.86 billion yuan, up 35.7% year-on-year. Earnings from advertising services totaled 439.5 million yuan, up 22.6%.
Meanwhile, operating expenses nearly doubled to 1.24 billion yuan thanks to staff increases and rising advertising costs.
China Real Estate Data: First-Tier Sales Volumes for Week of Feb 8
With the Chinese New Year approaching, home sales in top urban markets hit the skids last week. Primary market property sales in Beijing totaled 939 units during the week ending February 8, 2015, down 29% week-on-week, according to figures from industry portal Soufun. Over the same period, sales in Shanghai dropped to 3,184 units, down 37% week-on-week. Sales in Guangzhou equaled 1,332 units, down 18% week-on-week. Shenzhen sales totaled 1,209 units, down 30% week-on-week. Sales in Tianjin eased to 1,085 units, down 32% week-on-week.
The timing of last year's Chinese New Year holiday led to heavily distorted annualized results. During the week ending February 8, sales in Beijing and Shenzhen, for instance, were up 769% and 17,171% year-on-year respectively.
Longyuan Jan Power Output up 13.5% y-o-y
China Longyuan Power, the country's largest wind-farm operator, generated 2.45 MW of wind power in January, up 13.5% year-on-year, according to company data. This represents a slowdown from December, when power output was up 35%. Meanwhile, utilization during January totaled 181 hours, even with the on-year period but up 18.3% month-on-month. By the end of December 2013, Longyuan had 14,073 MW of total installed power capacity, including 11,910 MW of wind capacity.
Late-Jan Crude Steel Output Down 0.4%, Trader Inventories Edge Higher
According to data from the China Iron and Steel Association (CISA), crude steel output among large- and medium-sized mills (i.e. CISA members) equaled 1.69 million tons per day in late-January, down 0.4% from mid-month. With CISA-member mills accounting for nearly three-quarters of Chinese steel production, analysts estimate that nationwide output reached 74 million tons for the month of January, up 13.2% year-on-year thanks to the timing of last year's Chinese New Year holiday.
Meanwhile, steel inventories among CISA-member traders reached 10.7 million tons in late-January, up 2.2% from mid-month. Producer stocks remained flat at 14.8 million tons.
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