China Railway, ICBC, Moutai, Sanan: China Equity Preview

The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the close of Jan. 21.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 37.64, or 1.4 percent, to 2,715.294. The CSI 300 Index rose 1.3 percent to 2,983.46.

Bank of Nanjing Co. (601009 CH): The lender part-owned by BNP Paribas SA said profit probably increased about 50 percent in 2010 from a year earlier. The stock rose 2.1 percent to 10.08 yuan.

China Quanjude Group Co. (002186 CH): The operator of Peking roast duck restaurants said net income for 2010 rose 4.5 percent from a year ago to 88.2 million yuan ($13.39 million). The stock rose 1 percent to 29.8 yuan.

China Railway Construction Corp. (601186 CH): The builder of more than half of the nation’s railroads said it will sell an unprofitable contract to build a light railway in Mecca to its parent for 2.08 billion yuan. The stock gained 3.9 percent to 7.17 yuan on Jan. 19, the last trading day before the shares were suspended.

Industrial & Commercial Bank of China Ltd. (601398 CH): The nation’s biggest listed lender agreed to buy an 80 percent stake in Bank of East Asia Ltd.’s U.S. operations for $140 million, the two companies said in a joint statement. The shares added 1.7 percent to 4.22 yuan.

Kweichou Moutai Co. (600519 CH): China’s biggest producer of baijiu liquor by market value said it will invest about 600 million yuan this year to expand liquor production by 2,000 metric tons. The stock fell 2.3 percent to 175.89 yuan.

Sanan Optoelectronics Co. (600703 CH): China’s biggest producer of light-emitting diode chips said net income for 2010 jumped 133 percent from a year earlier to 419.3 million yuan on increased sales. The stock surged the 10 percent daily limit to 48.99 yuan.

Sinopec Yizheng Chemical Fibre Co. (600871 CH): The unit of Asia’s biggest oil refiner said 2010 profit may have jumped by more than 200 percent from a year ago. The stock rose 1.4 percent to 11.93 yuan.

Shanxi Taigang Stainless Steel Co. (000825 CH): China’s biggest stainless steel producer said net income for 2010 probably increased as much as 70 percent to 1.54 billion yuan. The stock gained 1.5 percent to 5.33 yuan.

Tsinghua Tongfang Co. (600100 CH): The manufacture of computer-related products said it plans to spin off a unit, Technovator Int Private Ltd., for listing in Hong Kong. The unit’s listing will likely take place in the second half of this year, it said. The shares rose 3.9 percent to 25 yuan.

--Zhang Shidong, Judy Chen. Editors: Claudia Carpenter, Peter Branton

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at +86-21-6104-3040 or szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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