ChinaEdu Corporation (NASDAQ: CEDU), a leading online education services provider, posted $17 million in revenues and $800,000 in net profits for Q2 2011. Revenues were up 10.6% from the same period a year ago; no growth rate was given for net profits.
Shanghai Jahwa United Co (SHA: 600315), a leading cosmetics and household cleaning products maker, said the Shanghai State-Owned Assets Supervision and Administration Commission had put its largest shareholder Shanghai Jahwa Group up for sale for ¥5.11 billion. Jahwa Group's holdings in the listed arm are valued at ¥4.39 billion. Shanghai Jahwa United Co posted ¥1.92 billion in revenues and ¥207.21 million in net profits for 1H 2011, up 22% and 30% year on year respectively. Prospective buyers include France's LVMH and Singapore's Temasek Holdings Pte.
Shenzhen Agricultural Products Co (SHE: 000061), a leading produce wholesale company, said it plans to offer additional shares to raise ¥2.5 billion, ¥2 billion of which will be invested in building a total of two logistics dispatch centers in Tianjin and Guangxi provinces while the remaining ¥500 million will be used to repay bank loans. The company traded 23 million tons of agriculture products valued at ¥106 billion in 2010; the value accounted for 10% of the nation's total.
Poly Real Estate Group Co (SHA: 600048), a Guangzhou-based property developer, said it sold 529,400m2 in floor space valued at ¥6.02 million in August, down 36.5% and 12% year on year respectively. In the first eight months of 2011, it sold 4.41 million m2 valued at ¥50.54 billion, up 11.5% and 56.6% year on year respectively.
Shenzhen Shenbao Industrial Co (SHE: 000019), a soft drink maker, said it plans to sell a 15% stake in Pepsi Shenzhen to Pepsi China for ¥144 million. Shenbao's holdings in Pepsi Shenzhen will decrease to 10% after the deal; Shenbao sold 5% of Pepsi Shenzhen to Pepsi China late last year. Pepsi Shenzhen lost ¥1.16 million in 1H 2011 and ¥67.42 million in 2010.
Heilongjiang InterChina Water Treatment Co (SHA: 600187) said it plans to spend ¥69 million registering a wastewater treatment plant in Shandong province. The initial phase of the project will cost another ¥138 million.
Zhongtian Urban Development Group Co (SHE: 000540) said it plans to invest ¥332.99 million establishing a company for entertainment and tourism businesses in Guizhou province where the company is headquartered.
$1 = ¥6.39
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