Shanghaicheap phones - Shanghai Minhang Export Processing Zone
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Shanghai - Shanghai Minhang Export Processing Zone Published: 10 Apr 2009 14:50:50 PST

Shanghai Minhang Export Processing Zone

Ningbo HTeardrop Bannersuacai buys state-owned assets of Meiling Group
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Ningbo Huacai buys state-owned assets of Meiling GroupPublished: 08 Sep 2009 00:05:31 PST

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Sep. 8, 2009 (China Knowledge) - Ningbo Huacai Electric Appliance Co Ltd has won the bidding for the state-owned assets of Meiling Group, beating counterpart Hefei Meiling Co Ltd<000521><200521>, sources reported.




Ningbo Huacai will take over the relevant fixed assets of Meiling Group and will also be able to use the Meiling brand for products in some categories. Hefei Meiling is also using the Meiling brand.




The bidding was made on Hefei Assets and Equity Exchange, and the base price of the transaction was RMB 111 million, according to the announcement.




Analysts point out that the Hefei municipal government may have influenced the bidding in the hope that Meiling Group's new owner will help boost the local economy. Sichuan Changhong Electric Co Ltd<600839>, which controlled Hefei Meiling, may have had different ideas about business development.




Sichuan Changhong Electric bid for the assets in order to increase its control of the Meiling brand. There are 28 categories of products registered under the name Meiling, of which 27 categories were owned by Meiling Group.




Ningbo Huacai is a household appliance manufacturer in China. It has an annual production capacity of 1 million refrigerators and 500,000 washing machines.


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Chinese surge protectionairlines receive capital injection via share placement
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Chinese airlines receive capital injection via share placementPublished: 12 Dec 2008 02:53:24 PST

Dec. 12, 2008 (China Knowledge) - China Southern Airlines Co<600029><1055><ZNH> and China Eastern Airlines<600115><670><CEA> announced separately that they have secured approval from the State Council to receive capital injections from their own parent companies through private share placement.

China Southern said in a statement filed with the Shanghai Stock Exchange that it plans to raise approximately RMB 2.28 billion through selling 721.15 million new A-shares to its parent company at RMB 3.16 apiece.

China Southern also expects to sell 721.15 million new H-shares to Nan Lung Holding Ltd, a wholly-owned overseas subsidiary of its parent.

Meanwhile, China Eastern said it plans to issue up to 652.18 million new A-shares and 652.18 million new H-shares to its parent at RMB 3.6 per share and to CES Global Holdings (Hong Kong) Ltd, a wholly-owned unit of CEA Holding, respectively.

China Eastern hopes to raise as much as RMB 3 billion via the share offering. Proceeds of the share sales will be used to replenish its working capital.

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Chinese pigment red 57:1stocks open 0.53% lower on Thu
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Chinese stocks open 0.53% lower on ThuPublished: 11 Mar 2009 21:44:30 PST

Mar. 12, 2009 (China Knowledge) - Chinese stocks opened slightly lower on Thursday extending yesterday's losses.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, opened slightly lower at 2,127.73, down 0.53% from Wednesday.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange opened 0.51% lower at 7,900.87 points.

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Barclaysbridge rectifier raises stakes in 4 Chinese firms
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Barclays raises stakes in 4 Chinese firmsPublished: 25 Oct 2009 17:19:32 PST

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Oct. 26, 2009 (China Knowledge) - Barclays Global Investors UK Holdings Ltd, a subsidiary of Britain's Barclays Bank Plc, on Oct. 16 raised its shareholding in China Telecom Corp Ltd<0728><CHA> to 7.54% from the previous 6.9%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.




HKEx said that Barclays last Friday bought 89.56 million H shares of China Telecom for HK$340 million. The average share price of the transaction was HK$3.79 apiece.




On the same day, Barclays Global bought 12.09 million H shares of China Coal Energy Co Ltd<601898><1898> for HK$130 million at HK$10.72 per share, raising its stake in the Chinese coal producer to 7.05% from the previous 6.76%.




Barclays Global also bought 12.2 million H shares of China Railway Group Ltd<601390><0390> for HK$79.69 million, raising its stake in the Chinese firm to 7.24% from the 6.95% it held earlier.




In addition, Barclays Global purchased 10.5 million H shares of Air China Ltd<601111><0753> for HK$46.79 million, raising its shareholding in the Chinese air carrier to 6.14% from the previous 5.9%.


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