China Pacific, Huludao Zinc, Qingqi Motor: China Equity Preview

Date:2011-08-18lile  Text Size:

July 27 (Bloomberg) -- Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, added 0.5 percent to 2,703.03. The CSI 300 Index rose 0.3 percent to 2,977.77.

China's pork prices fell last week for the first time in three months as supplies increased and demand slowed, the Ministry of Commerce said. The price of the Chinese staple dropped 0.2 percent in the week ended July 24 from the previous week, the first decline since the week ending April 8, according to data compiled by Bloomberg.

Producer Henan Chuying Agro-pastoral Co. (002477 CH) rose 1.9 percent to 30.96 yuan. Hunan Dakang Pasture Farming Co. (002505 CH) advanced 0.8 percent to 16.54 yuan.

Beijing Yanjing Brewery Co.'s (000729 CH) first-half net income rose 10 percent from a year earlier to 439.2 million yuan, the company said in a preliminary earnings statement to the Shenzhen Stock Exchange. The stock fell 2.4 percent to 17.46 yuan.

China Pacific Insurance Group Co. (601601 CH): Carlyle Group, the world's second-biggest buyout firm, is selling about $1 billion of China Pacific's shares in Hong Kong.

Carlyle is offering 250 million of the shares at HK$30.90 to HK$31.40 each, according to terms of the deal obtained by Bloomberg News. The stock rose 1.7 percent to 21.06 yuan.

Huludao Zinc Industry Co.'s (000751 CH) first-half net loss was 211 million yuan, compared with a net profit of 17 million yuan a year earlier, the company said in a statement to the Shenzhen Stock Exchange. The stock rose 1.5 percent to 7.48 yuan.

Jinan Qingqi Motorcycle Co.'s (600698 CH) first-half net loss widened to 38.2 million yuan from a year earlier, according to a statement to the Shanghai Stock Exchange. The stock rose 1.2 percent to 5.8 yuan.

XCMG Construction Machinery Co.'s (000425 CH) first-half net income rose 62 percent from a year earlier to 2 billion yuan, the company said in a preliminary earnings statement to the Shenzhen Stock Exchange today. The stock dropped 0.4 percent to 22.93 yuan.

Zhejiang Huafeng Spandex Co. (002064 CH): The company posted a 46 percent decline in first-half net profit from a year earlier to 96.7 million yuan, according to a filing to the Shenzhen Stock Exchange. The stock fell 0.1 percent to 8.92 yuan.

Zhuzhou Times New Material Technology Co. (600458 CH): The company's stock rating was cut to "neutral" from "outperform" by Rising Securities Co. analyst Yue Zhao. The stock slipped 0.3 percent to 18.85 yuan.

--Chua Baizhen in Beijing and Zhang Shidong in Shanghai. Editors: Marie-France Han, Brendan Walsh

 

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/07/26/bloomberg1376-LOY28H07SXKX01-0MC69658N6I48EA49O2LPTV7KQ.DTL#ixzz1VMWUJJR3

 

2005-2011 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1