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Inspur Electronic's Attributable Profit Increases More Than Threefold in H1; Shares Up 5%

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Inspur Electronic Information Industry's (SHE:000977) attributable profit jumped 270%, or 3.7 times, to 2.95 billion yuan in the first half from 798.6 million yuan in the year-ago period, according to a Saturday filing with the Shenzhen Stock Exchange.

Earnings per share at the cloud computing and big data company increased to 2.0101 yuan from 0.5425 yuan in the prior-year period.

Operating revenue edged up 5.2% year over year to 84.4 billion yuan from 80.2 billion yuan.

Company shares rose 5% during the midday break on Monday.

What else is happening in Asia?

Asia

Sany Heavy Industry Plans Up to 10 Billion Yuan Asset-Backed Securities Issue

Sany Heavy Industry (HKG:6031, SHA:600031) said its board approved plans to establish an asset-backed special purpose vehicle and issue asset-backed securities under a financing lease, with a shelf size of up to 10 billion yuan, according to an Aug. 28 Hong Kong bourse filing.The securities will be backed by accounts receivable held by the company and its subsidiaries and may be issued in multiple tranches over two years, with each tranche having a duration of up to five years.SANY Group, the controlling shareholder, plans to subscribe for all subordinated securities, with total subscriptions capped at 1 billion yuan.

HKG:6031SHA:600031
Asia

Tencent Unveils Hy4 Preview Open-Source AI Model

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HKG:0700
Asia

Samsung Heavy Industries Bags KRW445 Billion Container Ship Project

Samsung Heavy Industries (KRX:010140) secured a 444.5 billion won contract to build two container ships for an unnamed African buyer, according to a filing with the Korean bourse on Monday.The contract is valid from Aug. 28, 2026, to Dec. 27, 2028. Payment will be made as construction progresses, the filing said.Shares of Samsung Heavy Industries fell more than 2% in recent trade.

KRX:010140