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June 12 – Yeland Group Co (SHE: 000616), a Beijing-based property developer seeking to diversify its business amid a slowing property market, said its subsidiary agreed to spend $38.4 million buying out Linax Tech Corp from US-based Ralls Corp. Delaware-based Linax Tech owns four 10MW wind farms known as the Butter Creek project that is expected to become operational by the end of this year.
http://www.yicai.com/news/2012/06/1805892.html
June 8 – Pod Inns, a Chinese budget hotel chain, received $55 million from Fidelity Ventures and other four investors in its second round of fundraising. Pod Inns currently operates 200 hotels in 26 cities, including Beijing, Hangzhou, Shanghai, Tianjin, Wuhan and Xian.
http://www.yicai.com/news/2012/06/1795842.html
June 7 – Mindray Medical International Ltd (NYSE: MR), a Chinese medical device manufacturer, said it agreed to acquire a controlling stake in Wuhan Dragonbio Surgical Implant Co for $35.5 million in cash. The transaction is expected to be finalized in July. Founded in 2005 in Wuhan, Hubei's provincial capital, Dragonbio sells orthopedic products in China and posted $7.7 million in revenues last year.
http://finance.yahoo.com/news/mindray-medical-acquire-controlling-stake-220000299.html
June 7 – Hunan Corun New Energy Co (SHA: 600478) said it plans to issue additional shares to raise ¥1.22 billion to buy out Yiyang Hongyuan Rare Earth Co. The target firm, the only rare earth maker in Hunan province that is permitted to export the materials, posted ¥716 million in revenues and ¥276 million in net profits last year.
http://www.yicai.com/news/2012/06/1792403.html
June 6 – Hong Kong-based Royale Furniture Holdings Ltd (HKG: 1198) said it has paid ¥65 million for 65% of smaller rival Shenzhen Bokammer, which posted ¥5.69 million in net profits last year. Royale Furniture expects Bokammer's net profit to climb to ¥20 million in the fiscal year ending May 31, 2013.
http://www.yicai.com/news/2012/06/1789005.html
June 5 – Hanergy Holding Group Ltd, a Chinese privately-owned energy company, purchased Solibro, an insolvent unit of German solar cell maker Q-Cells SE. No financial details were disclosed. Hanergy will help Solibro lift its annual capacity by 10MW to 100MW, and Solibro will sell products to Hanergy's European customers.
http://cn.wsj.com/gb/20120605/BCHc-006064.asp
$1 = ¥6.33
@2011 China Economy @ The China Perspective.
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