China Western Power Industrial to buy 51pct stake in German nuclear waste disposal company -- China Western Power Industrial Co., Ltd (002630.SZ) announced on late July 24 that it planned to inject 6.503 million euros (about 51.5857 million yuan) to purchase a 51-percent stake in JL Goslar GmbH, which is held by German Endurance Capital AG and Pro Consult Plus UG. JL Goslar GmbH is a nuclear waste disposal company, and its main business is radiation protection devices, containers and industrial parts, and anode materials. In 2017, the company’s operating revenue and net profit reached 32.52 million Euros and 3.62 million Euros respectively.
BAIC expects S African plant to roll out 50,000 units in 2019 -- Beijing Automotive Industry Corp, or BAIC, one of China's five major automakers, is expected to have an annual production capacity of 50,000 units in its South Africa plant by the end of 2019, said its top executive. The plant is a joint venture between BAIC and South Africa's state-owned Industrial Development Corporation, with planned investment of 800 million U.S. dollars. (Source: China Daily)
Hainan ties up with Xiaozhu to promote rural home-sharing model -- Chinese home-sharing company Xiaozhu Inc reached a strategic agreement with Hainan provincial tourism development and reform commission on July 25 in Haikou, to develop rural home-sharing business on the tropical island. “Hainan is seeking cooperation with all kinds of tourism companies outside the island to help enhance local rural tourism, which has become a new growth point in Hainan’s precision-poverty-relief and rural revitalization efforts and the supply-side reform of its rural economy.” said Ao Liyong, deputy director of the commission. (Source: China Daily)
China Tower to debut on the HKSE on Aug.8 to raise a max of HKD68 bln – China Tower Corporation Limited is scheduled to get listed on the Hong Kong Exchanges (HKEX) on August 8. According to a company filing, it plans to sell 43.1148 billon H-shares with offering price at 1.26 HK dollars -1.58 HK dollars per share. The company will raise a maximum of 68 billion HK dollars via the IPO, likely to be the biggest IPO case on the HKEX within this year.
Sinopec projects 50pct rise in H1 profit -- China's oil giant Sinopec Group announced on July 24 that its net profit is expected to reach 27.09 billion yuan (3.98 billion U.S. dollars) in the first half of the year, surging by 50 percent, as crude oil price in the global market increased in the period. China Petroleum and Chemical Corporation, a trading subsidiary of the group, said the international upward trend of oil price in the first six months significantly boosted the company's upstream business, while its midstream and downstream operations upgraded structure to ride the wave of the favorable market situation.
Tencent's Wechat Pay introduced to Japan's Fuji-Q Highland park -- Japan's Fuji-Q Highland park will officially introduce Chinese mobile payment platform Tencent’s Wechat Pay. Visitors can use Wechat to buy tickets or pay for their purchase, covering all facilities and services including amusement ticket, souvenir retail, catering, etc.
Suning releases blockchain white paper -- Suning Institute of Technology, Suning Institute of Finance and Suning Cloud on July 20 jointly release Suning blockchain white paper which explains in detail the application scenarios of blockchain in the fields of retail, logistics, technology, finance, cultural and creative industries while point the future of blockchain technology service in other industries. The blockchain technology builds a unique credit mechanism that is very promising, according to Qiao Xinliang, vice president of Suning science and technology group, noting that the white paper is Suning’s in-depth summary of blockchain’s using scenarios in smart retail through its own technology, business and functional system.
Guangdong VTR to inject EUR510,000 to set up subsidiary in Germany -- Guangdong VTR Bio-Tech Co., Ltd. (VTR) (300381.SZ) announced on July 23 that it is going to co-finance with Phytobiotics Futterzusatzstoffe GmbH (Phytobiotics) to set up a subsidiary in Germany. According to the announcement, registered capital of the German subsidiary would be 1 million euros, with 510,000 euros funded by VTR.
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