The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
Automakers: China’s passenger-car deliveries to dealers rose to a record in November. Sales of passenger cars including multipurpose and sport-utility vehicles increased 29.3 percent to 1.34 million in the month, according to the China Association of Automobile Manufacturers.
Separately, China may end tax incentives for buying passenger cars next year, said Xiong Chuanlin, vice secretary- general of the China Automobile Industry Association.
SAIC Motor Corp. (600104 CH), China’s largest carmaker, slid 3.2 percent to 15.99 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, retreated 5.4 percent to 16.89 yuan.
Developers: China’s property prices rose at a slower pace for a seventh month in November. Home prices in 70 cities climbed 7.7 percent from a year earlier, China Information News, the statistics bureau’s newspaper, reported today. That’s slower than the 8.6 percent increase in October, and the 8 percent median estimate in a Bloomberg News survey of seven economists.
China Vanke Co. (000002 CH), China’s largest publicly traded developer, fell 3.8 percent to 8.17 yuan. Separately, Vanke won six land plots in Shenzhen city with a bid of 2.96 billion yuan, China Securities Journal reported. Poly Real Estate Group Co. (600048 CH), the second largest, slid 4.5 percent to 12.13 yuan.
Bank of China Ltd. (601988 CH): China’s fourth-largest lender by assets plans to sell as much as 20 billion yuan ($3 billion) of yuan-denominated bonds in Hong Kong before the end of 2012. The stock was unchanged at 3.27 yuan.
Baoshan Iron & Steel Co. (600019 CH): Parent Baosteel Group Corp. said it will take over and restructure Desheng Nickel, a Fujian province-based nickel smelter and stainless steel producer. Baoshan Steel, the listed unit of China’s second- biggest steelmaker, rose 0.2 percent to 6.36 yuan.
BOE Technology Group Co. (000725 CH): China’s biggest maker of liquid-crystal-display panels said it has raised 9 billion yuan from a private share placement and will use the proceeds for a LCD production project and to boost its cash flow. The stock lost 2.1 percent to 3.31 yuan.
GD Power Development Co. (600795 CH): The largest electricity producer in northeastern China said it will pay at least 50 percent of profits as dividends between 2010 and 2012, and aims to boost its power production capacity to 60 million kilowatts by 2015. The stock rose 1 percent to 3.17 yuan.
Huadian Power International Corp. (600027 CH): The listed unit of China’s fourth-largest power producer said its subsidiary Maohua Co. has entered into an agreement to acquire the mine assets of three companies for a total of 1.6 billion yuan. The shares were unchanged at 3.53 yuan.
Huaxia Bank Co. (600015 CH): The Chinese lender part-owned by Deutsche Bank AG has received regulatory approval to raise as much as 20.8 billion yuan in a private placement. The stock fell 2.2 percent to 10.91 yuan.
Industrial & Commercial Bank of China Ltd. (601398 CH): The world’s largest lender had its fundamental strength rating raised to C+ from C by Standard & Poor’s Ratings Services on “improved profitability and disciplined loan growth.” The stock fell 0.9 percent to 4.21 yuan.
Konka Group Co. (000016 CH): The television maker said it received tax rebates of 42.3 million yuan for the sales of some software. The stock fell 2.1 percent to 5.04 yuan.
Shandong Helon Co. (000677 CH): The chemical company said it obtained subsidies of 63 million yuan from the local government. The stock added 0.9 percent to 5.81 yuan on Dec. 7 before a trading suspension.
Taiyuan Coal Gasification Co. (000968 CH): The manufacturer of coal and related chemical products plans to raise as much as 2.85 billion yuan in a private placement. The stock last closed at 22.97 yuan on Dec. 2.
Yunnan Copper Industry Co. (000878 CH): China’s fourth- biggest producer of the metal said it hasn’t received any bids for its silver unit, which the smelter has priced at 166 million yuan. The stock dropped 1.2 percent to 23.80 yuan.
To contact the editor responsible for this story: Darren Boey at email@example.com