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Sina Voices Concern Over Censored Weibo Sina Corp (Nasdaq: SINA), a leading Chinese web portal, said it islooking for the best way to monetize its Weibo microbloggingservice, the most popular of its kind in China, as the Chinesegovernment steps up censorship on the internet. It even predictedthe demise of Weibo in the event of harsher crackdown on socialnetworking media in the country. Chalco Loses ¥1b in Q1 Aluminum Corporation of China Ltd (NYSE: ACH, SHA: 601600, HKG:2600) posted ¥33.59 billion in revenues and ¥1.09 billionin net losses for Q1 2012. The revenue was up 19% year on year, andthe net losses were compared to a ¥331.17 million net profit ayear earlier. Weak demand, rising raw materials costs and fallingalumina prices were blamed for the huge loss. Analysts say 2012would be the worse year for the company in three years. Costlier Fuel Hurts Eastern Airlines Profits China Eastern Airlines Corp (NYSE: CEA, SHA: 600115, HKG: 0670),the nation's second biggest carrier by passenger traffic, posted¥19.32 billion in revenues and ¥266.53 million in netprofits for Q1 2012, up 6.4% and down 74% respectively from thesame period a year ago. Higher fuel prices have offset the increasein operating sales and brought down earnings. Separately, theairline said it plans to issue ¥10 billion worth of 270-daybonds, without revealing details. Baosteel Net Profit Slumps on Sagging Demand Baoshan Iron & Steel Co (SHA: 600019), China's most profitablemill, posted ¥47.42 billion in revenues and ¥1.22 millionin net profits for Q1 2012, down 12% and 60% respectively from thesame period a year ago due to weak demand from the construction andautomotive industries after the government acted to cool them. ICBC, CCB Post Slowest Quarterly Growths in 2 Years Industrial & Commercial Bank of China Ltd (SHA: 601398, HKG:1398), the world's most profitable lender, posted ¥131.02billion in revenues and ¥61.34 billion in net profits for Q12012, up 15.1% and 14% respectively from the same period a yearago. China Construction Bank Corp (SHA: 601939, HKG: 0939), thenation's biggest mortgage lender, posted ¥109.68 billion inrevenues and ¥51.51 billion in net profits for Q1 2012, up15.9% and 9.2% respectively from the same period a year ago. Theirearnings growths were the slowest in more than two years as China'seconomy cooled during the same time. Ping An Q1 Net Profit Rises 4% Ping An Insurance Group Co of China (SHA: 601318, HKG: 2318), thenation's second biggest insurer, posted ¥86.5 billion inrevenues and ¥6.06 billion in net profits for Q1 2012, up 17%and 4.3% respectively from the same period a year ago. Premiumincomes from individual life insurance policies, a major profitcenter, grew 8% year on year to ¥59.29 billion. Premium incomesfrom property insurance were up 19.3% to ¥24.23 billion. Higher Prices, Sales Lift China Coal Energy Earnings China Coal Energy Co (HKG: 1898), the nation's second largest coalproducer by revenue, said its net profit rose 15% year on year to¥2.64 billion in Q1 2012, fueled by rising coal prices andsales. It produced 28.76 million tons of coal and sold 34.7 milliontons during the quarter, up 11% and 6% year on year respectively. Shenhua Energy Earnings Up 6% on Higher Prices, Sales China Shenhua Energy Co (SHA: 601088, HKG: 1088), the nation'sbiggest coal producer, said its net profit rose 5.9% year on yearto ¥11.74 billion in Q1 2012, fueled by rising coal prices andsales. It produced 79.1 million tons of coal and sold 108.3 milliontons during the quarter, up 12% and 16% year on year respectively. Citic Securities Q1 Net Profit Down 36% Citic Securities Co (SHA: 600030), China's biggest brokerage,posted ¥2.39 billion in revenues and ¥863.26 million in netprofits for Q1 2012, down 31% and 36% respectively from the sameperiod a year ago due to drops in its broking business andinvestment returns amid a bearish stock market. $1 = ¥6.28. The e-commerce company in China offers quality products such as Alkaline Water Ionizer Manufacturer , Beauty Facial Steamer, and more. For more , please visit Spa Facial Steamer today!
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