Chery's multi-billion new plant aims high
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China's business press carried the following stories on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Chery's multi-billion new plant aims high—China Business News
Chery, China's leading private carmaker, will add 400,000 units to its current capacity of 600,000 after it completes its new plants in Dalian and Wuhu.
Despite a governmental curb in auto overcapacity, Chery is starting a 1.61 million square meter construction at a cost of 10 billion yuan (US$1.47 billion) in Anhui Province's Wuhu.
Chery sold over 500,000 units in 2009, becoming the best-selling home-grown brand.
Last Friday Chery set a target of selling 700,000 cars during 2010, but a worker with the company said Chery aims to surpass BYD who sets the 2010 sales target of 800,000 units this year.
Shanda loses chief executive officer—China Business News
Shanda Games (GAME), a listed company on Nasdaq, announced yesterday the departure of Diana Li as CEO who leaves for an unspecified new venture. The company's current chairman Tan Qunzhao will take over the duties of both chairman of the board and CEO.
Earlier this month, Diana Li appeared at the annual gaming industry meeting and a press conference for purchase of US online game network Mochi Media. Diana Liwas appointed as CEO in 2008 after its former prominent leader Tang Jun resigned.
Shanda Games is a spin-off of Shanda Interactive (SDNA)'s game unit. GAME and SDNA were unaffected by the news and finished regular trading at $9.61 and $49.46, respectively, on the Nasdaq on Friday.
Listed companies turn profitable in 2009—National Business Daily
According to Wind Info, a leading provider of financial data and software in China, 70 listed companies who have released 2009 report posted 72.381 billion yuan in profit on their 409.77 billion yuan in revenue, 21 percent higher than 2008.
Pharmaceutical, machinery and financial sectors are the most robust in terms of growth; listed brokerages doubled their profits in 2009 among the sectors.
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