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China corporate news: eastern airlines said to replace airbusorders with boeing; zte [link widoczny dla zalogowanych] partners with ebay for distribution in us
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Posted:December 13, 2012Comments:Views:4
Eastern Airlines Said to Replace Airbus Orders with Boeing China Eastern Airlines Corp (NYSE: CEA, SHA: 600115, [link widoczny dla zalogowanych] HKG: 0670),the nation's second biggest carrier by passenger traffic, isplanning to order 20 Boeing 777s valued at $6 billion as it cancels$3 billion worth [link widoczny dla zalogowanych] of 20 Airbus A330 orders placed with Airbus lastOctober, people with knowledge of the matter said. China isstepping up its confrontation with the EU over its aviation carbonemission tax. The three sides declined to comment. Southern Airlines Earnings Dive 74% Despite Higher Revenue China Southern Airlines Ltd (NYSE: ZNH, SHA: [link widoczny dla zalogowanych] 600029, HKG: 1055),the nation's biggest carrier by passenger traffic, posted?23.69 billion in revenues and ?319 million in net profitsfor Q1 2012, up 15.5% and down 74.2% respectively from the sameperiod a year ago.
Higher fuel costs and lower foreign exchange netincomes were behind the plunge in earnings. PetroChina Q1 Net Profit [link widoczny dla zalogowanych] Up 6% as Production Expands PetroChina Co (NYSE: PTR, SHA: [link widoczny dla zalogowanych] 601857, HKG: 0857), the nation'sbiggest oil explorer, posted ?525.65 billion in revenues and?39.15 billion in net profits for Q1 2012, up 17.9% and 5.8%respectively from the same period a year ago. It processed 2.57million barrels of crude oil during the quarter, up 2.8% year onyear. Its refining business lost ?10.85 billion but theconditions have improved.
Sinopec Q1 Net Profit Down 37% Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386), the nation'sbiggest oil refiner, posted ?671.37 billion in revenues and?12.83 billion in net profits for Q1 2012, up 14% and down37.4% [link widoczny dla zalogowanych] respectively from the same period a year [link widoczny dla zalogowanych] ago. Heavy [link widoczny dla zalogowanych] lossesfrom selling fuels at government-set prices dragged down earings.Sinopec produced 32.87 million [link widoczny dla zalogowanych] tons of refined oil during theperiod, up 5% year on year. China Telecom Q1 Net Profit Hit by iPhone Costs China Telecom Corp (NYSE: CHA, HKG: 0728) posted ?67.93billion in revenues and ?4.27 billion in net profits for Q12012, up 15.7% and down 6.5% respectively from the same period ayear ago. The introduction of the iPhone boosted costs and hurtearnings, which were lower [link widoczny dla zalogowanych] than expected.
ZTE Partners with eBay for Distribution in US ZTE Corp (SHE: 000063, HKG: 0763), China's second largest telecomdevice maker, said it will sign a deal with eBay Inc (Nasdaq: EBAY)to broaden its distribution channels in the US as part of [link widoczny dla zalogowanych] itsefforts to boost sales of tablet computers and smartphones in theyears to come. ZTE hopes to sell 1.5 million tablet computers and40 to 50 million smartphones globally this year. Zijin Net Profit Falls 23% Zijin Mining Group Co (SHA: 601899, HKG: 2899), China's largestgold producer by output, posted ?9.19 billion in revenues and?1.07 billion in net profits for Q1 2012, up and down 23%respectively from the same period a year ago. Uncertainty overglobal economic recovery and inflation concerns affected demand forZijin's products, the company said. $1 = ?6.28.
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