China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.

TCL: Sales revenue increased in 2009 -- China Securities Journal

TCL's yearly turnover reached 44.3 billion yuan (US$6.49 billion) in 2009, according to the annual report of TCL Communication Technology Holdings Limited, released today.

TCL's sales revenue increased to 42.92 billion yuan (US$6.29 billion), 14.86 percent higher than in 2008. This was TCL's first increase since it had an international merge in 2004. Profit reached 470 million yuan (US$68.83 million), with a net 213 million yuan (US$31.19 million) after the deduction of nonrecurring gains and losses. Compared to 2008, this was an increase of 213.39 percent. Its net cash flow from business operations soared 46 percent, reaching 738 billion yuan (US$108 million).

The growing sales volume of LCD TVs and handsets greatly contributed to TCL's performance last year. The company hopes to become more competitive globally in flat-panel displays by launching an 8.5-generation TFT-LCD production line.

Shanda to join hands with Ourgame -- Techweb.com.cn

Shanda Interactive Entertainment Limited purchased Chinese online game operator Ourgame, according to a reliable source who also disclosed that the two companies have already reached an agreement on partnership.

The source said it has been some time since the two started negotiations, which have mainly focused on purchasing method. An official announcement will be made at a later date, depending on the progress of the negotiations.

An insider pointed out that if the negotiations were successful, the integration would benefit both parties. Their businesses are complementary, and Shanda will back Ourgame up with game resources, attracting more game players.

Goldman Sachs Asia LLC's managing director resigns -- Hexun.com

Managing director of Goldman Sachs Asia LLC Fred Hu resigned today. Goldman Sachs Gao Hua Securities, which was jointly established by Goldman Sachs Group and Gao Hua Securities in Beijing in 2004, confirmed his resignation.

Hu will leave his post in April but will still be a consultant for the company. He may enter the private equity industry in the future. Hu has been with Goldman Sachs for 13 years.

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