Baotou Rare Earth Forecasts 2011 Profit to Surge 330%
Inner Mongolia Baotou Steel Rare Earth Group Co (SHA: 600111), China's largest rare earth producer, said it expected its net profit to surge 330% in 2011, up from ¥751 million in 2010, due to policies that curbed output and drove up prices.
Hainan Airlines Eyes ¥8b Rights Offer
Hainan Airlines Co (SHA: 600021), China's fourth largest carrier, said it plans to raise ¥8 billion from a private placement plan, using ¥6.1 billion to repay bank loans and the remainder to replenish capital. Its debt/asset ratio stood at around 66% as of the end of 2011.
Maling Aquarius to Build Pig Farm
Shanghai Maling Aquarius Co (SHA: 600073), a leading canned food processor, said its wholly-owned subsidiary, Shanghai Aisen Meat Co, plans to invest ¥92 million building a farm that is expected to produce 50,000 hogs per year.
Fangda Seals ¥216m Deals
China Fangda Group Co (SHE: 000055), a construction material manufacturer, said its interior design unit has signed ¥216 million worth of contracts. The amount is equivalent to 18.6% of its revenue in 2010.
$1 = ¥6.31
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