CSR, Suning Appliance, Zhengzhou Yutong: China Equity Preview

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, gained 0.3 percent to 2,862.63. The CSI 300 Index rose 0.4 percent to 3,174.74.

Beijing Zhongke Sanhuan High-Tech Co. (000970 CH): The manufacturer of permanent magnetic products said it plans to raise as much as 600 million yuan ($91.2 million) by selling as many as 27 million shares in a private placement. The shares advanced 6.2 percent to 28.48 yuan on Feb. 16 before trading was suspended.

CSR Corp. (601766 CH): The company’s unit was approved to set up an engineering research center for high-speed rail, Xinhua News Agency reported, citing a company statement. The stock declined 1.1 percent to 8.06 yuan.

Guilin Sanjin Pharmaceutical Co. (002275 CH): The company’s 2010 net income fell 17 percent from a year earlier to 254.8 million yuan. The shares increased 1.4 percent to 22.5 yuan.

Shanghai Pharmaceuticals Holding Co. (601607 CH): The drug retailer said it will invest 180 million yuan in the next six years to jointly conduct research and development of four drugs with Shanghai Fudan-Zhangjiang Bio-pharmaceutical Co. (8231 HK) Shanghai Pharmaceuticals rose 2.3 percent to 20.53 yuan.

Suning Appliance Co. (002024 CH): China’s biggest home appliance retailer by market value plans to open 370 new stores this year, bringing the total number of stores to 1,700, China Business News reported yesterday, citing Vice President Sun Weimin. The shares gained 1.2 percent to 12.87 yuan.

Zhengzhou Yutong Bus Co. (600066 CH): The automaker’s 2010 net income rose 53 percent from a year earlier to 859.7 million yuan. The stock rose 0.8 percent to 26 yuan.

--Zhang Shidong, Bonnie Cao. Editors: Brendan Walsh, Glenn J. Kalinoski

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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