Industry

Industry

GM Sells 1.5 Mln Units in China During January ~ August Period

»General Motors said Thursday it has sold 1.5674 million units in China in the first eight months, up 41 percent from a year earlier.

»Sales in August increased 19.2 percent year-on-year to 181,600, the company said in a report. The upbeat in sales in August signals a robust growth in the next half of the year, it said.

Bank of Beijing First-Half Net Profit Up 46Pct

»Bank of Beijing recorded a 33.47 percent year-on-year increase in the first half net profit to 3.9 billion yuan, it said Sunday.

»Operating income was 7.376 billion yuan in the first six months, up 31.92 percent from a year ago. Earnings per share reached 0.63 yuan in the first half.

»The bank’s non-performing loan ratio reached 0.76 percent as of the end of June, down 0.26 percentage points from the beginning of the year.

China's SPDB Net Profit Climbs 33.92Pct in H1

»Shanghai Pudong Development Bank (SPDB) said its half year net profit rose 33.92 percent from one year earlier due to lending boom and increased commission fees.

»Net profit for the January ~ June period hit 9.08 billion yuan ($1.34 billion) and operational revenue climbed 36.42 percent to 22.75 billion yuan during the same period.

»Earnings per share were 0.791 yuan, up 20.21 percent year-on-year.

Brilliance China Returns Profit in H1 as BMW Sales Rise

»Brilliance China Automotive Holdings (01114.HK) has reported a return to profitability at the net income level in the first six months this year driven by strong sale of MMW-Brilliance.

»First-half net profit hit 510 million yuan, compared with a loss of 386 million yuan in the same period of last year.

»Brilliance has 50 percent ownership in a joint investment with BMW. Sales of BMW 3-series and 5-series surged more than 50 percent from the previous year.

Bank of China Repots Nearly 26Pct Net Profit Jump

»Bank of China, the country’s third-largest lender by market value, said Thursday its first-half net profit climbed 25.77 percent to 54.38 billion yuan.

»Net profit attributable to parent company in the first six months was 52.02 billion yuan, a gain of 26.87 percent year-on-year.

»Total assets ending June 30 stood at nearly ten trillion yuan, up 10.67 percent from the end of last year.

Air China Profit Jumps 60Pct on Travel Rebound

»Air China Ltd., (9601111.Sh), the world’s largest carrier by market value, posted Wednesday a net profit of 4.69 billion yuan for the first six months, up 60.44 percent year-on-year due to surging travel demand.

»Beneficial from rebounding travel demand, the Beijing-based carrier boosted its revenue both in passenger transport and cargo transport.

China Life Insurance H1 Profit Surges 7.4Pct

»China Life Insurance (601628.SH/02628.HK), the country’s largest insurer,
said Wednesday its first-half net profit surged 7.4 percent boosted by income
from rebounding premium and investments.

»Net profit for the first six months hit 18.03 billion yuan (2.67 billion
U.S. dollars), and total assets reached 1.32 trillion yuan by the end of June, a
gain of 7.7 percent year-on-year, the company said in a statement filed to the
Shanghai Stock Exchange.

Ping An Insurance Posts Strong H1 Profit of 9.87Blin Yuan

»Ping An Insurance Co., China's second-biggest insurer, said first-half profit climbed 27.8 percent to 9.87 billion yuan, driven by expanding premiums and increasing profit in securities and trust businesses.

»Operational revenue stood at 93.82 billion yuan ending June 30, 2010, said the half-year results released on Tuesday.

Shenzhen Development Bank H1 Profit Rises 31Pct

»Shenzhen Development Bank Co. said on Tuesday its first-half net profit rose 31 percent from a year ago to 3.03 billion yuan.

»Earnings per share were 0.98 yuan, up 31 percent year-on-year.

»Operational revenue in the first half was 8.5 billion yuan, a gain of 13 percent year-on-year. Interest net income increased by 16 percent to 7.41 billion yuan, accounting for 87.2 percent of total revenue.

BYD Plans Shenzhen Listing in H2

»China’s largest private automobile producer BYD Co., said Monday it is preparing documents for listing in Shenzhen Stock Exchange and hopes to complete the listing by the end of 2010, according to sources.