Led by Robin Li Yanhong, ranked by Forbes as the 14th richest person in China, Baidu's net income jumped 41.7% to 492.9 million yuan ($72.2 million) during the third quarter ending Sept. 30, on revenue of 1,278.7 million yuan ($187.2 million).
The dollar has dropped 17percentt against the yuan since China ended a fixed exchange rate in July 2005.
On Tuesday, however, China's largest tiremaker, Giti Tire Corp., regained some ground, ending at 7.18 yuan ($1.05), up 0.8%.
Sinopec will also assume National Star's net debt, which was about 2.68 billion yuan at end of last year.
China surprised markets by ending the peg of the yuan to the dollar, a policy that was reintroduced in July 2008 during the financial crisis.
At a two-day meeting ending on February 18th, the central bank decided to weaken the yuan, according to the Wall Street Journal.
Net income dropped to 3.8 billion yuan in the six months ended Dec. 31, from a revised 5.1 billion yuan a year earlier, the company said.
China Telecom on Thursday posted a net profit (including amortization of upfront connection fees) of 9.1 billion yuan ($1.3 billion) for the six months ended June, down from 12.7 billion yuan ($1.9 billion) for the year-ago period.
Still, some blue-chip stocks managed to stay afloat, with Shanghai Pudong Development Bank, in which Citigroup has a minority stake, surging by 5%, to end at 29.11 yuan ($3.80), after its management confirmed a plan to raise 8 billion yuan ($1.0 billion) by selling shares either in Hong Kong or Frankfurt, the latter an unusual location for a Chinese listing.
7 Days also said its revenues had multiplied from 54.9 million yuan in 2006 to 721.4 million yuan ($105.7 million) in 2008 and 830.8 million yuan ($121.7 million) in the nine months ended September this year.
360 Finance's net loss widened to 572 million yuan, or $86.4 million, for the six months ended June 30 compared to 67 million yuan for the same period of 2017.
