FTSE Russell to include 11 STAR shares

INDEX provider FTSE Russell will add 11 stocks from China’s STAR Market to its global benchmarks, according to a post on its website Friday.

The move marks the first time shares from Shanghai’s Nasdaq-style STAR Market for stocks in China have been included in a global index. The 11 stocks include Raytron Technology Co., Zhejiang HangKe Technology Co., Montage Technology Co., Advanced Micro-Fabrication Equipment Inc.

YTO Express logs revenue growth in January

YTO Express Group, a major express delivery firm in China, reported Saturday a substantial increase in revenue in January.

The company’s revenue from express delivery surged 74.87 percent year on year to 3.01 billion yuan (US$465.77 million) last month, according to its report filed with the Shanghai Stock Exchange. Its business volume came in at 1.27 billion in January, rocketing 116.56 percent from a year ago. Shares of the Shanghai-listed express delivery giant gained 1.92 percent to 12.22 yuan Friday.

Sinopec plans more hydrogen refueling stations

CHINA Petroleum & Chemical Corp. (Sinopec) plans to build about 1,000 hydrogen refueling stations and petrol-hydrogen combined stations in the next five years to promote clean energy.

By the end of 2020, Sinopec Marketing Co., a Sinopec subsidiary, had constructed 27 pilot projects on hydrogen refueling station in regions such as Guangdong, Shanghai, Zhejiang and Guangxi, China Securities Journal reported Saturday. A hydrogen refueling station is a facility designed for filling a vehicle with hydrogen fuel. It can be part of a station for fossil fuel refueling or an independent facility.

JD.com plans to list shipping unit

JD.COM Inc. plans to list its shipping business in Hong Kong, raising potentially billions of dollars to capitalize on China’s post-COVID e-commerce boom.

JD Logistics Inc.’s initial public offering (IPO) could raise roughly US$5 billion and value the unit at about US$40 billion, people familiar with the matter have said. Details of the proposed spinoff haven’t been finalized, the company said last week. JD Logistics’ imminent IPO would be a milestone for its parent, which spent billions of dollars building one of China’s largest courier services to ensure on-time delivery.