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Rongsheng shares jump after bond issue news China Rongsheng Heavy Industries Group Holdings Ltd, a shipyard seeking financial assistance from the government, surged the most in more than nine months after it agreed to issue convertible bonds to raise capital.儲存 The company aims to raise a net HK$1.38 billion ($178 million) from selling the bonds to Action Phoenix Ltd, it said in a statement to the Hong Kong stock exchange on Wednesday. The bonds maturing in 2016 have a coupon of 7 percent, and the initial conversion price is HK$1 a share, about 22 percent more than yesterday's closing price, the company said.Lottery website 500.com said to plan IPO in US 500.com, a lottery website in China with more than 15 million users, is preparing an initial public offering in United States, two people with knowledge of the matter said. The company, based in Shenzhen, is selecting investment banks for the share sale, said one of the people, who asked not to be identified because the information is private. The website may seek at least $150 million, the person said. 500.com will have to overcome diminished enthusiasm among US investors for Chinese IPOs, after accounting scandals tarnished the reputation of companies based in the country. 58.com, a Chinese local classified-ad website, plans to seek at least $100 million in a US IPO this year.Cheung Kong first-half profit falls 13 percent Cheung Kong Holdings Ltd, the Hong Kong developer controlled by billionaire Li Ka-shing, said first-half profit fell 13 percent after booking fewer apartment sales in the city. Net income declined to HK$13.4 billion ($1.73 billion) from HK$15.4 billion a year earlier, the company said in a statement to Hong Kong's stock exchange on Thursday. Stripping out gains from revaluations, profit fell to HK$11.6 billion from HK$12.6 billion. That compares with the HK$11.9 billion median estimate of five analysts. Cheung Kong, the city's second-biggest developer, and rivals are selling the fewest homes in almost five years as the Hong Kong government imposed extra transaction taxes and tightened mortgage lending to quell concerns of a real estate bubble.Pan Pacific sees copper surplus at 5-year high World copper supply may outstrip demand in 2014 for the second straight year to a five-year high as mine output increases amid slowing demand from China, the world's biggest user, according to Japan's top producer. Supply will exceed demand by 643,000 metric tons next year, the highest since 2009, compared with 143,000 tons this year, said Yoshihiro Nishiyama, senior executive officer in the marketing department at Tokyo-based Pan Pacific Copper Co. Copper has lost 12 percent this year while inventories almost doubled as demand dropped amid slowing growth in China and Europe's debt crisis.Electrolytic aluminum industry loses $109 million The electrolytic aluminum industry, which is burdened by overcapacity, lost 670 million yuan ($109 million) in the first half of the year. The Ministry of Industry and Information T新蒲崗迷你倉chnology said that it will introduce specific measures to deal with the excess capacity in the industry in the second half of 2013. The industry faces three challenges according to a report released by the ministry on Wednesday: overcapacity, high production costs and exports still not tailored for the sluggish global demand. The ministry predicted that nonferrous materials' prices will fluctuate at low levels with minimal profits for the next half year.Bank of East Asia grows 13%, beating estimates Bank of East Asia Ltd, Hong Kong's largest family-run lender, said first-half profit rose 13 percent as lending and fee income grew. Net income for the period increased to HK$3.38 billion ($436 million), or HK$1.43 a share, from HK$2.99 billion, or HK$1.35, a year earlier, the bank said in a filing to the Hong Kong stock exchange on Thursday. That exceeded the HK$2.78 billion average estimate of five analysts compiled by Bloomberg.China remains top market with infected mobile devices China remains the top market across the globe with infected mobile devices, as more than 6.7 million mobile handsets were under malware attacks in the first half of 2013, according to a report released by NQ Mobile Inc. The Beijing-based security software company identified 51,000 new mobile malware threats in the first half, up 189 percent year-on-year. More than 21 million mobile devices worldwide were infected during the period, the report said. The top five most infected markets in 2013 were China (31.71 percent), Russia (17.15 percent), India (10.38 percent), United States (6.53 percent) and Thailand (6.04 percent), the report said.First Chinese investment in South African vineyards A Chinese company bought a wine cellar and vineyards in South Africa, the first such investment by an operator from the Asian nation. Perfect China bought the cellar of the Val de Vie estate, located between the towns of Paarl and Franschhoek, near Cape Town, it said in an e-mailed statement on Thursday. The purchase includes a 25 hectare wine farm with 21 hectares of vineyards, it said. The cellar will be used by Perfect Wines of South Africa, in which Perfect China has a 51 percent stake. PWSA exported 2.8 million bottles of wine to the Asian country in 2011 and 2012, or about 25 percent of all South African wine shipments to the nation, it said.Eco-city forum set to explore green urbanization The Fourth China (Tianjin Binhai) International Eco-City Forum & Expo will be held from Sept 15 to 19 in Tianjin to explore innovative ways to build ecological cities in China's urbanization drive, according to a news conference held by the organization committee on Wednesday. The forum, launched in 2010, will be held under the theme "Eco-Cities Create an Harmonious Future". This year's forum focuses on the topic "Eco-City Construction and System Innovation". The event will welcome more than 70,000 participants and visitors, including political leaders, businessmen and scholars from home and abroad.China Daily - Agenciesmini storage