June 19 – Jiapin.com, a Chinese online retailer of name brand fashion goods, said it has received a total of $15 million in venture capital funding from Macy's Inc (NYSE: M) and Intel Capital. Founded in November 2009, Jiapin received tens of millions of dollars in its first three rounds of fundraising.
June 18 – Jiangsu Lianyungang Port Co (SHA: 601008) said it agreed to purchase 25% of Lianyungang Xinlian Bulk Cargo Co for ¥149 million from Sino-Rock Investment Management (Hong Kong) Co. Lianyungang Port said the deal will help it with bulk cargo operations and port equipment repair.
June 14 – Baidu Inc (Nasdaq: BIDU), which processes about 80% of China's web searches, plans to take over mobile browser developer UC Mobile's UCWeb browser to increase its mobile Internet traffic, a well-informed source said. Baidu currently has a zero position in China's mobile browser market.
June 14 – Sinochem International Corp (SHA: 600500) said its Singaporean subsidiary plans to pay ¥2.82 billion for a 61% stake in Jiangsu Sinorgchem Technology Co. The target company, which makes rubber reagents and chemical medicines, posted ¥2.33 billion in revenues and ¥437 million in net profits for 2011.
June 14 – Titan Wind Energy (Suzhou) Co (SHE: 002531) said its Singaporean subsidiary plans to spend $19 million acquiring a wind tower plant in Varde, Denmark from Vestas, the world's largest turbine maker. The Danish wind tower plant, the only one of its kind owned by Vestas in Europe, is capable of producing 405 sets of large wind towers annually.
June 14 – Zhejiang Hisoar Pharmaceutical Co said it has spent ¥120 million taking a 70% stake in Suzhou No 4 Pharmaceutical Factory. The Suzhou factory, which makes preparations and ferments, posted ¥55.72 million in revenues and ¥7.19 million in net profits for the first five months of this year.
June 13 – A Chinese-Japanese investment group agreed to buy Saab Automobile and convert the bankrupt Swedish manufacturer into a maker of electric cars, Bloomberg reported. The first vehicle under the plan will be based on Saab's 9-3 car and will go on sale early in 2014, the parties said. The purchasing group consists of Hong Kong-based renewable energy power plant builder National Modern Energy Holdings Ltd, which owns 51%, and Japanese investment firm Sun Investment.
$1 = ¥6.36