Of the 2,000 plus companies listed on the mainland, 531 raised a combined ¥1.02 trillion through offerings on exchanges in 2010, according to the securities regulator. Of the 531 companies, 347 were IPOs that raised a record ¥488.3 billion.
Taobao.com, China's dominant C2C site operated by Alibaba Group (HKG: 1688), generated ¥5 billion in revenues in 2010, predicted market watchers. Up to 80% of the revenues came from ads, significantly up from ¥1.5 billion in 2009. Taobao's turnover exceeded ¥400 billion in 2010, vice president Lu Peng had previously stated.
Shanxi Taigang Stainless Steel Co (SHE: 000825) produced 2.72 million tons of the material in 2010, up 9.68% from a year earlier and continuing to be the world's No 1 producer of stainless steel, said its parent Taiyuan Iron & Steel Group Co.
Li Ning Co (HKG: 2331), a leading Chinese homegrown sportswear brand, said its orders in Q3 and Q4 would be worse than in the first 2 quarters of this year. It also forecast declines for operating income and net profit.
China Yangtze Power Co (SHA: 600900), an electricity producer, posted ¥21.97 billion in revenues and ¥8.45 billion in net profits for 2010, up 99.44% and 82.83% respectively from a year earlier.
Beijing Automobile Works Co, China's 5th largest automaker and the parent of Beiqi Foton Motor Co (SHA: 600166), both produced and sold 1.5 million vehicles in 2010, up 18.3% and 20.6% year on year respectively. It posted ¥158.4 billion in revenues and ¥11.04 billion in profits, up 35.1% and 75.1% year on year respectively.
Beijing Yanjing Brewery Co (SHE: 000729) said it plans to produce 8 million tons of beer, report ¥23 billion in revenues and ¥2 billion in profits becoming the world's 5th largest beer maker by 2015, said general manager Zhao Xiaodong. It produced 5 million tons in 2010, ranking 8th globally.
Huaneng Power International Inc (NYSE: HNP, SHA: 600011, HKG: 0902), China's largest listed power producer, posted ¥227 billion in revenues and ¥6.98 billion in profits in 2010, up 28% and 1.5% respectively from a year earlier. Its coal output totaled 48.86 million tons, 6.4 times the amount recorded in 2005.
$1 = ¥6.59