China Stocks: China Life, Datong Coal, Haitong Securities
Stock Chart for China Life Insurance Co Ltd (601628)
The following companies had unusual price changes in China trading. Stock symbols are in parentheses and share prices are as of the 3 p.m. local time close.
AnXin Trust & Investment Co. (600816 CH) surged by the 10 percent daily limit to 14.96 yuan. The company’s first-quarter profit increased 15 percent to 31.5 million yuan ($4.8 million) and full-year net income gained 96 percent to 92.7 million yuan, according to statements to the Shanghai Stock Exchange yesterday. Anxin shares had been suspended since June 2.
China Life Insurance Co. (601628 CH), the nation’s biggest insurer, lost 2.6 percent to 20.83 yuan, the lowest since Jan. 24. The company’s first-quarter net income fell 22 percent from the same period a year earlier to 7.97 billion yuan, it said in an exchange filing yesterday.
Datong Coal Industry Co. (601001 CH), the nation’s third- largest coal producer, sank 1.5 percent to 19.05 yuan. The company’s first-quarter net income fell 13 percent to 275.2 million yuan, according to an exchange filing yesterday.
Haitong Securities Co. (600837 CH) slid 4.2 percent to 9.76 yuan, the most since Nov. 16. The brokerage plans to hold a public offering of shares in Hong Kong to help fund overseas expansions and acquisitions, according a statement from the Chinese brokerage to Shanghai’s stock exchange yesterday.
Tsingtao Brewery Co. (600600 CH), China’s second-biggest brewery by volume, climbed 2.3 percent to 33.99 yuan. The company may report 2011 earnings per share of 1.46 yuan, 3.5 percent more than Shenyin & Wanguo Securities Co.’s previous forecast, the brokerage said in a report today.
Western Mining Co. (601168 CH), China’s fourth-largest maker of zinc concentrate, declined 1.3 percent to 17.17 yuan. The company’s net income for the first quarter fell 12 percent to 239.7 million yuan, it said in a statement to the Shanghai Stock Exchange yesterday.
Zhongzhu Holding Co. (600568 CH), a medicine maker, plunged by the 10 percent daily limit to 12.39 yuan. The company’s net income fell 50 percent to 73.8 million yuan in 2010, according to a statement to the Shanghai Stock Exchange yesterday.
--Irene Shen, Huiwen Yang. Editor: Allen Wan
To contact Bloomberg News staff for this story: Irene Shen in Shanghai at +86-21-6104-3040 or Ishen4@bloomberg.net
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