China Corporate News: Ku6 Partners with YouTube; Sina, Shanda Said to Release Android Phone

Ku6 Partners with YouTube
Ku6 Media Co (NASDAQ: KUTV), a Chinese video site operator, said it has reached an agreement with YouTube to explore the global market. Ku6's international users will be able to watch Chinese user-generated content on its channel attached to YouTube. Ku6 will form a new team to handle this business.

Sina Said to Release Android Phone
Sina Corp (NASDAQ: SINA) is considering launching a smartphone backed by Google Inc's (NASDAQ: GOOG) Android system that will integrate its popular Weibo microblog service this year, according to a well-informed source. A team of ten has been assigned to the project and could grow to hundreds if it is approved by Sina's board, the source said.

Shanda Said to Release Android Phone
Shanda Interactive Entertainment Ltd (NASDAQ: SNDA), a Chinese online media and game operator, plans to launch a self-branded cellphone by mid year, according to a chip manufacturer. Shanda's Android-backed handset will have special features for games and literature developed by the company.

China Life Insurance Premiums Slightly Up in 2011
China Life Insurance Co (NYSE: LFC, SHA: 601628, HKG: 2628), the nation's biggest insurer by premium, said its premium incomes totaled ¥318.3 billion in 2011, slightly up from ¥318.2 billion in the year before.

New China Life Insurance Premiums Top ¥95b
New China Life Insurance Co (SHA: 601336 HKG: 1336) said its premium incomes totaled ¥94.8 billion in 2011, without giving historic figures. This was the first time the insurer reported financial statements after it went public in December.

China Oilfield Services Sets Capex Range for 2012
China Oilfield Services Ltd (HKG: 2883) said its capital expenditure will be between ¥4 billion and ¥5 billion in 2012, largely unchanged from the year before.

Changan Auto to Issue ¥2b Bonds
Chongqing Changan Automobile Co (SHE: 000625) said it plans to issue ¥2 billion in corporate bonds to replenish capital.

Citic Bank Plans ¥20b Subordinated Bonds
China Citic Bank Corp (SHA: 601998, HKG: 0998) said its board approved a plan to issue ¥20 billion worth of subordinated bonds to boost its capital adequacy ratio.

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