On the 29th, Pierre Cardin announced that it will sell its garments and clothing business in China to two Chinese companies, total 200 million euros.
87-year-old Pierre Cardan said that in the past two months, the company has negotiated with Chinese companies on the sale of 32 kinds of authorized products. He pointed out that the sale contract will soon be signed.
The spokesman of Pierre Cardin said the two Chinese companies are Guangzhou Jian Sheng Trading Co., Ltd. (Jiansheng Trading Company) and Cardan Corporation (Cardanro). He said that now Pierre Cardin has more than 800 kinds of product licenses in 140 countries.
Pierre Cardin is the first international brand which enters the Chinese market. The relationship started in 1978. At that time Pierre Cardin was the first European designer to come to China.
Originally Posted: China Business Daily
Author: Angulo Fu
Read More...
Read Summary...
Shougang Group decided to set up steel logistics base in the Foshan city. The project total investment is about 5 billion, the first phase of the project will start in September.
The project includes a business center, three deep-processing production lines whose annual output reaching 150,000 tons. It is reported that the warehousing will reach two million tons per year. Within 2 or 3 years, the annual output value will reach seven billion yuan.
Originally Posted: China Business Daily
Author: Angulo Fu
Read More...
Read Summary...
Chinese Internet portal operator Tencent Holdings Ltd. said Wednesday its first-quarter net profit rose a better-than-expected 94% from a year earlier on higher revenue from Internet services. This figure breaks down into $278 million strictly from sales of Internet virtual goods and related services and $64.3 million from mobile sales of virtual goods and services. The remainder of Tencent's revenue, about $21 million, is accounted for by advertising.
But Tencent warned its performance this year will be hurt by the global slowdown. The company said it expects the economic environment to remain challenging in the midst of the global recession. "Our online advertising business would continue to be affected by the economic slowdown as advertisers remain cautious on their spending for 2009," Chairman and Chief Executive Ma Huateng said in a statement.
It should be noted that the huge increases reported in the Internet and mobile virtual goods categories may be affected by seasonal changes in consumer behavior patterns. Chinese New Year and student winter break periods bring major increases in spending on Tencent's QQ value-added services. For strictly game-related value-added services, Cross Fire, QQ Dancer, and Dungeon and Fighter all posted positive revenues and gains in numbers of users. Exact amounts were not disclosed.
Looking ahead to Q2, Tencent expects to see virtual goods sales decline as a result of seasonality while the advertising segment is expected to improve somewhat. Generally, though, Tencent expects users to continue spending a lot of time online.
So long as users are on the Internet in their day-to-day lives, then Tencent believes it has ample opportunity to engage users and encourage them to spend on virtual goods and other services.
Originally Posted: China Business Daily
Author: Angulo Fu
Read More...
Read Summary...
The first Airbus A320 aircraft assembled in China is scheduled to make a test flight in May.
The flight will be held at Tianjin Airport, where a new runway is being built to facilitate trial flights of all A320 aircraft, Feng Zhijiang, head of the administrative committee of the Tianjin Free Trade Zone, said.
Five A320s are currently being put together at the Tianjin final assembly line, the first Airbus production facility outside Europe.
Several major parts of the aircraft were put together in Hamburg, Germany, before being transported to Tianjin for final assembly, Feng said.
"Twelve more A320s will be assembled in Tianjin and delivered next year," he said.
"They will incorporate some locally made parts, including the wings and fuselage. Assembly of the major parts will be done here in Tianjin."
The Airbus A320 final assembly line in Tianjin opened in September as the company's third general assembly line. The other two are in France and Germany. The Tianjin facility is used for assembling A319s and A320s.
The first Airbus A320 plane assembled in China's northern city Tianjin is due to be delivered to the domestic Sichuan Airlines. The second Tianjin-manufacturered A320 is to be delivered to the domestic Hainan Airlines, and the third to Shenzhen Airlines. The remainder of the eight planes on the delivery schedule for this year were either for China Eastern Airlines or Hainan Airlines.
According to a report by the Tianjin Airport-based Industrial Zone, China has become the world's second largest aviation market after the United States. The country is estimated to need 2,670 passenger planes in the next 20 years.
Originally Posted: China Business Daily
Author: Angulo Fu
Read More...
Read Summary...
Blizzard just confirmed it's gone with NetEase for its Chinese licensing, as has been rumoured for the last few days.
The9 was the previous holder of the contract.
NetEase will now run the Chinese version of World of Warcraft “for a term of 3 years following the expiration of the current license agreement.”
“We appreciate the enthusiasm that Chinese gamers have shown us over the years, and we've always worked hard, in collaboration with our partners, to ensure that these players receive the same high-quality service and gameplay experiences that we deliver in other regions.” said Blizzard head Mike Morhaime.
“This new agreement with NetEase will support that goal for years to come, and we look forward to collaborating with them on a smooth transition for World of Warcraft moving forward.”
Blizzard didn't specifically say this morning why it's dropped The9 in favour of NetEase to run its Chinese WoW operation, but Wedbush Morgan analyst Michael Pachter's claimed the answer’s simple: it's going to make a mother-trucking boatload more money from the new deal.
“The company had previously contracted with The9, but the current arrangement will expire in June 2009.” said Pachter in a note this afternoon.
“Under the terms of its contract with The9, Activision Blizzard received a royalty of 22% on revenues generated in China. We estimate that the current arrangement generated revenues of around $50 – 55 million annually (using most recent subscriber figures), at close to 100% margin. Although the terms of the new arrangement were not disclosed, we estimate that the royalty rate will increase to at least 55%, and that the new arrangement will generate revenues of over $140 million annually.”
$90 million is probably a good reason to kick a partner into touch. But don't shit the bed just yet, share-buyers: Pachter said he believed the upside - approximately $0.04 per share - has already been factored into forecasts.
Originally Posted: China Business Daily
Author: Angulo Fu
Read More...
Read Summary...
On the 29th, Pierre Cardin announced that it will sell its garments and clothing business in China to two Chinese companies, total 200 million euros.
Posts
