China Stocks: Chaori Solar, Jiangling Motors, Hisun, TCL
Stock Chart for Jiangling Motors Corp Ltd (200550)
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 22.84 points, or 0.8 percent, to 2,728.02. The CSI 300 Index (SHSZ300) gained 1 percent to 2,986.35. China’s markets will be closed on June 6 for a holiday.
Solar stocks: Shanghai Chaori Solar Energy Science & Technology Co. (002506 CH) gained 1.4 percent to 18.65 yuan. Zhejiang Sunflower Light Energy Science & Technology Co. (300111 CH) advanced 2.6 percent to 21.32 yuan.
China plans to double solar-power generation capacity to 10 gigawatts by the end of 2015, the China Securities Journal reported today, citing an unidentified person. An industry development plan for the five years through 2015 has been submitted to the State Council for approval, it said.
GF Securities Co. (000776 CH) added 1.1 percent to 33.96 yuan after saying it won approval from the China Securities Regulatory Commission to sell as much as 600 million new shares in a private placement.
Jiangling Motors Corp. (000550 CH), the Chinese commercial vehicle partner with Ford Motor Co., gained 1.1 percent to 25.60 yuan. The company said it sold 16,765 vehicles in May, a 6.6 percent increase from a year ago.
Xinjiang Beixin Road & Bridge Construction Co Ltd. (002307) (002307 CH) climbed 3.6 percent to 16.37 yuan, the most since Feb. 28, after the company said it won two construction contracts in China’s western region of Xinjiang worth a combined 107 million yuan ($16.5 million).
Zhejiang Hisun Pharmaceutical Co. (600267 CH) rose 1 percent to 36.23 yuan, the highest since May 13, after agreeing to form a $295 million venture with Pfizer Inc. to develop expired-patent drugs.
Zhejiang Qianjiang Motorcycle Co. (000913 CH) jumped by the 10 percent daily limit to 7.71 yuan. The company announced a plan to develop lithium iron phosphate batteries with privately held U.S. company K2 Energy Solutions Inc.
--Zhang Shidong. Editor: Allen Wan
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