Shanghai Baosteel Group Corporation, usually known as Baosteel is a state-owned steel company which is one of the biggest steel producers in the world, based on output. Its 2000 initial public offering in Shanghai was the largest in China at the time even though it was restricted to domestic investors.

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Briefs, January 10, 2013

PUBLISHED : Thursday, 10 January, 2013, 12:00am
UPDATED : Thursday, 10 January, 2013, 4:21am

Baosteel operating earnings fall 33pc

Unaudited net profit at Baoshan Iron & Steel, the country's largest listed steelmaker, rose about 40 per cent last year to 10.3 billion yuan (HK$12.8 billion), helped by the sale of some assets, the firm said. But operating profit before one-off items fell 33 per cent to 6.2 billion yuan. Reuters


Citic Securities results plunge from year ago

Citic Securities reported revenue of 1.07 billion yuan and net profit of 434.71 million yuan for last month and net assets of 72.54 billion yuan as of December 31. A year earlier, the Hong Kong-listed firm posted revenue of 8.92 billion yuan, net profit of 4.45 billion yuan and net assets of 73.9 billion yuan. Toh Han Shih


Haitong Securities posts 118m yuan profit

Haitong Securities reported operating income of 587.23 million yuan and net profit of 118.28 million yuan for last month and net assets of 57.97 billion yuan as of December 31. The Hong Kong-listed firm had reported operating income of 455.25 million yuan and net profit of 94.08 million yuan for November and net assets of 57.19 billion yuan as of November 30. Toh Han Shih


Lenovo phone to be first with new chip

Lenovo, the world's largest maker of personal computers, is seeking to extend its push into the smartphone market by becoming the first to sell a handset based on Intel's latest chip design. The K900 will work on a dual-core version of Intel's Atom processor. Bloomberg


Mercedes-Benz sales in China up 4pc to record

Sales in China by the Mercedes-Benz unit of Daimler grew about 4 per cent last year to a record 206,150 vehicles, the company said. New products helped boost volume, the firm said. Reuters


LCD TV sales jump 43pc at TCL Multimedia

TCL Multimedia, one of the mainland's biggest makers of televisions, reported a 43 per cent year-on-year rise in LCD television sales last year to 15.5 million sets. Last month, it sold 1.84 million screens, up 18.4 per cent year on year. Sophie Yu


Gogreen says it is in various M&A talks

China Gogreen Assets Investment said it is in talks to acquire a stake in an unnamed Hong Kong-listed firm and is also in talks with various parties on their acquiring a stake in a unit of Gogreen. The firm's shares rose from 44 HK cents on December 10 to HK$1.05 yesterday. Toh Han Shih


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Briefs, January 10, 2013

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