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Eastern Airlines Said to Replace Airbus Orders with Boeing China Eastern Airlines Corp (NYSE: CEA, SHA: 600115, 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 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: 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 Up 6% as Production Expands PetroChina Co (NYSE: PTR, SHA: 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% respectively from the same period a year ago. Heavy lossesfrom selling fuels at government-set prices dragged down earings.Sinopec produced 32.87 million 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 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 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. I am an expert from gift-packagingboxes.com, while we provides the quality product, such as Brown Kraft Paper Bag Manufacturer , Cardboard Photo Frame Manufacturer, Gift Packaging Boxes,and more.
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