Tencent Holdings (HKG: 0700), China's largest Internet company by market value, posted ¥5.2 billion ($1 = ¥6.6) in revenue and ¥2.2 billion in net profit for Q3 2010, up 55.1% and 51.3% respectively from Q3 2009.
7 Days Group Holdings Ltd (NYSE: SVN), a leading Chinese budget hotel chain, posted ¥405.5 million in revenue and ¥59.8 million in net income for Q3 2010, up 30.9% and 1,634% year on year respectively.
Soufun Holdings Ltd (NYSE: SFUN), a leading Chinese real estate information site, posted $57.4 million in revenue and $18.1 million in net profit for Q3 2010, up 83.4% and 14.4% respectively from Q3 2009.
Industrial & Commercial Bank of China (SHA: 601398, HKG: 1398), the world's largest lender by market value, has announced a ¥45 billion rights offer plan. All money to be raised will be used to replenish its core capital. The bank's capital adequacy ratio was 11.57% as of September 2010 and core capital adequacy ratio 9.33%.
Aluminum Corporation of China (NYSE: ACH, SHA: 601600, HKG: 2600) has raised its alumina price 5.5% to ¥2,900/ton, effective immediately. It is the second markup since August. Experts say the price hike will do little to help the company turn around from being in the red as China's aluminum market is not faring well as nonferrous metals are.
China Railway Group Ltd (SHA: 601390) has announced its largest ever restructuring plan that will affect 17,000 employees and ¥12 billion worth of assets.
TCL Corp (SHE: 000100), a leading Chinese white goods maker, sold less than 5.8 million LCD TV sets in the 10 months through October 2010, down 7.8% from a year ago.
Hebei province-based Tangshan Iron & Steel Co (SHE: 000709) has said it was in talks with six local privately owned mills for acquisition talks. No more details were available.
China State Construction Engineering Corp (SHA: 601668) said its property sales totaled 5 million m2 fetching ¥51.6 billion in the 10 months through October 2010, up 1.7% and 25.9% year on year respectively.