Biz Scene: MARKET

Qingdao Aucma deal

CITIC Securities Co Ltd has won a bid for more than 27 million shares in Qingdao Aucma Co Ltd held by Qingdao Aucma Group, the Shanghai-listed home appliance maker said in a statement yesterday.

The share transfer was completed on Monday, it said. The deal gives CITIC Securities an 8.1 percent stake in Qingdao Aucma Co Ltd to become the second-largest shareholder.

The company did not disclose the value of the deal.

Nice little earner

The gala party held by CCTV on the eve of Spring Festival, widely known as chunwan in Chinese, will earn nearly 500 million yuan from advertising this year.

The lowest price for a 10-second ad slot at 8 pm is 5.75 million yuan, and the one before midnight is marked at over 10 million yuan. Huiyuan Juice, the program's title sponsor, will pay as much as 50 million yuan.

Total advertising revenue for 620 seconds will bring in nearly 500 million yuan for the TV station, compared with 400 million yuan last year.

The pay for actors does not increase, though. Famous stars normally get less than 2,000 yuan for their performances.

(China Daily 02/16/2007 page15)