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China’s military has posted a list of suppliers, and some 900 non-government-controlled companies are on the list, according to a report in the Securities Times today.
Among them: wire and cable maker Jiangsu Hongtu High Technology, whose chairman Yuan Yafei ranked no. 147 on 2010 Forbes China rich list with wealth of $900 million.Investors in China’s main financial district are talking about the following before the start of trade today:Main U.S. stock indexes ended little changed overnight amid continued worries that global economic growth is poised to slow. U.S.-traded China Internet stocks that tend to trade at high valuations mostly fell. Among them, e-commerce site Dangdang lost 5% and social media site Renren lost 1.4%. Shenzhen-listed China Vanke , one of the country’s largest developers and something of a bellwether for that group, said today it sold 810,000 square meters of property in May worth 9 billion yuan, up 72.4% and 76.4% compared with last year. Its shares gained 0.3% yesterday.China had 58 mergers and acquisitions in May, worth a total of about $3.4 billion, the China Securities Journal reported today. Multinationals accounted for 27.6%. Among them, Ericsson bought part of Guangdong Nortel Telecommunication Equipment assets for $50 million Shanghai-listed auto glass maker Fuyao Glass Industry Group said today it plans to invest $200 million in a glass factory in Russia. Chairman Cho Tak Wong ranked no.692 on the 2011 Forbes billionaires list with $1.8 billion stocks closed at 10.09 yuan yesterday, up 1.41% Shanghai-listed real estate company Xinhu Zhongbao said today announced that the company purchased coal mining rights in Inner Mongolia for 643 million yuan from a local government agendy. The company has also diversified into the entertainment industry of late. Founder Huang Wei ranked no.512 on the 2011 Forbes Billionaires List with $2.3 billion. In potentially sign of trouble for the auto industry, GM partner SAIC Motor said today it sold 304,423 cars in May, up only 5.4% from a year earlier. It had sold 1,686,342 cars in first five months, up 13.6% year-on-year. Its shares lost 0.5% yesterday. Three companies will debut in China trading today: Shanghai Ganglian E-Commerce Holdings Co., Ltd. (300226), an integrated IT service provider specialized in steel information whose clients include Baoshan Iron &Steel and Sany Heavy Industry; Shenzhen Sunshine Laser and Electronics Technology (300227), an electronics information industry for precision laser innovation application business whose customers include Huawei, ZTE, BYD, Foxconn, Motorola, Nokia and Siemens; and Zhangjiagang Furui Special Equipment (300228), which makers pressure vessels. Its Clients include LDK, Praxair, Bayer and Novartis
In a sign that China’s IPO market may be weakening, Nanning Baling Technology Co. was forced to suspend its IPO after it only attracted 10 institutions’ inquiries, according to the Securities Times. A company should attract at least 20 institutions, the paper said.
- with Maggie Chen
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