Aluminum Corporation of China (NYSE: ACH, SHA: 601600, HKG: 2600) posted ¥200.3 billion in revenues, up 41% year on year, and ¥2.7 billion in profits in 2010. It reported ¥7.25 billion in losses in 2009. Separately, the company has sealed a deal with Guangxi Nonferrous Metals Group to develop local rare earth industry.
China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762) attracted 617,000 2G customers and 1.28 million 3G customers in December, bring the total numbers to 153 million and 14.06 million respectively.
A-Power Energy Generation Systems Ltd (NASDAQ: APWR), a leading Chinese provider of distributed power generation systems and a manufacturer of wind turbines, said that it received a $10.2 million cash subsidy from the Liaoning provincial government in support for the company's acquisition of Evatech Co, a designer and manufacturer of industrial equipment for LCD, plasma display panels, and amorphous-silicon photovoltaic panels. Evatech is based in Japan.
China Education Alliance Inc (NYSE: CEU), a Chinese education resource and services company, said it has engaged Christensen to design, facilitate, and execute its investor and media relations programs. Christensen assists companies to strengthen brand recognition in the global capital markets and financial media.
China Shen Zhou Mining & Resources Inc (NYSE: SHZ), a Chinese company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals, said that it has entered into a securities purchase agreement with several institutional investors for a registered direct placement of $20 million of common stock at $7.05 per share. The company will issue a total of 2,836,883 shares to institutional investors. It will also issue warrants to the institutional investors to purchase up to 851,066 shares of common stock, which, if fully exercised for cash, would provide an additional $7.2 million in gross proceeds. The three-year warrants have an exercise price of $8.46 per share and are exercisable immediately following the closing date.
$1 = ¥6.59