The private sector in Jiangsu and Zhejiang provinces is taking on the big state-owned shipbuilding giants in Shanghai. The China Securities Journal takes a look at the main players

Electric equipment producer Wuzhou Minovo Co (600873.SH) plans to sell its 100% stake in Weifang Wuzhou Pearl Real Estate Co to Shandong Wuzhou Investment Group for US$2.64 million (RMB18.0956 million), the Securities Times reported. The price is RMB3.4281 million more than its net asset value. Weifang Wuzhou Pearl Real Estate has US$1.75 million (RMB12 mill...

Aircraft and vehicle manufacturer AviChina Industry & Technology Co (2357.HK) said Monday its first-half turnover rose 0.59% to US$1.18 billion (RMB8.079 billion), the Shanghai Securities News reported. Snowstorms at the beginning of the year and the Sichuan earthquake delayed delivery of aero parts, resulting in sales dropping 11.23% to US$229.70 millio...

Tianjin Good Hand Railway Holding (TGHRH) (000594.SZ) said it signed an agreement Monday to sell its Shenzhen branch to Senbang Pharmaceuticals for US$12.54 million (RMB85.9 million), the Shanghai Securities News reported. It tried to sell the branch to Shaanxi Zhongtou Assets Management Co in July, but the deal was rejected by a snap board meeting on August...

China Railway Construction Corp (CRCC) (601186.SH, 1186 HK) said Tuesday its first-half net profit was up 22% year-on-year to US$222.69 million (RMB1.525 billion) on US$12.01 billion (RMB82.236 billion) in revenue, up 12% year-on-year, the Shanghai Securities News reported. Revenues from domestic business grew 7.57% to US$11.17 billion (RMB76.501 billion) ov...

Beijing Huaye Real Estate (600240.SH) is planning to acquire a 60% stake in Shaanxi Jinhong Investment Co for US$4.39 million (RMB30 million), the Securities Times reported. The deal includes some shares owned by Shenzhen Jinpeng Urban Investment Management Co and some owned by Shenzhen Hualongtai Trade Co. Huaye said the deal would enrich its land bank and ...

Giant Chinese household electrical appliance producer Qingdao Haier (600690) said Monday its first-half net profit climbed 45.99% year-on-year to US$80.34 million (RMB549 million) on US$2.77 billion (RMB18.9 billion) in revenue, up 10.44% year-on-year, the Securities Times reported. Its gross profit margin was 24.72%, 3.16 percentage points more than a year ...

China has overtaken the US as Japan’s largest export destination after it imported US$11.72 billion worth of goods in July, up 16.8% year-on-year, the Securities Times reported, citing official Japanese figures. It was the 38th straight month in which imports from Japan increased. Japan’s exports to the US declined for the 11th straight month in ...

Yanzhou Coal Mining (600188.SH) said Monday its net profit was up 239.3% in the first half of the year to US$550.54 million (RMB3.762 billion) on US$1.88 billion (RMB12.855 billion) in revenues, up 65.3%, the Shanghai Securities News reported. Its gross profit margin stood at 57.38%, 8.69 percentage points higher than a year earlier. Meanwhile, Datong Coal I...

China’s banking sector will grow steadily for the rest of the year despite slowing revenues from interest and a volatile mortgage sector, the Shanghai Securities News reported, citing a consensus of experts and analysts. “The Chinese commercial banks rely heavily on loans so they have a stable income and are not susceptible to the global credit c...