E-businesses sign agreement for better online environment -- Ten e-commerce enterprises in China, including Alibaba and JD, signed an agreement on October 10 to be honest in their business dealings, protect customers' information and help build a safe online environment. The agreement, initiated by the China Federation of Internet Societies under the country's Cyberspace Administration, requires the enterprises to strictly review the quality of online goods, fight against false advertisements and protect the safety of consumers' data. (Source: China Daily)
Gree (000651.SZ) Q1-3 profit approaches that last year -- Gree Electric Appliances, Inc. of Zhuhai (000651.SZ) said on October 8 that its operating revenue and net profits in the first three quarters of the year both have approached those in the full year of 2017. According to its filing to the stock exchange, Gree expected its operating revenue in the first three quarters of the year to be in a range from 149.05 billion yuan to 150.86 billion yuan. Its net profits during the period are expected to be in a range from 20.58 billion yuan to 21.57 billion yuan, up 33-40 percent year on year.
Germany listing set for Qingdao Haier -- Qingdao Haier Co Ltd announced on October 5 it is moving ahead with plans to list on the China Europe International Exchange's D-Shares Market in Frankfurt, making Haier, which is one of the world's largest home appliances makers, the first Chinese company with such a plan. According to Haier's announcement, it will sell up to 400 million euro-denominated D-Shares. (Source: China Daily)
Lepu Medical to inject USD12.5 mln into American company Rgenix -- Lepu Medical Technology (Beijing) Co., Ltd. announced that it plans to invest 12.5 million U.S. dollars to join in series C funding of American biopharmaceutical company Rgenix. According to a company filing, it would like to introduce first in-class drugs, including RGX-104 into China, conducting clinical trials and market development in the country.
China's Linglong Tire to enhance partnership with Paraguay's SUNSET on market share in Latin America -- Shandong Linglong Tire Co., Ltd. (601966.SH), a leading Chinese tire manufacturer, said on October 9 that it would sign a strategic cooperation agreement with Paraguay-based tire distribution company SUNSET Tires Corporation Limited in Sao Paulo, Brazil on October 5 to capture more market share in Latin America. Under the agreement, the two sides will work together to help Linglong achieve an over 10-percent market share in Brazil's Chinese tire imports market, and a 10-percent market share in Paraguayan market each year from 2019 to 2021.
China Zhongwang signs product supply contract with Jaguar Land Rover -- China Zhongwang Holdings Limited (01333.HK) signed a contract with Jaguar Land Rover to supply quality aluminum extrusion products to Jaguar Land Rover's British company as a Tier-1 supplier, the Xinhua-run China Securities Journal reported on October 8. China Zhongwang will maintain close collaboration with Jaguar Land Rover and present the best products to the market, said Lu Changqing, chairman and president of China Zhongwang.
China's Mobike expands service in Israel's Tel Aviv -- China's bike-sharing firm Mobike announced on October 9 through its Israeli franchise that it is expanding its service in the coastal city of Tel Aviv, while pulling out of three other cities in the state. Mobike signed an agreement with TLV Fashion, one of Tel Aviv's largest shopping malls, in which tens of bicycles were placed close to the mall for the use of the city's residents and visitors.
Alipay extends overseas reach amid outbound tourist surge -- Leading Chinese online payment platform Alipay has extended its services to 40 overseas tourist destinations amid a surge in outbound trips during the ongoing National Day holiday. Alipay's 40 new partners, mostly in Asia and Europe, include 10 airports, business districts, Chinatowns and outlet shopping malls.
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