BYD, Chalco, China Gas, Anhui Conch: Hong Kong Equity Preview
The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
Aluminum Corp. of China Ltd. (2600 HK): China’s largest producer of the lightweight metal forecast a full-year profit even as it reported a consecutive quarterly loss. Chalco, as the Beijing-based company is known, had a loss of 117.8 million yuan ($17.7 million) for the three months ended Sept. 30, according to a statement sent to the Shanghai stock exchange. The stock gained 0.4 percent to HK$7.88.
Anhui Conch Cement Co. (914 HK): China’s biggest maker of the building material said third-quarter profit rose 45 percent to 1.36 billion yuan from a year earlier. The stock gained 1.6 percent to HK$34.30.
Beijing Enterprises Water Group Ltd. (371 HK): The water- supply provider said it will buy a 45 percent stake in Guiyang Water Co. for 721 million yuan. Beijing Enterprises Water lost 2.9 percent to HK$2.67.
BYD Co. (1211 HK): The Chinese carmaker backed by Warren Buffett posted third-quarter net income of 11.34 million yuan. Net income for the three months ended Sept. 30 dropped more than 99 percent, according to calculations using nine-month results announced by the company. The stock rose 0.4 percent to HK$56.90.
China Gas Holdings Ltd. (384 HK): The company said it will place 718.6 million shares at HK$4.31 each. The company applied to resume trading of its shares, which were suspended from 9:30 a.m. yesterday, it said. The stock was last traded at HK$4.59.
Galaxy Entertainment Group Ltd. (27 HK): The Macau casino operator said Steve Wolstenholme, chief operating officer of Galaxy Macau, has resigned, and Michael Mecca, COO of the parent, will take the job temporarily. Galaxy Entertainment fell 1.5 percent to HK$7.05.
Sinofert Holdings Ltd. (297 HK): The fertilizer producer said it signed an agreement to buy potash fertilizers from Canpotex Ltd. for as much as $52 million. Sinofert fell 1.4 percent to HK$4.38.
Xinyi Glass Holdings Ltd. (868 HK): The float-glass maker said it signed a letter of intent with Wuhu city in Anhui province to set up a plant that will make ultra-thin electronic glass products. The stock gained 7.5 percent to HK$6.33.
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